New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-08
YrAr WAS DONE II STOCKS.

Tuesday Jan. 7-p. m.
To-dav's stock market was afflicted with La
o.rippc0 on Tie coalcrS The continuance Of
unreasonable weather and The consequent rcduc-
ton of coal consumption for domestic purposes
form ~ lest stray lcft for thc " bears in the
stock market II is an important factor III
tire value 81 those stocks But all of them whose
.,..k, ar. listed at the Stoc, Exchange, cA-
cent tie PENNSYLVANIA Coal Company, are now
,re,-cd lu a General railroad business, and have
a. large traffic outside u the mining and carrying
of coal. Bat Of Philadelphia and Reading IL was
asserted with posltlIenc,s that caused cohNlc-
ton that II would pay no interest even on IT'S
inst preference . per cent incomes lhat was
the point ct the attack, and the TACT tAat no
on,cial oi the company could De found who khe"
anything about the subject gave the depIcSSoTs
Of values all H., vantage they asked for. II the
company los expenditures tor bctierments nave
robbed the income bondholders OF their nTSt
interest. 1t Is 10 the bcttcrmcnt and not the
oetrimeut of the stockholders. But where there
d, queer work developed 1t takes little more TO
dlspei confidence Tie queer work IN Philadelphia
aud Reading bean when the company began to
,upprrs, tie monthly report, OF It's Coal anu Iron
ompauy At the time We commented upon IL.
And u matters not what may be- the result oil lhr
full annual report, the impression Is Warranted
purpose OF adnl the private sPcculatl"lS OIL lis
managers. Reports are suppressed as much to ply
stock5 as Tor the purpose of selling tnri, ~
annual fcuOit Ol the Philadelphia ana kcadluS
Company Will tell the reason why 1t stopped lS>u-
INK the monthly statements of tine Coal ana IRON
Company. That IT was for speculative purposes
Western was sold oil to l3l Il, bat 1t later re-
covered to 1876 II and closed at l5o g, against
l.5,s last evening. Central of Ncw-JcrScy,
which is under the same management aS That OF
IHttlltalnifl and Ip1dIur declined | - per CeilI
despite the declaration of quarterly dividend oil
- per cent to stockholders of January 10; yet
II closed at the tempting figure OF 10 -. 10
sell IT short" Is wild; perhaps to hold 1t Is IN
Tie general market was made duh by wild re-
port, of the condition of the European money mar
icts II was said that all over the Continent
money ruled at lOalj per cent, and that III Lon
don l3alI per cent was being paid 10 carry
stock, over The settlement Each and every one
of these reports was pure nctlon. Money IN Lon
don 10 day Was easier than 1t was yesterday, aud
the next settlement al the Stock Exchange begins
ON January II. The reports. however, were a
factor IN the days market. and together with tue
sharp attach, on Philadelphia and Reading, We're
influential in restricting buying and making such
dcprcssious as there were. And yet they ask us
to believe that such false and exaggerated state
mcnts are put forth when the short interest has
all closed up. The moon may be- made Of green
cheese, bat the short interest in non-specu-
latiVc market IS unwcldy and large
Exceptionally Chicago Gas Trust was notably
strong. with a final advance Of per cent and
Tennessee coal and Iron, after selling up TO &c. at
thc final figure Of 81 = showed gain Of rs per
cent OF tie total sales OF 2S3,js9 shares OF
listed stocks, Philadelphia and Reading and Della
ware, Lacawanna and Western furnished ! 8 600
shares The market generally closed strong
THE DAY IN THE BOND MARKET
The Treasury purchased 81 900 bonds: Four
per cents, 800, 900 at 1875, and IL per cents
60 900 at l0i 5-S. There no business In
Governments at the Stock Exchange Quotations
were steady as follows: