New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-08
Mon .ay, Jan. Up. N.

Mon ,ay, Jan. Up. N.
The new week nc the Stock Exchange opens
with an active demand for FIST and second class
railway bonds and duh SPECULATION in stocks.
So far as immediate prices in the share market are
concerned the bears still have the making OF them
We are tired Of writing OF "bcar' influences on
prices, but so long as there is no active spccu-
lative "bull7 interest in the market failure 10
give credit TO the only active interest that does
exist would be n little worse than the play oil
Hamlet with Hamlet's part omitted Very lew
OF the daily operators at the Stock ESchanse
realize the extent of the existing sho-t interest
I'm tho market We have followed 1t daily Tor
more than year. Oar estimates Of IL are not
based mon the loan market OF yesterday or to-day
that is always dull following a day of small
transactions. Tho first question each morning we
ask our several sources OF information is not
What Is the demand for stocks today That Is
secondary 20 tho question What stocks arc
notified 10 be returned TO yeu7'
These remarks lead up 10 a better understanding
OF to-days dull market in which the total trans
actions amounted only 10 l6y,O34 shares Inc
opening was strong at higher figures under pur-
chascs for foreign account mat pur-
chasing or selling usually is completed
during the first fifteen minutes OF
business, by which time il is after o o'clock IN
London To-day, soon as the foreign Duylng
had come 10 an end, the bears took possession
of the market, and for a time made some de-
preston I'm prices. We write whereof we Know.
They distributed their orders 10 sell among the
best commission houses VI the Stock Excnhhse,
and firms which were conspicuous some two weeks
ago as sellers at the lowest prices then, To-Day
again were employed in the same manner VI
course the inient was 10 create the impression OF
- long, selling, aud OF course other brokers'
were present in the interest of the real sellers TO
lex up their own principals sales and such other
stocks as might come 10 market because OF
the seeming heavy tone and the apparent
" good selling
The fact that the scheme failed 10 bring out
any amount Of long, stock furnishes evidence oil
10 is beyond the influence oil local manipulation:
The coal stocks were particularly depressed. ana
there was much talk about dulncsS in the coal
trade The Oldest Inhabitants cannot recollect
II January, except that OF ssS, which followed
four months strike in the Iehigh regions, when
the coal trade not dull, and that good
portion OF the month the output OF the mines
was not restricted by devotion oil time ana hDor
TO dead work. The magnifying of all such
usual seasonabe stuff only oetrays the desperate
condition OF speculative interest that must buy
stock at some price or other. The general market
however, more than fully recovered from its mid
day depression. The stories about ST. Paul Dor,
rowing money 10 meet its January interest aud
about the floating debt probably are pure IN
yentions. But whether they are true or not, IL rs
certain that certificates never Will pc dehvered
TO fulfil the outstanding contractS-tne BORROWED
stocks.-without an importation from EUROPE
Settlements may be made at some hgures Inc
market generally closed strong
THE DAY IN THE BOND MARKET.
Government bonds were duh and easement
in tho bids denotes firm offering OF them, and
that the holders OF some 81 %, 900, 900 OF the As
offered TO the Treasury last Octobcr-are growing
uneasy and do not desire to make further accumu-
ations The closing quotations are as follows: