New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-15
CLOSING PRICES CALIFORNIA STOCKS.
San Francisco. Nov. a. 1880.
CLOSING; PRICES OF PHILADELPHIA STOCKS.
THE DAY IN THE STOCK MARKET.

Friday, Nov lap. H.
The stock market still is unsettled and re-
sponsve 10 every and any wild rumor that may
be started by grand manipulation through a
casual but calculated remark dropped TO MS
morning bootblacl. To-day the air was full OF
damaging reports that came from an unknown
source. Among them was one to the effect that
somewhere in South America there was large
bank in trouble and that its failure would dis
turb London and be reflected on the New-iork
Stock Exchange. Inasmuch az 1t has been claimed
and repeated time and again that London had
been forced to sell all of its Americans" the only
marketable securities il had the question is not
inopportune: is London running an American
printing press that turns out over-issues OF Amer
lean stocks?" The last settlement day in Amer
leans developed the fact that the speculative IN
terest then was on the short side. We are
not disputing the fact that these rumors OF DIS
aster anywhere, even in the centre of Africa, do
not affect the market for securitles on the con-
trary. we assert that they do SO to an unwar-
rantable measure. Where there was one man
about Wall Street month ago that foresaw the
speculative conditions now ruling, there now are
one hundred that predict the worst Is YET
to come. 1t is by the use OF such fresh-water
ducks that the operators who nave MADE tne
present conditions will be able to gather unto
themselves the salvage Of all the wrecks they
have occasioned Yet there is steady increase
of outside buying which having been invited by
the large declines does not heed the common
talk or gossip Of the Street. Whether prices do
or do not find loser level than that yet reached
it is recognized by them that generally market
values are below merits and tna5 a,er or re auS
above is not far distant. Ill.,, ....ua
The DAVIS market was strongly inclined toward
lower valuations; that was the feature a. III, .iii
opening, and it continued TO be the feature tlii
the close dcspite Numerous reactions North AHeii-
can stock was less feature than II was YESTERDAY,
hut il was the strongest OF all STOCKS from ~
H. declined to H. and closed at ii Ia, against
II Ia last evening. Northern Pacific preferred
stock was the weakest in figures Inc reporteo
transactions in it were over 10000 shares nno
it's price through frequent fluctuations. fell from
so i-l-against SO "a last evening-to 5;a51 IL.
OF course this decline, il permanent, reduces the
vslue Of North American. which r Sioseu no NO
necessity OF repeating here the many theoriiS that
were circulated in the Street. on the one sac OF
continued liquidation, and on the other SIDE OF
Of present holders, who sell out their individual
accounts at the Stock Exchange, while the pool
purchases all OF that and n spsn Other ne a
romance that Enthusiastically will receive que
attention in the sensational columns Of other pa
mostly interested IN is not the manipulating.
but the merits. of the stock. The preferred stock
of the Northern Pacific Is entitled 10 per cent
before the common stock can have any dividends
II has been paying per cent, and il may safely
be announccd to be certain per cent stock
whether or not for investors it Is cheap at 81.
when they compare it with their other oppor
tunities.
Delaware Lackawanna and Western to-day
weakened. and the room traders sold it with
freedom equal TO their fear Of IL when it was 10
ner cent higher II sold down from 1873 10 1871 1-2
aI31 rs Union Pacific declined 2 81 per cent
% IL IA ~. Paul was of 3-s at ~ 1-s, after
sales at as "a. Big Four closed "a lower. and
Itcbison 80 lower at Is 3-4. Sugar late IN the
day sold of about per cent and closed at 53 a
agsinst SIS 7-S last night. The whole market
Closed feverish and unsettled.
WHAT WAS DONE IN BONDS.
A small lot Of Government per cents found
mn rcbaser at 1881 per cent below the last SALE
and because Of II the asking prices for TIE per
snes were steady at quotations which are as fol-
I0XR.