New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-06
WHAT WAS DONE IN STOCKS.

wednesday,
1t was the Eastern trunk lines OF the "'ahaer-
bilts" that to-day demoralzed STOCK narhe0
which opeued at higher figures than the closing
Of Monday night and for the first hour developed
an advancing tendency. What does 1t mean
Have large holders of these stocks Joined hands
with leading "bears" to force decline in values
whereby the scattered holders Of New-York Gen.
trail Lake Shore. ETC., may be slaughtered for
their personal profit? 1t looks like it, because
the frst selling of the trunk lines is directly
traceable to the orders of Mr.. Cammack. while
the later selling was by board-room trad
ers. It long has been known that the
LARGEST holders of the Vanderbilt STOCKS
do not give to thor stocks any speculative
support. After they have made their purchases
of 10. 600 or 10000 shares of stock. they care
not what may be the price the next day lhey
no longer are SPECTATORS and therefore their
stocks are particularly vulnerable to any attack
of the bears Immediately after their orders 10
purchase are fully executed. 1t was SO when Lake
Shore was about 80, when it was about %, when
it was about 100, and when IL was about ITO.
The raid to-day began with New-Yorls Central
and Hudson River stock, and extended to Lake
Shore and Canada Southern. The " bear move
ment in these stocks, which marked Central ana
Hudson River off to 0sa9s "a, Lake Shore from
1O7 IA to 1O5. and Canada Southern from o3 IL
to 81 1-2. was effective upon the whole list f ,ho
chas stopped to learn wnat wa Eosepe
trunk lines, and in the meantime the
whole market broke. an average of nearly per
cent from the highest prices OF the morning:
The days battle was well planned and was
well executed, and was effective 1t began by the
sending of an order to Philadelphia to sell 5000
shares of Pennsylvania Railroad stock which,
r feeor RnSe OF s such decline back e this
had its logical effect our trunk lines, and later
upon the whole list, so that nearly all stocks
closed materially lower than on Monday:
OF course Sugar certificates. with decline from
81 to 81 s5 helped along the general tsp9 il de-
becoming very fashionable to condemn the Stock
Exchange for ever having permitted dealings in
Sugar on the floor. we were first and ioremcsS
in pointing out the evils to result from the open
ing of the unlisted department. we may he ey-
cused for not sympathizing with the Latter Day
Saints who have Just discovered the evil evil ana ana
who were vOciferOus in announcing that the
Trust" had come TO stay, proposition that no
one ever disputed: All that was contended Tor
was that no stock OF COMPANY or s S1 ,rI ha
granted quotations In the Stock Exchange. This
rule should he applied, and it would take the
stock Of Adams Express Of the list; Inc qulcHef
fdenca in the methods Of the Stock Exchange
and under present general business conditions
will there be a return Of old-time activity com
mensurate with the general prosperity Of the conn
try. But it is powder lost Tie governors ore
welded to their idols, and nothing short of q
probable closing of the Exchange for lack Of
real business will waken them from their decisions
In the meantime the business of the country
goes expanding, the railroads are insufficient to
do the business, and the New-iork STOCK EXchanee
stands out conspjcnously not as the financial
barometer of the country, but as its one dismal
swamp
THE DAY IN THE BOND MARKET.
There were no transactions In Government bonds
at the Stock Exchange The nominal quotations
are unchanged as follows