New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-25
CLOSING PRICES OF rHILADELPHIA srOCGA
DULNESS STILL INCREASING.


The stock market to-day was dull than
yesterday. The totals of recorded transactions
were only 1915 shares against l55,257 shares
yesterday, and Of to-days total, three stocks
st. Paul Union Pacific and Reading-contributed
$4,000 shares. A labOred publication this morn
ing Of what Mr.. Gould had done with Union Pacific
and Wabash preferred stocks-an incorrect rehash
OF ancient history TO show what Mr. Gould will
do with Missouri Pacific stock-made il evident
that IL was the intention Of recent sellers of
Missouri and Manhattan stock to-day 20 repurchase
If the market would sell those stocks. The
market did not scare worth n cent. Missouri
Pacific was sold down TO 81 5-s, but attempts
to purchase it quickly rose TO SO "a; there was
marked absence Of stock and thereafter it ruled
dull and closed at SO IA with reported sales Of
only 1900 shares Manhattan behaved even worse
for the woud-be buyers; it opened up 5-s per
cent at g. ID and rose to 8s with sales Of 400
shares. At this rate the price would have been
90 before yesterdays sales alone would be re-
purchased 4 halt was called the next sale was
100 at 60 -. the next 90 at sc and the third
100 at So - the next 90 at SO Ia and then
IL advanced to and closed at 81 3 sales Of 800
shares. We are not discussing the merits Of
either property nor the question OF whether or
not anything IS wrong with and per cent
stocks which permitted to rule at such figures
IN the market. The figures show that the public,
which. despite all dcnlas. has been a large I'M
administrative buyer of some stocks, has not con-
idence in the properties; but we are only Illus
trating how the best and most intrcat"ly laid
plans Of spectators frequently fail Of fruitlon.
The scheme had failed: even the Gould stocks
were strong when any Onc-cvcn the shorts -
wanted 10 buy them. The situation was not
entirely different from that of the two men under
the tree next 10 the one struck by lightning;
somthing had to Dee done. and that quickly. \
hastv and poorly dgestcd conference resulted in
an attack on the Northern Pacific irSts with an
alleged cause that the Joint lease Of the Oregon
Railway Company made the Northern Pacific
liable for Oregon Short Line, and second on Union
Pacific because the first report not true.
Northern Pacific preferred closed ID lower than
last evening and Union Pacific closed l per cent
lower, both because of n pressure to sell phantom
stocks, which have got TO be repurchascd In the
open market or under the rule There is no
question about the narrOwness of the stock specu-
lation and II is I'm that fact that bears" who
are still short" Of stocks sold last March, find
their power over prices in their periodical raids
on values: but it is when they try TO buy back
their contracts that they more fully realize how
narrow the market is Measured by the rule
that has never failed during the last three months
dumcss. the Pacihcs-all of thcm-shOuld be the
best speculative purchase for quick turn. The
market generally closed quiet and steady.
WHAT WAS DONE IN DDNDS
Government bonds were quiet and easy. Bids
were off y per cent for the 4S and 4 per cent for
the 4l2S. Annexed are the closing quotations: