New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-05
CLOSING PRICES OF PHILADELPHIA STOCKS.
Tuesday. March i-p. IN.


the intended manipulation of money Tor S'ocN
speculative effects at the Stock ENchaiee-a i"i"ie
- make connection with certain financial institi-
tions. which. perhaps two months ago secure"
all they wanted of that kind of notorciy. Not
xitbstandng the fact that the surplus reserves
of the Ne,v-YoYk banks are, a. is said. down 10
Tho danger point" money persists IN ruling easy
at 3 l-2a4 per cent.
II WAS on February II that the last-announccd
fearful railroad war out West began. It's terrible
results are told in the reports OF railroad earnings
for the fourth week of February. out OF hlteeh
companies already reported, all, save one haNc
returned large gains on the week oil l90', al"
that one is an Eastern linc-thc Norfolk ana west
ern The stockholders of the Norfolk and West
orr, sbould he anxious to have the brand OF "a
reduction in rates. which, TO the Western com
panies. is responded to by such large gains i'll
ca~ninss We want to treat the subject In "
serious way: but in view Of the alleged causes
and the actual results. as furnished nN Inc "D-
.,lute facts Of tie earnings We lind il impossible
10 view the speculative situation oiher IMAM a. "
Grand farce. in which fcw operators appear in the
character Of KmOw-alls, with a supreme DelcI
in the Ignorance of the world generally
This mornings stock loan market at 1he Stock
EXCHANGE. and that does not reflect the much
iar.cr borrowing Of stocks done through the bro
kers' offices was Of itself sufficient denial OF
The silk plainly" spoken statement th't ~
looks as if the bears got what stocks they "ahi'h
without any difficulty. lie sl'tk lo'h ni'i'''
in fine stick Exchange reflects little If any plli1'
in the amount of outstanding snort interest
from what il was -. week ago. Here are 'iItl'H
of the stock market that are not yet TOO ga 10
learn that If 100 or 10000 shares oi S''cN 'l'
sold short" in day. such sales a1d 50 Mhcn
stock 10 the amount to be loaned ont inc h'H'
morning and there are critics Yet young enough
a.
fact \ million shares can be sold short ana
vet the loan stock market be heavy, unless a
clique of " bull operators are demanding th'
actual delivery, or some mot OF an investor
demands the certificate for his purchase Of 900
shares. The first proposition now IS not T. %
counted on. There IL not IN sight " bnll cnGuc
! But as does occas ionally happen, even now. when
| an investor does demand his stock. even the pur-
! chase Of 800 shares, the whole routine nl the
| speculation is broken up. That stock suddenly
| seems t. have become scarce for delivery since
the small amount Of 800 shares breaks the con
ncction Of an exchange of contracts and tempo
rary creates disturbance.
WHAT WAS DONE IN STOCKS.
There was nothing in to-days stock market
| hardly worthy vi note The great operators
who particularly DESTROYS to haze IT under
stood that they have corncrcd all the shorts,
we suppose for the fun of the thing and not on
account Of any interest, hammered values
wherever and whenever the opportunity Offered,
notwithstanding the fact that the plain tendency
of price, was upward. II WAS rot slmcula-
were recorded. IL WIS steady absorption ana
10 speak plainly. the failure 0i the bears 10
get what stocks they wanted the speculative
interest Tor the snort account pr"'r'pIy Is
larger than il ever was before But it is a dull
market, and 10 one or no set OF SPECTATORS O.
| the other side attempts TO force settlement. II
| is this last fact that has had much 10 do win
! the encouraging Of extensive selling for the
short account. The traders have seen that the
Great bears" were having their own wa, that
they met with no res stance, and not. ING was
more natural than that they. one and all shO aid
| Join the seeming winning SIDE At the mon cnt
! bears" are AT premium and bulls well.
| without Quutltion. But it is interesting and
| important quest on who has purchased tn IS
! minimum block of short contracts. II is eyi-
| dent that during the last seven days prices only
| have declined under pressure Of raids and that
| almost Immediately after they have recovered.
| Ten DAYS ago Rock Island sold below 80: to-day
| It's fluctuations were between 80 u and 90 5-S.
| We mention IL as . sample Of the market. In
severe raid made to-day just before Tie close.
| From 90 l-2 il rapidly was marked OF T. 90 but
il closed At 30 l-i-l-2 highcr than its opening.
| The market closed strong after the raid
THE BOND MARKET.
The Treasury to-day purchased emily $4,000
II per cent bonds at OJ . There sales
of Government bonds at the stock Exchange
But on reports that the Treasury Is about 10 re
sumo the purchase of the per cents, the quota
lions for them advanced Il per cent
Annexed are the closing quotations: