New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-08
CLOSING PRICES OF pH1LApEArHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Monday OcJ - III
The efforts TO create financial disturbance may
prove TO be the sOundest foundation OF the specuL'
ZION in stocks The continuance OF call loahS
around % per cent to-day caused something hNc
decentralization in foreign exchanges, although the
tone of that market was not represented clearly
by the quotations When it is understood that
the higher rates for money were simply the re-
suits of sllul manipulation by operators for a
decline in stocks the actual situation Is apparent
The bear faction has used the opportunity to en-
cite money scare. in the hope that some part of
lis outstanding contracts could be covered al
proft. but its best endeavors have helped only
70 turn the current Of specie toward this monetary
centre 1t is not probable that imports of gold
,yill be made Immediately, but the bears in stocks
are working to that end. A prOtracted strlngency
in rates for money, therefore, may not be an un-
mixed evil III the present financial conuluoh OF
this country and Europe. The instant enectS' ol
course. are lower figures for stocks, ACCORDING 10
their availability as security in loans. Atkinson
was aglln first to-day, both III volume OF business
and extent of decline. Rumors of a reorganlza-
tion scheme involving large issue Of mortgage
and income bonds and heavy assessment on the
stock were set in motion when they were likely
to be most potential, and the stock closed prao,,
ticalV al its lowest point, with lurthef JOSS OF
| IS Ecr cent Missouri Pacific sustained
similar loss. presumably out of pure sympathy,
and n few other Western stocks closed
about Der cent lower. The downward move
mcnt was resisted however; by the general
market and Louisville and Nashville was con
spicucus by a final gain of is per cent The
average decline WAS a fraction
The weakness of the trust stocks next TO the
movement in AtchisOn serious obstacle
in the way of an advance. Sugar Rcfinerics
stock fell ,, and rallied less than ! per cent,
while Cotton Oil lost still more in transactions
that were nearly "a fourth of the total busin IS.
IL is natural inference that the fear of legis-
latiOn by Congress has stimulated selling by
Insiders in the Sugar Trust. although the increased
competition undoubtedly has reduced It's profits.
The course of Cotton Oil, which has been eX-
trCmely active might have been expected from
the recent announcement that the stock wac
soon To be placed on the regular list of the
Stock Exchange. This opportunity not
10 be neglected by the interests which sold freely
On their own predictions of a dividend in july
Next in importance to these influences was d
due to the leasing of tho property to new
corporation, whose charter formerly was an asset
in the companys treasury. The scheme proposed
to the stockholders may be adopted but the
selling to-day suggested little dissatisfaction
or a plain liquidation. The closing in both
the regIlarand unlisted markets was nearly
at the lowest figures
THE DAY IN THE BOND MARKET
The Treasury bought $3.50 of Al 2, at lO5 81
and SI2l, 300 per GEMS at l27; total, $3.50 600.
A sale Of $50, 900 registered Is at / 81 was made
as thr Stock Exchange and in consequence the
asking price was raised slightly The mia rket was
not specially strong at these closing quotations: