New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-04

}ld.Asked.
TIE STOCK MARKET.

1t makes no difference what was the source
Of the wportrd saying Of President Cable, Of the
Chicago, Rock Island and Pacific Railroad, that
" in common with other roads, We are having II
season of adversely" Ii is truc that the state
nlcnt printed on Sunday morning. and. there
fore. il true. il was news forty-eight hours old
nj 10 o'clock yesterday morning. And neither Of
the news agencies printed il in any OF their early
buiic,in> Despite it's publication on Sunday morn
in, yesterday the price of Rock Island opened up
~ per cent from saturdays last figures, ~ Sc Ia,
ana iur more than an hour ruled firm at uhont Sc.
And the grand fact remains that not thl just III th'
r"lncHi That Mr.. tdinineck sent in his orders -
rail Rock Island S,ock did Dow, JONES 60. S
news agency discover tiat there was any NJ"
IA It reprint that Was GttytwO hours Old. That
was after O'Clock. AND yet brokers continue
10 SUPPORT news AGENCIES tlat for NV" years hay"
been working 10 drive customers ont OF ,hrIr
Offices NTH broker, cease 10 support INSTITUTIONS
That retail to their customers. not lews, bnt cd
torials Oh c"nditOus That are prepared and shot
into the market AT every critical moment, they
need no, expect any old-timc activity. For
Instance. almost every day Dow. JONES Il Go. print
that the Treasury yesterday gained So u.'ich on
'n"nce. Tae ordinary reader accepts that state
I.rni .,S say!N: that the Treasury Yesterday took
mdcn IioLry out OF the general circnlutlon
That is not the fact The Treasury may lose
$i"ooo.00r III actual cash In day and yet
gam on iaEnce-a reduction Of current liabilities
Of 81 100000. The Treasury statements as now
made up simple TO the student who will
devote the time 10 anolyze them; but 10 the
casual reader the tai about gains or losses on
balance is worse than hog Latin. II the Treasury
has made a gain on balance 1t is supposed TO
mean tina, it has accumulated 50 much MONEY e.;
That idea is false. Only yesterday one OF the
New-YOrk papers announced that the Treasury
deposits in tho National banks had increased dur
lux the last few days about Sj0O0.0O0 This
conc fusion arrived at by the figures reported
in the 1rcasurers monthly statement compared
with the daily statement OF August 30 Vow
from time in.i:"r"rlai il has been known that
Il. sf.t russ
in tie National lHnh,. with an oifset in the lio-
bi!ities OF credits TO disbnrsing officers; While
credits Oh National. banks made Ia disbnrsine
officers. The "s'h""lnaster seems ~ he abroad
at time when his services never wcr" more
needed ON the financial stan OF newspa~rs
Tie day market opened under n renewed preoe
IRE to sell Rock Island, and the valnc OF that
stock quickly declined from 80 "a to So ~
Despite this tie general market ruled fairl!
steady Amos, irIcdatcly the market began
TO harden under an unnatural buying. "nW The
advahcc was helped along by report from the
site Of Tia" W%rld. FIR. That all dsalrcrlncn's
bc: wafsn tie Rock Island md tie Atcl.ison.
Topeka and Santa FL had been arrpngrd. ="
the raids on Rock Island and At"hison have been
made on snpp"s:tion That the TWO companies
were ia for Il tight and all the other s'nE printed
for 4 reason for declines was simply preparatory
t. the Grand announcement expected 10 be wade
All these things however, are simply cpheineral
sn their effects on the market: they iEan'
IA ac;GaI scarcity OF stocks has reduced the game
to simple exchange OF chlpS-S0mc whttPS, repre-
scnting fiIctuatiOn OF Is per cent and hOin~
blnrs. representing 4 hnctuatiOn OF | per cent.
After material advance in all Ggures-RocE
Island up 70 ~ lie and other stocks proportion
a,"ly hrner--a raid WAS started on Chicago. Bur
lns,on and Quincy stock. and it was rapidly sold
OF from lOI l.? to 90. The movement WINS made
for the same interest TINT ycstrr'nv sold Rock
Island down to 80 IL and this morning to 81 "a
while Rock Island from it's advance 70 - ~
yielded to az is. The whole market as il was
Yesterday moro or less affected by tlcS' late
nanipnlafions, and vet it. generally closed higher
than last nights figures. II is the same old story.
natural conditions without any bnll cOnibinu ton.
and scarcity Of stocks holding the outw0rkS
against The attack of desperation the part OF
onbred leadership 10 which success or failure
means fortune or bankruptcy. The market closed
strong.
TIE DAY IN TIE BOND MARKET.
There were 10 transactions in Government bonds
al, Tie Stock Exchange. Harvey Fish Il Sons. Of
No. - Nassan-st., advertise that they will re-
deem the ~ per cents at l04 IL. and also
that they prepared TO supply other legal
Investments for saving banks. insurance conf
panics and trustees AS the l-2 per cents at
iV4 l." ale drawing no interest but are receiving
one wears interest without rcbate. there can ie
10 other legal investment tor trustees that is
not q better investment. The quotations for the
currency is were advanced about l-2 per cent:
otherwise the quotations are unchanged and are