New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-02
cLoslNG PRICES OF PHILADELPHIA STOCKS
WHAT WAS DONE IN STOCKS.

Friday, Aug. Up. m.
The stock speculation continues TO remain a
local affair in which professionals are engaged
in striving to make something out of nothing
dog-eat-dog spectacle. The stock market low
is a separate and distinct subject from the daily
stock speculation. This morning there was
something Of a stock market-tbat is, there were
orders to purchase certain lines. for some other
object than an attempt to scalp an eighth or
even as much as l per cent profit. While the
market lasted there was a general apprecia-
ton in values When it closed. it did after
l O'clock speculation again marked an IT.
regular reaction. The market" was not helped
BY the activity and the sharp rise i'll the price
of SUGAR certificates from 20 is TO 81 l-2. In
fact. it was exactly at the moment that Sugar
sold at 81 l-2 that the general market lost
all its vim and became instantly dull. The gen.
orally expressed opinion was: Look out for a
break in Sugar" And it naturally did breaiI
10 so Ia II closed at so 81. which Is ! IS pei
cent higher than yesterdays closing figure. The
transactions in Sugar certificates were $4,000
shares, against 73.717 shares in the general
market
After the stock market" lIad closed md
the local speculation again held sway. the
stocks of Missouri Pacific. Atchison and
Big Four we've the favorltes Of tho
speculation for decline Big -Four IN the
market opened at - IS and rose to - the Iale
speculation reduced the figures 10 80 Is, ana
finally at - H. against - "a last evening LIE
5000, 900 new stock offered 10 the stockhoIdcrs
al % was all taken up, and the subscribers 10 the
new stock who intend 10 sell II at current prices
probably have sold the full amount OF their sub
scrptons and it has been absorbed together W!th
short sales OF about 1900 shares, wlhch were
put out because OF the new issue.
Atchison opened up 5-s per cent In thc
market" at As IA and sold at AZ 3-6 the late
speculation marked the closing figures at ~ u,
and Missouri Pacific which IN the early maTAet
ruled firm at ~ 3-s, by the late speculation was
marked down to IL IA aud closed at II 5-S. Inc
lato speculation in these stocks named had niue
prices were off Is Ia per cent from the best
figures of the morning--that is oil.
While the certainty Of large foreign demand
for our crops still remains, to-day advIces oil
the condition Of our spring wheat and corn crops
mark great improvements on previous estimates.
The railroads are rapidly getting INTO me on
agreements so as to receive tie full benefit OF the
large tonnage which IS IN sight In view OF the
conditions the dulDess Of the stock market IS
not surprising, because the holders OF stocks
are not borrowers OF money ana are
not frightened into selling hy scarccrow stories
But that under the conditions, the bears, WIN
the excessive amount Of outstanding " short IN
tercst, can sleep at night is past comprehenslon
But II is noted and commented upon th1J one Oh
the reputcd leading bears, this summer Is
spending more time IN the city than he has before
in twenty years.
The Chicago and Northwestern Railway Com
panys annual report for the year ended jane
30, $50, has come 10 hand 40 too late an houf
for an analysis Of il in this issue. Bat Il shows
net earnings for the year, over and above per
cent on lis preferred stock and per cent % is
common stock, OF SG2j,9SG, added 10 which INC
profits over interest and charges Of the trans
Missouri lines Of Sll2.456 give surplus OF
S73s442, or a sum equal 30 rs per cent adj
ditional on the common stock. But the common
stock is entitled only 10 per cent I'LL the pre-
ferred receives higher rate. The COMPANY, cA-
cept for It's nseTvative management, would nave
paid per cent on the common stock last year
The stock holders were entitled 10 u on the com
pany's showing The stock to-day sold $3.50
shares at IL 1-4a1ll Is.
The general market closed dull and firm at the
quotations.
THE BOND MARKET.
The Treasury purchased $243,550 per cent
bonds at l24 and $1,000 II per cents Al
lO3 81 At the Stock Exchange there were no
transactions i'm Government bonds and the quota