New-York tribune., 1886-04-02
CLo,TyG ygIOEs or PHILADELPHIA srOORS

THURSDAY April IL. NJ
Labor disturbances and strikes are not without somo
significance in measuring tho changing conditions
Of the general industries OF country To go back no
further than s3 there important labor disturb
aucea uriug % depression and the succeeding
wears OF 1874 1878 and 1876 Daring all that time labor
submitted to reduction OF wages to meet
the necessities OF tho time and gladly ac-
cepted such pay "a offered. II was In
1877 that tic great railroad strikes occurred and that
labor everywhere was agitated and demanding an in
crease of pay. Then ~ now some employers. who al
WAYS have treated their employees as
copartncrs in tho proh;s OF the business
nnd who always have reduced wages without
a Eurmur Of dissent from their wagc.earnes. because
they always havo equally prompt to restore wages
hout being asked to do so had voluntarily fully or
partially restored the Old basis The sequel OF
The strikes of 1877 showed that the strikers
Of that period among the first to dis
corn the Improvement In the general situa-
tion. As railroad operatives they discovered tho
greater movement OF freight and tho a--cr passenger
traffic even before 1t reported by subordinate Of
Gcals to their chiefs and it is matter of history that
The great advance in the price of securities, which
eliminated in IHfdsu amer OF 1881. dated
from the strikes OF 1S77-slow and fuciustng
at first but still continuously progressive,
even before resumption of specie payment on Janii'
ary l. 1879 In view OF thee facts ami Of he existing
Labor troubles 1t Is All interesting qespa Is h'lor!
about To repeat itselfl
To-day's stock markets. simply strong with duil
movements. There seemed to be a triile OF I'M
movement In the of the business done tat',
there was some buying bni 1t was too insignificant
TO marx na effect. During the first three hours
the tone was strong. with limited amount OF dealings
and good advances recorded for valueof the gen
eral is, When the market became intensely dun there
WAS pressure 10 sell which reduced h-urcs generally
nearly to the opening prices. As the
pr.ssure came from "bears" later Efforts
10 recoGp the stocks sold impaired some
animation 70 tho dealin IS and restored eooi SHARE of
the loss from the best figures. The bearish Influences
,yero kept a, work through tho agencies Of the news
bureaus by the circulation of gossip which originates
rucipay in the offices OF brokers. One report went
80 lar rs cay that no st. Paul Company bad reduced
lis rates for freight from Chcag" 10 s. Panl and Min
ueapplis from G003j cents to 10 cents and from
81 70 : cents We holieve the fact is that the
company has reduced its rates 10 cents first second
and third class aud cents Oh tho fourth class. Reports
also wee received 0. scouraeing character about the
earnings the Central and Hudson and Lake Shore
reads AZ thee roads make reports and will make
more TIL the middle OF May, Tor the quarter
just ended, it IL sac say anything about
them any one ploascs with the expectation
that Wall Streets short memory will not recall IN Nay
what Is said Aprl l. But every knows that the
Central and iIucson receiving cents lie
bulk OF It's passenger business against one cent
year ago. and that the both On Central and
hudson and Lake shore are now more than three times
onr experience greater efforts ny the
circulation Ol damaging repOrs, very few Of which are
ever cphrme 10 u' pres. NieS 81 te >ock TX, nhnSe
aud with prices yield hard. And they closed
strong ut better ngurcs than yesterdays last despite
the warning W IN organ tins noriing tnit: Ihe stock
market "a ssio from lie word go. tiS morning" The
l.t prices about tho lowest Of the day.
Tlo demand for Government bouus continues to be
but 1t TO the cents the bids Tor which
nominal TIL i, y owcr, bat bonds offered. AN
nexed are tho closing quotations: