New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-20
WHAT WAS DONE IN STOCKS.

Monday, Oct. 19-p. m.
The motives which led to the selling Of stocks
on Saturday upon the publication of an excellent
bank statement. doubtless inspired the early at
tack on tO-days speculation. Evidently there
still are interests that need TO be adjusted 10 the
Aattering outlook of the railroads and of general
trade and so long as the public is apathetlc, ef-
forts will doubtless be made to effect the adjust
ment az the expense of holders. unfortunately
for the bear traders their repeated manipulatlons
fail TO bring long stocks TO market, and when
they attempt 20 replace their sales prices advance
after the fashion of the late rally list week.
The success achieved to-day in the direction OF
depression was measured by small fractions. which
left more contracts TO be covered at some future
time than were in existence at Saturday noon.
The character of the days markets is Indicated
by the continued leadership Of Atcnlson, which 40,
sorbed nearly One-fifth OF the trading ana ended
down only SIS per cent. About two other stocks
on the list were dealt in to an amount exceeding
10000 shares. -,
Perhaps it was an error 10 make the opening
demonstration against Missouri Paclne. Inc urst
sales of that stock were at 50 ga decline OF 5-o
per cent from Saturday it fell 10 80 SO and later
sold at 60 l-4a60 The power for eVlI In Uhat
stock is exhausted, and as the company mas IN
to exhibit It's weekly earnings, regular STOCK
holders will be furnished with some OASIS on Whch
to estimate their prospects, instead OIL having 70
wait upon the givingS-out from star Chambers
Missouri Pacific contributes handsomely 10 the
returns of gross earnings for the second week of
October which will be found in our regular tables
below and il makes of the twenty roads
which out of twenty-five reporting record ma
terial advances from year ago Almost the ONLY
material decline in price to-day was Is per
cent in Union Pacific; and the movement, instead
of disturbing the market, drew attention to the
position in the short interest. An incident was
the break of 3-S per cent IN PACING Mall on the
rumOr Of bond issue, the price later recovering
- per cent We understand that the company
has decided upon an issue of $4,000 600 per cent
bonds for the construction OF new vessels Tor lts
China service provided it secures the contract
from the Government TO carry the mails under
the new pOstal-subsidy law.
AS the company expects TO reap S45O,0OO per
annum from the China service If the contract is
obtained, the means by which the capital is pro-
yided cannot be criticised, and the Stockholders
will be actually benefited by the excess Of receipts
over the SI60,00O annual charges.
The important development OF the day lay In
the material decline in the rates for foreign ex
change An increase in the supply of cotton bills
comes upon that market after the liquidation OF the
sterling loans which were responsible for the ne
cent stifening OF rates Bills drawn against the
late heavy purchases of grain for export are also
in sight and even without a revival In the foreign
demand for American securities II Is probable That
a renewed influx Of European gold cannot long be
prevented The European steamers arriving
since Saturday have landed more than 81, 900, 600
of gold and the plethora OF money now assured here
must finally he felt in all the security markets.
THE DAY IN THE BOND MARKET.
There were no sales of Government bonds and
the bids for the extended l-2s II per cents. were
reduced IA per cent. The asking prices for the
As were raised IA per cent. Annexed are the final
quotations: