New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-06
CHASING PRICES or BOSTON STOCKS.
NLO'i4'' ncqtnn Dec \ 1850


As heretofore for several weeks at the Stock
Exchange there was little activity in the specu-
latiye market except where the bears assaulted
IT, And to-day-that is, so tar as was learned
there were few or no buying orders After
| dull7 and steady opening, drive was made
at Rock Island, and its price suddenly dropped
from 81 "a to 90 II, but there was no evidence
that any long stock was shaken ont, nor was
there an indication OF the presence of stop
orders On the contrary, buying orders were UNI
covered hy the decline, and the price gradually
went back to o..
New-York and New-Eneland was specially weak
under attack and sold OIL IA per cent to Al "a,
recovering at the close to AZ Ia. Aside from the
discouraing features Of the Ncw-Yorl> and New
| Engiands annual report and the internal evil
dcnce furnished that those features are largely
due TO incapacity Oh the part of the manage
ment, it is stated that, while the management
has secured the majority of the proxies Tor the
election next Monday, it is still anxious to secure
adGit onal proxies suggestion that something
is intended which requires more than IA majority
vote aided the further depression to-day, which
I only partly due 80 bear manipulation. 1t
was the genuinely weak spot III the market,
and except thnt in that the bears were covering
10 perhaps would have been weaker.
Union Pacific also was found unsupported at
early figures, although the early deinand was
price 3-S from 81 81 10 6S Is. When ths buy
ing, some 1000 shares, a part Of which was for
Europe, closed, il did not take long TO knock
hole of Is per cent down 10 o. out Of dulness
! he stock closed at 81 . from OK IL down to
81 the reported saes amounted to II, 700 shares;
the recovery 10 81 IL al tue close was made with
Transactions Of 1900 shares. st. Paul raded
less but it was held quoted heavy between 65 "a
and 81 IA and closed at 6S IL.
Another aBtempt against Delaware, Iaclu1
VIENNA and Western was made, and points for
$50 were plenty without chargn unless you
operated them but at about 1877 IA pur-
chasing orders met. so that l 81 3-s was the
lowest sale; later at 13Sa137 20. Philadelphia
and Reading held strong all the way ont: London
IS reported 10 have purchased ! 1000 shares at
- 7Sa39 a. As these orders in the market
were early, the daily morning attack on that
stock was postponed and on later, apparently
usual daily raid and the stock closed j-s per cent
higher than last evening.
Big -Four to-day sold to the extent Of 1900
shares at 20 1-2a 70a72 a, and closed at 70 ] 2
bid. Last Saturday, when it was raided from
70 to G6 1-2, the reported transactions were
$500.
Atchison had TO stand small racket from
% - 10 20 81. but il closed at 30 Ia
Notwithstanding all these desperate efforts to
create dcmoralization stocks generally closed
higher than last evening. Stocks continue 10 be
i'm poor delivery. although almost every buvrr NJ
contract goes into the morning market 10 hid
his previous days purchases, which could nor
be delivered if the sellers were called upon 70
make ROOn t1elf cOnIfhclS
In the meantime money is working easier
just what We said would be the effect of the
Secreary's warning Of n desire to reduce the
Treasury deposits in National banks is making
unexpected" early progress The warning call
for 81 700, 900 on all the banks throughout the
country to he paid only january .. 500, was
made last saturday. Since then the Secretary has
purchased S2.23s, 900 bonds. nearly one-half Of
the deposited amount named for January 10
The railroad earnings. which are the true meas
urn Of values. are largo that they surpaSs
the snnguinc expectations Of the " crazy Optimist
And business is good everywhere. except at the
Stock Exchange and other speculative marts
This is good for general prosperty-that there is
little or no speculation mixed with the country's
il furnishes no excuse for few
Iyrcckers TO have the sole charge Of the specula-
tive or real values Of securities and there can be
little question that the boldncsS with which Tor
a time they are playing with the values of other
peoples property is "A snare leading to a later
undue expansion The unspccuatve absorption
Of both stocks and bonds is not delayed by these
local depressons but is rather hastened
THE DAY IN THE BOND MARKET.
The Treasury purchased s94 6,4o0 bonds: per
cents S467,300 at 127. and IL per cents
s379,lO0 at lOi SIS At the Stock Exchange
there were sales of ID Der cents at 100. An