New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-02-08
CLOSING PRICES OF PHILADELPHIA STOCKS.
LOUISVILLE AND NAsHvnLEs SHOWING

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Wednesday, February 7-p. Ia.
The official statement Of the Louisville and
Nashville Railroad Company for the first half Of
its fiscal year ended on December 81. made
public to-day. 1t Is ample justification OF the
action of the directors a month ago In passing
the dividend although this was stated to be
merely precautionary measure. For the same
period in 1891 the company paid dividend Of
2'a per cent. ana year ago one OF per cent.
This year it was considered ineXpedient either
TO pay dividend in cash to revert to the
former method of scrip payments. The gross
earnings showed a decrease Of 81. 500 0OG and. in
spite Of rigid economy in working expenses.
decrease in net earnings from traffic Of sG3G.1i1.
Receipts from investments were smaller than
for several years. while first charges showed a
persistent growth The net losses on account Of
auxiliary lines steadily diminishing, and
the Georgia Railroad furnished profit Of 500
545 against S14 3)3 In the period In 1892. and
loss OF about $4,000 In the preceding year.
The percentage OF operating expenses To gross
earnings was GO 80, against CT 40 In 1872 and
CO 40 IN 1891. The surplus earnings applicable
to the payments Of dividends amounted to only
S1.113.GSO the smallest amount In several years. In
spite Of an increased mileage and capitalization.
The following table compares the operations
of the company for the six months ended on
December 81 for the last three years
BUSINESS FOR THREE HALF YEARS
S STINT s%:a.:. S5 G isS
o; S:; s's;s.s say 81 f 81:
Total reyenue........ SAGA $50 s.7is4ao s'oocs7:
T.:s sss.y inc, SECS 5s s,s 81 81.
n; Xs 's 80 90, ss. 5.n Slices
DIVIDENDS '...'........ l"-o"t' l"'O"" ''''''''''
Surplus Cor hal, year sis,so7 ssso6u siIiacso
WHAT WAS DONE IL STOCKS.
Speculation in stocks was quiet and irregular.
with scarcely other interesting featufe. me
opening WAS dull, but there q moderate
covering of short contracts in the leading in
dustrial shares and one or two OF the faN"rlteS
Of London spectators were fractonally better
Transactions H. the industrial stocks We're on a
much smaller scale. however. and In spite OF
their Improvement their final gains Wer" loss
than per cent. Sugar Refining and Distllling
and Cattle Feeling were we'll supported through
out the day. and both closed above Their nrst
prices. although somewhat below their pest
figures. It was the popular belief that hoth
companies would be helped by the changes IN the
tariff bin. which the Senat" would probably
insist upon, ana the prospects OF speedy action
were considered bright. II remains 10 BE seen
II the discussion In the Senate will not be pro-
lOngcd, and # practical hearings which have
been refused by the Finance Committee VIII not
be granted In the shape of amendments offered
the floor. Questions about the revenue pro-
visions. well duty on sugar. VIII he likely
TO forge to the front whether the committee
admits or represses them There may be, there
fore. n greater delay in the passage or the 1a!lH
bill than Is now anticipated. or the other IN
dustrial stocks Chicago Gas was strong In the
early dealings on the possibility that the ordi-
nance passed by the Chicago Aldermen would De
vetoed by the Mayor. and that the company
would be able to maintain It's monopoly Inc
stock was extremely quiet and after a fractional
advance closed absolutely unchanged. In the
general liz. the Granger shares were depressed
by continued falling OFF In traffic ana further
decline in the price OF grain. The conspicuous
feature Of the final dealings however, was the
rather abrupt fan In Western Union. when
suffered a loss OF Ia per cent. the movemeh,
was not explained, and because the stock had
been sustained with evident confidence until the
last hour it unexpected surprise. IL
undoubtedly exercised an unhappy Influence on
the general market. and the closing was heaVy
and with few exceptions at the lowest points.
THE DAY IN THE BOND MARKET.
There were no transactions In Government
bonds az the Stock Exchange but the market
was steady. Several subscribers 10 the new loan
have been able to sell the bonds at cost price.
The closing quotations were rs follows:
EidA Asked Bla.Asiei.
T. ..s,s.i 4, Is r. Gu: cur 6 &; 1ss 49, 10,
rs 6 1885, 1891 !s. liz, Sc q: s 9: 1851
Among state issues Virginia funded debt %
per cents were active and higher AZ 5fW1iH on
purchase Of 100000 month. There were small
transactions In deferred Go. stamped receipts. at
ca City bank stocks were neglected.
The general bond market was not active but II
was more than steady ana The movement of
prices was toward a higher level. Erie second
consols rose nearly per cent to 77ls@Th on the
announcement tn2t opposition 10 tHe pippos'u
plan OF reorganization had been Withdrawn. |
Chcsapeake and Ohio Issues were firm without |
material change, although Richmond and Ale |
ghany division seconds further gained !. per |
cent at Uh. Northern Pacific Issues continued |
to be irregular, but while variations were small |
they were generally advances East Tennessee |
general ~ were per cent higher at SSN and |
Richmond Terminal So made the same gain at |
20T Philadelphia and Reading incomes. on the |
other hand were weak. tirsts falling nearly per |
cent while seconds which were much more active |
lost only "a per cent. General mortgage IS were |
1ull and unchanged AT 72% W12I,. Texas and |
Pacific issues were pressed for sale. hrsts closing
~ lower N -7M and income seconds Il per cent
lower M 21S reference is made 10 our fun
port of bond sales.
THE money market was not disturbed Rates
for call loans ruled at per cent. but the supply
an both demand and time far in excess OF