New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-09
Thursday, Jan. S-p. m

The stock speculation to-day developed no new
features. Bear:Sh local influences continue to
control the immediate figures. Today by manlp-
ulation and some additional short sales, prices
were marked off small fractions, Just as in TWEEN
ty-lour or forty-eight hours hence they VIII De
advanced by efforts to rccOup the small contracts
put ont There is nothing in it, beyond further
cumulative evidence that stocks are not held
by brokers on slender margins that they are
held, as never before, by actual owners who
are ready and have moved TO combine for their
protection against their managers when and where
those managers assume to carry on the business
of raiwaying on unbusincsSlille methods
Never before in the history of the country
have railway managers come TO New-fork from
all parts of the land at the invitation ~ OF %
few leading bankers TO attend a conference
And they do it now because the invitation is
command from owners, and not because the
bankers own their floating debts Show us
the railroad president who talks the most loudly
about his ability to conduct his own business
or whose reputation requires the SOLDERING flat
terry of THE Ncw-YorI Times" and will
name the president who at the secret conference
with the bankers IS the most obsequious and
innocent person present.
The first news published concerning to-day's
the local bear organ:
Presidents meeting adjourned till Thursday.
General situation was discussed, but nothing def
mite DONE On this report the market was at
tackled, and prices which had been improving,
declined 3-Sal-2 per cent. The Official
rcport issued by Mr.. Morgan Just
before the close was of different character but
in the limited speculation 10 was too late Ia
exert any influence. 1t was something to appoint
committee consisting of Mr. Adams, OF the
Union Pacific: Mr.. Strong. of the Atchison and
Mr. Bond, of the St Paul 10 confer with the
Interstate Commerce Commission as to the legisla-
ton of any plan that may be repaired and to report
at the conference on Thursday and IL was an
important action TO invite the presidents oil the
Eastern trunk lines to be present on Thursday.
All this indicates an outcome which VIII De an
agreement between owners and not simply " an
agreement between gentlemen who have ntue
interest in the properties they pretend to manage
through passenger and freight agents. 49,
This mornings loan market Indicated mat
yesterday s distribution of orders TO sell ana buy,
made by the same pen, made close connection IN
the market except IN the case OF Reading STOCK
hat stock in active borrowing new demand,
while there little or no change IN the general
situation Of the stock loan market For that
reason Reading stock to-day was the strongest IN
the market that Is in figures, and is exceptional
in closing higher than last evening; lotai trans
actions of only li9,500 shares, however WIN
all the bear" forces at work against no organized
nnpo>tion and small fractional declines as the
RESULT best tell the character Of the market We
should not omit to mention the great bear card
~ the day. The local bear organ sent out the
TntIowing: Washington SpeciaI-Ihe House,
nv n wore of 20 yeas to IL nays. recommitted
The resolution amending the rules back to the com
mittee This action ~ regarded MS fahl 10 tho
Union Pacific Funding bill at the present session.
'rhc sting of this is in its tail Probably no one
hos expected this do-nothing Congress u pass the
Union Ihciic Funding bill NJ this session; GER
,ninlv recent buyc-s of the stock have not cx-
ncctcd it, But the announcement OF tho
j fatality" was nude preteXt for marking OIL the
done than will be the rcbuying of the small amount
~ stock sold. because the buying done was of
better character than the selling The market
closed dull and steady.
THE DAY IN THE BOND MARKET
Government bonds were dull and easy with