New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-30
cIos,.c rp1crs OLE pnILApELpHIA STOCKS.
CIosTNG PRICES OF CALIFORNIA STOCKS.
WHAT WAS DONE IN STOCKS.

Friday, Nov. 29-p. M
The great Boston fire met the opening OF the
market AT the Stock Exchange this morning IL
and its then reported losses OF SlO,OOO'oVo "
s15 600 600 certainly were not favorable 10
" bull7 market Both bulls and bears eA-
nected that the market would open with reac-
tjonary concessions from Wednesdays loSlhs
6p1Ires Except in few special stocks IL ala RoV
do ANYTHING of the, kind decline OF 1-4aI~
per CENT marked the extremes OF the depression
in the early hours for the general lst. but 'io
bears" made gigantic effort against Ohicaso
cas and the Trust stocks dealt in the pet de-
partment of the governors-the uhiiSteu ucP"iV
ment-evidently expecting that the holders OF
stocks and contracts in the railway market would
make the market weak enough to enable them TO
turn buyers to cover. 1t was not till Boston us
matches were received and circulated, cutting the
loss on the buildings burned down TO
about 81 200. 900 and of stocks of goods to
-. 00O. 900 that the " bears" turned their
attention to the general market Of course
would-be BUYERS were waiting Developments. 10
sell the market off was the easiest thing possible
To do II was done, but IL IS noteworthy tDat
where there was the greatest depression was III
interest the furthest removed from the effect
of the Boston fire and from supposabe Boston
interest in the securities. MIR. Goulds Missouri
Pacific was sold down TO &C from 81 "a at the
openinc and against 60 Wednesday night but
even il before the close rallied 10 66 5-o The
points TO sell Union Pacilc-a supposed Boston
stOck-were more plentiful than strawberries III
June, and they all cmanacl from bear opera
tor in Broadway, but the stock sOld only o-o
lower than the opening figures, ana closed stfohS
AT about q, IS. ,
Concerning the Boston fire as factor in the
stock market the last estimate Of the loss is only
fbn a q
smallest railroads in the country. Inc insurance
is largely covered by policies issued by foreign
companies, that only "A small pat oil Inc
small loss falls upon this country. 1t has en-
couraged the bears 10 believe That the
chapters of accidents in their favor and large
" increased the volume of outstanding short
interest There evidence OF liquidation
of " long stock to-day beyond the point of SAFES
of bosrd-room traders who held few conSlctf,
and that was an mmaterlal part of tie 81 900
shares traded in.
In the last hall-hOur, in connection with mark
ing the money rate up to per cent, sharp drive
was made at values Chicago Gas was sold down
TO 80 and in other places where IL was possible
prices were raided. Concerning Chicago Gas with
the price . per cent lower than on tuesday, the
companies which supply Chicago with gas are sui
at work, are making more money than on Tuesday
because Of the shorter day, and ali they make
goes into the treasury Of the Chicago Gas Com
pany, unfortunately named Trust The prop
erty is there, It's earning capacity grows with the
city, and the prOfts from the business, which now
exceed ; per cent, cannot be taken away from the
tockhOders of the Chicago Gas Trust Company, no
matter what may be It's future name All entrances
into big bull markets have been marked by
some preceding ephemeral depression. Does the
Boston small" fire and the Illinois Supreme
Court decision in the Chicago Gas case mark that
turning point now?
Attention is directed TO the monthly returns of
railway net earnings printed below. That Of
Pennsylvania is phenomenal Canada Pacific
makes large gains ST. Paul for October makes
only small gain on last year, but last year al
this time that company was doing remarkably
we'll The Boston fire will not contract the earn
ings of any railroad; Of some Eastern lines 1t will
expand them. And in three days it will cease
IN the presence Of the general prosperity - at
tract any attention. The market. although at
lower prices, closed strong.
THE DAY IN TIE BOND MARKET
The Treasury to-day purchased S372, 800 bonds:
per cents $4,000 AT l27, and IL per cents,
81 $4,000 at 05 "a. At the Stock Exchange
there were no transactions in Government bonds,
and tn nominal quotations were held steady 10
follows: