New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-18

WHAT WAS DONE IN STOCKS.

Friday, Oct. lip n.
A premium is offered for public reason why
to-days stock market was the exact reverse Of the
conditions which ruled yesterday. The secret
reason is that capitalists railroad managers and
the allied banking firms with high regulations
had exhausted their power i'll marking depression.
The timids' of the market had been shaken out
before yesterdays desperate effort and failure to
mark a lower range of values was made. Prob
ably there were never was more public exhibit
tisn Of the washing Of dirty linen than that pre-
sented at yesterdays Stock Exchange, particularly
in the Chicago, Milwaukee and st. Paul stock.
But as the forty governors eighty eyes see nothing
that is not by the left eye Of the secretary,
they remain in happy inconsistencies OF any
violation Of their rules. But let one OF the
members, forgetfl of their rules OF decorum,
thoughtlessly rest his feet on a convenient chair
for a moment, and the whole framework Of the
institution is shaken to its centre. Under the
disCraceful washing operations of yesterday, St.
Paul stock recorded transactions OF 1917 SHARES
at 50 3-4a5S IA at the opening down to % and
at 80 So the close to-day, with reported Trans
actions in 29,600 shares, some OF which were
washes, the price rises from 50 "a TO oU LA
COILS We have selected this stock for special
comment because it perhaps best ilustrates tne
connection of reputable bankers with ralroaa
managers in the late "cruel war made on STOCK
values.
The whole market however, on its surface pre-
sented better tone than it has for the last 1our
weeks The tendency In all prices was upward.
but the advance was fought at every t tcS wf
cent vet with weakening Of courage. AlchiSoh,
Topeka and Santa Fe marked an advance OF IA
per cent on last evenings price and cioSed WIFE
the immateral reaction of IA per cent at 80 SS.
A week ago its price was 33 two months ago IL
was AS. Philadelphia and Reading marked maj
gain Of 3-e per cent, although it is well known
that the stories Of Vanderbilt connection are a
long way premature, if not altogether false. Next
TO Chicago and St. Louis, Philadelphia carries the
greatest pressure Of imagination. Louisville anu
Nashville which for day swo found mas liberal
buyers at 70 I-2a79 IA. Even Big Four, with
its almost assured dividend Of per cent, If not
per cent, to-day kicked over the traces OF the
holders of the reins OF the manipulation ana
scored an advance Of l per cent.
Chesapeake and Ohio common stock was, on
March {, 1889, II IA, to-day q; second pre- pre-.
first preferred, which on March Z. 1880, sold at
Ca to-day is called strong at Sc, after rally Of
nearly 4 per cent. The common stock. after a
than in March, 1885; the second preferred, after
decline Of 0 per cent from it's highest figure: Is
now ga per cent higher than In March, 1889 |:
to per cent dividends before the others are
March, 1889. The public now have the first
preferred stock and the insiders have h sne Se
Wall Street. It probably means no dividends gu
any stock till one H cdrDeu on inc Coluuiou ecuCA
But the frst preferred stockholders, by uniting
aud calling for an accounting. may make it very
unpleasant for over $500 100000 Of concentrated
wealth. The changes In the market values OF
the different classes Of stocks since March, 1889.
are positive evidence of the change of interest
on the part Of the managers, and suggest why
the dividend on the first preferred stock. which,
under proper system Of bookkeeping would have
been earned, was shown not to have been earned
and was not paid. ,-,.,
The Wizards to-day marked handsome recoveries,
North American up 10 to "a 3-sa34 IA. ana
Northern Pacific preferred up 2 per cent at "A Is
ala Delaware. Lackawtlhna and Western was
left to the mercies Of the traders, but 1t maiks
an advance of 7-e per cent. The list generaiiy
shows gains Of from la2 per cent. and the
feature 70 thst the gain: were ana mot
NAKED The dealings Of the other days Of this
week. The market closed quiet. but firm. AZ
about the best figures Of the day.
THE DAY IN THE BOND MARKET
There were no transactions IN Government oonos
follows: