New-York tribune., 1890-08-27
CLOSING PRICES OF PHILADELPHIA STOCKS.
Tuesday. Aug. 26-p. m.

Tuesday. Aug. 26-p. m.
After the publication In the morning papers
Of the result of the meeting of the Council az
Terre Haute. not one word of news concerning
the so-cslled strike on the New-York Central aud
Hudson River Railroad was heard during the
whole day. The news agencies piled the Street
with rrpetitions Of the condition Of the strike at
the Chicago Stockyards, till finally the announce
ment was forced that the Stockyard Switching
Association was dissolved and the several railroads
were moving tlieir own cars in the yards That
was all there was Of strike news. .
TO continue the logic Of the strikers connec-
ton with the speculation, it is necessary TO point
out the declines which the Vanderbilt shares have
suffered The declines in those shares began some
time before the strike on the Central Railroad
was announced ana before there was any strln-
gency in money. In fact it was the Nanderblts
that led the declines which. excepting for them,
eliminated Oh Monday, August IL, before there
was any marked stringency in money
Starting from the highest figures of June and
July, we find that Lake Shore has suffered de-
cline from ll2 to 1903 New-York Central from
40 to le4 1-2; Chesapeake and Ohio. first
from II 1-2 TO So; New-York, Chicago and 81
Louis first preferred from "A 70 60; Chicago and
Northwestern from i13 10 LOG l-2; Michigan Cen
tral from 102 1-2 TO 90; and Canada Southern
from GO 10 81 ga. 1t seems as if these figures
tell their own story without comment No one
dare assert that the decline was occssioned by
any liquidation in these solid Investments. par
ticularly as it was these stocks that suffered nost
In market values when the monetary stTingency
was at it's height. We are forced 10 the conclu-
sion that the threatening uncertainties Of the
labor question last week were greater factor
in the stock market than was the money question.
The snallness of the daily transactions and the
entire lack Of general interest at all times during
the decline is fun evidence Of purely local
Rntrn a
professionals the making OF market Quotations
And the strike in disturbing confidence, was also
q factor in the money market, in that 1t made
MANY lenders so tmid that they withdrew their
funds and refused TO make new loans
The exceptional local conditions are now all
changed permanent settlement OF the rcspec-
near as now. The storm has been less violent
economic atmosphere. The Treasury is receiving
a liberal amount Of l-2 per cents for redemp-
ton under the circular Of August 2l, and the
new Silver law has got into working order. so
that the daily expansion of new legal money
exceeds $4,000 The total issue up 20
date is 81 1888 900. The money market has re-
turned to its normal condition, more because Of
restoration Of confidence than for the amount Of
money which the Treasury has disbursed or issued.
To-day's stock market TO small degree
nccted the acknowledged change. There was an
excessively dull market. restricted ny the limited
offerings, so that the total business recorded Tor
the general list was only 1iSll5 shares The
check on the buyers now is that a small amount
orIy can be purchased without materially adyanc
ing prices The free sellers Of contracts Of last
week seemed 10 have received permanent check.
and now they are more aggravatlng than n week
ago to the wonld-be buyer in being competitors
in purchasing for the purpose OF rccouping their
contracts Big Four which OH last Friday sold
at So. tonight closed at II bid, and yet it IS
per cent lower than in June Lake Shore on last
Thursday was given away AT O3, but to-day, with
traansoctions few and far between, it closed at
,073.4 But our general list sufficiently ex-
plains the days work Dnlness and steady, ap-
Of values were the features OF the whole
rpail,yav LIST SUGAR certificates, after early
dcnlne Of / per cent to 76 "a. closed at 70 3s.
Silver certificates were weak because Of the further
decline in London but after 1lS sales they fe-
covered IN Jls ga The market closed dull and
very strong. ,,,.ru.
THE BOND MARKETS.
Tho Stack Exchange business in Government
bonds was confined TO small sale OF as at l23 1S
The quotations for the per cents ara all the
currency 6s were advanced 12 per cent, and closed
as follows: