New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-09-29
MONDAY, Sept. 2s-p. N.

MONDAY, Sept <o-f' ne
The speculation at the Stock Exchange opens the new
week with an apparent renewed confidence IN hsher
values Saturdays st. Paurs fnancering was offset oy
the morning publication OF sensational story OF lovo
feast between the Baltimore and Ohio the PeDnsyvania
and the Philadelphia and Reading railroads. ut when
the last named company acted as general scuon feace
declared between the Pennsylvania and the Baiti-
and Ohio, and they both were 10 enter Ncw-forK
Jersey City the Pennsylvania leased INES Oh
equal terms, while the Reading to accept from the
Company for 1t its leased limos between
Philadelphia NewYork (which includes Central OF
New Jersey business equal to that called for by ls
contract o. with. the Baltimore and Ohio nne
The story was poorly told IL was as
full OF holes OF mprobab ites sieve designed Tor
the separation of gold dust from water That later
received official denial Is not surprising Yet therei Is
no question that It would be good thing
for both the Pennsylvania and the Baltimore
and Ohio companies II they would como to
an equitable agreement ito enter New-York on the
llne-nstead Of bya duplication OF roads-Cenra
OF NewJersey present market values being out OF the
question for the purchase leasing by any other COM
pany than the Reading whose financial conditions only
worse than that of the Central OF New-Jersey
But the Pennsylvania and tho Baltimore ana ONO
clash at other points than between New-Nork ana
Philadelphia and their interests in other fields OF traffic
are so anagoDistic that nothing except snmeiene
amount of busines employ both Will establish peace
between them. Both are powerful corporations the
Pennsy vana the greatest II measured by It's roll OF
liabilities and control extensive connections. tue traHic
OF which az COMPARED to that between Newly ork aud
Philadelphia is rs fly on cartwheel Mhht was uone
In the stock market nc the opening could as well nave
been done without tho publication OF the Phadelphla
story stocks so cliqued that prices naue ony TO-
neot the wishes of few operators But the story FUR
nishcd excuse aud gave 10 the markets reasOhaDio
appearance. which would have been wanting II
publication II Interesting note that some stocks
entirely disconnected with trunk line affairs advanced
sharply those supposed to be directly Interested
any combination for peace tso'calledl OetWeoh tiJ
River For IN stance Union Pacific opened up y at ~
while Lake Shore and Central ana Hudson opcheu
respectively e aud Il higher, ana Central OF new
Jersey which Philadelphia story left out IN the cou
opencd of only per But first prices were wei
sustained aud later the figures were doomed on eports
from Commissioner Flnks Office that east-bound rates
were ordered DO restored TO the 2O-cent gram
rate from Chicago on October l. This ORDER may
possess greater value than did that OF July ~ and OF
date about the middle OF August OF when u Is
repetition, but knows better than DO railway OF
cals that its mprov is virtual retirement from
business for the time being; that the railways during
the secured the moderate business thI
the water ways would not compete. All these things
affect the stock market only to the extent OF encourag
ing q larger trading. The public seems TO have come
to appreciation OF the fact that II Is business anu
able traffic. Wallst banks and spectators
do not yet to realize IT, Hence II ia,
with all thefayOrable reports that nave Deeh
current since July !, OF railway agreements and
many advanced rates for transportation that the
stock speculation circumscTbed ut the end OF
September than 1t In midsummer ana that the
500 900 In the last three months. From the open
ing figures. with few exceptions there were only small
declines and the market closed strong ut the best sue
government bonds were dull and strongi bids were
s higher for the IS and Is. Annexed are the Closing
quotations: