New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-21
oLosINo pRIcEs on PHILApEIpInA sTocKs.
WHAT WAS DONE IN STOCKS.
Wednesday, Feb. 2O-p. n


Naturally the speculation az the Stock Exchange
to-day was waiting one, Every operator was
anxious 20 know the probable outcome OF to-day's
meeting OF presidents at Chicago. 1t is 10 use to
say that the newly developed energy on the part
OF the Interstate Commerce Commissioners 20 en-
force that law is Of much greater Importance 70
the holders Of securities than the voluntary agree
ments made between railway. managers. Because
all spectators are united in giving 10 the agree
ment an Importance TO which IL is not entitled;
that is, so far as their judgment OF the immediate
effect on prices is concerned.
Hence to-day, pending an uncertainty, the
speculative Offices OF the Street were flooded with
Chicagos predictions that the farce OF the So
called gentlemens agreement will become huge
burlesque." These dispatches came by private
wire and were signed Day" the source through
which much Of the Chicago rot has found cir
culation in Wall Street during the last twelve
months Nevertheless, the weakness OF the bear
element was quickly developed az the opening Of
business IL was generally anticipated, and that
not without reason after yesterdays operations
that strong demonstration would be made aqainst
values az this mornings opening Prices were
opened fractionally lower than last evenings
figures. But II was the most tinid and weak az,
tack That has been witnessed In long time It's
weakness Of itself betrayed the character Of the
labt Two days operations. and 10 not necessary
TO 20 TO the stock loan market 10 discover that th
snort interest had beon materially increaeed by
those operations. An inquiry there however
quickly confirmed the impression which one re
ccelyed from simply reading the tape for the first
nfteen minutes Of business.
At the time OF writing the result OF the apncint
ment OF three more persuasion committees
occording TO tho Chicago dispatch referred tol
and OF to-day's meeting Is unknown, hut ali Tho
indications point 20 n full completion Of Tho or
Ganlzatlon OF the Interstate Railway Association
which will receive its greatest importance from
the fact that the associated RAILWAYS agree On
hld the Interstate Commerce Commission in tha
enforcement OF that law ''' ''
The market was extremely dun and the auotua
tons were very small Contrary 10 General
expectation toward the close there was n General
Improvement In values, which, in the last five
minutes, was checked by report that the ocree-
ment had been abandoned. SO far as this renort
was concerned, 10 evidently was premature and
we venture the opinion that IL will proye N he
false; at oil events, at the moment the rcnort
was circulated the Chicago meeting had NOT con
yened, because Its hour for assembling was
o'clock Chicago time which is 3 O'clock in Nev
York Despite this latest report however the
market closed strong at close TO the best aeures
Of the day.
THE DAY IN THE BOND MARKET
The Government bond market was extremely
dull, and the tone was easy with the biddincs
for the per cents lower. Annexed are the
closing quotations: