New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-14
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

friday, DcC. Io-P' III
To-davs developments in the stock market, il
real. are of a startling character. we write oil
them with reservation, because they are new
revelation The readers Of The Tribune may re-
member that several weeks ago VIC SAID the Dahk
statement for that week showed lookup OF some
s.. 600 600 of cash, and that two weeks ago we
said the bank statement could not be accounted
for by any other hypothesis than that something
like 81 900 900 Of certified checks had been locKeu
I'D. To-day for the first time in n long period
the Sugar Reineries Company appeared IN the
market as a lender of money. 1t placed some
thing over 100000 at per cent on Tour
months time that comes within our knowledge
What it may have done beyond our knowledge we
are not guessing at. Experienced operators, men
of cool judgment that never lose their heads IN
any market. think that the magnates of the Sugar
Refneries Company who control It's finances nave
used their power to reduce the amount of loan
able funds in the market, have sold the general
market short and in connection with the
natural bears have used Sugar Trust certihcateS'
by the grace of the governors of the Stock In
change. to demoralin the general market.
If this supposition be true, what Is
the meaning Of the unloOSng of
pursc-strings to-day? In such a game some one
is certain to be cheated Have the Sugar mag
mates covered their shorts in the general list
from the sales OF their cCwOrkers
The days stock market WIS intensely dull
Early prices marked u decline from last evenings
figures. But subsequently. with small business
there generally were full recoycrics The coal
stocks, with less than one-half of Yesterday
transactions, made sharp rccONefleS, ana Inc
grangers ruled strong.
Late in the day one of the alleged news agencies
sent out q supposed report of the Missouri Pacific
Railroad for the wear ended June 80, 1889. The
I, il
Enthusiastically, and il acknowledges that It's
information is not derived from the official report
TO the State of Kansas but asserts thlt ii Is
obtained from another unnamed source
Therefore it attracted little attention, and the
price Of the stock improved about II per Gems
after the publication. 80 the asency Issued
later bulletin, directing special attention TO
its special news, and yet the price Of the stock
would not down, but closed Is per cent higher than
il opened. OF course We know nothing about
the Missouri Pacific Company that does not come
from official sources and perhaps We know little
then. We are not admirers Of any of its mdnaecrs
but we do not propose TO accept rs gospel the
outgivings of an irresponsible speculative bureau
in, Wall Street, whether its tend he "bullish7
beansh." II is too cheap commodity for us
10 trust. OF course II would be the proper thing
for the Missouri people to meet the statement
with an official showing, but if they were asked
to do that the reply would be that the entire gross
earnings Of all the railways in the United States
would not pay the clerk-hlre necessary 10 combat
Wall Street lies.
The general market was dull, with small auctua.
TONS and closed AT figures generally even with or
better than the opening prices There are likely
to be some Developments of settlement of vcXcd
questions in the Southwestern division of The
country during the next few days, which will
materially change the complexion of hIch
speculation as there is. Suppose Mr.. Gould by
concessions and compromises. should arrive al sal
sfactory settlements in that quarter and he
"bull" in action, under existing conditions whore
would the operators on the short side land
We have no desire TO panic among tbc
shorts any more than "A panic in which stocks
arc brought out of strong boxes. but the Short
interest" is dangerously large. and it may meet
with surprise before Christmas
TIE DAY IN THE BOND MARkEr.
The Treasury to-day obtained only si5I 200
bonds: Four per cents. sl36, 700 AT l27 and
- per cents Sl4 800 at ] o. 5-s Al the Stocl,
Exchange there was no business done in Gov
ernments and the bids for the per cent coupons
were reduced Is per cent. Annexed are the clos
ing uuOtatlOnS.