New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-07-10
CLOSING PRICES OF BOSTON STOCKS.
Boston. July Q lsas
TIE MARKET LAPSES INTO DULNESS.
Monday Tulv On m

Monday. july Up III.
The stock speculation to-day after a fairly
active opening lapScd into dulness. The stock
loan market developed more active borrowing
demand. II is possible that the whole seeming
increase in the demand may have been due to a
shifting Of loans consequent on the calling IN OF
stocks by lenders who since Friday morning had
sold to realize the profits accrued in the advance
OF the last three days But the opinion of shrewd
observers is that the outstanding short inter
est was materially Increased in the last two
days despite the moderate purchases Of Ole Of the
lcadings bears Till past midday the market
ruled firm at Saturdays full figures; London
was % moderate buyer Of its special favorites
and the home commissiOn-hOuseS were fairly
supplied with orders. After the morning busi-
completed dulness followed. and Of
that advantage was taken by some prominent
operators who were anxious TO have 1t believed
that their shorts are all closed out TO raise
values. The news of the day as TO
rate cutting and railway wars was as
dscouraglng as it has been any previous day.
The rates for dressed beef from Chicago to New
York reported to be down to 3 IL cents and
Oh live stock TO IL cents. These rates are
ruinouS TO the roads engaged in the business but
no one better than the Arrangements comprchends
how little these sensational rates for Stock EX-
companies. 1t is reported that the Grand Trunk
Of Canada has pulled out Of the fight, and gwen
notice of an advance TO thirty-cent rate for
dressed meats. 1t would have been credtabe
to our American mana gcmcnts to have taken the
initiative IN such a movement
II should not be an open question: Do railway
trustees possess the power 10 carry either passcn-
gers or freight at rates which do not return some
profit on the actual cost Of handling and hauling?
II the trustees were the ONncls OF the majority
OF the stock. which is not the case now there re-
mains a minority whose interests and rights are
bound to be respected. OF all the railway wars
that ever existed III this country tha' OF me
Western lines led by the Chicago, Burling-
ton and Quincy during the last Ten
months. ana the recent fight between
Eastern lines for which II j. still uncertain Wh'h
company Is responsible there never was less eA-
cusc Either incompetency or something else Is
clearly demonstrated. And yet. IN spite OF II, the
stock market since June > has shown progressive
advance in values subject. as IL was To-Day 90
small variations. There certainly has been n0th-
in- in the published news Of the whce three weeks
70 induce = new buyer to come into the market.
An old-tme holder OF Burlington and Quincy stock
may say he will the fight out and hod his
stock, but il is hardly suppO>abic that under en-
listing conditions he will increase his line and II IS
not at all within the calculation that any outsider
not already Interested will make purchase Of IT,
when the ccmpany's report for I'VE months SHOWS
net earnings less than one-haf OF its fixed charges
And yet there is market for the stock at about
1I2 Who buys it? The market closed steady,
with some small recoveries from the lowest prices
THE DAY IN TIE BOND MARKET.
The Washington reports credit the Treasury with
the purcbasc of sllG5O0 bonds If the offerings
were correctly reported, the Secretary advanced
his figure for the l-2s Is per cent TO lO' H.
There were no transactions in Governments ~ the
Stock Exchange. and the quotations remained IN
changed as followe