New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-21
CLOSING PRICES OF PHILADELPHIA srooas

MONDAY, Dec. 20-P. N.
The Stock Exchange markets to-day feverish and
unsettled This condition a natural sequence OF the
sharp recovery which had followed the great decline OF
last Wednesday For every seller Of 100 shares Of stock
the low prices of last Wednesday there had to be
buyer The buyer at the lowest prices OF today has
tempting profit inviting him to realize the nimble six
pence rather than wait the opportunities of the slower
shilling. But aside from a natural reaction
from the sharp 'ecovery OF the latter
part Of last week today's movements developed an
unsus pected situation. II the tactics employed to-day to
depress values on market which, except for the exc
cution Of matched orders, would have recorded small
transactions possess any significance they indicate that
the great "hear" leaders failed TO secure mini
mum part OF the cheap stocks sold last Wednes-
day. and that while they were powerful IN
making the low figures il else who gath cred
the fruit from their shaking OF the speculative tree Inc
monetary situation improves partly from receipts OF
money from Europe, the Treasury and other domestic
sources but more because the financial insti-
tutions which have lent their aid to the
creation OF the late srngency becoming fearful OF
earning unenvable public reputation Inc treasury
scale but they yet sufficient with the market re
ceips from other sources including gold Imports 20 &C
rate for None of the $9O0oO00 Ofgold
shipped from Europe since last wednesday mas yet ar
and arrival with Treasury payments and the dread
entertained by some financial Institutions OF see
type will place the money market beyond the
power of speculative cliques to control Reading anu
the two RichmOnds are still threatening elements IN the
speculation The Reading plan Of reorganization does
not seem "a IA he good the original SCHEME ana
the thinking public not 10 take Anliy
to its provisions The first charges are ie e
too large and greater than are warranted by
the actual mot Mr. 6Owens net earnings for series or
years II grave mistake to issue bond or any Khd
for the assessment stock. and viewed nom any
standpoint other than speculation AT the o.'Sh I-N
change the stock IL made worth less Dy putuhg hh
additional charge ahead Of II. To the stockhoider
OF 100 shares who holds IL for investmeng
his shares worth more, instantly after tne Oh
the $40 assessment than both shares and the SlOOO IN
come hond received for the assessment Will be- Read
ing stock to-day specially weak ana was drag on
the whole market AS intimated two days ago inc
Humiliation IN the cats and dogs is not competed but
the forcing process probably has ended, and AFTER
Hfte time they will have any influence upon the
market We suspect that next comments on nqlda-
ton will have special reference 70 the closing up OF me
'short interest which tonight seems to he greater WIN
both small and large operators than at any previous
date this year The latest war cry thaI
London must auidate r. seems 20 have hquldated very
RAPIDLY since last Wednesday IN shipping us SlOoo'oOV
gold to protect It's interest The decline in gold shipments
after this will be due easy condition OF money
here than 10 any advance in tho Bank or England
rate for discounts. full suihcency for our needs
il now nearly due at this port. An lndisposlton
10 make new contracts realization OF prohs on recent
purchases and considerable sales for the short account
made declining weak market at the close sui II
commercial AMI mercantile conditions are emitted 10
affect the stock Exchange markets the depression exist
iug here will be OF short duration
Government bonds were moderately active and easy
currency Us rregularly changed Annexed are the
auoeatonss