New-York tribune., 1891-09-24
CLOSING PRICES OF BOSTON STOCKS
$50
WHAT WAS DONE IN STOCKS.
Wednesday, Sept. 23-I

Wednesday. Sept. asp. m.
The reaction in the stock market which was
begun yesterday, was continued with varying sue
cess to-day. The opening was weak, partly IN
consequence of declines in London and free sell
ing apparently for foreign account. The princi-
pal and most effective influence was eXerted by
the large interests which for some time have
bent ali their energies to bring about lower
range of prices. The leader in the downward move
ment was Missouri Pacific. which gradually fell
| II per cent, but it ably seconded by Union
Pacific which opened l-2 per cent off and further
decined full point, and hehind these followed
other stocks under the control OF these
Union Pacific is the only one which is dealt in
at the London Stock Exchange, and throughout
the day there was difference of frem 1-2 to l per
cent in this stock between the two markets.
The circumstances fully justified the suspicion
that the selling movement abroad was started by
orders from New-York, although it is believed
that some of the big London jobbers would be
more than pleased to see "A serious reaction. IL
must be noted also that while the leading Gould
stocks declined heavily from the opening, the
favurtes in International speculation yielded
much less readily. The declines in Missouri
Pacific and Union Pacific were followed by adj
verse rumOTs, which evidently could have sprung
from only one source. 1t was reported that the
Missouri Pacific dividend would be passed and the
plan for the relief of the Union Pacific Company
The latter rumOr was contradicted speedily,
hut the mystery about the Missouri Pacific divi
dend was not dispeled. Even after the close of
business the stock was offered at large concessions
from the last official price, although that showed
a final loss OF nearly l per cent. IL may
reasonably be doubted whether reduction.
or passing, Of the dividend would have
more than a passing influence on the general
market The purpose 10 be attained would be
understood clearly, and for that reason might be
defeated The efforts in behalf of an important
reaction have been vigorous, and perhaps well
directed, but public interest in Missouri Pacific
is not sufficient TO permit decline in it to affect
other stocks The passing Of the dividend would
probably separate that steck from the general
which attended them combined TO suggest the
inquiry if the failure of Messrs. White. a. Co
might not have been avoided If certain large
interests had not been in faver of reaction in
stocks.
The depression brought dulRess, and when the
inaction overcome In the middle of the after
noon prices advanced quickly and with spirit
Granger shares-the real leaders Of the market
closed strong at their highest points, with final
gains of from l-2 10 | per cent. Erie was con-
spicuOus by its activity and strength, and the
excellent condition Of the company is being more
fully appreciated here and abroad. The Willard
stocks rallied easily and North American added
another large fraction TO its recent improvement
the few stocks which led the early decline, al
| though Union Pacific nearly recovered its loss.
THE DAY IN THE BOND MARKET.
There were transactions in Government
bonds. and bids for the As were reduced Ia per
cent Holders were apparently loath TO confetm
their views 10 those of would-be purchasers The
ttntn ftnp cNpQro g. foli