New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-03
..slas. Io2, $50 s2s lsl. 900
THE STOCK MARKET.

THE STOCK MARKET
The days stock speculation opened buoyant
and promising. 1t continued to remain 50 for
more than an hoar. London was liberal buyer
Of its favOrites up to the close Of business there
But a cloud arose, not much bigger than Q
it's merits not SO large rs a little finger, that
darkened the whole horizon. An enterprising
news agency-not the one which last week per-
% sH as sS s Rock ana
special FROM Chicago-the place where the
Worlds Fair will lie held, perhaps, in 1909
US follows:
President Cable and several OF the directors
Of Rock Island SAID Saturdays meeting wns with
reference 10 reduction III grain rates. and had
nothing to do with financial matters President
Cable said OF the situation: In common with
other roads. we are having season OF adversely,
but there is no danger of collapse
1t may be news tO tho other rOods that they
are "having q season OF Mver,it:',' and perhaps
President Cable never said anything so foolish
us the words that are PITT into his mouth. Inc
publication however. in the present nervous con-
MAS sufficient to ,hcck all kind OF buying. In:
ncdintely after the publication tlcr" was started
the inquiry Of what is the matter with Rock
Island and it soon becamc the general question
Then followed laid OH the stock of the Chicago
Rock Island and Pacific Railroad Aiter Opening
up "a per cent at 81 Ii a ', ruling trm at a,
s3 "a. Lately there have been published some
pretty hard stories abOnt the affairs Of the Rock
Island road The managers Of !hr company i,i
well knew what has hcel published and OF the
wide circulation which has been IIven TO INC
stories. The market acts as IL 'hc managers Ia
little interest either in the conpan"'s stock or
bonds. II they nave net. they aIr solely acting
as trustees for the owners. bc they capitalists OF
widows aud orphans: and il is Their
Hrs first d to f'F% "" cv c xviii s,n %"
convicted 81 hing in league with tho parties forcing
the decline in values Finally II was boldly az
serted in the Stock Exchange that the company
will pass it's November Dividend Unless the
compnny's official reports have lrcn false there
Ii ground for the present rnnors that pass
current without all official denial. No matter
II the company usually Publishes IFS net earnings
only Annually all Of It's Stockholders now demand
contradict the current rn,nors. Tic public also
demand IL. And we think the owners are as
great as their servants. the managers AS to TO-
DAYS sales we can easily place majority oi h'c
1000 SHARES sold with people who had 10 real
stock 90 sill al any pTiccfhc same ones who SOLO
it,at SO 1-2 on August 81.
The NOV cInent, however, was so VOL rNerntru
that IL checked all new buying. and the whole
clincs from the best figures OF the morning. AMI
vet n majority of the list closed with some gains
on Saturdays last figures. onc-mlnufe hurry
in money Ia per cent for small loans was
rudc for effect on hc market. 1hr principal hor-
rowcrs Mt over ; per cent had no collateral rx-
loans. Dulncss and apathy OH the bull
side and desperation on the short
features OF market that closed generally dull
and steady.
TIE BOND MARKET.
The market for Government bonds was con-
spicnous for tie ahsrne OF any public trrnsoc-
lions The markets response "a the new Treas-
ury circular calling for $20.O0O.OO0 more l-2
prr cents was better quotations for the Is md