New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-31
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.


The developments concerning the Sixth National
Bank to-day acted as check upon the slowly
growing speculation at the Stock Exchange, and
that was about its only effect. Naturally the
early uncertainty regarding the outcome of the
affair induced would-be buyers of stocks to wait
for further developments. The bears however
were alert in giving to each item of news as it
came coloring peculiarly their own, as, accord
ing to present information the affair seems likely
to turn out only failure in an attempt to rob
bank. Depostors may perhaps be Inconvenience
for few days by delays, but there is no reason
to suppose that liquidation Of the bank will
return to its stockholders-we do not refer to the
recent purchasers at $3.50 per share-more than
the par value.
Under cover of general hesitation and wait
ing, the bears attempted to do some quiet cover
ing. For instance, in Lake Shore, in an entire
days work, one broker succeeded in purchasing
about 2, 600 shares at from LOG TO LOG 3-S. That
exhausted the supply, and then appeared upon
the scene of the brokers supposed to be allied
to the Vanderbilt interest. This was only few
minutes before the closing hour, and he sold rap
idly 500 shares at O6 1-s8lO6, and Immediately
offered lot of 500 shares at 05 SIS, so that
the official closing quotation for l0O-share lots
was O5 5-s6105 ga. 1t is quite evident from
the broker employed and the method of eXecu-
ton that the affair was intended for hammer
and to create the impression that the Wander
bits were panic-stricken on a stock which Is
earning per cent and paying per cent III poor
years.
Among the grangers" Rock Island stock was
the one used for effect upon the others with
trading and washing that figured up lO.3OO
shares the price was marked "a per cent lower
than the opening. with final closing with Is
per cent recovery The final changes in the
other grangers, where any occurred, were small
and insignificant. The Gould stocks were dull,
and after advances and reaction. due to the
latest raid, generally closed little better than
their opening figures. Among the coal stocks
Delaware and Hudson were notably strong, with
an advance from ISL to 1872 1-2; the others
yielded only small fractions to persistent raid
ing Union Pacific opened OF at 81 3-S. rose TO
6s IA and closed at g. ga bid. while all the sales
of Oregon Short Line were at "a 1-2. with
Louisville and Nashville lost part Of its recent
advance in selling down TO so Is. but closed at
50 IL.
Transactions in listed stocks were nearly one
third less than those Of yesterday. The demand
for borrowing stocks this morning demonstrated
that very large proportion of yesterdays sales
for the short" account Io-morrow's loan
market probably will show, instead Of any lquida-
tiOn Of that account an increase Of il from to-
days operations. In the unlisted department
Sugar Trust promptly recovered more than yes
terday's decline, and then ruled steady between
SO l-2 and "a. The market closed dull and firm
in tone.
TIE DAY IN THE BOND MARKET.
The Treasury purchased $1,000 l-2 per cents
at l04 5-5. The notice of the Secretary Of the
124 only Of banks snrrendcring Government
deposits had weakening effect on that issue
and there were sales at 124al23 5-S. The quota
tons were as follows: