New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-20
MORE ABSURD THAN TT APPEARS.

Friday, Oct Up m
II our readers will kindly substitute the word
anxiety for amount they will be less shocked
at the absurdity OF slip which this morning
printed the following: 1.-THE general situation
remains unchanged except that the Union Pacific
movement has added to the amount Of the shorts
in the general market" And yet measured by the
comparative activity of the stock loan market this
morning the statement as printed does not appear
to be as absurd as it is. The greater activity In
the loan market was unquestionably due to yes
terdays more active buying and selling of stocks,
which necesstatcd the changing Of loans. Any
increased activity and greater demand for stocks
in the loan market Monday morning will not be
due 10 that cause, but to an enlarged short in
tcrest made by to-day's operations The addi-
tional anxiety OF the bears however has been
fully developed by the days efforts to depress
values Never were greater exertons made and
never before were molehls more industriously
magniied into negative tin-types Of the Andes. A
failure OF Chicago firm, which has been engaged in
an attempt TO " corner lard, was made to appear
OF immense I'M ortancc u statement was made of
the firms liabilities estimated all the way from
one to ten millions of dollars To any one less
than a millionaire the wide range OF the estimate
would seem Of some Importance. private dis
patch from Chicago, saying that the failure there
was regarded Of no Importance was refused publ
cation. AT the last moment however. private
dispatch that the firms liabilities would not ex-
tack was made on Missouri Pacific and supple
mentary statement was made by somebody. put
ting the earnings from other sources in the
year ended June 30, 1888. Mt 81, 81 ,435. against
s3,0l4.261 for the year ended December 81 1887.
As both periods include the time from July to
December 81, 1887. there is good reason to ques-
ton the correctness of the figures printed today.
The company should not permit moments delay
in putting forth full statements showing its ex-
act condition. and how. If it is true: its report
made TO the State of Kansas under the laws Of that
hae IN
II is no longer n private corporation owned by
one man. The figures published to-day contra.
dict those tecrraphcd yesterday by the company,ss
general manager. However, the stock was sod
and washed down from 10 7-Sa80 Ia TO rs 3-4a
rs 10. At the same time Atchison in Boston was
marked of from G7 l-2 TO 62, and the ar was fnll
OF rumors Of financial troubles at the Hub. The
private dispatches received from Boston after the
close Of business denied all the rumors Of trouble
asserted that there were none and that
none were anticipated, and that money was
usually easy at per cent Tomorrow the
Atchison manager will issue circular letter
to its stockholders, giving, as we are informed, an
explicit staten mt of its condition requirements,
what has been done Z, hurt them and its pros
poets.
In any ordinary stock market Of speculative
character the combined forces which we have
detailed. and the eXaggerations which attended
them. could rot have failed TO work at least tenn
porary harm to values The result is that after
an active and strong opening and further advances
for the active stocks-Cnion Pacific rose i-S per
cent-there was an unnatural decline. one which
without any exceptional cause, would have been
regarded natural reaction after the rise since
Tuesd,y noon. Again it is developed that stocks
are not held where Wall Street gossip and in
vcntons have an influence. The day was not a
Waterloo for the bears but they Tailed in their
nurposes and the market cannot be quoted other
than strong at tho close.
TIE DAY IN TIE BOND MARKET.
The Treasury purchased S325,400 bonds. The
syndicates which offered 81 10000. 900 A. at 129
week ago arc still holding for a turn 2? while
refusing late at 121 IL. There
were no sales at the Stock Exchange, and the
nominal quotations are as follows: