New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-23

counts could carry them They covered right
and left, and they were so busy engaged IN
fastening this operation that they forgot all
about tight" money then, wa! with spain,
yellow fever. etc They helped purge the mar
Cet yegtC>dar OF great mass Of weak holdings,
and although working for their own ends rather
than FOR the health OF the speculative situation,
they accomplished much good IN the!T transac-
ito; S and helped place the market upon
stronger and healthcr basis. YESTERDAYS break
was not heavy in proportion 20 the amount Of
transactions. While OveTD0uGht to some extent.
there vas not such d frigh;fuy bal specula-
tive situation a stated iu some quarters. FOR
the great majority Of traders mad not exceeded
the limits OF caution. ana from IN" point @.
view OF some OF the best observers IN III" street.
there had been more caution ia the recent bun
movement than In any similar movement III Tue
history Uf the Exchange. There was undoutt-
ediy oyerspeculation Ia many quarters. but y
there had been the Misrepresentation described
10y some people a spectacle OF crum3hng prices
instead Of reaction would have been presented.
All of the selling yesterday was not induced h.
transportation. Much OF Il was caused b.
timidity. and not by financial Weakness. Even
operators who We're safely maTGined sold be-
cause they did not know what Was going 10
happen, because they placed more faith in bear
statements than they did in their own Judgment.
because they forgot that the situation had not
changed, and that the position of business
throughout the country warranted higher prices.
People who sold from fright Yesterday bought
back at higher prices to-day and their brokers'
made double commission thereby.
The expected increase IN the Rock Island divi-
was one OF the first 10 reduce its dividends, was
PLACED upon 4 per cent basis. Rock Island is
financially and physically strong. IN the years
If depression il accumulate a comfortable sur
plus placed its property in first-cass condition.
ard paved the way for making handsome re-
turns TO its owners. Chicago and Northwest
ern's earnings for August issued to-day showed
an increase in gross Of S3I3.oD. Burlington :
earnings will he far above Northwest's. accord
ing 10 current belief. Burlington is in the diNi-
dend promotion line ard although IL may hol
receive that promotion until next MaTch. Us
present market value IL cheap as based upon
It's present earning power. Burlington ana st
Paul went above par to-day. against the closing
of 9Sl2 for both last night. Rock Island ad-
yenced to 9:j7s. closing AT oJi-. Northwest ad-
yanced ~, per cent net. Omaha rs per cent
and substantial gains were made throughout the
res; OF Che iroad list. which IN Manhattan
amounted to per cent Chicago Gas gaiheu -
per cent Consolidated Gas, S's per cen' ana
S,co,. padnjng H. ppr cent The anthracite
shares were strong. and most ISSUES COsFo near
The best prices OF the day. In the afternoon
movement stocks showed great buoEdhc!, anu
the huvjrC was OF an excellent character WINE
At the close and after business hours sentiment
in the Street was most bush. Lon"'h was d
comparatively heavy seller, but lis operations
everted no influence upon the general hldrkt'
An incident OF the day was sale "f ianaha
Railroad stock the first transaction IN mis- ISSUE
tor a considerable period. ..,.
Prices for the last sales Of the p:iN'lh'i i've
stocks today compared with ~" hN" 'E"''
Of YESTERDAY were as follows;