New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-11

WHAT WAS DONE IN STOCKS.

Thursday, July l0-p m.
Notwithstanding that the two important COM
panies-St. Paul and Northern Pacifc-in their
returns of gross earnings for the fourth week in
June showed losses, the aggregate of forty-two
companies or systems which now have reported,
and which give an aggregate for the week Of this
year of SIS, 530523, shows a net gain of $405, 01
on the same week of $50. Thirty-fve companies
with gross of ,926s3s give gain Of $522, $40,
and seven companies with gross of 81, 1922, $50
give loss of S1l7,660. For the first week in
July only nine companies have yet reported
Eight companies, with a gross of $s6s, no. give a.
gain on the week of 1889 of S105,3l3, and one
company Milwaukee, Lake Shore and Western
with gross of $6S,919, returns loss OF S2,22l.
And this despite reported railway wars
To-day has furnished an illustration of the
methods resorted to by people who are short Of
stocks to affect days market. Before business
opened news agency sent out the following -,
stocks for week past principally st. Paul and
Union Pacific, continues 10 talk very bearish lie
says we have just begun a considerable downward
swing in the Market and that the leaders Will
be these two stocks At present the market Will
be influenced very greatly BY the shipment Of
gold Besides, the crisis in, South America IS
being felt here in quarters where one might least
suppose IL would be felt. The caution signal mas
been raised by some bankers In trades which they
have been contemplating.
opinion Of q particular " bear" But 1T Is SO In
geniously worded as to carry with IL the air OF
authority. Then followed another item: o.
Chicago special Chicago has SOLD 81. fauI
on the theory that there will be no dividend on tne
common this fall and that both June and july
net will show q big decrease
We do not dispute that the real OPINION q
Chicago is of frst-class Importance put the PAID
for expressions OF opinions OF chicago STOCK gan
blers do nothing except reflect discredit on their
wa iater came a private dispatch to eight or ten
Stock Exchange firms, which was widely CIR
culated to the effect that unless there were ram
IN mn Ne of tbat State was done for This report
was addressed especially to the dealings IN Union
Pacific and not to the grain Market "hao iooi'
we Chicago mortals be ~, ..,
There was mourning and crashing, Of teeth
this morning when the cable announced thae uie
Rank of England rate for discount was uncha!seu ~.
end remained at per cent. The fact uiscrcuits
many of Yesterdays private cables as 10 tne
condition Of the London money market ie1 10
is rrue that the outside rate Tor money IN Lonuoh
is up 10 the bank rate But what OF ~! la new
York money is easy at per cent. And tie Cnlteu
States has grown into position where IL no
longer is dependent upon the foreign markets lHs
DAYS of blockade runners are passed, ana the
United States is the first nation OF the word com
mercialy and financially Well te siock sn naIss.
same hesitation, dulness, and some reactions were
followed by greater activity and sharp advances,
in which Delaware, Lackawanna and western ana
.ic Four were cOnbPCuouo
n,clocL IL was announced that kidder Peabody
' EoHBaring Brothers-had engaged 81 100000
If cold for export by Saturdays steamer On
1hiss the sellers of the last two days and the
buyers Of this morning piled the market with
stocLs more rapidly than its absorbing qualitles
oo~M stand and prices declined under the pressure
90 that a mart. and in some instances all, the
g. Gains we're lost, leaving the speculative SIT
ua3 , enroba DIV not materially different from what
a. vas at the opening of the day. The Leading
- of the present market seem TO nave
II idea that the use Of money is conhped 10
one aocmmnlation in New-YoriS banks; that lts
am does not reflect the requirements OF an
aSmarded business which means greater earnings
81 ,p'iiroods: that while americas gold prouuct
t tor % year is about $3200o,000 1t IS not as
ior,,;r9tc commodity for export as silver gram
r cntton that after net gold exports OF only
o no 900 for the year ended June 80, u
%,suod,c rnoyement at this time, Just DeioTe
p No. tct will be flooded with cotton DIS Is
tne a.tnr ~ first importance. Here money is moi
ih Int IL is abundant for all legitimate anu
y "a purposes Operators on we shoro
E Who make mountains out OF mole hiiis IN ue
sue Mny esitnation. need TO prepare thcmseives
,rsater surprise In the figures OF next Sa,uI
Avs hank statement than that iarhishhe s .d d
SaSyr,do~ The surprise will be on the otner sue,
But what Of t1 Mone,y re Is eStS Of the past
THE nay IN THE BOND MARKET.
m. Treasury purchased $4,000 per ce CEN
hd 81 IoI and $4,000 1-2 per Genus az doo'
a. th. S,ncl Exchange $4,000 per cent u9Sern
men,s sold at l2l l-2 AhheNeu a'e '"s '''e