New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-02
CLOSING PRICES OF CALIFORNIA STOCKS.
San Francisco, Dec. !, 1891.
WHAT WAS DONE IN STOCKS.

Tuesday, Dec. Up. m.
The bnving power in the stock market appeared
TO be exhausted to-day. The general movement
Of prices was downward, because buyers were not
easily found even for the moderate amount OF Sc
curities which were offered The declines that
were suffered were due more to sales by wearled
holders than to fresh attacks by the bear faction
The weakness Of Richmond Terminal, for instance,
could not be ascribed TO selling for the short &C
count. unless it can be believed that the "ad-
iustment" committee sought to anticipate the
probable result of its investigation. The stock
has been distributed widely, and the decline sim
ply proved the indifference of the public. No as
sessment can be levied legally on the stock, and
q foreclosure would require a number of years
To reach harmonious adjustment OF the affairs
of the company, it will lie merely necessary! there
fore, to ask the shareholders and, perhaps, the
owners of the collateral trust per cent bonds
10 raise certain sum of money within specified
time. This will not be an assessment, but purely
voluntary gift because the laws of Virginia. under
which the company was chartered, forbid an as
sessmcnt AS some of the interests which are
actively in favor of reorganization are not large
holders OF the common stock, the selling by che
public is partially Offset by buying in the eXpec-
tatiOn of controlling the approaching election OF
the company. -
Iiichmond Terminal, however, was second in
point of activity to Northern Pacific preferred, ana
TO Missouri Pacific III the extent OF It's llnal
was started by the unlounded rumOr OF the death
If Cyrus w. Field, but after this rumor was
denied the stock forgot to rally, and 1t closed
at practically its lowest point with decline oil
. per cent The activity Of Northern Pacific may
have been caused by selling for the short account
but il would not be surprising If the financial dis
turbances in Berlin accounted for good deal OF
the recent weakness in the stocks and bonds OF
this company Outside of the stocks already
named the market fairly firm. Burlington
and Quincy was cOnspicuOusly strong, and, al
though it yielded something in the late dealings, II
closed absolutely small fraction higher than ITS
last price yesterday. The final declines In the
other Granger stocks, and in the prlcipal Wander
bilt stocks were not IA or l-2 per cent, ana
indeed the substantial stocks offered stubborn re-
sisted TO the influence eXerted by Richmond
Terminal and Missouri Pacific.
The movement OF prices was not unnatural.
The recent shock to public confidence caused by
tie disclosures of the methods OF a prominent
| firm the virtual cessation of the gold movement
and the irmness of the foreign exchanges in spite
OF the continued heavy exports Of merchandise were
not good reasons for an advance In prices. The
closing was rather weak, but in view of the
circumstances the general strength of the market
was remarkable.
THE DAY IN THE BOND MARKET.
There were no transactions in Government
! bonds and the market was hardly steady. Coupon
| As lost the gain made yesterday, and holders OF
| registered 4s offered slight concessions. The