New-York tribune., 1889-12-19
WHAT WAS DONE IN STOCKS.

II was the same old stock market to-day. OPP
orators who shOrt" OF Stocks III a market
that is bare of speculation, except such as theJ
make and who are desperately lighting for their
financial life had the making OF Official prices
IL was water day, when little anthracite was
needed except TO dry the moisture OF the ar
So they said they were selling Mr.. Kennedy 5
nelawsre Lackawanna and Western stock" AS
they sold Mr.. Kennedys stock more than week
ago and since have purchased 1t back al io9a I4o,
we are inclined to believe that to-day they We're
selling the stock for account of the Moses IaylOr
estate However, it great success In that
the price was marked oil to 1876 3-S-l-5 lower
than the lowest prices recorded last week. mere
we're no sales of Pennsylvania coal STOCK, ana IL
having no other source OF income other than
from the mining and selling of coal, Is more
affected by the fearful depression III the coal trade
than any of the other companies which are now
operating railroads doing general business
In connection with n rumor that the New
York Lake Erie and Western Railroad was con-
templating an issue Of bonds to furnish 1t with
equipment necessary to transact its business, thcfc
was free selling ere f It's weak SIOcf because ane
of the same rumor, or at least that
was TO what credit was given That the Ere
Company, like nearly every other railroad OF the
country is Just this time short OF equipment
necessary to meet the pressure Of business, un-
ouestionaby is true, but that IL contempates one
dollar Of addition to it's debt we are authorized TO
say is absolutely false.
were to the effect that the whole system OF West
ern railroads were up in arms about the traic
arrangement between the Union Pacific and the
Chicago and Northwestern railroads Probably
dispatches of the same character Will appear IN
to-morrows New-iorl papers. 1t is chesnut
We went through all of that VIXEN Union Pacllc
stock was selling at about 81 and Northwestern
stock at about 107
These things are only chips which on the surface
Of rising tide temporarily check it, The tide will
get there all the same They are temporary OBJ
stacles which in speculative stock market the
leading bulls" would welcome as evidence of
desperation and the certain indication of a buy
ing market, irrespective Of the public whenever
they chose TO assert their power. Tie only
" bulls Of any note whom the stock market has
seen in the last twelve months has been that quiet
absorption OF stocks by investors who count for
nothing in the speculation except wien the
" bears" attempt to rccoup. II has been that
and not a speculation that makes the price of
stocks higher than they April . And
that class of buying has been based on the i'm
proved condition Of the general business of The
country, and is not tricked and will NOT Inc
tricl<ed by the minute dispatches issued i'm Wall
Street for speculative purposes. Two years AGO
tbe Chicago burlington and Quincy earned moro
than 81 100000 in excess Of per cent dividend
on its stock There is no reason why, with an
honest management, and the growth Of the busi.
ness. it should not do il again. We mention
this company particularly. because at its doors
lies the entire responsibility Of the demoraliza-
ton Of railway business. which began in Noyem-