New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-20
CLOSING PRICES OF PHILADELPHIA STOCKS
WHAT WAS DONE IN STOCKS.


The stock market to-day was reactionary in
It's general character, and it was subject TO sew
eral nishapS. First the leading authorities
gave 10 the special report OF the Atchison,
Topeka and Santa Fe an Interpretation not war
ranted by its figures. The report covers only
eleven months of the year Of 1888, and the
Deductions from il are more favorable than was
anticipated from the partial statement for the
sane period issued several weeks ago. 1t is
hstory-not of competitiona-but of wrecking
tplcy adopted by some Of its competitors, OF a
,eriod that has passed Nevertheless, it was a
rood enough Morgan, or rather the Interpretation
of il was. to permit marking down the price OF
that stock from SO to SO 5-s in the first two
bours' business: in the last three hours the
fluctuations were only 3-s per cent, and the
closin0 at SO l-2 was the lowest OF the day.
The bears" in looking around for weak
spots struck Oregon Improvement, whcn since
January 2S gradually had declined from ~ TO
az Yesterday. Since April. 1888. this stock had
risen from 45 to 70. Naturally the advance had
induced some realizing on the part OF the large
buvers at the lower figures, who az the same
time talked of the merits OF the property exactly
os they since have done. II was discovered that
the stock was unprc tected in the market ana
hence dive was made at IT. ana ma, hV T maae
In the figures down to 80 l-2; IL closed however,
at 6l as The success in this movement tempted
AN attack on oil the 0regons, the Northern Pa
cinc and Union Pacific. stop ORDERS were SENT
and forced Union Pacific down TO ga 3-4,
Oregon Transcontinental TO 32 1-2 Oregon Rail
,yav and Navigation 10 94--it closed at 80 bid,
Oregon Short Line to 40 1-4-it closed at as l-2.
Nnrfhern Pacific to 20 7-S, and the preferred
stoclr 70 81 5-s The short" interest in ali
these stocks was materially increased, although
the pressure of stop orders aided the declines,
The buying was better than the selling
Next ia damaging effect &c the general dispo-
sition TO wait developments from the Chicago
,neetin0 wns a bunch of Chicago dispatches stat
inc that the Iowa Commission rates would be
nn7clsiv adopted by Illinois This was positively
denied also from Chicago. There also were cir
cnioted Chicago statements TO the effect that there
yas little prospect of success OF the Interstate
Hallway Association. These are only repetltions
of chestnuts which have been cracked for general
at every stage OF the proceedings
Rmt they were effective In causing hesitation
on the one side and inviting asgressiveness on the
With all these disturbing factors at work, the
"a manic TO selln was not so great that the intro
duction OF live mule with riders was not
sufficient TO quell the excitement for q time. 1t
was quickly appreciated that the Stock Exchange
for long time hal been subjected 70 mulish"
influences from railway managers and their par
ticular friends in Wall Street. Kicking
aeainst the country's growth and progress is no
novelty In the neighborho0d OF the Stock En-
ehange The market closed streng at the declines.
THE DAY IN THE BOND MARKET.
In Government bonds more than u usual
amount OF business was done at the Exchange,
and the quotations were firm as follows