New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-25
CLOSING PRICES OF BOSTON STOCKS.
Rnstnn. 1901
WHAT WAS DONE IN STOCKS.

trlday, July Zap. N.
The stock market was little more active to-
day. and, as usual recently, new life brought
lower level Of values. The adverse influence was
hardly the engagement of $500, 900 gold for
export, because that was expected yesterday, and
the formal announcement was received with in
difference All other developments were in favor
of an upward instead of a downward, movement
Of prices. Large engagements of Grain for ex-
port extraordinary receipts at Chicago and other
interior points, and immediate advantages of both
movements certainly overbalanced a small ship
ment of specie which had been foreseen and
probably discounted At the same time, the mar
ket exhibited signs of weakness which 1t has not
before shown. 1t was evident that many stocks
which are not usually active were being quietly
pressed for sale, because the holders lacked money
even if they were not deficient In confidence
Moreover the continued stagnation in the railway
bond market is beginning 10 have an oppressive IN
1uence. There are daily fresh indications that
small holders may be forced 70 tighten their bur
dens because they find IL difficult 10 obtain time
money on advantageous terms. Railroad com
panies and other large borrowers are suffering
from the same causes, for they cannot sell their
bonds, and they can obtain advances on theni
only from day TO day. With the double dram OF
money TO Europe and the West the city banks
have necessarily TO pursue cautious and con-
sentative course while some Of the largest private
lenders in Wall Street make new engagements
with the greatest reluctance 1t is, perhaps, this
common preparation wllcn may prevent, anu GER
tainly will mitigate, the monetary disturbance
which they undoubtedly fear.
The course of prices was not widely dherent
from that traversed yesterday. The same three
stocks led the market, and again the transactions
in them were more than one-half of the total
business. Chicago, Burlington and Quincy, in
deed supplied considerably more than quarter
of it. There was moderate inquiry for this
stock in the loan crowd at the Stock En-
change, but il was not sufficient TO Justify the
suspicion that the recent selling was largely for
the short account Besides the demand naturally
incident to q shifting of loans, there IS the
traditional subterfuGe Of concealng long sales by
temporarily borrowing the stock The most
prominent feature of the trading in Burlington
Of fictitious sales. They indicate. at least, skilful
manipulation, and as the course Of the prices has
been downward, It may reasonably be inferred
that its object is 10 achieve a decline without
creating large short interest. st. Paul and
Louisville and Nashville, which were next 70 Bur
lington and Quincy in activity, were com
paratively firm. They fluctuated within narrow
limits and closed only Is per cent lower: while
it lost rs per cent. sharp attack, in the last
hour carried Lackawanna down ! per cent while
newfoundland. under small but persistent selling,
declined without interruption, and closed weak
with a loss Of 3-S per cent, The chief excep-
tions to the general movement were Atchison,
ferred which recorded advances of LA l-2 per
cent Otherwise the closing was heavy at about
the lowest prices.
THE DAY IN THE BOND MARKET.
Government bonds continued TO be neglected.
While bids for the LIS were reduced slightly
those for the Is were raised l2 per cent, and the
ourrency issues virtually recovered what they
lost Yesterday. The closing was firm at these
quotations