New-York tribune., 1891-10-15
CLOSING PRICES OF BOSTON STOCKS.
Boston Oct. IL 1891
WESTERN UNION ANNUAL REPORT


The report Of the Western Union Telegraph
Company for the fiscal year ended on June 80
shows surplus earnings Of $5,674365, or over
1-2 per cent on its capital stock. AS the com
pany paid dividends of only per cent. the sur
plus for the year was 81 ,364,75s. This addition
to the surplus on July l, 1890, makes the sur
plus at the end of the last fiscal year Sll 7,74l'
The satisfactory results were accomplished In
what was hard year for telegraph properties, ana
in spite of the losses by fire in July, leSO. Inc
increase in gross expenses was conslderaoV Al
excess Of that in gross revenues, but IL was oue
in part TO repairs of both Atlantic caDles anu
one Gulf cable and TO the extraordinary expenses
incurred in consequence of the fire ana 'he re-
construction of the main building Inc expenses
include 81 1881 l63 paid for rentals OF leased mrs
90 ZOO e27 for maintenance and rebuilding Oi
lines and 1881 ,s97 TOR equipment OF o1lces dnt
wires The net profits were reduceu sone spoS 1iaY
below those of the previous year, but they shoWec
n steady growth in the business or the COMPANY
The Average tolls collected were 80 Genus
message, an increase OF MILL over I"e peSeo oa.
year but the average cost was raised Dy * cehe &
a message to 232 cents. The additions W Cae
plant in the year 1894 miles OF pole sn aIes
and cables, 36,504 miles OF wire, ana 10 oiH.Io .
The share capital was not increased ana lHe
funded Indebtedness was reduced by S2|,I-v
The following table compares the prlncipai
features Of the business for the past tn[ee Se"i''
WHAT WAS DONE IN STOCKS.
few stocks The life these possessed was III
fused by the operations of the bear 1acuoh hi MnTn
was again encouraged by the evident lacK ol Pu.io %
interest and support. further advance III IT TT
rates for foreign exchange, due in part TO small,
but continuous selling for foreign account, voc VOC
the fimsy preteXt in favor OF lower prices; 1hcIe
seemed TO be some uneasiness IN the EufoPedn
roarkets-in Paris on account OF the rumOreu lail-
ure of the new Russian loan, and IN London III
anticipation of an advance IN the BANK ra'e & ol
discount The selling for foreign account W,S
neitber active nor spirited however, and apparently
something of much greater Importance tiian Ihese
trivial influences was needed to arouse the slIeSs
n nubIic interest at home and abroad was qules-
cont the advocates of lower prices were unuSuaHS
restless and energetic, especially IN the cIo'l.3
dealings II their misfortune, however ~
select Union Pacific as the principal point OF az
tack. Without reference TO the intrinsic value OF
the property it may safely be asserted IhaC aC
nresent the stock is under cloud Holders are
not anxious TO sell, but they are equally reluctant
to increase their line. while others prefer to leave
tb stock alone Any sharp movement In II Is
dnpriyed by this universal indifference, OF potent
influence on the general market It's loI OF per
cent in the last hour excited languld curiosity,
but the sympathetic declines IN the lea9hg siOCAs
ere Of the smallest dimensions. 1t is not improbable
+bot while attention was distracted by OhlOn IA
cfc the buying Of other stocks was wltA tie
purpose Of protecting previous snorl saieS: .neie re
Is no doubt that a large short Intereft exists Ill
tho chief Western shares. Ike Rock island Bur.
lineton and Quincy and Atchlson ana H. splte vi
tLa cor,narativc weakness. there has been no
favorable OpDOrtunity 10 rcpuTchaF at 1 sdfri
factorv profit. Aside from Union Pacific, which
closed with a loss Of 5-s DeIr cent ,hG largest
internafionaI market louisville and Nashville
was especially weak an1 the only excuse for the
decline was the partia! failure Of the cotton cro,
orcd recertIv that the capitalization of the com
oapv TT has increased in the past dozen wears The
poorer condition OF the cotton crop Will hardly
cause the bankruptcy of the company ior ene
cbeirman Of its Board OF Directors called atten-
tion 10 the extremely small percentage Il ?-IO
which its cotton freight bare to It's whole th ,ranc,
inss of as per cent As a rule the final de-
cIincs were not more than 1-2 per cent
THE DAY IN THE BOND MARKET
A sale of 900 registered IS at an advance
Of 38 per cent impaired strength TO the EoNeIn- l
mont bond market Bids for few OF the cur
rencv issues however, were slightly reduced
The closing quotations were rs follows