New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-03
oLosIXG PRICES or PHILADELPHIA STOCKS.
Monday. .Innc 2-p. m

Monday, June 2-p. m.
The stock market has not Vet recovered from
the shock thar il received on THURSDAY IN'
first movement to-day was Upward, but II was
mol long sustained and fresh selling. apparently
for the short account, produced an uncertainty
which resulted IN substantial declines. HE cloSlht
was Heavy al practically the lowest figures an"
the final losses in the active stocks were 70 IL
per cent. There were no developments TO ailcc'
the course of prices aud the smaller volume oi
business indicated lack Of public interest. Ina
tho decline checked outside buying must ne al
mittcd. bat it mas he denied confidently that the
faith Of investment holders was shaken In l"c''
tie process OF absorption. which has been goIh-
on for long time. was continued ana me amount
Of floating stock was probably much less AZ me
close Of business than before In a. least year.
30 account is taken. Of course. Of the fancy and
Industrial shares whose alterations have on@
temporary influence. Speculation in stocks l.
IYern- from AN cNceSs Of Inanlpuiaton, WnlrH
Is always most effective in the least substantial
shares The purpose of the authors ~ the
latest movement IS undoubtedly u make an op-
po.tunity Tor the rcbuNing OF Previous sales
bat their success Is even 10 themselves a matter
Of grave doubt.
Chicago Gas was every way the most interest
Ing STOCK to-day. After an advance 81 about
per cent II fell over . per cent ana, TaIyi M
sharply. closed with loss II J is per ccut
The appointment of receiver by Chicago court
WAS possibly sufficient ocrnSlJD for the NnrId-
tiOus, bat the speculative requirements OF prom
Icn' Chicago director were more potent force.
What j. thought Of his operations AZ the home Of
the company is shown by this extract from the
market article Of " The Chicago Herald.
sid Kent and {. H. Cummings are apparently
utterly indifferent "a 10 what becomes of the Gas
Trust stock That. however, j. not quiy the
proper way to P7t ~ Instead of being indifcr-
cni. they wOuld probably very much like 10 49,
II 20 o. smash. Both 81 them have been very
short Of tho Gas Trust for long time.
The Ncw-No rkcTs who must now carry the Gas
Company through ~ present trouble and who
must support tie price lest the stock utterly
collapse are probably as well aware as anybody
that their chief opponents are fellow directors
within me Cast Trust Company. and consequently
in a position TO get as much information as them
selves
Tie weakness Of Missouri Pacific and Nchison.
next 70 the decline IN Chicago Gas. was con
~picDous feature Of the movement The differences
hat would naturally bc drawn obvious ana
n probably was in full comprehension Of the
situation that the decline in Missouri Pacific. ~
least was permitted II had little more cilect
however than the artificial furry in rates for
call loans toward the close Of business Aside
from the rnck of small brokers. who never con
slider their bank account until after the delivery
hour. there was no unusual demand for money
When reputable brokers persist in bidding and
. per cent for money which they know be
obtained outside the floor az per cent, they are
guided by their orders and not by their necessities
THE DAY IN THE BOND MARKET
The Treasury bought $32 200 Is at 122 and $50
4 1-2s al lO2 3-4 An unusually large business
in both issues was done al the Stock Exchange
az the Government prices. The closing quota
tiOIlS follows