New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-10

l.nur> IA. pcI. - ~


lie stock ll.Isrt was more ac'Iyc i"-dtv tntn
Il, any i.lr since the lcrr', decline vs. started
nil the middle Of tie ai;ernopn ii" o"1rN' Of
price, WAS downward. alth'uCh l!Hcinatiou> were
frequent and occasIpiully wiGc. In the last h'Ir
there was Il sharp turu in ,hc current, and I" tie
end price, advanced rapidly. Whether these facts
Indicate the elimination Of the downward move
inent is not certain SECRECY i an essential part
Of successful speculation. and Throughout the re-
cent depression it has been preserved with great
care The authors Of the manipulation must bc
credited with having "A purpose. and there are
some signs that II II very near il achievement.
If II was simply I" protect Il large sioi' ImIrr-
est lis success has been ample; II II aIiuci al
IA harmonious rc-cstabshneu, Of railroad rates and
a settlement Of vcAcd questions in rat,Ioad rl1:-
agem"nt, The end probably is not far OF Meet
ngs of railroad presidents are t. be held soon III
TINS city and at the West and there j, reason "
believe that the results VIII b" aNorah.c /" the
holder, of railroad sturts and securities The
questions that will be hrDgSit forward tor dis
cusson will be- approached. II may be iuicrr"'l
with humility and earnc>'IcS> that were ha!d!y
possible when prices Of stocks were from ~ 10 -
per cent higher. Most railroad managers have
heard something recently from their employers
ana they are no' likely to mi>'..h" '"r i"lnI"' Of
tie security holders. In manT other WAvs matters
are shaping themselves IN the right direction.
he recent decline IN prices hhS encouraged fresh
buying and gradually, and perhaps inJcrrcpiibly.
stocks have passed into strong hands The lIqui-
dalton has fTrli for weak q: timd accounts and
important Interests have been added 10 the list Of
investment hUlIcrs, while the Short interest
has not teen r:u"ed 10 tie point Wi.cre il ccae's
to b" Il large speculative factor. The UIoErincnt,
Of prices tO-i;.v proved inrlnatirn on the part
OF The snL bears to curtHil their ENGAGEMENTS
~ would IN lmprudcnt 10 char9" them with uII2-
mating lie rln,urs OF financial panic IN l"ndpn
but thrlr efforts 10 dinlod.r " long STOCKS were
most energetic al about the saline time aIt their
purchases immediately aiicrwaTd we've made with
some ear"rrc,s The Results were sharp advance,
and strong and confident closing. The st"cl,>
that had recently been soid with the greatest rrr
lcssnrSs made significant gains. The Granger
shares closed invariably higher, with advance,
from IA per cent III ST Paul I" - per cent in
Northwestern. A late movement IN Western mon.
which also left il nearly per cent HIGHER. may
POSSESS more than SnrrcilI meaning The
stocks thai scored final Declines o. IN other WORDS
failed 10 recover their earl, lo,srS generally
slecialtes like New. England and Ricllin"nI Ter.
Thlna All hUuIh Reading and Atcii<Uii were among
them The strength Of Tie UIartrt in the last
hour WAS not affected by the nrw notice Of III"
treasury. which Was not made known until la'c
IN IN" Afternoon The action of SECRETARY Win
dom in Offering 10 redeem tire outstanding 4 -
per cent bonds unrNp "cicd aud t. nnuy sprcli-
latOrs II may prove n disa.T"tlc surprise.
TIE DAY IN THE BOND MARKET.
Government bonds continued t. bc neglected
al the boards, and quotations. rcduced
follows