New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-13
TnE DAY IN we STOCK MARKET.
Tuesday, March I2-p, m

JueSday, march Up NJ
Il looks as II the Paris crisis OF last Satur-
day had been largely exaggerated for the benefit OF
London and home speGulBtors in American rail
ways A decline in the price OF copper like that
in the price Of wheat, after rampant speculation
in them, arc not events which should or will
shake the financial universe, unless gigantic
financial institutions are so deeply involved as
temporarily 10 interfere with the ordinary flow and
ebb OF money and credits. 1t now seems that
all day Saturday. when this market was being
supplied with bad news from Paris. the posi-
bility OF financial crisis had been averted by the
prompt action Of the Bank of France and IN
dividual bankers, who put up nothing without
ample security. Copper trust certificates may
auctuate in Paris aud in London as do Cotton
OIL certificates in our own market without any
relation 20 the general business financial situa-
ton Tho circumstances afforded an opportunity
10 attempt break in the values OF Americans. IL
proved miserable failnre-such declines as there
were not exceeding the fluctuations OF a dull
market.
To-day's stock loan market failed to reflect the
expected hrge reduction IN the s, aggregate out
siderable shifting OF contracts-returns OF borrowed
stocks from one element in the speculation and
an increased borrowing from another; and IN some
instances an increase in the aggregate " short
interest. particularly in Delaware, Lackawanna
and Western, and Philadelphia and Reading For
nearly month the coal stocks have been sold in
the price Of anthracite coal the extreme
decline In the prices OF the stocks has been
about per cent From time tmmemorial 1t
has been the custom OF the coal companies 10
open the spring trade with n reduction in prices
from those ruling at the end OF the preceding
season. To-day the new schedules were made
they are compared with the first schedule of
1883 as follows: Crate or broken, unchanged
egg and stove, 10 cents lower, and chestnut
(which twelve years ago was worthless 20
cents lower Now tho price OF coal will depend
M demand
poets warrant the belief that 1t viii be equal 10
that OF 1883, q belief in which the bears
seem 20 join II their desperate efforts 10 break
the prices Of coal stocks indicate that their
opportunity ended with the publication Of the
reductions in coal prices Delaware, LaclNawanna
and Western closed 1-2 lower than last evening
and Philadelphia and Reading 1-s lower
Tho other question Of the day was: Will
Mr.. Walker accept the Craftsmanship of the Inter
state Railwas Association With hopes that he
will not accept it, the Importance OF his acceptance
magni1ed. At the time Of writing the question
probably has been definitely settled. But whether
Mr.. Walker has accepted or not, the Interstate
Railway Association, like the Interstate Com
uierco law, has come 20 stay: and somewhere
among $1,000, 600 Of people some one equally
qualified with Mr.. Walker will be found TO take
the position. Neither the country nor its rail-
way system depends upon any one man. 10
was day IN the stock market when the bears
did oil the hard work, with generally small
final changes, and strong closing
WHAT WAS DONE IN BONDS.
Government bonds were quiet and bids for the
per cents easier. Annexed are tho closing quo
tations;