New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-18
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE Is STOCKS.

Monday. Feb. I'D. m.
Speculation in railway stocks centred Rock
Island to-day. The stock was pressed for SHE
from the opening, and, in spite Of slight rallies
il closed practically at its lowest point with 10
net loss Of over per cent. The Ostcnsible
reason, of course. the difficulty in rates b"-
yOnd Chicago, but other Granger stocks APP
parently were out Of touch with the decline and
st. Paul was exceptionally strong throughout
the dealings II is unfortunate that the polcy
Of the Rock Island Company casts stigma ou
the honesty OF the management az every decline.
The selling to-day was confident and positive.
and. while great part OF IT may have been for
the short account it is almost incredible ;hat
the recent decline has been wholly due 10 this
element The bear faction continually repeats
the statement that the company is laboring under
financial difficulties and backs is opinion with
money. On the other side there only gilt
tering generalitics about the business and sue.
cess of the company The public ha, no means
Of judging the value Of the property and NATURAL
~ quails before the secrecy maintained by the
company and the positive assertions Of the bears
That certain amount of investment stock should
be brought to market by this unusual combine
ton Of circumstances must be admitted. lie
inference that officers Of the company are selling
stock through bear brokers may not De uHiCdSOu-
able, although IT Is highly improbable.
The effect OF the decline in Rock Island cy-
tended 10 the general market. The Morgan
Chicago Gas Trust yielded readily and the final
downward movement was led by Missouri Pacific.
But, In spite Of LOSSES Of from L. per ~ut ia
stocks from which better things might br cN-
be expected. the market showed mag
niicent resistance. mon Pacific was
second only 10 Rock Island in volume
Of business and although it yielded u
per cent from the highest point, ~ closed still
5-4 per cent above the last price on Satus'1y.
The funding bill reported III the Senate is salts
factory 10 the company ana VIII DE accepted,
while there is little doubt that II Will be passed
without more than 1aciOuS opposition. The.
exchange of bonds in the sinking fund for first
mortgage bonds Of the company Will tend 10 re-
licVc the present absorption hy the Treasury be
cause the Government viii undoubtedly buy lis
10 disburSc money for the railroad bonds.
Aside from Union Pacific the STRONGEST stocks
were s.. Paul and the anthracite coal shares
OF the last named prOup, LackuWanua closed
actually trhe higher, and Reading only IL
per cent lower TIE significance Of this cNccp-
tonal vigor lies in the fact that these stocks
have been for some time fayOrlIc points of attack
by the bear faction. The entire movement would
seem to Justify the theory that the selling Of
Rock Island masked an attempt 10 cover short
sales in other prominent stocks. That tie rate
troubles AT the West are greatly exaggerated is
admitted by railroad men familiar with tho situo-
ton Less was heard about them today ana if
was noticeable that less WEIGHT was given to the
danger Of tight money. OF the trust stocks
Sugar was active and higher, and National Lead
comparatively active and weak The CLOSING
was Irregular but generally al about the lowest
figures
TIE DAY II THE BOND MARKET.
The Treasury bought $4,000 Of Us at
lO4 5-s, and $4,000 per cents at ia At
the Stock Exchange odd lots OF registered 4 per
cents were sold at l22 81. The closing quota
| tons were unchanged: