New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-13

Thursday, Dec. 12-p. m


In the stock market to-day the coalers were the
PRINCIPAL features. The promises made yesterday
of ~ special raid on them to-day were made good.
Taking out Delaware, Lackawanna and Western
$4,000 shares and Philadelphia and Reading
l3o 600 shares, the business done in the listed
stocks was only IL 900 shares. But with the
market as dull as it is aud has been Tor long
time except when the bears m'sH~-u temporarily
active by their 81 les purchases IL was influenced
bv the raid on the coalers. The attempt TO
create the impression that il was the stock OF
the estate of Mr. Kennedy which made Delaware
Laclxawanna and Western sell down TO 1876 81 IS
far-fetched. The executors probably do not yet
know how much of that stock the estate hoius'
The selling. barring some liquidations by board.
room traders, was purely ana Simply lhdt OF
shorts also was that OF PhlladelpnIa anu
Reading. 1t may be sold lower, but the sellers
are digging pit deeper than any OF the com;
pany's mines. The only purely anthracite coal
stock now the list is that OF the pennsylvania
Coal Company. All the other companies are
opcrabng railways doing general business.
Hence if on the poor coal trade any STOCK
should he sale it should be that Of the rem
Coal Company. And of that stock any operator
" short" Of 800 shares would spend many sleepiess
nights before il repurchased at the sellihs
price Yet in Delaware, Laclawana and western
and Philadelphia and Reading there IL a large
" short" interest, because they are sui classed
among the speculative stocks
To-day as we stood chatting about the money
situation with one of the richest and acuVe men-
beIs of the Exchange he said TO US, pointing 10
the unlisted department, there is what i killing
our business, and he specially mentioned sugar
Trust. He only voiced the almost unanimous
sentiment Of tho Exchange as II mas peen "a,
pressed to US And yet the governors lack the
courage TO take the back track laKihg Suga.
Trust as an example, there is so large a snort
interest that the demand Tor 1t Tor deliVefies
makes the leaning rate for it . per cent, while III
no longer is available for collateralS in loans.
Sugar Today sold off from 81 at the opening TO
So ! -4a56 3-s The danger signal' still hangs
out over The unlisted department, but there Is
an, hISIp
department II is beyond question that the lead
ing operators for decline in the general market
do sell, buy and wash thousands OF shares OF
Sugar without the payment OF dollar commits
ion And yet the wisdom OF the Stock In
change governors cannot conceive OF any INJURY
hus done to its general business. Sugar, Cotton
Oil, Lead and PheniX Mining might sell at 10
cents and it would not affect the
earnings of a single railway in the country The
unlisted department" has done all the harm it
should be permitted to do, and the time time to dis
continue it is when the lambs have sold out, as
they now have. Besides we have sneaklng idea
that If the unlisted department were abolished
tonight, with the speculative situation Just rs IL
is. all the trusts in forty-eight hours would be in
demand in the Street at advances from 10 20
per cent Is that the reason that the governors
refuse the opportunity to close up the dangerous
spots in their skating rink
The general market so far responded TO the un-
favorable conditions related as to he excessively
dull and to give to the bears the making of
quotations Yet. at concessions. there was de
veIoned considerable strength. II was reported
that the directors Of the Missouri Pacific met and
postnoned the question of dividend for u week.
There no meeting OF directors and no post
ponempnt A call for meeting of the directors
the middle of next week WIS issued, at which, we
doubt not, the regular per cent dividend will be
declared
THE DAY IN THE BOND MARKET
Tho Treasury to-day purchased Si.46l, $50
bonds; per cents s5i26Oo at l27; and IL
per cents S94S450. AT the Stock Exchange
there were small sales of coupon Is at l27 IA
and of registered As ut 1926 Is. We understand
there is the usual limited demand for Governments
to avoid State and city taxes. But il would
seem that the Payment OF l-sal-4 premium over
the Government price to resell after January
would hardly compensate for the reduction
in taxes obtained by such eauiyocal methods.
Annexed are the closing quotations: