New-York tribune., 1890-05-28
cLo,IYG PRICES OF rnILADELrHIA STOCKS
SOME ITEMS

Tuesday. Nay 27-p. m.
The organization Of the newly elected board
Of Directors Of tie Missouri. Kansas and Texas,
by the election Of II. X. Eaos as president,
completes tie rehabilitation Of tha' property.
Considering the nature Of the complications ami
the conflicting interest. which cncomplNsed iA"
embarrassmcnts of the old company, It's succc>Si ul
reorganization on solid basis without DIS
iaeuibcrucnt. is an achievement almost equal 10
that OF the REORGANIZATION Of tie Atchson. Topeka
and Santa lie system. The election of Mr. EuoS
as lis president is only an appreciation Of hl,
persistent efforts for such result and Of has
confidence IN the proposed Schcmc. The ro'lfca-
ton Of the lease Of tie Kansas Clty and Paclhc
Railroad, which was made while the Missouri,
Kansas and Texas Company Was sill IN Tie tAroc,
OF possible dissolution, gives 10 the company a
direct line, with terminals, 10 Kansas CITY
From being u Lazarus, accepting the crumbs from
rich mems tables, the Missouri, Kansas and Texas
has come 10 be an independent sysiDm with
rich dOWry Of " land grants in the Indian Ter
Itory which sooner or later VIII become avail
able We understand that there Is not 10 be
any change IN the tTaflc and road management
that management having proved perfectly sat.s
factory 10 the financial managers and having
aided the reorganization 10y methods which have
helped 10 build up the property. The company
now Is earning al rat" that would warrant
dividend on tnc preferred stock, hut judicous
expenditures for Octtcrmcnts make this remote
Yet IL does not seem unreasonable t. expect, II
the current earnings are continued some interest
on tie new incomes as early as next December
Among the items circulated which are sup
posed 10 have affected the late dealings in stocks
to-day was report that there was a panic ~
the Cotton Exchange and that IL had closed
Both reports were true, but not in
the sense in which they were given or
accepted. The panic a " bear" panic aud tie
doors closed AT the usual hour. Another
report added 10 the above was that
Chairman Walker, Of The Interstate RAILWAY
Association, had become disguised With the sitra-
tion and resigned the chaIrmansiip, Icing hope
less of bringing about Il settlement.
THE STOCK MARKET.
The stock speculation day was irregular and
erratic while the investment buyina continued on
lis own c0ur.c undislurbcd by fluctuations or
rumors. London Was q considerable buyer Of
certain stocks, notably Lake Shorc and y srarcher
for Ncw-l ork Central and Hudson stock II IS
scarcely necessary L. look for , reason for thc
late afternoon declines beyond the fact that Dee
Grafton Day FRIDAY make, "A broken week and
that therefore, tie week will practically close on
Thursday and that following the lafc money aG-
vanccs IN value, the general speculative clement
whether "bul' or bear. favored o sharp traction
Irndng the approaching three HOLIDAYS. But
H. accomplish that object il wa. found nrcrs>orN
to nisrcprcarnt affairs AT ia" Cotton Exchange
ana 10 manufacture reports about the Western sill
uation as related above There is little qncs
ton that the speculative situation was ripe for
moderate reaction IN price,. Sugar, with It's dc-
mOralizing influences for several DAYS, hos made
slrcuIators who believe IN great boom tlmd
i'm their Immediate operations. Sugar has de
clincd ! q Der cent from lis extreme advance. ana
no one eau know what it will do next under a
mauipnlation that rests its success upon the char
actcr of the receipts Of its points. Sugar should
have no effect upon the general market. but ~
does create q sentiment which causes hesitation ln
Dtber operations We will wait and
see what Sugar will do is not uncommon
remark The market however, has stood the
.nrar les, with remarkable lrnncss showing that
its basis does not lie with a speculative interest
Even this afternoons reports probably would have
had little effect if there had not been snii
taueous bear" raids made. Little long stock
was distributed but there n food % short
selling al as low figures as IL was possible 10
make The sellers on the report of Chairman III
Walkers resignation are liable 10 be sadly DIS
appojntcd at the developments Of the next forty
ciltht hours I;ut settlement settlement
there stand out the auditors reports Of railroad
earnings OF the thirty-scvcn companies when
have reported for the third week in May only wv"
have failed 10 report gains, and one OF thchi
was Mr. Goulds Wabash. The market closed q,
tbc lowest prices, and perhaps the necessities OF
to-davs lat, short sellers may make lower
figures tomorrow. Nevertheless the market was
undisturbed and closed steady.
TIE BOND MARKET.
The Treasury purchased SllO.2O0 per cen%