New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-25
CLOSING PRICES OF BOSTON STOCKS
Boston, Nov. "a 1890.
Monday, Nov. 24-p. m.

Monday Nov. gap. m.
The stock market still develops progressive
tendencies. To-day it opened with decided In
clination on the part of boardroom traders to sell
il for a reaction, and prices yielded from l to
3 l-2 per cent from Saturdays closing figures.
The reaction was aided by the early announce
ment of the failure Of Edward BrandOn-a mem-
Der of the Stock Exchange since September 8,
1852. 1t seems that Mr.. Brandon was loaded with
the junior stocks of the nickel Plate" Railroad,
and that as a hedge against the stocks held, for
which there was no market, he week ago sold
other stocks which were active and had suffered
declines of 10a2O per cent 10 protect his long in
terest Since then the active stocks have made
advances ranging from to 10 per cent, which,
instead of strengthening Mr. Brandon's situation,
weakened it. Hence the failure is due to short
sales. Mr.. Brandon has the sympathy of the
whole board While not classed among the pop
ular" members, Mr.. Brandon always commanded
the respect and kindly feeling of the whole ex-
change. and his mishap called forth a great many
expressions of sympathy. II a surprise, al
though usual meet fools who say they havS
known it for a week. Under the sales under
the rule" New-Yorls, Chicago and ST. Louis
mon stock fell TO Lit closed at ] IA bid
rs 3-S, and the first preferred fell to 50, closing
at So 1-2 bid. This is an illustration of the way
al unfortunate speoulatOr Is slaughtered when he
falls into the hands Of Stock Exchange humani-
tarians.
Concurrent with these operations there was
spread the idea that the managers of the market
had not yet obtained their object in forcing the
Chicago, Rock Island and Pacific Railroad into their
plans of consolidation and unity Of interest and SO
the price OF that stock suddenly dropped
from 6s Saturday .eveing to Ga l-2. II is not our
province to retail the gossip of the Street Of
which scarcely per cent ever bears the print Of
truth, but we may say that whether or not an
agreement was come TO between Mr.. Gould and
his friends and the insiders in Rock Island the
managers of the Rock Island Railroad have been
large buyers of it since it touched 81 l.2 last
Friday; from sales at Ga l2 its recovery was
rapid. and after selling up 10 50 rs, it closed
Referring to the gossip of the Street. which
now is generally written up by novices who
do not know the beginning or end of a railroad
in the country, we state as a positive fact that
II il be true that Mr.. Gould and his friends have
made any important private transactions in Rich
nothing to do with such transactions. and is
as innocent Of them as is All unborn babe
We are not belittling the progress which UNI
dopbtedly has been made in sOlidifyng the great
railway interests of the country-Only showing
that the columns of gossip published regarding
details which are still sealed secret arc gen
orally ridiculous rOmances. Probably not One in
five Of them will prove true when all the facts
are known.
After tie early depression, which except that
there were fictitious causes ascribed for II, was
the market gathered itself together. and
without effort and despite of boardroom traders
pounding made steady advances to the close. In
the last quarter hour there small reaction
from the highest prices of the day. but the market
on the whole closed strong 1T the figures. Il our
readers will understand that the lowest prices
Of the day were made at about IL o'clock, our
general list" will fully explain TO them tie
days movements.
WHAT WAS DONE IN BONDS.
There was no business done in Government
bonds The quotations were firm follows: