New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-02
CLOSING PRICES OF rnILADELrHIA STOCKS.
TIE DAY IN TIE STOCK MARKET.

IIuiSldN. NAV ! ~ '"'
VOL May Dav has passed. Talks Of tight
money and Of railway wars having been iIai'esS
in frightening the real holders Of securities 10
sell out. much time. labor and money have been
spent 10 create scare about the result Of labor
demonstrations on MAY l. all for the purpose
that certain large short interests in stocks
might secure a market in which certain ana I'M
nending losses might be saved With thc end
Of the day kilograms from London Paris. Berlin
and from all tie world. reported peace
and auictncss and another bears" nest
had been robbed OF rs musings "
is TOO bad that such we'll laid
plans Of notorious wrcckerS should return such
poor results as did tO-day's stock market In
acnuity and large expenditures Of money when
running with the current may have an opportunity
20 reap lis reward. But when they attempt the
demolition Of stone wall by the athletic mode
of heads buttng against IL there is only ono
possible result. The stone wall Of railway earn
nes will stand. and the heads will be broken.
To-days stock market in the early dealings
reflected the fears Of the bears concerning
to-day's movements OF labor. They printed III
their special organ that to-day being holiday
AT the London Stock Exchange. the home mar"c'
would lack the support Of London. When did
London ever. in "A rising or falling market 90
anything except reflect the New-lork market:
Ncw-York Is the leading market for all American
securities And day by day New-lork prices
continue to grow into a controlling influence on
all the European Exchanges Tor the quotation OF
American securities London may nc
higher or lower than the w-lorK
equivalents, but IL never fails ~ ioIlow
tic home fluctuations. Watch Tomorrow
London opening prices, rs compared win lhe
prices OF Wednesday.
- Inc same interests which late Yesterday were
stacks carly ~ Hers to-day.
Neither yesterday afternoon nor this morning Wc!c
the principal sales for the account OF longs
They were what arc called. in the language OF thc
bear. fcelcrs-tcs,s Of the market to discover
IT, as they call II. the market was not " full OF
stocks. II took less than one hour TO test me
question Yesterdays late sellers Of Lake Shore
stock at 90 - and this morning at ITO, before
II o'clock were urgent buyers at / ] IL. ana
SO you can go through the whore
results. II is the story-which we have
preached till we are as tired of il as any OF or
readers can bean absorption Of securities we
can't brag Of wide speculation which records
ouIv 32G O3j shares Of listed stocks for the day
business. As we said months ago when COMMENT
inc upon the scarcity of stocks in the Street The
booming. what there Is Of IT, in the present mar
lct comes almost entirely from the feverlsh at
icmnt 10 close up spccuatOns on the short slde'
There is a widening of tie speculation on the
&" hnllr side, but as yet u Is a small factor COM
ma rcd with the increasing buying by investors
rho hears" are still fighting the advance In
nriccs at every opportunity while speculative
! pulls" talk Of nothing but reaction. which
,bcv say is overdue. And yet, after the early
denrcssion. almost everything later made sub
e,dntiaI gains last evenings prices, aud the
ma rl.ct closed strong with the prices close up 10
the best Of the DAY
WHAT WAS DONE IN BONDS
Tho Treasury purchased 10000 4 per cents at
% and S76, 800 4 IL per cents at 103 =;
totaI purchases $4,000. At the Stock Ex-
change there AND wi' the Quotations uV were steady as
follows.