New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-11
y os1vc PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Tuesday. sept. up. H.
Af,er the last weeks steady advances in prices
for stocks il was only natural that period Oh
hesitation on the part of buyers-a waiting 1of
roaction on realizing sales-should come. IT. came
today 10 the extent that the business IN hsted
stocks was only 100000 shares, against 'he
daily average of over 3OoiOoo shHrcS
last week But il was not alone the hatuf"
conditions that worked such depression III values
as occurred The Chicago railroad editor' repre-,
,antno ms pecular elientage of pessmists stopped
all over with his surmises and possibilities ana
nerbaps of improbabiltieS, and out OF four lines
nr c,ot buiIt nm Quarter of column of illogical
conclusions. all for effect on the New-Iorll STOCK
t,,.o1oooo Of course il said that the pet OF
,ln burlington and Quincy management-'he
pr,lincton and Northeln-whch can neither make
. rot, into nor out of Chicago without the consent
of the DARLINGTON and Quincy Company, whose
tracks il uscs 10 reach the Western Metropolis
was dissatisfied with the decision of the Eastern
T,upl, lines not 10 pr0-rate with the lines west
If Chicago on business between the seaoohru ana
ST Paul. 1t is still this little road without
heoinniug or an ending that is 10 destroy al ''r
business OF the Western railroads
VIVA. folly il is. The business talked about
is lot u per cent OF the busin 'ss OF the great
Western lines Why il is than the chicago anu
Northwestern and the St Paul arrangements 10
not entirely ignore it and have the Doldness 10
hold up before the public the real culprits, the
Burlington and Quincy, and let the Burlington
and Northern seek carly grave, without mourn
e-s. except its Boston stockholders, passes the
COMPREHENSION of practical business men. buO
practical business men do not comprehend 'h'
magic of the speculative circle IN railroad manage
ment The present case, however, Il or a chaf-
acter which people are fast learning 10 compre-
hend The statement that little road beginning
nowhere, whose earning capacity at full rates
Der month is only about l-3 of the earnings per
week of the Chicago and Northwestern and OF
thc st. Paul. can dictate rates and policy TO the
larger companies is problem that the Chicago
railroad editor finds more difficult 10 enforce on
the belief of ordinary mOrtak.
That natural reaction reinforced by
the Chicago slush4 to which re-
erence has been made produced no greater de-
preston in values than that experienced to-day
demonstrates the solid character OF the present
stock market and the soldiy OF such specnla-
ton as there Neither roon-rhders nor Hght
margins could have wltbstOOd to-day pressure
against the Changers Excepting in Philadel-
dplphia and Reading DO whole market moved IN
sympathy, and the decline IN the Grahgers hardv
exceeded those in other stocks, showing how little
effect thc Chicago virus" had. In the meantime
the general conditions, which will override even the
Vaccinations OF speculative managers, continue
10 furnish additional indications that not rail
road in the country will lie able TO handle the
business which Will be forced upon 1t. These
little difficulties now trOtted out and made 50
much OF are Tor the purpose Of obtaining more
stock and not to sell But the object detracts
nothing from the absurdites Of Chicago's alleged
news TIE market closed strong al the hgureS
The speculative holders Of Government bonds
are So afraid that some one will pick their bonds
away from them that they to-day advanced th3f
asking prices IA per cent for the A. ana Is,
brt did NOT advance their bids In the meantime
Today the Treasury secures Sl12j00 Is at 12s
and 81 300 lbs at 10j 81, while the stock
Exchange records transactions of $4,000 IS at
l2SI-S The nominal quotations are us follows :