New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-17
A STRONG STOCK MARKET.

JlliiN. My up. M
The dealings at the Stock Exchange to-day in
listed stocks aggregated 4J0 G3s shares. against
f51.sl3 shares yesterday, and in Tho "unli.tcd'
department l2O,2l3 shares. against $3.50
shares; total to-day 57O,sjl shares. against 597,
l30 shares yesterday. II was fiuctusting mar
lct, with some few specials AZ the front which
gave character 10 the whole list. An advance
Of 81 per cent for Union Pacific N the opening
under large buying orders from abroad. and IT.,
further advance Of per cent 70 G9 under a
scramble to recover short contracts disappointed
many expectations Of the outcome ~ to-days mar
kct. Tie MON Pacific movement was a stInIu-
lsut 10 the whole market 50 that for the first
hour it generally ruled at full figures After that
il yielded sharply u continued realizatiOns and
Tie reaction encouraged some additional free
sales for the Short accounts. Both rcalizatlous
and short sales were absorbed with a readiness
that developed a market broader than any one has
suspected. The reactions from the highest prices
of this movement to-day were material and in
some Instances large, but the later recOyeres
were rapid and sharp. Taken as "A whole the
market closed higher than ~ did last evening, but
tAcIc are exceptions Chicago cas- declined from
po IL at the opening 10 81 5-., but 1t closed at
p2 J-9 against % % last night Union Pacnc
opened up "a al 81, sold up 10 g. and closed
al 81 "a, lot OH the proposed funding bill, but
upon Inc publication OF It's earnings ana IL london
buying. IOor ~. ran, which for many months
vas t.c supposed paradise OF bears vino were
manager, Of other railways, after an advance OF
IA per cent 10 - -, closed ~ a.
The shaking up when the market has had has
been beneficial 10 lis stay ing qualities, although
il has left many Of the light operators castaway.
The days operations show that the market is
larger anc ,roadcr Than any "ortainrd" manipula-
tor, and thaj professionals who employ hcnchmen
10 blow their horns are only atoms IN the swim.
II always II sale, wien tine common talk Of the
street Is Of WlI1' one two ma mates are
dolns. for ll9At traders 10 step one side for IA
day or two and learn whether the market be-
longs 10 them or they belong 10 the market.
Buucombc and chdli possibly may prove valuable
for a days speculation. Yesterday il was not
valuable to the early buyers OF Sugar RciincrieS
at 90. who later saw II sell AT = IS under Il
masters mani pulatiOn, and TONIGHT closing at
s. -. We do not question that Sugar Rein
cries vii sell much higher Bnt q live New
Yorker should not permit himself TO be manlpu-
lated by immigrant from tho Pacific slope.
I lie permanent recovery made in Wall Street IS
as IL is elsewhere, made by "a correct estimate
Of the situations, be they good or bad and not
from the following Of either self or public ere
atcd gods To us and to tine public as It's
opinion IS reflected In the market conditions /
sem to warrant much higher prices for securities
" hen tie silver legislation comes as il certainly |
will that will he a factor that has not vet en- |
tered into the calculations The day market |
closed strong, without excitement
THE BOND MARKETS.
The Treasury purchased $4,000 per cent |
bonds at l22 and 81 05 900 / . per cents at |
% 10: total. S22i700. At the Stock Exchange |
hero was no business done Ia Government bonds. |
The quotations are as follows: