New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-11-27
CLOSING PRICES OF BOSTON STOCKS
Boston, Nov. 20, 1888.
RETURNING AND BORROWING STOCKS.
Monday Nov. 26-p. m


At the opening Of business at the Stock Ex-
change this morning it looked as If Fridays and
Saturdays transactions had resulted in a general
liquidation Of the short interest There
general and large notification Of return of
borrowed stocks. But il soon was developed
that the demand for new borrowing was greater
than the notices Of return. and that the short
interest IN the aggregate was as large ever.
Whether the double transaction-notices to re-
turn and the new borrOwing-was real shift
ing Of the short" account from one set OF
spectators to another, or only a scheme TO pro-
duce the impression for a moment that the short
interest was eliminated from tho market it IS
difficult to decide But it is known that the
deliveries Of stocks to-day were unusually back
ward. and that not over one-half Of the stocks
notified TO be returned was delivered to the
lenders The demand to borrow Northwestern,
Reading, Lake Shore and St. Paul continued up
TO past o'clock. and the failure to obtain the
stocks caused the defaults in deliveries referred
TO-
But notwithstanding the situation the specula-
ton was heavy from beginning TO end. There
was 10 such an attempt to rally prices on the
part OF the leading bears as one looks for when
they have made successful covering and are
anxious for market To make new sales AT higher
figures On the contrary, the whole machinery
OF the mill in full operation to irlghten
any one from buying a share. After the early
decline there was good recovery at about noon,
and the temper OF the market seemed to be
stronger. This was met by Board rumor that
s., 600 900 Of gold had been engaged for Wedncs
days steamers. The market yielded again to
pressure of sales, which seemed TO confirm the
rumor. II was not confirmed forgotten, and
prices rallied again. But at :35 p. M. the local
" bear" organ revived the rumor by saying " we
are tod' that such ts3,OO0,OQ0 to s1,OoOO0ol
will be the case tomorrow. The fact Is that
SPAS, 900 gold has been engaged for Wednesdays
steamer. Whether or not any more VIII go on
Wednesday depends entirely on the cable orders
received tomorrow morning, concerning which
one mans GUESS is as good anOtbers The
revival OF the rumor met with The success in
tended; it threw the local market into a cold
chill and prices again yielded, that the closing
was called heavy.
Omaha preferred stock was special point of
attack. and on recorded transactions OF 800
shares its price fell from 101 l2 to % l2, closing
at 90 ID. This is the stock of which 1t was
reported last week the dividend VIII be passed
last Friday The question of dividend for the
six months to end December 81 will come up for
consideration in Christmas week, giving full
month for the rumor-mOngerS TO ply their voca-
ton. they did concerning Northwestern The
amount of the preferred stock Is Sl264o,S53, OF
which the Northwestern Company owns over
100000. The amount necessary TO pay the
usual scmi-annual dividend of per cent Is
5337. roo of which over one-half goes INTO the
Northwestern's treasury. In SS7 the company
after paving per cent the preferred stock
carried forward profits of the year amounting to
Ss07.652 without counting S6Jl, 50l cash re-
ceivcd for land sales. The character of the late
sales of the stock. from 03 down to % l-2, is
developed by a premium Of 16i per cent per
day demanded and paid for postponing deliveries.
The market did not close at the lowest prices OF
the day, but they were close to 1t.
TREASURY PURCHASES.
At the regular opening of bond offerings TO
to the Treasury at 1890 today the offers
amounted only TO ssO,55O; per cents, s5o00O
at 100 Is This is because money continues
drug. The local Government market was dull