New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-06
CLOSING PRICES OF PHILADELPHIA STOCKS.
ONE BEAR SELLING TO ANOTHER
Wednesday, Dec. 5-p. m


Tho general sentiment at the Stock Exchange
daily develops growing bearish' proclivities
among the average traders, and the bulk of the
business done has come to be that Of one bear
selling to another as prices decline under such
q "sure path to fortune" 1t is a fact that
operators who four weeks ago sold 90 shares
short" with fear and trembling in the hopes Of
catching car-fare profit. now with perfect con-
idence so home to good dinners and evening en-
tetanments short" their thousand shares Fail
ing in shaking ont real holders Of securities, the
present speculative situation is the result that
the old bears" of a years standing have been
working to secure a scattering of their response
bilties to deliver.
To-days market again was heavy, despite the
reflection by the stock loan market Of largely
increased L" short interest Sell then for
brownstone front on Central Park" is the almost
universal cry. Perhaps those who cry it the
loudest are the ones who are filling their con-
tracts from the sales of the younger
element. But whether they are or
not the short interest grows apace and
up to date the real holders of securities are not
taking a part in the daily transactions beyond
here and there some further accumulations to
earlier purchases.
interest in Western Union worthy of note but
yesterday and to-day the stock has been freely
sold from 50 to 81 Is We are informed that
the scheme is to make public announcement in
a day or two Of the intention to form a new
telegraph company to build line from Boston
to Washington and thence to New,Orleans.
the announcement for speculative effect AS
to matters generally they are assuming better
shape. The trunk line difficulty is settled. At
the meeting of the Missouri Pacific Executive
Committee to-day, it was moved and voted
unanimously, that the general manager be in
structed forthwith to advance rates and not to
m raft
The wrangle about division of territory in
Oregon and Idaho between the Union Pacific
Oregon Short Line as lessee of the Oregon
Railway and Navigation Company and the North
ern Pacific is announced from Boston being
fully adjusted and entire harmony established
This VIII settle the litigation between the Oregon
Iranscontincntal and Oregon Railway and Naviga-
ton Company which has been on in the New
York courts since last June.
The personal differences between managers are
fast disappearing before the force of public opin-
ion. When they are wiped out entirely we shall
have less OF excessive railroad building as eX-
cuses for Encouragement, and values of railway
shares will depend upon the volume of business
offered and not upon the ruinous rates which
managers make while being unable to handle the
freight offered. Fortunately for investors, nearly
all the old railroads have accumulated good Sur
pluseS upon which managers were able to draw
for their fighting ammunition, and therefore the
folly Of the last year has not crippled the COM
panies They are in position to reap the bene-
fit of business done on business principles.
While prices generally closed lower than last
ev ening, the days market has developed power
of resistance which is encouraging. After
smart attack values at the opening, they
steadily hardened till in the last half hour. Then
and Reading and Delaware Lacl1a-
wanna and Western, beng discovered without
special support, were raided to the lowest prices
of the day, and alphabetically the whole list
yielded, except Union Pacific. which, after sell
ing down to 60 49, closed at 81 bid. The mar
ket finally closed strong at the figures.
TIE DAY IN THE BOND MARKET.
The Treasury purchased ST. 6s, 900 l-2 per
cent bonds at 10S. The rejected Offers included
$500 per cents at 1928 3-4. The local mar
ket was dull and easy at quotations follows