New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-15
T'rI % Co.'S FI2,2Io. 5J8 e v3I5IZ D'V' F-7VooV
Tile STOCK SPECULATION Dull.

THE SIOCk SPECULATION OUllL
A weeks record Of transactions in only 1,0T,-
05s shares of listed stocks tells the story Of
last weeks dulness in the stock speculation. Yet
the market was called upon to stand another
severe test of its character. Next to dulness tine
predominant features were strength and conf
dence. Atchison, Topeka and Santa Fe nuctn-
ated about Z cr cent, and declined from 20
TO 81 l-2 OK div. The movement IN IT. seemed
10 be only n repetition OF the ST. Paul opera
ton when it declined 10 per cent one month
ago, 1t seemed to haye been engineered both
who sold St. Paul down to 60 IL and with the
same Improbable result PROFESSIONALLY the
intent was TO dcmoralize the home market.
Paul manoeuvrc. Boston did not scare; neither
did it's banks fall neither was there any forced
heavy liquidation in AtchisOn stock. -,
The recovery on the following day after the
decline was more rapid than had been the fall,
and everything remained as serene as II the stock
had not fuctuated Is per cent. Everything
indicates that the whole movSmeHt was a pear,
raid and a bear" failure. The only effect upon
the genaral market was to chcck operations
rending the seeming uncertainties OF the con
dition. The final changes for majority OIL h ,me
generally are gains. Once more it IS developed
that stocks are rot in the hands of rocm-traders
nor scattered among the average conlnis So;r
houses II they had been, the Atchson aitalr
would at least have created a momentary hurry
All it did do WAS TO increase the outstanding
short interest. .. : ....o
shown BY the continued efforts OF the prlnclpal
bear" organ to create distrust in behalf OF its
patrons than In the daily loan market where the
standing loans of stocks are renewed by "lnKs
and mods between the borrower and the lender.
A market as dull as last weeks was where the
liquidation on either side was hSlg rl,nt
TO be equally dull. Even St.. Paul, which
continues TO be pounded orally and in print despite
the influences OF the week, closes with gam OIL
So per cent Predictions that the company
will not paw another dividend on its autumn stock
in five wears probably will not aid the bears
either TO further depress its value or to Duy PACK
their contracts, particularly when the same ali-
thority admits il the company earns as mnch heO
in the last six months OF this year as u ana III the
same period of s87 it can pay it's dividend on the
preferred stock and come out even for the year.
= With the heavy business in sight, ana properly
managed. the net earnings Of the current SIX
months should he much larger than they were were
last year These points are worthy oil nOtlce only
because they betray the efforts and anXieucs OF d
large short interest of the existence OF which mere
is abundant evidence for any one who DIPS De,
Meath the snffacc indications. The analysis ot
the railway earnings given above sho,lld ne Ell
,irelv satisfactory From one end OF the country
IN the other railway officials are complaining OIL
lacl, of equipment TO handle the traiic offered
them. ana rs yet there has been no important
movement Of the new crop. The money question
Is now placcd beyond the sphere of discussion;
All these things may not be the reason lOr VIII
.neculation in stocks, but they furnish cola com
fart 10 opcrators who have contracted to denver
securities which they still have to buy. IL, now
ever is not likely that the market VIII S'ahu SUI.
/ Snhjoincd is our usual table, giving the nnmDcI
Of shares sold of all stocks, the highest lowest
and final prices of the week, together with the
FINAL prccs of n week ago. prcliXed by the aVeraS1
prices of October ID, 1887:
WEEKLY RANGE