New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-29

Ntw-yORK CEyTRAL'S QUARTER.
"Wednesday, December 2s.-p.

son River Railroad Company, al the Ie3"'I
quarterly meeting to-day, declared thc usual
dividend of IA per cent. The statement SHOWS
q small gain in gross earnings. but the most of
this is swallowed up by increased working eN-
penscs and fixed charges The surplus for the
quarter after payment OF the regular dividend
is S35s, 96s, against S334,3S5 in the sam" period
last year For the first half of the present fiscal
wear the surplus is $4OO,970, against S9'O,5s6
year ago, when the same dividend was paid, ana
against 81 1921 in the first half OF ls"o, wheh
the dividend was at the rate Of per cent year
In the quarter the ratio of operating expenses 20
net earnings 67.74 per cent, against 6s'oo III
the same quarter last year and 6G.43 per cent IN
the preceding year. In the six months 1t was
Gs 6S per cent this year, against 66.26 per cent
a year ago. II should be observed that the earn
ings for the present month are partly estimated
The statement for the quarter is "a follows:
NETWORK CENTRAL AND HUDSON RIVER
Quarter ending December 81. ,.o, roo.
Gross earnings s9fG$l5o So 2G5 $50 Il s55.5
Operating cxpenses.... O,2e1'9sl s3i79i5 oJcs 7si
.,.y sis 80 ss9if :ses5
earnings. 90 Sc 1gs ;3 ig:9i
Sss quarter Sc ssos5 s 1855 SO
WHAT WAS DONE IN STOCKS.
The stock market much more active, but
the increase in business only added to the irrcgu-
larity in prices. The movements, as a rule.
| due TO special causes, aud influenced largely by
professional operators London hardly
| factor but the weakness OF foreign exchange
an encouraging sign, because il rendered more diff
cult further exports Of gold. The general c0ndl-
tons apparently were favorable To continuation
of the advance begun yesterday. but they were
! offset partially by special influences The activity
and decline in Northern Pacific stocks and bonds
| were the conspicuous feature OF the market
! Northern Pacific preferred sprang inc sudden
! prominence, and the transactions in II Wee more
! than one-sXth Of the total business. In spite ol
! "A final rally Of l-2 per cent II suite cl loss OF
| ] 81 per cent, while the common stock moved III
sympathy and the speculative bonds Of the com
pany again closed materially lower. Al times the
active selling suggested Il iJrccl n1ulHdtlon. ana
run,ors OF the serious embarrassment Of Stock
| Exchange firm were put forth a. an excuse Tor
the decline. This was wholly inadequate ana
other rlimOrS. including some that were extremely
! stale were SCI i'm motion. \ new isol" OF bonus
on the terminal property at CHICAGO ana manpi-
iaIioD in the interest Of the Great Northern Rall-
way were perhaps the most important, even II
/ they were the most hackncycd. o say tlIat th'N
accounted for the decline in Northern racine
! would ho 70 Lightly them. II would De interest
ing 70 know however. what will BE- tie tenor ~
/ the report Of the stockholders committee wnl'h
Las recently returned from careful eNa4ilhatI"'
of the property. 40 report about either INC
physical condition Of the road or the hhahcldi
| necessities of the company has been made, ana az
The recent rate Of ,llrinkase in the pre-" OF the
stocks ard bonds. il is barely poaslhl" tha' I'D
formal report will be rcIuir"t.
4 large icatn.. in exactly the opposite drec-
ton was supplied by the anthracite coal StoctS.
/ D,lawar, and Hudson gained -, l@cKdWAhha
. and NcH-Jer>ey Central = per cent. l.'S'
advances were made on small purchases, li''
which showed tc absolute scarcity "i ui'~,
stocks Reading was more 9clVG u an u hi;'
been for nearly week. bu' II rallied WIN cyl
dent reluctance. and IFS final gam W4S ohN =
per cent All classoS Of its income bonds Weii
materially HIGHER Wall Street quickly recognized
lie advantage that woUld follow the payment
IN cash Of the interest OF these bonds, bui 1t was
unable to gciye H. Ic d o %G bv W MILK
/ Tho Finonc, Company. of Philadelphia, become
the commercial agency Of tie Reading Cpmparf
VAS regarded with suspicion 1t may ~ n
/ ,od coal ana the economy of the transaction can
only be proved by the terms Of IA" agreement
wigs irregular The closing was generally AT a
small rally, but the final variations were divided
THE DAY N TIE BOND MARKET
There were again no transactions in Government
lords at the Stock ENch9nae y further advance
stimulate sales The corrected quotations are as
/ follows:
us..as,l con- nd"'"'i * 1:'A..''
tnud II per- no ,. cur o ~ i. s,' NV, w' I'D;
+ l!. ss f. AZ, He # liz.
Ms Is sGi 1901, i''@
The business in state bonds was limited 10
email sales If Tennessee Settlement Is at 10? >
and l05. There were 10 sales Of city bank
y
The general bond market was fairly active, but
the movement OF prices was extremely irregnllr
= Northern Pacific issues rcmnlr"d weak under
= active selling apparently for the long account
Conso js fell ] 3-S per cent 10 90 p CLOSING AZ
their lowest point, and Chicago and Northern Pa
cifc firsts which were much less active, lost IL
per coit at Il "a Ncw-York and Northern
seconds reacted ! pr cent 10 y. The Wabash
and few other issue, were Of fraction. The
prominent feature on the other side was the
strength Of tie Philadelphia and reading is
sucs Tic general a. CARED only IA per cent.
but the incomes rose lIom - 10 ii per
cent. although last hyurcs were not always Tie
best Reference il made to full report Of
bond sales
Money on call ruled at 3 per cent, hnt
larger business than yesterday done Below
this rate. The extreme range from 10
per cent, but few loans made at these
figures
The Clearing House statement was a. follows {:
Exchanges Sl3j G0G, $50: balances, S7,2s-. lab.
The >ub-TrcasuV debtor to the Clearing
House S707,974 lis net l0ss on balance was
Sl26. 037. made up by losses Of 81, 10 in coin
and s033l8 In currency. The days operations
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