New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-19

WHAT WAS DONE IN STOCKS.

Wednesday Nov. Tsp. M.
Speculation in stocks was distinctly moro
animated in the morning hours to-day, but there
was no change in the character OF the trading
More favorable news from Europe, or rather the
absence Of unfavOrable developments, led 10 a
general covering of short contracts in the Granger
stocks, and from pure sympathy other stocks ad-
vanced proportionateiy When this demand was
satisfied. the market became first dull and after
ward dropping and, in spite Of a final rally,
large part of the early improvement was lost.
The strongest and most active stocks were Chi
cago, Burlington and Quincy, and ST. Paul, and
OF these the first was aroused by the recent in
crease in it's dividend rate, and the other by its
great gain in earnings. The fluctuations in the
other Western railway stocks were not much
smaller, but strength was less prominent feature
The coal stocks may have been affected somewhat
by the seasonable weather, but the final advances
in Lackawanna and Reading were small fractions,
while the gains Of over per cent In New-Jersey
Central and Delaware and Hudson may not have
been out OF proportion. Inc buying VI .he
Vanderbilt stocks was reported to be OF the nigh
est character, but Lake Shore closed only 5-o
and New-lork Central only shade higher.
The most conspicuous incident OF the DAY was
a sharp fall in the stocks and bonds of the Rich
mond Terminal Company. The preferred stoeE
dropped from 55 10 AS IL, rallying to 81, and the
collateral trust bonds suffered final losses OF over
> Der cent The decline in the common stock was
of less consequence, because that STOCK has Deeh
selling Tor long time on TecelVeIshp OASIS
There was no plausible preteXt for the sudden
movement, and it was perhaps an unhappy com
cdence that the principal oftcer5 OF the com
pany were absent at the annual meeting OF one
of the auxiliary companies Everything else, not
omitting the financial disturbances in Europe, can
be laid 10 the bear faction, but the selling OF the
Richmond Terminal securities could not be en-
planned in this way. Rumors TO excuse The de-
cline were not wanting, of course, but they were
trivial and easily cOntradicted. Important inter
ests connected with the company appear 10 be bent
toward. q reorganization, and the Efforts OF the
present management are hardly adequate to prevent
The accomplishment of this purpose.
The decline in these stocks was not surprising.
but il was amazing that il should have had any
influence on the general market. Perhaps 1t did
not have any real effect but merely afforded an
opportunity for the selling of the Northern racine
stocks and Others which, like them are held
largely in Europe. Although the foreign markets
were reported 10 be less unsettled the selling Tor
European account continued without inter-
mission The advance I'm foreign exchange In the
nresent condition Of trade balances Is a taclt con-
fesson that Europe is paying for its purchases OK
food by reducing it's holdings OF American Sc
curities.
THE DAY IN THE BOND MARKET
Government bonds continue to be neglected at
the Stock Exchange but the market was strong
and bids for the As were raised l-sal-4 per cent
without attracting business The closing quota
,inns follows: