New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-14
CLOSING PRICES OF BOSTON STOCKS.
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Wednesday, Jan. l3-p m.
The stock market was active and fairly strong
in the morning hours to-day, but the later move
ment was distinctly downward Not only was
the early Improvement lost, but substantial losses
were suffered By the most active stocks. Chicago
Gas was first in amount of transactions, and II
fell with some abruptness nearly 3 per cent, and
after a rally toward the end il closed with loss
Of 5-S per cent The fluctuations were eX-
cused perhaps, by the loss OF about per cent
in American Sugar Refining, which was depressed
by the announcement that at the annual meet
ing the stockholders Of that New-Jersey corpora
ton had authorized an increase Of S25OOO,OOO
in the share capital. The very size of this addi-
ton naturally suggested agreement between
the company and its principal competitors. The
ACQUISITION Of the California refneries was re-
ported to have been accomplished in a round
about way, but this would involve also the
purchase of other relneries in the Eastern States
The apparent removal of all opposition may en-
plain the relative strength Of the stock in the
face of the large increase in capital. The net
earnings of the company in the past year were
stated to be not les, than $5.O73,000, and, after
the pavment Of dividends Of per cent on the
common and per cent on the preferred stocks.
tbs surplus earnings were 81 ,323,OOO. lhat uhe
decline in this stock could explain the sudden
fail in Chicago Gas must he accepted as evidence
that the manipulation of both Is in the same
hands. In the final rally Sugar Refining rallied
with some reluctance, while Chicago Gas rose over
| per cent. The movement suggested that INC
buying was better in one case than the other.
The weakness Of the general market in the last
hours was due TO variety Of causes. The LONDON
market had closed heavy, and the fact was eA-
planned afterward by ruInOrs that the Oldest son
of the Prince of Wales was believed TO he dying;
Rumors we're started, also, that the Government mad
sent an ultimatum to Chilli and apparently war
was 10 be begun Immediately. Still more import
ant. in a speculative sense, was the statement that
AT The meeting Of the Advisory Board at the Wind
sor Hotel Mr. Gould had preferred charges Of rate,
emitting against the Atchis0n, Burlington ana
Quincy. and Southern Pacific railroads 1t was
concluded at once that this retaliation for the en-
forced retirement of the general manager OF the
Missouri Pacific year ago might result in serious
differences in the association, and perhaps in Its
complete disruption. Like most sudden decisions
by Wall Street this was no, well. founded.
settlement of the question will not be reached until
the next quarterly meeting of the board, and II is
hardly probable that the rules On this point were
no. fully known 10 the author Of the charges.
TIC delay increases the uncertainty about tie out
come and for speculative purposes is more valuable
than an immediate Judgment. With the Immense
amount of tonnage in signT, il is incredible that
the Wos'ern railways will engage in war of
rates but il is certain that rumors TO that effect
will he circulated periodically until the next meet
ing Of the Advisory Board.
In view of the adverse influences the closing