New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-24
CLOSING PRICES OF PHILADELPHIA STOCKS.
CLOSING PRICES OF CALIFORNIA STOCKS
WHAT WAS DONE IN STOCKS,

wednesday, Oct. Up. m.
Never in the history Of stock speculation was
tho effort TO mark lower values greater than il
was to-day Our General List tells the result
The Chicago operator who is " short more thou
sands of shares than his bank account warrants
a shortage of hundreds of shares WAS the
conspicuous leader in such raids as were made
Rniding the trusts which have no right TO be
dealt in at the Stock Exchange, and which have
been the direct cause of many demoralizations al
the Stock Exchange and an expense to
every legitimate broker ever since the
unlisted department was established, is slowly
but certainly becoming an expensive operation
for bear operators in the general list. The pub
lie is learning the lesson that railway earnings
have their value that the uncertainties concern
ing sugar and cotton oil trusts, which, being
private partnerships make no reports, have moth
ing 20 do with the general situation. SO the
bears efforts against the unlisted
department to-day were wasted and
their energies were without effect upon the
general market Even the " trusts which at
TINES were severely hammered, finally closed at
good Iccovcries from the lowest prices
The general market opened firm at some i'm
prOvement on last nights figures, but in the first
hour there were some sharp declines of l.Ial ,
per cent. The succeeding recoveries were quick,
and during the rest Of the day the tendency Of
values favored appreciations.
The money market, without legitimate reason,
is working easy There has been no reason eX-
cept that of manipulation why rates for balances
az the Stock Exchange should ever have been over
per cont There has been no liquidation on
the part Of real holders OF securities. The maxi
mum Of fluctuations in stock during the last weeks
has not disturbed or called for additional
margin on a single loan made by bank, rust or
insu ance companies and Therefore we are not
permitted to look for to-day abundance of money
at Ca4 Der cent But we can look 10 the fact Of
the free discus sion OF money manipulation for
cause of the easier rates There has no at any
IuOmcnt beer a scarcity Of money; it has been
only Il question OF rates between the lendc. and
the borrower, and the general comment of ne
New-Yorli pres has favored the lenders side of
the question. That there has not been panic on
the Stock Exchange, when all the commercial and
mercantile conditions favor material ad ance, in
values. is not the fault Of the New-Yorlz press
Ignorance and cupdty have worked
hand in hand to that end. But the bulk of the
good stocks was held in hands that were beyond
the influence Of momentary conditions of money
at the Stock Exchange. The bear manipu-
lators again have exhausted their resources and
again are looking Tor the sellers from
which they may recoup their new con-
recent purchaser Of contracts Lad better r,a-
son TO hold for large profit, than thev now have
but il is probable that the bears will be able 10
li0uidatc on a further advance OF 2a3 per cent
as Spectators have become educated up 70 the
poiut that that is all thee is in the limited ma rl,et
To-day's market closed strong at something of
the best figures.
TIE DAY IN TIE BOND MARKET.
The Treasury to-day secured only sl24. 900
bonds dt lis price per cents. So 600 at 2T ard
IL per cents. S3s, 900 at l05 "a. in the local
nor'tct there was no business done in Government
bond, and the nominal quotations were main
tanned follows.