New-York tribune., 1888-08-24
CLOSING PRICES OF BOSTON sTucna
Boston, Aug %. 1889.
ONE STOCK PROMINENT N TIE MARKET.


In to-day's stock market the dealings In Della
ware, Lackawanna and Western stock held so
prominent and conspicuous a position that 1t over
shadOwed all other interests. Opening at 80 LA
l39 it steadily advanced Till II sold at l4l II
closed at l4O 3-s. As usual when any one stock
moves rapidly upward independent OF the general
market and without any specially new develop
ment for n cause, to-day's movement IN Delaware
Lackawanna and Western hiGdrance rather
than a stimulant 70 general trading. Whenever
there is such sudden outbucst OF activity every
one wants some reason ascribed for II, and IN
default Of any known new cause, theories Will
be imagined and find circulation. so to-day
every one was asking who was being squeezed
In Lackawanna Who is short OF it? ETC., etc.
overlooking the underlying cause that for months
has been quietly workings prosperous condition
Of the coal trade unquestionably, there was
some short, covering Of the stock to-day, but
that class Of buying was the effect and not the
cause il followed the development OF the strength
which carried the price TO iAO.
The general market was dull and only ruled
firm till after . o'clock. Then came news from
tho Chicago Central Bureau Of Railway lnforma-
tion of cuts in rates from chicago 10 81
Paul, by those imperial companies the St PauI
and Kansas City, Wisconsin Central and chicago:
Burlington and Northern. with expressions % oI
opinions OF the ruinouS effects the new cuts VIII
have Just before the publication OF this lmpor-
tant news p St Paul was raided' down to
u IA from Y: after its pu9iCatoTn ,i,ca r,on N
Pacific was sold by the Northern Pacific interest
from 60 to 80 IA, The last time the Nc:thern
Pacifc interest sold Union Pacific when u sued
out an Injunction restraining the Oregon Railway
and Navigation Company from building branches
in Oregon, il was AZ about o. When ooth OF
none OF either ST. Paul Union Pacific stocks for
sale except by scalpers seeking to make q
profit Of lsal-4 per cent on Their pnrch"soS maze
at the low prices Undoubtedlv tho Northern
l oil &c m driv Union Pqc1uc
! joint lease Of the Oregon Railway and Navigation
on its own terms. But, although 1t recently mas
! fort fed itself by the negotiation OF so.OO100o
bonds, it does not hold position 70 fight with
| out doing itself more harm than any one else;
/ And the Dutch takers OF its bonds probably VIII
not be slow 10 indicate tnat they do not intend 70
! furnish funds for the purpose OF depicting their
! own pockets Every day furn shes addnonal
evidence that stocks have gone into strong hands,
and are not held speculatively to any such extent
as in former times. If there was sucn a thlns as
d" bull' clique in the market we would have seen
ST. Paul stock cornered long ago. The short
interest in il is larger than any one realizes ana
with any bull7 manipulation of II, the more
frequently came the reports OF rate-cuttlng az the
West the more rapid would be the advance 10 the
price Of s.. Paul stock AS II Is inc specun1llve Nv,
long interest in it is scattered, and the rea holders
OF il are unmoved By either truth or fiction con-
| cerning the immediate outcome OF the business
| So il is with nearly every stock on the list and
what to-day OCCURRED in Delaware Lacllawanna
and Western probably will occur with every stock
that ever paid dividend. The " short interest
| in Delaware Lackawanna and Western probably
was as small as in any of the active stocks The
market closed strong.
OF unlisted securities dealt in at the Stock Ex-
change, Cotton Seed Oil certificates sold l.4OOD
at 3sa37 II, Chicago Gas 100 at 80 Is, Western
/ National Bank rs az 95 Mexican National GER
tliicates l2,60Ol at 3-4al0 l-2 Mexican National
Construction 500 at 90 l-2a30 l-2, Toledo, Peoria
| and Western 140l at 10, Chicago and Atlantic
Beneficiary i OO at l-2, St Louis, New Orleans
and Ocean Canal and Transportation first IS
| 100000 at al 5-sa5l 3-4. Toledo Peoria and
Western first A. 81. 900, ut 81 34, Western Union
| IS (sll 600 at 95 l-4aJ3 l2, and Mount Desert
Land 500 at 81 2jaS2 2 l-2
Money for call loans ruled at Ia and 2
! per cent with the business done about evenly
divided between the two figures. At the close
the quotations were l-2a2 per cent.
follows Exchanges. so4,So5,l73; balances,
! S3,ss2,519.
The Sub-Treasury to-day was debtor st the
Clearing House $500 194. Its net gain on balance
was s02 IL 75, made mp by coin gain OF 81 ,O3O,-
| 09i less a currency loss OF Sl02,019. The
| days operations covered Receipts S2,373, O4 /
| payments sl,4J5.s6s; resulting In general
3l2 coin and s2O073,ssG currency.
REPORTS FROM WASHINGTON.
The United States Treasurer at Washington re-
redemption.
The customs receipts were ss23.00l and the
! internal revenue receipts were 81 O,910.
TO-days Washington Treasury statement OF
cash hand and deposits IN bank compares WIN
the figures Of the last previous statement as lol-
lows: r,..
Net gold on hani s97 Os6 6Io el07 40 Inc es5 $50
Net silver o hd 90, o,sc4,sol 5O,5S4,750 Dec 21olSi
on hand d'1 ain s22 H167 400 Dec. s32