New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-22
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco. MAY 81, 1888.
A BOGUS OFFER OF BONDS.

MOuudy, WAY %l-p' LIZ
1t was announced to-day that Fridays offer
Of $1,000, 600 les to the Treasury was bogus
affair. To-day's purchases amounted only to
S., 700. The purchases to date have amounted
to S2l,19lOoO. The Fridays bogus offer, OF
course, was made for some purpose. What that
purpose was a mystery. All that is apparent
on the surface is the fact that Wall Street
agency on Saturday announced that the offer
came from Philadelphia. As it is the rule of the
Treasury that the sources Of the offerings shall
not be revealed this announcement occasioned
some surprise, and was not believed in we'll
informed circles To-day, before 10 o'clock,
the same authority intimated that the $4,000, 900
offer was bogus, and that no bonds under it had
been presented. 1t is singular that none Of the
regular reporters of the press Of the whole Of the
country, nor the agents of the Associated Press
resident in Washington during two days, should
have hit upon q fact which q Wallst news
agency gives out as probability at 9:45
o'clock this morning, and and that it was not
till after midday that the early suggestion of the
agency could be confirmed DIT the Department. The
event, which in no way affects the argument
that holders Of Governments are seeking other in.
vestments, does show that the policy Of the
Treasury, in refusing to furnish information as to
who the offerers of bonds, is erroneous, and
it should be an emphatic inducement TO the Secre-
tary 10 offer to pay for bonds at all Sub Treasures
at fixed prices, till further notice. Both specu-
lators in general securities and holders Of bonds
are interested in advancing the price upon the
offers of the Treasury to purchase, one class to
prevent the bonds being offered at prices salts
factory to the Department and the other in the
hope Of securing further advance on his figures.
is the master of the situation, and it is
immaterial to the Government 1.-THE people, and to
commerce whether the bonds are purchased now
or later when the autumn activity begins,
The railroads TODAY rpDOrted earnings for the
second week in May present the usual average:
five companies report gains ana two report losses
Out of thirty-eight companies that now have
reported twenty-eght which report gains give
an aggregate of 49, le7 699 against Sl,S75,s69 for
the second week in May, 1874 gain OF 1921 1886
s7l 2,O3e against soc, 0s5-a loss of ss4, O59 or
1886 per cent.
REMARKABLE STRENGTH SHOWN.
Considering the wonderful unanimlty of thought
and ideas which preponderated IN yesterdays and
to-days publications upon the situation in general
and the stock market In particular-no good In
sight-to-day's stock market developed remarkable
strength-a strength which must have lsappolnted
the fathers of the thoughts so freely given IN type.
n was a dull but a strong market. Even StPaul
common stock which was continued to be pressed
for sale at the lowest possible price, developed
amounted to e2,745 shares and it was
pressed from 20 3-S down to 50 l-S,, closing at
60 5s The os SISek T nad eomm aTSS
premium of 1-64al-32 per cent for use A few
hundred shares were bought in under the rule
for failure TO deliver; but thousands OF Sharcs
which were defaulted upon went over TIL TO-
morrow by consent; With no known bull
organization or combination in the market, the
- shorta sellers of it seem to have covered them
selves Union Pacific which a. iew GayT a aES
same nersons now managing the price CT St Paul,
today at 81 "a and with Gay
was done between SIS "a and 90 l-o, and II
closed at IS 3-8. Northwestern was strong all
the way out and closed with an advance Of
3-S above its opening figure. Reading was sold
down to e2 5-s, but it closed the same
Saturday at g. The general dHiness ana aSo s0
In the fact that ST. Paul, Union Pacific Reading
and Northwestern contributed $4,000, shares ma. TO
active stocks named, St Paul IS the only one that
does not record an advance. The Market closed
strong.
WHAT WAS DONE IN BONDS.
Government bonds were quiet with the bids for
the lbs advanced l-s per cent Annexed are
the closing quotations: