New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-12-20

A veteran among stock brokers, and one who,
with the quality for close observation, combines
the capacity for sudden change Of opinions, to-
day after the close of business described the days
market IN four words: Higher but no better"
To the habitual Spectator that simple phrase
speaks volumes but tor the benefit of the
initiated il is explained to mean that while prices
were marked up by system of manipulation, H.
GLIDING that of distributing matched orders there
was no more market for stocks than there WAS yes
terday morning at Figures which were 1G3 per
cent lower than to-day's best prices. We guess
that the gray-haired veteran has Very nearly hit
the nail ON the head. The business of the day
shows @ further contraction from that of preceding
days it having amounted only to $4,000 shares
against 265 shares yesterday and 475 ass shares
on Saturday. While the Improvement i'll prices was
general and included stocks of all kinds the deal
ings in Union Pacific and Western Union were spe-
cial features. because they were influenced by ex-
traneous circumstances or rumors. The transac-
tions in Union Pacific (43,70O shares
were over 12l2 per cent of the days
total business in all shares; the price opened
OF 1895 103sS and during the first hour advanced
10 l05ls; later sales were made at l04l20l05ssG
1O5 The handspring of the advance in that par
tioular stock the buying which it is alleged was
caused by the publication in The Boston Advertiser
purporiing to give the result of that gentleman's
investigation of the affairs of the Ompany, really
fails to mpart particle of information concerning
them. Mr. Adams is reported as writing: The
results OF all my inquiries have been a curious ill.,
sight not into the weak spots of the
Union Pacihc-these l will say at once
have escaped me-" Yet the last statement
made by the comDany's officials, and one that WAS
made TO explain away the effect OF the report of
the Secretary of the Interior showed that on Deem
Der 4 the total cash on hand was $177. 912 that
the sundry accounts were $I25, AS and notes re-
ceivable $1l1, 800 and that the total cash assets
were S3l5, 657, against an acknowledged floating
debt at that date of $5,490,5sl. To anyone
who is not an expert a total cash balance of
30 small amount against 30 large floating debt.
which did not include the dividend of 81 per cent
since declared, amounting TO 81 $50 600 in cash.
would seem 20 be spot that, if not weak, GER
tainly was not a strong point if it was developed
by Investigation The character Of the synopsis re-
ceived here renders it almost impossible TO believe
that the text of Mr.. Adamss communication has not
been unfairly misrepresenJed. While Union Pacific
made little or no improvement after the early
business. the decided movement IN West
ern Union was only in the late dealings :
The price OF this stock was pretty firm at about
S2Gs2 all day, but after noon it advanced to S3Ss
On report, that the Attorney General had refused
The application for sui TO annul the oOmBany's
Charter. The report was not confirmed, and It is
not likely that anyone has received any informa-
oon Of what the Attorney Generals decision will
De- nevertheless tho rumOr had its effect, and
probably was profitable investment tor those who
Circulated IL. TIE movements in the two stocks
named exered an influence in favor of higher prices
su over the market. At the close however. the