New-York tribune., 1889-12-25
CLOSING PRICES OF pHILADELrnIA STOCKS:
WHAT WAS DONE IN STOCKS.

Tuesday Dec. 24-p. m.
Notwithstanding the fact that almost every
commission Stock Exchange broker is talking to
his clients about the possibility of a monetary
squeeze between now and the new year, and in
that way discouraging the buying of stocks and
curtailing their own commissions the days stock
market only reflects the usual seasonabe holiday
dulness The universally expressed sentiment
concerning the monetary situation is all there is
that permits money even at the Stock Exchange
70 rule as it did Yesterday and to-day at per
cent At this season of the year there is neces-
sarily more or less Of calling in of loans 1t was
so long before the Stock Exchange had an eX-
stence. But now the sentiment on the question
is such that if broker is called upon to pay of
loan at O:3O a. m, he rCshes incontinently
into the Stock Exchange and begins to bid for
his money before the average bank officer or
broker has learned from his mail how he stands,
and establishes rate for the day that the
"Shyoclxs" take advantage of and maintain
through their manipulation till near the end.
The bold men of yesterday and to-day who waited
for the frightened borrowers to get through with
their frantic efforts to get money I" in market
in which there was none offered" secured their
balances easily at per cent There has been
no question of supply of money this year. there
is none and there will be none. The supply is
more ample, but false sentiment at the Stock EX-
chaE.e gives the opportunity TO bears" In
stocks and to lenders to make rate which is not
warranted by the conditions
We invite clients Of commission houses To make
q note of their intended operations to-day, from
which they were debarred by the talk of their
brokers on the money question, and later TO COM
pare il with the results of purchases after January
l. after allowing for the fiction of the Stock EX-
change rate for money at per cent This money
question has been reduced to a science at the
O.
ton, and nine out Of ten commission firms have
become subscribers to it. 1t is the last hold of
the bears, and as it is general in the Street
for brokers to accept orders from bears" to sell
such long stocks they have in their Offices, it
is the brokers who become demoralized over the
appearance Of the nimble sNpence and who lose
sight of the slow shilling Of their long customers
We could repeat the names of several firms who
have sold stocks for "bears." supplying the de-
livcrlcs from stock which they held for long
customers. ,iy Wall Street ethics this is per-
fectly legitimate transaction; but it ceases to be
so when the broker pleads tight money to induce
the speculation the long side to sell out for
the benefit of the customer who is short" There
are two or three firms which will catch on to this
without the necessity of mentioning names. VIII
the bull' speculators in those offices do SOP
The days transactions in listed stocks amounted
only to 53754 shares and. despite the dulness and
timd efforts for depression, the market closed
strong at figures equal to, or better than, the
opening figures.
In State issues the sales included Louisiana
consol As at "a 1-S South Carolina Is, non-fund-
able at 5 IA. and Tennessee IS settlements at
"a l-2a74 5-S. or city bank stocks, Western
National sold t105 at 90.
In the general bond market the business as in
the share ma rket, was Of a holiday character: it
was unusually small. and vet still firm. despite
Of some advantag ges taken Of the dulress TO mark
fractional declines to helm along the bear" srecu-
ation in stocks. Wabash firsts and seconds and
Texas and Pacific frSts and seconds were conspicu-
ous for their strength. and Missouri. Kansas and
Texas rs rose TO III G110 IA, while tho es and
rs were neglected and slightly easier: Reference
is made 70 our full report of bond sales.
THE DAY IN THE BOND MARKET.
The Treasury Department at Washington to-day
closed at noon, and the purchase of bonds
amounted only TO $21 ,3OO-4 per cents Sl9,50O,
and a l-2 per cents $4,000. At the Stock EX.
change there were small sales of l-2 per cents
at 1855 per cent above the Treasury figures
and probably by some purchases TO evade taxation
Tho uototions are MS follows.