New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-06-14
Surplus for stock 50 3s54O2 $3,5Q4,21G sf,19SGoi
CONTROLLING STOCK SPECULATION.

CONTROLLING STOCK SPECULATION.
The stock speculation continues to be within the
control of the =" bears'-th0Se 1arsighted persons
who foresaw cutting and slashing of rates by
the railroads when the tonnage was so large that
their equipments were unequal TO inc task OF
prompt movement, who foresaw the engineers
strike on the Burlington and Quincy Railroad and
who knew that at the opportune moment the Iowa
State Commissioners would let the steam on the
old granger movement against railroad values
But to-day it was necessary again TO set IN motion
the wheels of the rumor mill 1t started early, ana
succeeded in surprising its average product OF de-
pressing influences. The point was well circ1-
lated before business began that the " shorts
had taken advantage OF yesterdays opportunity
practically to close up their contracts The stock
loan market this morning and tili near deIYery
hour developed a wider demand to borrow stocks
than has been witnessed before. Several issues
commanded premiums for use. Further the Ola
bears" never put forth greater eXertlons to de-
press values than they did to-day-an effort that
probably would have been postponed If they had
covered" and were particularly " ANXIOUS Tor a
rally" Norvin Green's explanation of his connec-
ton with the New-York, Mahoning and western
Railroad" part Of the long,,proIected American
Midland Railway from New York TO Chicago
was used as Weapon e s haan
and fully equipped-on paper-as many Tunes as
there have been stock depressons during the last
ten years The only time it ever has been neard Of
were less than the cost OF a duplication. lt ma mas
developed one merit; it has nine lives. mat
with the alleged proposed Ere Issue h oI 6omu s
\
was the excuse for selling all the trunk lines
faster than O demoralized market would take
them IL was asserted and published that the
lease of the Oregon Railway and Navigation to
the Union Pacific would not go into effect, and
on on that Union Pacific and all the Oregops were
Washed down The lease of the Oregon Railway
and Navigation to the Union Pacing went INTO
effcct Jniy /. 1887: since then the Union racine
has RIM the property and handled all Its receipts
The Oregon Hallway and Navigation ao orga MA
ton is kept up as are those OF all leased lines,
to receive the rental and distribute it to IT'S BOND
and stock holders The joint lease to the northern
S.oon a,er has been completed, and perhaps
viii but the lease to the ee oTgon
Of the Union Pacific is not particularly oeSirons
that the obstacles to the JOINT lease silouia De
removed. IL is a long road that mas no Turn;
oay operations clearly indicate G saaG that
neither the burlington and Quincy manage mem
nor the Iowa Commissioners have yeb gwen Ihe ~
consent The market closed in Prices weak aI
some recovery from the lowest fgures'
TIE DAY IN THE BOND MARhEI.
The Treasury to-day received offers OF 80 90. 3oS
al OF i-2, and 81 600 900 As At 12S ohS si''T T
as were accepted, at 1877 rs and under. Inc
| local Government bond market was quiet at quoUa-
| Z; folln