New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-27
Tweny-th-ee

eoui;anies SOFA. 500 So 2s0o34 Inc. s157,442 70o
And vet the cries Of no business and " cut
rates. continue be repeated just as if the weekly
rrturn # earning had not for a long period
sta nped 20 per ccntvt Wall Street reports lies!
le-'erdy's sales of Rock Island down l IA per
cent on snail transactions to-day were explained
by the publication in the bears special organ OF
the screed = an unnamed expert, in which the
statements It The company were attacked. 1t was
weak effoit, and unworthy Of notice only 70
direct attention 20 its own showing Of its object.
II claims to be an examination made at and By re.
quest of " ono of the largest and most influential
financial institutions IN this ctv.' The screed
begins as follows:
requested am nov aoe 70 TuppemGn .S, inc report
male to you in Mach last aad T PIeIoee se Dy
eonpettlOn and Granger have at last ebogt wrecked
capital this valuable property TO Lc
but sucS s i"f Believe lew Is the the case case
1t closes as follows:
1t will lie sad, sad thing sec the old Rock Island
e sSue a
%h IL Win this psa 81 fats oc Is tses
SG properly a h Sd T out e Rodns because S
sSSper share aRd nd the Rock ' Island IS under S.
Tee sadness which runs all through the article
is hertrending; but it probably is nothing com
the ~Wpert," if his pay for services depends upon
the vaue Of put" upon the stock. Just i'm
agne al expert employed by an influential fnan-
cal institution" to investigate the condition Of &C
counts giving TO his employers such language as
quoted ahpve-regarding the past and predicting
the future. Sad, sad indeed il is that many per-
sons think their readers are fools Neither the
name OF the financial institution seeking lnforma-
ton nor of the expert furnishing it is given
The stock speculation to-day was dull The
opening was ut steady figures. An attack on
Rock Island, in which its prices declined TO
103 1-2, started downward movement in all the
stocks Lake Shore again was sold accompanied
with a deluge Of reports of rate cutting by the
trunk lines il declined to 80. For time every
thing was in the silks. but yet dulness prevailed
The stock loan market this morning indicated 1t
Tie change in the speculative situation. Lake
Shore commanded a premium for use, and Rock
Island is hard 70 obtain fer delivery. The " eN-
pert should Immediately inform his employers
where the stock has gone which the friends OF
the property have sold out" It certainly is not in
Wall Street, and the phantom stock sold seems to
have been taken by some one indisDosed to lend 10
out. 1t was late in the day when the early sellers
discovered that although prices were off there was
q scarcity of stocks for sale An effort to recoup
only a small part of yesterdays and todays sales
started an upward movement that was in full force
at the close. Lake Shore rose PEE cent 30 go.
L5is'Fffn and Nashville rs per cent TO 50 ga,
Philadelphia AID Reading SIS TO 80 5-S, and the
market generally closed strong and higher than
last evening.
THE DAY Is THE BOND MARKET.
The Treasury to-tay purchased no bonds, the
ofleringsms4 ., O0O-beiDg at figures above ITS
limits. The local mfsket was duh. and although
effort was made to bull the quotations, they
were only steady as follows