New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-06-18
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco June II. 1882
Monday, juno lip. m.

The stock market for few minutes to-day cS-
ageerated the Importance OF the Chicago and
Atoms proposed withdrawal from the
Interstate Railway Association. Declines
OF to nearly per cent IN the
leading Granger stocks seemed 10 Justify the
common belief that the action rlesaeed the dis
solution Of the association, and the average broker
REQUIRED ten or fifteen minutes TO discover the
difference between u thirty-days notice and
complete withdrawal In any case 1t Is in
credible TIM, the Alton has the power to break up
the association, and IN the subsequent deal
ings the opinion was prevalent that ITS action
was a piece of bluff Neither its position nor
Its ability to cut rates entities It TO the prominence
that has been accorded to it, BESIDES, It's man
ayers may find cut that, in the present state Of
public opinion on railway matters, they may bring
disaster only ON themselves. In reply to the
charges against the St. Paul Railway. President
Miller sent the following communication 10 the
chairman OF the Interstate Commission
The St Paul Company was one Of the first
to 60 into the Presidents Agreement, and has
observed It's provisioIs The ,, loose
genaral charges TO the contrary arc wholly un-
has full power TO examine the books and records
of any company and TO question It's 4'nGers nhu
agents under oath. 70 aecrnihs "hG ,nn Conc rne
Nny had called for such examination, ~ would
have shown its sincerity and good faith. il has
not done So and therefore is not III position 10
Justify its withdrawal by the charges II makes
II against the ST. PAUL Company. As hdthr oil
fact the records show that the movement oil I've
stock out OF Kansas City Tor the five months,
January to May, inclusive, was IA total OF slS3
cars OF which the Alton moved 2,22i cars ana
The St Paul 2,40l cars. This trlung dhctchCe
in the traffic Of five months contradicts Tie Aitoh
theory of a disparity in rates
The criticism about the methods adopted by
the Alton would appear 10 be just, and. II the
company had desired simply al adjustment OF
rates and traffic, the agreement 10 which u was
party gave IL clear remedy.
Ii is unnecessary TO say that the lowest prices
for the day were made in the early dealings. The
selling was principally for thn short account, ana
when IL WAS evident that no conslderhbe amount
of long stock was being dslcdccd the frst sellers
were clad TO recover their stocks at hrnhIl IoSs
The most that was accomplished by VI" pear
faction WAS a final decline of about per cent
in St Paul and Rock Island. and OF about haif
as much in Northwest. Atchison and Union Ia
cifc closed practically unchanged, ana the losses
of Burlington and Quincy aud Missouri lncIhc
were only small fractions. On the other hhhd'
New-En gland, which was the most active STOCK,
showed conspicuous elasticity, and, after sellinK
at 40 SO, 1t rose to 81 rs and 81 90 hdNahc's
Of over / per cent were made by Dcia"ntt anu
Hudson and New-Jersey Central, while lCadInB
was active and higher, although Its hnsI Ghlh
WAS somewhat less. In fact, the early deciihS
were fully recovered, as q rule, and the closing
wus confident, although not at the highest ngures.
The resignation Of Commissioner FINK haa soho
influence on the final prices.
THE DAY IN TIE BOND MARkEl
Government bonds were neglected. Dut hrin al
4ba following quotations: