New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-12-14
cIosIIa rR1cEs or pHILADELPHA sT0CKs.
WuAr VAS DONE N STOCKS.

z. !
This column for months has said that the only
bull" element in the stock market was q pubic
that slowly was absorbing stocks; taking them
from loans and locking them up in lis individual
boxes. waiting developments There is not
speculative clique or a speculative operator on the
"buln side that is worth pinch Of snuff, and
there has not been one in twelve months. All The
speculative talent backed by railway managers is
and has been devoted toward depression stock
Exchange brokers who are complaining Of a want
Of business have been paying and continue TO pay
a certain monthly subscription 10 spread before
their customers not news, but theories, which are
well calculated 10 drive out Of their Offices all
clients who are not pcofcs onal spectators IN
other words they pay out money 70 deprive them
selves Of the stan OF lile Nowhere else in TIE
world could such an open Inconsistency be dis
covered. But old fossils and rich mems sons
in the language OF an ex-president Of the Stock
Exchange, do rule and gradually are succeeding
in reducing the business at the Stock Exchange
to a game Of bragg and deception.
To-day's market opened in good FORM strong
and made some advances. 1t was limited and
narrow, as il has been for months, and as 10
may be for months longer il brokers continue
10 pay for rot 10 drive their customers away
from thn market. So after the early buying
orders had been executed. the market was sub
iectad 10 pounding and a hammcring, by
washing process. that il seldom has been called
upon 10 resist. The agents of depression were
more than usually busy in issuing news i? from
The West concerning the railway situation. lhey
received much comfort in being able tluthiully
TO contradict a printed statement that the west
ern railroad managers yesterday had signed
preliminary agreement We had this statement
Yesterday but knowing that such things were
not done jim q moment, knew before lnycstga-
lion that 10 was premature anu therefore did
NOT print st. The contradiction to-day. how
ever. was nuts % the bear agencies because
DO carricd with d. an assumption tMl an OF
Yesterdays favorable report; were false Inc
most dangerous encmy ar any cause ls t1e TREND
wlo runs too far ahead Of the facts. Discretion
is guoIty as valuable on tAe atlimt'lNc as
on M NEGATIVE side
Da,pit. tho pounding and siashing 90 values,
rri..s generally Ec-e NOT marked as low rs as
Yesterdays opening. and tho decline from .he
highest values of the day, considering the work
done, affords little opportunity Tor con. 81 'liotlo n
10 the workers The stocks are beyond lle reach
ton, and the holders are rnoicc."d hy luctua-
ti0us. Besides, ii matters a. the Yves, were
really rs bad as they to-day were reported 10 De-,
they are not as bad rs one year ago hates
everywhere are b cher than wear AGO. Tho I'M
provement is steadily increasing; the rush Of
business and public opinion age forcing % r.
formation; but r. is not so bc established i'm %
settlements are weapons in tine hands of the
enemy, good for one days use. Considering the
efforts made toward depression and the narrowness
Of the market, market stronger tnan to-day 3
seldom has been witnessed.
TIE DAY II THE BOND MARKET.
Government bonds were duh. but the ids were
fra fh fslf "Uflc stg ff