New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-09
Total 41 co.'s 500 0G9 - 33s sos Inc s469499 80
THE FEATURES AT TIE STOCK EXCHANGE

THE FEATURES AT TIE STOCK EXCHANGE
At the Stock Exchange last week and over the
counters of large dealers there was no dmlhuIIOh
i'm the demand for good railway bOnus. Inc
speculative movements 10 depreSs the values OF
some issues generally not regarded as hrStclass
only resulted in developing a demand for them
at comparatively small concessions. These Facts
more readily reflect the actual condition at me
Stock Exchange than do the Temporal results
TO prices of forced manipulation. 1t Is getting
to be stale " chestnut but yet the remark
that on a dull speculation 1t is easy to force a
temporary decline in prices is as true as III was
eight months ago. when prices generally were from
: to ! = per cent lower than they are now Inc
week opened with probably one OF the strongest
speculative demonstrations against prices that the
stock market has ever witnessed. The accumulaI
tion of accidents during the preceding week ana
the uses which spectators were able TO make
Of the TreaSury's notification OF It's intention
10 reduce its deposits in National banks emDodeneu
the speculators for decline 10 make extraordinary
efforts toward that end. They had in their favor
the complete Generalization of the unlisted
DEPARTMENT of the Stock Exchange. y ne I'M
mrnSo losses which had been sustained by the
decline in that department was source OF en- EN-
barrassment TO many people"-so it was said On
this statement there were circulated the most
absurd and scandalous rumOrS affecting lhulNluuai
and corporate credit. The license IN 'hat dlrectoh
ptobably exceeded anything ever before witnessed
Tho scandalous character Of the rumors only de-
veloued the desperate situation OF the spectators
who sneallingly instigated them. Naturally such
reDortS whether they were based upon pfopa-
biii1ies or were absolute fctiOns, were equally
poverful in preventing the average buyer from
continuing his purchases ull the clouds r9iieIi
away IT. was this fictitious condition winch
cave 10 the SPECTATORS for a decline the entlr'
control of the stock market for the whole OF the
FIRST two days and q part OF the thru udS
in the week Prices slaughtered night
and left wherever an unprotected spot was
discovered Now let rs note simply AS one OF INC
evidences Of what was accomplished py an llls
expenditure OF fiction and violence thaI on no
dav was there a continued activity IN the marker;
In every single instance the activity began anu
ceased with the open selling OF pfolIssIojial
operators. ii only ny renewed OnsEiu7htS
tiat prices were again marked OFF from their
IecOvcres-cithcr small or great-to lower prices.
And vet we now read that Oit-tOld fairy tale that
the large bears covered most of their shorts
in the carly part OF the week, ana III lne heAJ Ic
there comes that plteOuS wall OF, give us the
market for a few weeks longer, III long afGu-
ment intended 10 show there can he no ease
in money till toward the middle of January.
The facts are that the delivery of stocks at the
hitter part of the week was more delayed than
i'm the early part, and the largest bears were
climbing for stocks on Friday and Saturday with
a rapidly that hardly would be justified in early
buying for new long account. We fear that
tine old apple woman this time did not have
ON hand a supply of Northwestern at ! 0S 81, of
ST. Paul at 6S A, Of JerS"t Central at 10 IA,
Of Delaware. Laclawanna and Western at 36 "a
of Philadelphia and Reading at 3s, of Big Four al
81 4 of Lake Shore at lO5 5-S of Missouri
Pacific at 60 "a, Of Union Pacific at &C 3-S. of
Northern Pacific preferred at ~ IA or of Oregon
Short Line Al 81, 10 meet the requirements Of the
great Dear leaders. or OF numerous other STOCKS
TO be sold at the lowest prices recorded on stop
orders Notwithstanding an active liquidation
If the short interests during the last
days Of the week, and Of necessity equal amount
of realizing for the long account. unless all
evidences are deceptive the short interest in
the market at the close Of business yesterday was
greater than it was week ago That 10 us seems
to he the speculative situation
Turning aside from the speculation 10 the con-
ditions which influenced those who have purchased
securities to hold at least until the speculative
situation realizes the phenomenal Improvements
in progress in what makes up the wealth of the
country. the past week has not been behind
preceding ones in recording additional encourage
ment. II is 10 be noted that III some quarters
where conservatism heretofore has spoken favor
ably Of the stock market only with bated breath
there is now an Outspokcn expression OF confidence
in the solidity Of the situation, and in some in
stances the opinion IS openly avowcd that those
who wait for the " January ease" i'm money
will pay higher prices than the buyers OF this
date.
Following is our usual table, giving he number
OF shares sold Of all stocks the highest lowest
end final prices Of the week, together with the
hnal prices OF week ago prefixed by the avera 90
prices OF December g, 1898: