New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-23

The transactions in railroad bonds, for instance
were considerably under 100000 par value,
although good retail demand at the Offices Of
dealers was reported. In spite Of the excessive
dulncSS there was little weakness in values and
II there was no eagcrncS, u purchase there was
certainly no selling pressure. This was the more
remarkable because the events Of the week were
opposed 10 an advance. The reduction in the
dividend rate of the Chicago, burlington and
Quincy. and the manipulation Of the stock before
and alter the oiiclai announcement was made
clOudCd the market on Tuesday and in the follow
ing day the failure Of the American Loaa and
Trust Company added its influence. In thc latter
instance the real effect was slight. because tine
liquidation of the company would probably have
10 effect upon the prices OF stocks: but it cAcrtea
a sentimental influence which VIII be fr, more
fully among investors III corporate securities.
The action of the directors of the Chicago Buy
Hngt0n and Quincy was both wise and courageous.
To have maintained dividends at the rate Of =
per cent while the company was not earning
Them would have been SciZeu by the bear faction
as an opportunity Tor heavy assault on values
The reduction, however, adversely affected tn"
urlccs of other Granger shares, and especially
Rocl; Island whose time for declaring It's dividend
occurs I'm few weeks.
H. was argued, Of course, that other Western
railroads had suffered proportioAateiy with the
Burlington, and Il was known that the Western
lines OF the Rock Island had been constantly uH-
profitable. The declines IN any stocks nm
inportant, exceeding {! per cent only in the case
Of Chicago. Burlington and Qnlnc'', and as 4 rule
being less than l per cent. \ l9W shares, among
which ~. Paul and Missouri Pacific were the
most conspicuous closed absolutely higher than
tLry did !, week ago The variations in some
of the spcciatics We're larger, but their effect on
the general market was of little consequence.
4 sharp break yesterday in the Newly orll, S;s-
uuchaEna and Western stocks is worthy Of re-
mark on account of the recent rumor. That
control Of the railroad was likely 10 pass into the
hands OF some unlinown company. Dcnia!S Oh
all sides did not stop the rum0lS, but the d"cl!n"
in the stock cNcitCs suspicion the; the Iurio.i
were entirely speculative aud DESIGNED 10 attoid
q chance for some large hol!cr 10 Tighten his bar
den. The advance in Mobile and Ohio stock WAS
not accompanied by reports OF any kind. although
there is reason to believe thai il may pass within
a not long time into tie hands OF the Limos Cen
trail.
Whether the advance VIII tugn tut 10 be
similar 10 that in the SuSGUCh9nna STOCKS ~
mains to be seen. Another speciality which ".
firm throughout the week was the stock popularity
known a, the Whskcy Trust. which advanced OF
scni-ofical statements Of us prosperous condition.
American Cotton Oil assumed EcV life Tor about
the same reason. and the earnings of tnr N1tlonll
Lead Trust arc said 10 De Vcry favorable. \
development which should have had nor" in
GuCncc on the course of prices was tie rr'T Of
the COINAGE Committee against ii-aH'LI Ircl'i1-
ton about silver. il s confidently cNpcclr !
that this Congress will expire without t7lI2F
any action Ola financial subjects, and II Is to U'
hoped most earnestly that IN tie leW rrmaluir-
days it, Will devote lis attention 10 the plbi.r
the next Congress will he ncccsS1rI. There is ~
doubt that Investors ard spectators would feel
profound relief at recess Of nlnc months III th'
National LEGISLATURE. While the time Of q"
present NVncIcSH u t"p "lici Ioi J.. ~ ''' my
much harm, il is long enough for il 10 accomplish
good by the PASSAGE of the Shipping bill.
Ii is by no means clear. however that the ad.
journmcnt of Congress will inluse new Lie into
The stock market TIE present holders Of So
curities maintain their position with the utmost
confidence and faith in tn" uture, Init they re-
Gently have shown no inclination 10 add 10 Their
hodiras. and public Interest in speculation h's
completely ceased. With less favorable returns
fIom raihold traffic and with increasing signs
OF friction between competing lines ii is doubt. ul
if new interest can We easily awakened AS
alvaya heretofore shrnka1c in railroad traffic
is followed by a sharper rivalry ard more strcnl-
Gus cilorS 10 secure business. \ sllehf dcr2ncC-
mcnt ha, developed between thc Eastern trunk
lines and ~ tic West rumols OF r1tc cuttings have
become uupleasautly frequent.
Following is our usual table. Giving the number
o shares sold Of all stocks the highest. low. est
and final prices of the week together with The
final prices of week acc, prcfiN"l by the aver
age plices of February II, 1890: