New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-30
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

wednesday,, JdHudry E0-p. IN.
To-iay's stock market started out with the
" bear" influence on top. The New-lOrk Times y
gave nearly column on its first page to repe-
tition of ancient history on the Sugar Trust stock
The only item of interest in the long prologue
was the statement that some man by the name Of
Henry Hentz proposed TO sue the trust for $780,
900 for services rendered in organizing the Trust
more silly PRONUNCIATION never appeared in print
From the point of view of The Times, there is
nothing to sue. 1t is evident that the editorial
department of 1.-THE Times" was rather ashamed
of its first page, because, after backing up the
article to the full extent of its ability, it finally
closes with the admission that $50 far as the
prominent facts are concerned, however, this
suit can at best only confirm what is already
well known to the public" In the mean
time, the Trust seems to be going along attending
to its own business and paying quarterly dividends
Of 1-2 per cent out Of its earnings Certainly
it has no credit TO borrow 81 for the payment Of
debts dividends BY all of this. do not
wish, and we will not be understood to be stand
ing under Sugar Trust certificates or any other
of the unlisted" securities which are private
companies and make no reports But we can
not get away from the idea that Trust which
has been discredited to the point of dissolution
connection between The Nmess" article and the
opening of Sugar Trust at 81 against Ga
last evening and rapid decline
that it would be simple folly not to recognize
the twin sisters. Our readers will
remember that from the start we have
not favored the unlisted department" of
the Stock Exchange. majority OF the men,
bers Of the Stock Exchange sorry that the
thing" was ever created. But the governors are
blind or dare not take the back-track. They will
stand by the skating rink till the next cleo
ton. no matter how much the Stock Exchange
falls in the public estimation.
In the general market the speculative raid on
the trust stocks was supplemented by a gTeatet
cbullitiOn from Chicago of bear" news than has
occurred in twelve months. The same author
tiles, who, ten days ago informed us that the
Interstate Railway Association had ceased TO exist,
to-day told us that the Union Pacific and Chicago
and Northwestern Railroads had given formal no.
tice of withdrawal from the association How
one or two or more companies can withdraw from
a dead association is left 10 our readers TO dis
cover. 1t is not now, nor has IL ever been, a
question of association, but Of business. The
simple fact now is that every Western railroad is
taxed beyond its capacity 10 handle not only its
eaStern-bOund business, but also its western
bound business, while it is fact that within
few years all of them carried empty western
bound cars 70 supply the demand of east-bound
freight We have noted the dulneSs of the pen.
eral speculation all through the recent advance
in prices. and the absence of bull" cliqueS TO
take advantage Of the situation. We have seen
the moderate covering of Short accounts but,
as the buyers for that account have been tho
sellers Of at least one-half of its purchases we
have maintained that the short interest mas
been little reduced. TO-day's stock loan market.
which only partially reflects the actual condition.
fully verifes diagnosis Of the situation. The
steady investment absorption Of stocks is not
demonstrative, while the element working against
an advancd is active and alest, always
ready 10 take advantage Of every opportunity
10 make lower prices II is case Of despem-
tion waiting on the. ohances Of a Chicago or
Boston fire or collapse Of the "gentlemen's