New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-09
CLOSING PRICES or PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Wednesday, Jan s-p. m
Again today the STOCK market was little Else
than a coaers' market. OF the total transactions
Of ST. shares in listed stocks. Phlladep hls
and Reading furnished over 10000 shares and
/ Delaware LacSawanna ard Western 5000 shares
leaving for the general list only ll2o0o shares.
Atchison, Topeka and Santa Re contributed 1000
shares and Wabash preferred, Western UniJn 1t.
Paul and Lake Shore each contributed 5000
5000 shares. Excepting these aud Union Pa
cihc, with 600 shares no stock recorded trans
actions Of 1000 shares. And this by the special
writers for the bear" Clique is called dangerous
speculation.
The expected meeting OF the Philadelphia and
Reading directors did not come oil to-day; 1t IS
postponed till tomorrow, and for all We know
may be indefinitely postponed till its speculative
management has got tie stock market into exact
shape to respond quickly ard sharply TO whatc' cr
action il may tax. But, rs at present advised We
think the meeting will take place tomorrow and
the question OF interest on the first incomes viii
be decided The first income bonds of the Pnila-
dcphia and Reading Company have declined over
0 per cent in the last forty-elsht hours. II the
practice Of reporting the monthly returns OF tie
Coal aad Iron Company had not been dlscon-
tuued. perhaps the decline would have been
larger and earlier, but it would not have been 50
sharp The Philadelphia and reading manage
mcnt may rs well understand that the general
impression is that the question of interest or no
interest on the first preferred incomes depends
upon tie standing Of the speculative accounts of
some OF its leading members, and 10, tie public
will take stock III a seemingly olclal state
mcnt tclcgrap hed from Philadelphia that DrcAcl
insisted that Corbin should pass the preference
interest The story is now that CorOln wanted
TO pay, but that DrcNel and Pcrpont Morgan
insisted he should not Neither DrtAc nor
iloreau Is "A director Of the Philadelphia AID Read
lng Company, and their pubic interest Ia the
concern ceased with the competitor Of the re-
organization.
"A lac last two DAYS the transactions in Phil
adcIphIa and Reading stock have amounted 10
$4,000 shares. In that time It's extreme nuctua-
lions have been IS "a yesterday morning and
- "A at the opening this morning. II to-day
recovered TO 81 IL and closed at 36 IS this
tvening-l-6 higher than last evening The
stock for delivery this morning was In demand
at l-64al- 80 per cent premium The two days
operations probably cover a larger amount than
there is of the stock IN this cliy, II not than
there is in this country. The heht on 1t to-day
was stubborn on both sides OF the account and
the speculative result is still uncertain. But II
there any such powerful chqucs in the
Street who understood their business as those of
old did we should have hesitation IN saving
that the stock had corncred itself
Delaware, Lackawanna and Western stock was
in borrowing demand free from interest The
price quickly rose from 1873 3.4 10 l3s. with only
moderate attempts 10 cover When they ceased
without the recovery OF any material amount of
stock, however the price scrtlcd back on trad
ing TO l37 3-S-l - per cent higher than last
evening Lake Shore Is now duh stock and
never is protected by the presence of speculative
orders. So that It's price is easily marked of
To-day it was midcd for effect Lake SHORE M
! % SIS aud Central of Ncw-.IerSey at 1875 -
present an establishment 10 every one eNcept a man
agcment that in four years has made two fail
urcs in the reorganization of what now is called
Ipl Ham nd
was dull and therefore lower in response 70 press
urc but it closed steady.
The Treasury purchased $4,000 bonds: 4 per
cents ~, 900 at 1876. and 10 per cents S7l 500
at 10I 5-S. At the Stock Exchange no business