New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-23
WHAT WAS DONE IN STOCKS.

Monday. Sept. ??p m.
The stock market was dull and heavy through
out the day In view Of the favorable conditions
which apparently attend speculation, the move
mcnt. of prices was surprise and disappointment
to both speculative and Investment holders Of
stocks. 1t is possible that the extreme dnlncss
invites liquidation on the loug" side. il GER
tainly encourages aggressive action by the bear
faction The return of monetary ease seems not
10 have checked either tendency and the char
acter of the trading remains strictly professional,
without acccssons from beyond Wall Street limits.
Although rates for call loans are excessively easy,
time money is firmly held and lenders appear some
what reluctant to make long engagements After
recent experiences large holders Of railroad
curitcs may be disposed to tighten their burdens.
II only for the purpose " giving more effective
support when il may be urgently needed II is
we'll understood moreover. that certain important
interests are opposed 10 decided advance in
stocks until after Inc adjournment Of Congress.
A variety Of causes made the market dull to-,af
and resulted IN substantial, if unexpected. de-
clinpS.
In the carly dealings savage assault WIS made
on ST. Paul on the announcement Of a large isSiic
Of stock in payment Of the latest acquisition made
by the con- pany. The stock was quickly forced
down TO G. IS, and although il rallied fire.
quently, il closed only a little above its loves
point This attack was followed by one on Rock
Island, which aftcrward advanced, on the derara,
ton of the usual dividend, only TO fall to s'il
lower level 1t suffered a ret loss OF per cent
which is twice the dividend for the quarter. The
other Granger shares moved in sympathy with
St Paul with the single exception Of Bnrllne'on
and Quincy, which was in demand for the Sh"r,
account Union Pacific also declined steadily. tlt
without excitement. and It's hnal loss was over
. prr cent. The feature Of the afternoon dealings
was the activity and abrupt decline In North
American, tho successor company 10 Oregon ana
Trauscontinental. The Willard shares had been
dropping all day, but there was apparently no
selling pressure, and the declines, to the middle
Of the afternoon, were not large. IN the las,
hour North American fell rapidly. and ~ closed
with q loss of per cent. Northern Pacihc pre-
fcrred was less active, hut il suffered proper
tionately, and closed with losS Of about per
cent These were the leaders OF the movement;
and, while Atchison, Louisville aud Nashville ana
q few specalties lost 4 per cent or more. th'
average decline, aside from the leading shares
rarely reached that figure. 1ackawanna we Il
conspicuous exception in closing with a Sign,
gain. At the last moment there were here ana
there indications of a rally. bur reneraIE 'n' ">'
prices were the lowest for the DAY.
THE DAY IN THE BOND MARKET.
The Treasury bought 500, 90 rs ~ par ahd
interest to maturity. Vt the Stock EAcnan- '
Ihe,c were no transactions in Government bonds
and bids for this issue were lowered. he closing
quotations, which were entirely nominal were a.
follows