New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-01
CToSI,SG PgICFS OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.


TAXING IT, all in all to-day's dull stock market
was not without its interesting and suggestive
features. The dealings show that despite pre-
pared pessmistie interviews for the Endorsement
of a certain class Of railway officials the bears
again have been caught playing with edged tools.
Dulness did not work further depression, while
only moderate efforts to recoup short contracts
made material advances in prices. Philadelphia
and Reading stock, which, be its merits what they
NAV. has been numerically hammered during the
last few DAYS. and although an old suit OF some
twenty years standing was trotted out to aid de-
preston, advanced full l per cent, with trans
actions only two-thrds of those of Monday, when
its price broke below AZ. There are no
bulln cloues in the market marking prices up
and forcing the q" bears" TO come to the captains
office and settle. They sell them down az Will
by Offering more stocks than dull market VIII
Immediately accept, except at concessions. Nheh
they attempt to repurchase they turn the market
ON themselves, simply because their low sales
have failed TO bring "a following of real stocks
The new " Big Four and the new Chesapeake
and Ohios continued to be special features III the
market, and, although not closing at the DeNU
prices of the day, they all developed strong tone
which is based on their present merits, with good
PROSPECTS, for great improvements IN thOse ihcIlts
The burlington ana quincy Stdtc4HCIiu AVi Jun
and for the six months, presented below, SHOWS
how unnecessary was the policy pursued oy Inao
company u year ago and more Uhah
fully confirms the justice Of any criticism maze
ON It's mana cement There is no reason why last
wears results were SO bad, other than those
furnished by the reckless policy which the man
ageinent of the Burlington and Quincy originated
and pursued during the whole OF SeS. Ana
yet the stockholders almost Unanimously gave, -
BE old management their proxies for re-elec-
tion, and permitted the mana cement 10 vote
Of confidence themselves.
At a late hour the report OF the earnings OF The
Atchson Toreka and Santa Fe for the tlurd week
;u July showing loss Of IS 900, WAS published.
This furnished an excuse for the selling of that
stock down from SO So 10 80 3-4a35 7-o ana
encouraged free offerings OF all stocks on a duA
market Why ST. Paul, Union Pacific or Read
me inc should be sold because Atchison shows
loss, while out of fortynine companies wblch have
reported for the third week of July thirty-seven
companies have reported gains averaging over l }
per cent, we leave 10 be explained by future ef-
forts TO rccoup the short" stock sacrlccd
That wonderful item OF news about supplying
Chicago with natural gas from Indiana, teec
Chicago Gas stock, is an old story, which Whs
fully told in this column last May. or the In
diana National Gas Companys stock, the Chicago
Gas Trust" owns 81 per cent. In last May we
said that as soon as the highest court Of Indiana
confirmed the decision of the lower court. that
the State law forbidding the carrying OF natural
gas out of the State was unconstitutional, the
natural gas would be introduced into Chicago
for manufacturing and household fuel and would
be distributed through the idle mains OF the Chi
cago Gas Trust" And yet project that The
Chicago Tribune has fought against for months
at every inch New; York is grayely told, is just
heard of for the first time" Chicago news
vendors, next 10 Philadelphia entitled to take
the cake. Under the depressing effects Of this
astounding item Of news, Chicago Gas Trust,
which yesterday sold at "a "a, today closed at
So "a The suspicion is warranted that insiders
who wanted to buy. instigated the old news in the
form it was given.
The " trust" stocks give indications of new life.
Tho listing among the unlisted of Southern Cotton
OIL at 7Oa7l did Not depress the value of Amer
lean Cotton Oil. On the contrary, that stock
developed more life than it has done in some
time before from 50 5-s it rose 10 80 IS, reacted
to 53 and closed quoted at 53a53 1-2, despite
very bearsh article it issued from the local
" bear" organ. National Lead was rapidly soh
of from % LIS TO 81 rs; at about %, the
" recorded" transactions were large and IL closed
at % IA. Sugar rose to 1l0a1O0 5-s.
The general market closed strong at concessions.
TIE DAY IN TIE BOND MARKET.
In Government bonds the sales were covered by
81 900 per cents at % Is. Quotations were
steady as follows: