New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-08
WHAT WAS DONE IN STOCKS.

Wednesday, October Up. m.
Speculation in railway securities was restrained
to-day by o holiday in Chicago and continued
apathy on the part of the public. Prices receded
under constant pressure by the bear faction, which
was deeply concerned about European affairs
Rumors of financial embarrassment in London were
reiterated, although the Grmness of British consos
which are en- unfailing barometer, proved that no
important disturbance had taken place or was even
expected. Withdrawals Of 81, 100000 from
the Bank of England only made 1t more certain
that its discount rate would be advanced at the
weekly meeting of governors tomorrow, while
depression at the Berlin Bourse, rum0rs that
the Russian Government was about to prohibit the
expectation of wheat, was supposed to have some
occult bearing American speculation. Aside
from these foreign influences the bear faction laid
great stress the reports that in some sections
of the country wheat was rottlng because the crop
was so lar~e that all of it had not been threshed.
In other places the weather was said TO be unfavor-
able to plougmng for the new winter wheat and
year were made with an assurance that
could not be gainsaid II the advocates of
lower prices had theory which could reasonably be
entitled to the smallest consideration, it was that
wheat would be held back for higher prices and
that, until the new corn began to move freely,
railroad earnings might be disappointing. 1t was
overlooked, of course, that restraint OF free and
natural movement would defeat itself because an
advance in the price of Wheat Will inevitably
hurry it TO market Railway returns, moreover.
give no indication of falling off in receipts, and
every day they are more and more favorable to
further advance in railway stocks and bonds.
That some companies should be forced to spend
money on their road and equipment is not sur
prising, but these OUTLAWS will merely add TO their
capacity and ability to earn money.
The fluctuations in the market to-day were fire.
quent if not spirited, and strength aud weakness
followed each other with surprising CELEBRITY The
trading was largely professional and, if there was
no outside demand, there was also no pressure of
long stock. The bulk of the selling, indeed, APP
iIme of that interest must have been increased
materially by the days operations. The closing
was made TO appear as weak possible with due
regard to the fact that the sales must az time
be protected. 1t was hoped by the most sanguine
bear traders that the weakness would have an
appreciabe influence the London market and,
in other directions encourage selling for the long
account The real holders of stocks, however
have not recently shown an inclination readily to
part with their stocks, and there has been no
change in the financial and commercial conditions
sufficient to create a different sentiment The de
clnps that were achieved were generally small
and the largest ones were due wholly to the speech
latiye process known as hamnering. The leading
shares lost about per cent, and Missouri Pacific,
after slight rally, closed nearly per cent lower
In view Of the extreme dulness these losses were
neither important nor significant
THE DAY IN THE BOND MARKET.
Moderate sales of both registered and coupon 4s
,vere made at full prices There no change.
however in the quotations Of any of the issues,
which nj the close were as follows: