New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-07-26
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco July IS. lSss.
LIoUIpATING LONG ACCOUNTS.

Wednesday, July 25-p m.
To-day in the stock speculation proved to be
another for a liquidation of scattered long ac-
counts: one of realizatiOns of profits suddenly
accrued And yet the stocks offered first TO
realize profits and second because of the first, for
new short accounts found an absorbing mar
ket wider than generally was believed TO exist.
The opening betrayed some feverishness and anXi-
city to sell but the early and unmanpulated de-
mand was sufficient to impart strength TO quota
tions and take them higher than the previous
best prices of recent advances. Later, dulness
discouraged some small holders and encouraged
operators with bcarsh lnclinatiOns, and the sales
of the one interest and the hanmerlng OF the
other were not without their effect III the last
hour As a consequence, the final prices show
declines of from IL TO IL per cent from the
highest Of the day. We find people quoting 81.
Paul weak at Il IA the same people last Friday
were jubilant over its weakness at 3d. because 10
then had declined from II 3-s. This, only by
way Of an example of to-days weakness IN the
whole market So long as the Stock Exchange
exists there will be fluctuations, be the market
a rising or falling one In to-days dealings
PHILADELPHIA and Reading a marked feature,
and il is one of the few stocks which closed hlgher
than last evening, Inc business uone Al az ~
amounted TO 10000 shares; 1t SOLD up 10 ot
twice and closed at SO l-2-l-4 higher than last
evening The buying OF II was OF the oesg
character and done in manner which Indicated
a desire to secure the stock as low as possible anu
not to bull" it for sales. There Is no uouDO
that the first incomes to be issued August ~ l0T
the assessment Of 20 per cent on the stock VIII
next January pay IL per cent Il year
interest accrued 10 that date. Union Paclnc ruIed
strong but finally yielded TO 81 81; IL Is proper
10 say that il is the intention OF the Oears III
that stock 10 formulate out OF colgate nOyts
resignation from the Union Paclhc direction
story OF dissatisfaction with the Oregon hallway
les, and TO promise a lively and ruIn0uS h2nt
between the Union Pacific and Northern IacIniGG
no Is
only be necessary 10 remember that tic Northefn
Pacific is cnioincd by the courts from lolHlhg III
q Joint lease Of the Oregon Railway ana NaFlSa1
ton Company. and that at present IL Is mahascu
BIZ "a conservative policy with SlhgIc t9c ~
lis prosperity, fully to comprehend the mlehu anu
purpose of the publication. Excepting lhe , la.e
. bear rounding OF values there was hool.ns
I'm the DAVIS market that was unnatural 10 1he
situation. Realization of profits was IN orutr
again and the market broad enough 10 per
mir that without unnatural reaction Inc al-
ditional sale Of short stocks which temporarily
further reduced prices is source oil strength III
the future dealings it may be tomorrow or heAU
dav The market closed quiet at about inc
lowest figures of the day.
THE DAY IN TIE BOND MARKET.
The bonds offered to the Treasury to-day
amounted 10 s627, ZOO Only 81 600 As at III Is
were accepted, although $4,000 were offered at
l271-4 The local market for Governments Was
dull and steady at quotations as lOllOWs