New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-05
CLOSING PRICES OF CALF ,NIA STOCKS
SAN FRANCISCO. April 4, 1888
tx divided rs cents.
MORE TROUBLE FOR THE BEARS.

Wednesday, Api1l al" III
The fresh discontinue that the bear faction in
the stock market suffered to-day was attributed
generally to the evident collapse of the Western
railroad strikes. 1t IS extremely doubtful If this
event. which was sure to be the result some time,
was the real occasion of the Improvement The
buying for the short account moreover, did not
fully explain the sharp recoil in prices The re-
cent decline, the elimination apparently OF pro-
tracted dulness, has attracted new buying for IN
veslmeut here and abroad. This has not been
SO large at any time as to alarm operators for
fal who were more deeply cngrossed in watching
and IN stimulating also the labor troubles on the
railroads west of Chicago. They overlooked, in
fact the constant withdrawal Of sound securities
from the market which has been quietly going
on for long time. The process OF Digestion SO
To speak, may not have been competed, but the
natural effects are beginning 10 be felt in the
fresh life and spirit lnpaIted TO the speculation
in stocks A prominent firm OF London stock
brokers' IN a recent circular letter, called atten-
ton TO the difference in prices of English and
American railway securities and in the returns
for the investment IL was stated that the Penn
sy.vanla Railroad earns 50 per cent more than the
LONDON ana Northwestern, but That It's STOCK Is
Jung, com paratlVely, at - against % Tor the
Lngllsh stock 1t Is not surprising that the Lon
don urn regarded the difference as altogether too
large, and recommended the exchange OF high
priced English stocks for carefully selected Amer
can securities
FORLuIN DUYlNG TURNS TIE CURlHNT
The persistent buying of stocks for foreign &c
count has turned the current OF specu alton. he
weakness vi sterling exchange at a time when
this country Is usually exporting gold proves that
the buying has been real lhe collapse OF the
Western railroad strikes, the near approach o.
action By Congress on bond purchases aud the
fears Of the bear faction helped to-day to make
higher prices IN every department oil the Stock
Exchange. Stocks advanced more rapidly than
they ately declined, and while the Granger shares
naturally led the movement, stocks which coIld
be affected only in the most remote way by the
Western strikes were hot behIndhand in the adj
vance. st. Paul was irst IN point OF activity,
and it closed with gain Of per cent Reading
second, but IL gained SO per cent North.
western and Western Union, Lackswanna and
Union Pacific were other striking examples. They
were in the second rank in the amount OF transac
tions, but their final advances were from / l-2
lngtOn and Quincy stocks recorded the largest
gains ga and l-2 per cent respectively,
because they were specially affected by the labor
troubles. The movement was nearly uniform,
however and the closing was only trlhe under
the highest points. The volume Of business was
the largest for long time, and reached nearly q
La I million shares.
The Richmond and West Point Terminal stocks
were a conspicuous exception 70 the general I'M
provement. The common stock closed Sc hig her
than II did last night and the preferred stock !
per cent lower 1t Is well understood that the
comparative weakness Of thcsc stocks was due
the company II Is expected that the quarrel
vii be brought 70 an end al the meeting OF the
directors tomorrow by the promised resignation
Of the chief executive officer.
WHAT WAS DONE IN BONDS
Government bonds quiet but strong on
the better prospects Of action by Congress on the
bill to authorize purchases by the Treasury. The
closing quotations were as follows