New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-20
CLOSING PRICES OF PHILADELPHIA sTocKs.
WHAT WAS DONE IN STOCKS.

IucS''N, Aug. Typ III
The vastly deep of stock speculation has pro-
duccd two spirits to aid in depressing prices. The
spectrcs of fresh labor troubles and of monetary
disturbance are merely fairy appearances, which
will disappear at the next wave of the magician's
wand The threat OF extending the New-N orl;
Central strike to every railroad in which the
Vandcrblts are interested was not fulfilled to-
day, and the other spectre of monetary strinscncy
will be laid tomorrow in an equally satisfactory
way. Tie efforts toward disturbance have not
been successful in either direction, and the real
Owners of railway securities have given to the
attempts their proper value. In spite Of the
threatening attitude of labor and In spite OF the
recc<t exports of gold to Europe and consequently
the higher rates for money here the stock market
has not become active st each decline the vol
une of business has been smaller. There can
be only one reasonable inference, that the scll:lS
has been principally for the short account. his
was confirmed, 10 an extent to-day by the course
of the London market, The possibilities OF further
labor troubles were fully exploited there and the
rumors were reinforced by large selling orders
On tho surface the case could hardly have been
palmer. but foreign holders of our securities were
not more disturbed than the large holders III tins
country, who are perfectly familiar with the COM
mercial and financial situation.
The bulk Of the sales ia London was probably
for the snort account on OGucIS from .NtN-iplh
and the furry in the money market here when
carried the rates for call loans 80 80 per cent was
undoubtedly in the same interest The calling OF
loans by certain banking Institutions and the
hiCging over rates By others possessed large slg-
nilicance in comparison with the action OF more
prominent houses in letting their loans
Stand at the legal rate of interest. Their conii-
Cence will be rewarded by tie official announce
ment by the Treasury Department at Washington
that it will redeem Immediately SI3,OOO,QoO OF
4l-2 per cent bonds at l0i l-2. THIS advance
in the price Of this issue ought TO brlng instant
relief TO the money market, for the ohcr Is Il
most advantageous one TO The present hoideis'
II NAV he that relief was not needed, ana that IL
was called for only in Wall Street circles, hut IL
is substantial and rapid. The efforts TO create a
stringency have probably ended IN preventing me
possibility The phautoDs of labor and monetary
disturbance will he sent back 10 the place from
which they were summoned
The final declines in stocks to-day rarely reached
! pcr cent. The Vanderbilt shares were c0nsplcu-
ously weak, and they rallied reluctantly ne
stocks that have recently been sold most irccly
showed more elasticity, and the Gould Stocks were
strong. at least throughout the dealings. Inc
closing was in the midst Of a rally.
THE DAY IN THE BOND MARKET.
The Treasury bought S7s100 IS at l24 and
SlI4OO 4 lbs at 1903 "a. AT the Stock ~
change Government bonds continued 10 be neg
lectcd There was no change in quotations, which
at the close OF business were as follows;