New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-31
CLOSING PRICES OF BOSTON STOCKS.
WHAT WAS DONE IN STOCKS.

Friday, Oct. 3O-p. IN.
The extreme weakness Of the anthracite coal
shares was .hc conspicuous feature Of the stock
market to-day. A bitter warfare between The
coal comua.ies would be indisputaoly a Doo' 70
the bear faction and its faint-heafted opponents
who have recently sold stocks for turn on NE
bear side Of the market. The theory on WHICH
these stocks were freely sold was that the com
panias had consented TO practically uhres'rIc~u
produc.ion in November, and that TINS aoj-noh-
nent OF . long-cherished policy meant compete
decentralization in prices. The monthly a4ior
nsn. hos NOT been observed closely for several
months, AID the fact that TIRE Reading company
has exceeded its quota was sufficient basis fol
the conclusion that the course OF TINS company
had a,oused dissatisfaction which was certain
to be aggravated by freedom of production IN
accepting this theory the sellers Of the coal stocks
appapntly disregarded several important con-
alterations While the output of coal Is lar
beyond that Of any previous year in the history OF
the trade the amount Of coal at tidewater Is small
and although the shipments TO Western points
may be in advance Of the immediate demand
the approaching close Of navigation Justlhes me
companies in their precautions. In Drlel, lhe
condition of the trade Is such that the extreme
limit OF production Will be absorbed without
material shading of prices. The suggestion lhat
tie activity Of the Reading Company VIII leal
10 serious conflict with It's competitors Il equdllA
illogical. Apart from trade conditions. there Is
every reason 70 believe that the bankers VINO are
the chief support Of the company WOuld Hot
tolerate for a moment policy which might IN
pair the value Of the cOmpanys securities. Ids
restraint would probably be felt long before the
large output Of the Reading mines would be per
mitted 10 excite the enmlty or other companies
or a disastrous cutting of schedule prices.
The selling Of the coal shares was for both the
short and long account. Under continued sales
by timid holders, Delaware and Hudson fell about
4 per cent although ii rallied l per cent from It's
lowest point. Reading sprang into unusual prom
inence. but, in spite Of heavy attacks, II closed
only SO per cent lower. while L4ackawanna.
which was much less active. suffered loss
Of over . per cent. The decline in New-Jersey
Central was only a fraction. The weakness IN
this group Of stocks affected the entire list. but
The inf uence resisted with much spirit ana
force The general declines were about l-223-4
per cent in the active stocks ard considerably less
in stocks like Eric, NewYork Central, and North
west. CLriously enough. the Gould stocks were
relatively firm, end Union Pacific closed absolutely
while Missouri Pacific and Western
Union suffered losses of only small fractions
The favorable developments Of the day were
overshadowed. but the fact should be noticed that
the open market rate of money was not main
tanned in London and that in spite OF The ad-
vance in the Bank OF England rate Of discount
fresh shipments Of gold from Europe were an
nounced-
THE DAY IN THE BOND MARKET.
There were no transactions in Government
bonds, and the advance in As yesterday was not
maintained The market not weak at these
closing quotations