New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-18


The news furnished to Wall Street to-day by the
AGENCIES was little worse than any that has been
furnished on any preceding day The purport oil
il may he stated III a single line The Chicago
and Alton Company and Mr.. Gould were bound 10
carry everything to one eternal smash unless
they had an aforementioned worth the paper 1t
would he written on-eXactly suited - their pc
culiar ideas And yet the stock market to-day de
ycloped more natural and firm tone than II has
done for months before. The bears on Union
Pacific and Rock Island travelled all the way -
salt Lake City to obi9in news - Of the ABSORB
ton by the Rock Island Company Of ne Denver
and Rio Grandc and Rio Grndc Western railways.
and of its intention 10 push is extension 10 the
Pacific Coast. Yet despite this Wall street man
uiactarng Of news, [ mon Pacific closed l.; per
cent h .ner than last nislt and Kocn Island
per cent higher II seems as II The oiclul icppiin
OF earnings were getting 10 b" i litc too hcas} an
Offset against the n"", manuiaciniri ioi d,.n''
sion in values. Thus far the reports Of car n:nes
Tor the second week n Aprn are more favorable
than those Tor the first week. And get, accord
ing 10 the news p with which ever. broker
Office is craInined from 80 10 > o'clock every day,
the railroads have no business ami ;Aai Aoih'n-
they are carrying j. profitable. because "a clronlp
is presented with iili receipt for freight 10 ;hc
shippers Of single boz, bu>hc - barrel that hc
can hc induced 10 send To- a market
In the interest Of The value Of seats ~ ;hc Stock
Exchange 1t IS 10 be hoped that brokers carrying
ifel2nt agents accounts are backed hN a IihI-lN
more substantial than that Of Special and secret
Information. decentralization ~ the rates for
traffic and large gains III earnings are not consist
cnt one with the other. !, IL not time for thr
honest presidents Of railroads - investigate thr
speculative accounts Of their subordiuolcs, VINO
furnish tie bulk OF Wall street news?
While the whole market ruled strong. special
feature was the activity and advance ~ Delaware,
Iackawanna and Western stock. Two days ago
II was auihorilatlFciy announced that the snort
interest In tie market was al closed out. As IL"
To- .Nn q
the bears with all the stocks required al III"
lowest price was dead, thoughtful folks accepted
the statement with an ounce or two of salt Della
ware. Lackawanna and Western is in no better
position than II was two weeks ago. II iLcA
was and now is earning its full per cent on
its stock. But there has been 10 revival In o."
coal trade IN that time. The stock, IKE nearly
all other good stock. is principally held IN the
strong boxes Of investors. \ small pool in Della
ware. Lackawanna and Western has accumulated
large part of the outstanding short contracts
10 deliver The stock" As Vet The pool makcs
10 demand for delivery. on Tie con
trary extends tic contracts at liberal
rate OF interest each day: but they
quietly have advanced the price for contracts,
while the hears" are less dcsirons 10 sell il ior
100. The price for contracts closed ~ per
cent higher than last night and the bears" are
watching an opportunity 10 puncturc il. What
: being done in Delaware Lacl,awanna and West
ern mav D." done with any Of the good stocks on
i've list. irrespective Of their merits They ere
all largely ovcrsod hut there have been 40 >pccu-
latiyc bulls 70 take advantage Of the situation.
The speculative giants Of the Street and they are
small oncs-haVc been and are enlisted on the
bear" side If the market They pray for and
work for and nay for information that will hold
the stock market dan with the hope Of firing
holders Of securities ont What they need is the as
sistancc Of railway auditor, who send ont the
official earnings Freight and passenger agents
have outlived their usefulness unless we can
carturc the auditors The market closed quiet
and rocky
THE DAY IL THE BOND MARKET
The Treasury purchased SI43.50O bonds 1 per
cents & 900 a 1872 and - Der cents 81 800
At OF 10 There were no sales of Governments al
the Stock Ev"hnnee. The quotations WIRE
c,codv rs follows: