New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-26
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco, May % 1888
THE BOND OFFERINGS.


The amount of bonds offered to the Treasury
to-day was only $47s.000. but Of that sum only
$4,000 41-2s were at the Treasury's present
limit q o. and that amount was accepted. Hold
ers who arc waiting for an advance are likely to
overstay their market and perhaps with more
active money market may be glad to accept
and per cent below their present ideas, as they
were last autumn. The Treasury's present figures
for the purchase of bonds-l27 for the As and 1O0
for the 4l-2s-are absurdly high, and some
per cent higher than 100000 OF either class
could be sold at in the open market if the Treasury
was not in the market as a purchaser There IS
not doubt if the Secretary would name its maxi
mum figures at which bonds would be accepted
on presentation at the Sub Treasures of the coun
try, that the farce Of offering them at per cent
above the market price would cease, and that the
bonds would flow in faster than they could be
paid for
THE SPECULATION is CHANGED
A change in the stock speculation has como;
and il came without the consent or aid Of these
operators who yesterday saw nothing but destruc-
ton before the whole business interests of the
country. Neither is it. entirely due to the fact
that the Philadelphia and Reading per cent
bonds have been taken by syndicate. The
operators who, till within day or two, have
masqueraded as bulls" and who at yesterdays
lowest figures hosted the! black flag to show
their true colors as dcstroyers Of values ovcrdid
their remarkable success and whipped them
selves. They secured the publication that promi-
nent trader in the market who has lately been
bullsh in his pIoclivties wos in trouble and on
question whether or not the operator referred to
could buy and pay, cash for the wealth OF the
is this kind of contemplate trading, which has
been in vogue at the Stock Exchange during the
last twelve months, that has driven out Of the
checf hn
to honest brokers. 1t has been game of cheat
your neighbor, which the new and inexperienced
operators have infuse1 into the dealings which
the last week. under their brilliant manipulation
the values of stocks have been sadly demoraiized,
while at the same time the demand for railway
bonds outside Of the Stock Exchange never was
SO large. II the time ever comes when the Stock
Exchange governors will devote their energies to
pulling down Of rival exchange, there may be
chance Of a rehabilitation Of its old prosperity.
The world is largo enough for all but the pessl-
cannot fail to. be reflected in, the methods and
dealings of It's Law members. The Stock Exchange
furnishes wonderful illustration OF inc truth OF
necessity that exists for the Stock EXCHANGE hav-
ing it's own special kilograms from all other ex-
changes Tho 80 p tns GTaV p"
here. vet every firm in the Street with London
connection knew that before our opening the
London price was 1T 70 CERTAIN 81 boa
II. in five minutes after that dispatch was sent,
there should be q change of / or 0 per cent; the
later public dispatch would wait the regular hour
before sending Il. while the foreign houses would
know Of it instantly, and trade in our market with
nortance in the eyes Of the governors OF the Stock
Exchange is insignifcant in comparison with the
necessity of crushing the little exchange around
The corncr To-days market was disappont-
m Ss to Yesterdays late sellers Aside from the
Importance Of the Reading negotiation. which Will
inot 70 morrow nor next week, and which was
not positively known till after lt t Se0sR s9srs
WIS q y bo accented Yesterdays late transac
fions as tho n0 beginning Of quidation The
market was strong at the opening; desp,e OF Inc
late Yesterday advised their customers TO sell out to
make it it uGtuatsd but ut brea IL aHd
~ closod stror Mt about the best prices OF the day.
WHAT WAS DONE IN BONDS:
Government bonds were dull and steady al quo
tations as follows