New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-12-14
oLosIxG PRI0ss OF PalL40ELPaIl Sr00xs


The stock speculation to-day disappointed no one except
the bears" In Of the desperate efforts to create
Generalization every body expectinga lower range
OF values and opportunity buy some cheap stocks
Prices lower after steady opening, and in many
instances sold lower than the lowest Of saturday, But
excepting in the southern group OF stocks on when
The Aer- York Times two weeks ago was specially
bush at the top figures there were few shares offered
for sale that did representa- short interest
liquidation Of some OF the wildcat speculations in
that particular choice" lot of securities and OF the
recent rash operations in Philadelphia and Reading
unquestonably in progress Some new operators nave
discovered that there difference between buying all
of stock high figures it is possible to pay for
and convincing the public or money-lenders that the
unit value Is the bidding for it Of the parties who
already the whole OF IT, The "bears" have waited
patiently for this opportunity The overbuying OF the
Southern stocks and OF Reading, up to 3d. by rich men
was their goal Yet remains TO be developed If the at
tack upon the whole market, instead Of combining Of
the weak potss success or failure in specu
lation. To-day a more rational view OF the
effect OF the Interstate Commerce bill vas taken; IN
stead Of the question what will he its effect upon the
transportation companies their business and profits the
the question Of to what extent the Dill
be used by talk AMI print to brighten holders OF
securities sell and deter woudbe buyers from entering
the market The whole bear" attack upon securities
aside from that group southern stocks rests
upon the possibility Of soaring holders TO sell because OF
the Interstate Commerce bill and the semioical an
nouncement that when ave are ready to buy stocks the
Street will learn something Of the effect Of
locking up money" So far any law
affecting pools is concerned every one
knows that they will be on par with the enforcement Of
the sunday law in the city OF NewYOrk that since the
first railroad pool made somewhere about lS76, the
prices transportation Of freight and passengers nave
reduced nearly so per cent; that as regulator OF
they have always proved to be failures that be-
ing Illegal in nearly II not every state IN the Union the
agreements never have had any binding force that they
have proved operative in good times only and that egs
laton requiring the formation Of pools with death
penalty attached would hold the ransporta-
ton companies TO an agreement When
there Is dearth of traffic So far as
the money question Is concerned IL
looked a little to-day rs II threat make the market
feel the effects Of locking of money was partially put
into practice Certain that the supply Of loanable
funds reduced below its ordinary dimensions And
equally certain that bears all day were trying
buy stock But the purchase OF small quantity raj
lied the prices sharply that the efforts were abandoned
and further efforts toward depression we're resored TO-
manipulation TO that end will be used-but the short IN
terest already reached dangerous proportions andu
Richmond aud est Point down 10 80 ana Reading 10
80 d3e there would be little question OF tne lmmeuale
course OF the market Despite the probable passage OF
the Interstate Commerce bill railroad officials seem 10 De
undsturDed and do not think OF curtang tnelr anuc
pated extensions or renewals To-day the lhonas IRON
" GENTLEMEN; We now prepared 10 make contracts
for limited Thomas iron for delivery IN
1887 our price Sl9 per FOR No and $50 per ton
for on board at Perth Amboy. VIII be pleased
10 hear FROM you within ten days. Yours ETC.,
Is. q. CLARKE, vice president"
This an advance of 81 per ton over the prices OF the
Thomas Iron Company 1886. Mr.. Clarke says: Our
engagements for pig iron for 1887 are tons up 10
this time. There twenty thirty OF our customers
yet 10 hear from and their orders Will bring our
engagements up to 100000 tons f9r next year IA.
We averaged furnaces in blast IN 1883 and at the
close or the had rUn hand this year the aver
number OF furnaces which have had in blast Is
eleven aud have had iron for sale for months
and II Is difficult Mi orders This Is the reason Tor
the advance, but there Will be little Increase In pr"nt
US owing 10 the advance in the prices OF coal and ore
MI Clarke added We sold forty per cent ore lion In
1856 than ever BEFORE and expect TO sell sixty per
cent more next year. Mr. Clarke will be disappointed
man II the effect OF the Interstate Commerce bill proves
to be what Wall street bears pretend TO claim for IT
The market generally closed lower than saturday Du.
considering the amount Of brought ana
the volume OF busness-over 100000 shares-s ent
tied To be quoted strong. -
Government BOMBS dull and steady with the bids
for 4ias on . per cent Annexed arc the closing quonI
tons: