New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-07
crosIyG PRICES OF PHILADELPHIA STOCKS.
ITEMS WHICH WILL TELL.


To-day's prompt response 10 the treasury
offer 70 resume the purchase Of per cent bonds
settles the question Of the moucy marle. till
after April l. The threat Of a manipulation
pcnding tie usual April settlements has been
a dead weight about the neck not only of legiti-
mate speculation on values and prospects. but also
on the carving forward Of legitimate enterprises.
The Secretary Of the Treasury is to be congra'-
Mated on having grasped the situation and fru5-
tratcd the intended work OF set of stock opcr-
ators who for q gain OF Is per cent In stock
transaction. have shown their readiness 10 mar
the whole business Of the country. This refer
cncc includes not only known professional oper-
ators of Wall Street. but also some bank officers
and many railway officials.
Thirty-ight railroad companies or systems
have reported their gross earnings for the month
Of February OF the total number. thirty-thrce
have returned gains and only five have returned
loss,s on February lss9. The phenomenal char
acrcr of the reports is sufficiently shown in the
following table Of comparisons. which divide the
aggregates and differences of the companies show
ing gains and losses
Month Of Fob. 1889. 1890 Differences.
30 coaIaa - sisG677s si sol Inc. SASS o?2
IS co.'s. total si89os so7 ~ so SIS Inc a. 1872 OF
TIE STOCK MARKET.
The stock loan market reflected little or no
change In the relative position of long and
short" stocks in the general market. II looked
less this morning like liquidation OF longs Ill
Philadelphia and Reading than 1t did last night,
That stock was III increased BORROWING demand
instead If being plenty. The stock, however,
continued heavy all day TIL near the close III
again monopoli1cd large part Of the day deal
ings-lS2. 800 shares on of total Of 25t,lOp
shares for the whole listed department. After
opening OIL Ii per cent AT 80 II 1t naturally
reacted to 81 IA. and then was slammed and
hammered down TO 30 5-S, only 10 revive ana
close at 30 3-.-tlc same ms last evening. III Is
now evident that desperate fight IS going on.
The speculative "buls' to-day have exhibited
courage and confidence and have mastered their
opponents 10 the extent Of a largely increased
short" interest. Under existing general condi-
tions. the next twcnty-four or forty-eght hours
should determine the mastery. Ike bulls nave
it, if they hold together
Chicago Gas WIS an interesting feature in the
DAYS market 1t was early sold down from
# IA TO AZ - AT this low point the surprise
was sprung on the street II was tins LAWYER
by the name OF Charlton. in his own behalf. APP
piled TO the Chancery Court for the appointment
Of receiver t. sell che property and wind up
the company. If did not know who the
speculators are that instituted the proceedings
we should be compelled 10 believe that a lawyer.
on his own motion. bad bronght the proceedings
in defence Of sound financial morals. The alb
surdity Of the whole AFFAIR as estimated by the
street was exhibited by quick rise 10 AZ "a
ms soon az il was informed Of the reason why
CHICAGO brokers had sold the stock down.
Louisville and Nashville again was raded and
declined to s2 3-l, closing at SO -. against
S3 IS Yesterday. The general market in the
meantime had ruled dull and firm. The know
ais who yesterday bid 1913 for the Government
4 per cents to prevent offer OF them TO the Treas
ury. were taken by surprise by the days large
sales to the Treasury. 1t knocked part Of their
int h1 manlpnlaiions cndwisc. ana they were
unpreparcd to resist the last few minutes OF
natural movement. which upward People
have profted tv taking counsel OF The Tribune
during the last year on the condition Of the
l,,, Nal,Nt