New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-14
wuAr WAS DnXE IN STOCKS.


duh stock speculation and reaction in
prices. which i'm an active market might b, re-
aordcd as the natural result OF rcalizations Of
nrofts. are III, plain record Of to-day's stock
market. Bnt it was not the selling of long
stocks which caused the reaction. After the
fashion Of the old Ncw-England preachers We
might turn the barrel over and extract from the
columns of The Tribune forty or fifty articles
printed since Nay II that exactly fitted the
description Of toddy's speculation. And at the
foot of each one Of those articles is TO be found
n line reading something like: " The market
closed strong in tone" or Despite the days de
cline we are constrained to quote the closing
strong Considering that during the last three
months the rurnor mill fOrrtelling dire disaster
to the railways Of the country and monetary
stringency has worked night and day under Il
full head OF steam it is interesting to record the
changes in values which have occurred. a Few
comparisons are sufficient 30 show how much
money might have been lost by following the tales
of the disastrous fne-tOoth combs. Burlington
and Quincy to-day is called weak at lOi, against
90 5-S May IA, Rock Island is % IS, against
% 3-s. Lake Shore is 04 IA eX-dlvldend against
1O3 j-s Chesapeake and Ohio first preferred IS
l-2, against 80 II, St. Paul IS IL -,
against g. "a Delaware, Lhciawana ana west
crn is 14j 80, against 1873 II, Lake Ere ana
Western preferred is GO "a, against 81 -,
Northern Pacific preferred is 81 II, against
g. Union Pacific is G., against 60 "a, Mlsso;rl
Pacific is - IS against II j-s, and Western
Union is 60. against Sc II. Here are few adj
vances that exceed ordinary fluctuations; bu',
that despite published news that was all pad
excepting the earnings, prices should nave maze
and held any advances in the LAST three months
shows that the market Is beyond tn control OF
f,a
which during the whole period have put forth
their uttermOgt power and influence Tor depression
These mild changes also show that there exists
10 wild speculation, except on the snort sld',
80 threaten stability, and that there has Dccl
little no dscountng OF the promised prosperous
traffic of this autumn. Bat aS heretofore, when
prices halted and the buying took rest to-day, tn
whole bOard-room contingent and many brokers
looked at the market ~ latigued." and suddenly
turned " bears for Il reaction. Yet at the day =
declining figures In" buying was much better
than the selling as will be quickly demonstrated
when tO-day's sellers attempt 10 rec0up their
contracts.
There is strong circumstantial evidence that
the bears attempting 10 Use the sugar
certificates TO dcTOraliZe the general market
Yet, despite speculative litigation and III" ell
plOyment Of news agencies, we speak by the book
when we say that the buying of SuClr below 90
is better than the selling. The stock to-day
twice huctuated between 100a101, and closed
at 0S ~ The buyers went home soon after
the Close Of the board. while the sellers were
about till after o'clock discussing the situation
and making predictions. Cotton Oil was fairly
active and after a decline TO - - to 80 is
and National Lead rose to rs IL from decline
to 90.
Despite The days decline for stocks generally
We are constrained 10 quote the market as closing
strong.
TIE DAY IN TIE BOND MARKET
The market for Government bonds was neglected.
while the nominal quotations were held in the
| limits of the Treasury figures, as follows: