New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-23
CLOSING PRICES OF BOSTON STOCKS.
Boston, Oct % 1891
WHAT WAS DONE IN STOCKS.

thursday, OCTOBER 22-p m.
The movements in the stock market to-day JUS
titled the suspicion that the larger activity was
chiefly due to the operations Of professional
spectators. The selling for foreign account was
as conspicuous as the buying in the same interest
yesterday, In the absence of definite news, this
was the more strange because the bank rate Of
discount in London was not advanced and the
outflow of gold seemed to be restrained by the
higher rates Of exchange in this country. That the
governors of the Bank Of England are not
inclined, at present. to oppose the natural move
ment Of gold shown again by their action
in reducing the price of American coin. The SELL
ing Of securities for European account, therefore
was plainly not caused by fears about the
monetary situation. The uneasiness abroad is
probably due to political uncertainties rather than
to financial and economic causes While the
relations Of the great European powers are matter
of grave concern. the lateness Of the season is
assuredly substantial ground for the hope that
peace will not be disturbed before the opening OF
spring.. This remote contingency may prevent
extensive purchases, but it would hardly stimulate
sales of American railway securities. general
war, whenever it occurs would have at first an
unhappy influence on the speculative markets Of
this country, but the next effect would be doubt
less an unnatural excitation of both trade and
speculation, while enormous amounts Of European
capital would be sent to this country merely for
safe-keeping.
The Slight depression in stocks, for which there
was apparently no reason, must be accepted sim
ply as one Of the vagarieS Of a languid specula-
ton. There was not much falling off in the vol
ume Of business, but 1t was not evenly distributed
and the transactions in ST. Paul and Atchson were
fully one-third of the total sales. The contest
in st. Paul was unusually sharp, and evidently
it was not ended. The extreme fluctuations In
il did not exceed 3-s per cent, and large amounts
Of stock changed hands at "A Sd and "a rs
Its last price, although the lowest for the day.
was only Ia per cent below that of Yesterday
Larger losses sustained by most of the promi.
nent stocks, and Louisville and Nashville and
Northern Pacific preferred were exceptionally
weak, closing with losses of rs and Is per
cent respectively. OF the Vanderbilt stocks New
York Central and Lake Shore yielded about l-2
per cent, while Canada Southern and Northwest
were unusually active, and at the end were
prominent exceptions by small final gains North
west was affected favOrably by its excellent earn
ings in September which are printed I'm another
place, and the buying Of Canada Southern was
Of a high character The recent strength of all
the Vanderbilt stocks is based on the improve
ment in earnings and on the well-established policy
of the management in regard to the division OF
profits among shareholders. It will do much
in recalling to the market the public
buying, without which speculation becomes stag
nant and unattractive.
THE DAY IN THE BOND MARKET.
There were again no transactions in Government
bonds but the market remained strong, and prices
Of the Is were advanced IA per cent. The closing
quotations were as follows: