New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-12

WHAT WAS DONE IN STOCKS.


Buvinr for European account was the prominent
feature Of the stock market to-day. II was 80 en-
crgetc that no strenuous efforts in favor OF lower
prices we're put forth until it was tccrably GER
tain that London was at dinner The last hour
was distinguished by food Of adverse rumors.
DISPATCHES from the West were fearful that the
wheat crop was ruined. On account Of the falling
of in traffic, which must be an inevitable cOnsc-
quence of the failure Of the crops, the railroad
companies were reported 70 be slashing rates in
murdcrous fashion. The occasional shipper was
able, according to these rumors. 10 make his own
rates and il was only by his favor that the rail
roads were not hauling Eastward empty cans. The
cutting of rates was so serious, indeed, that the
meeting Of the Advisory Board, which has been
going on in this city for two days. n mere
farce. differences drawn quickly from the
absence of the presidents of the Chicago, Burling-
ton and Quincy and the Union Pacific com
panies. The Western Traffic Association, if
the worst were to he believed,
was little more than q dream. It was
in response 70 these arcwsome tales that the
closing made apparently weak. In many
instances the, early gains were fully lost. and, in
fact the final variations were generally declines.
1t is worthy Of notice, however, that almost
losses were suffered by stocks which do not
have an international market Chicago
Burlington and Quincy lost 3-s, and Rock Island
"a per cent, but st. Paul. which is well known
In Europe, closed 3-s per cent higher. Lacka
wanna lost ga per cent. but Reading closed only
q shade lower Missouri Pacific and Atchison
ended at their lowest figures. but the which
enjoys broad market lost only Is per cent
Louisville and Nashville, a favorite OF London
speculators, gained per cent, although its last
price was a small fraction below Its highest
point Other stocks which recorded final gains
we're Erie Lake Shore, Union Pacific, Northern
Pacific preferred and New-fork, Ontario and
Western.
The course of prices indicated a lack Of sympathy
between the two great speculative markets.
revival of confidence in London, marked by a
by doubt and hesitation in Ncy-York That the
late weakness was for effect on the foreign
market tomorrow and the plain result OF
beaTish operations were facts too patent 10 De
remarked The weakness Of foreign exchange ard
the impOssibity OF shipping gold at the current
rates must be considered proof that the latest
attempt of the bear faction to protect its
tracts will DC futile!
The Governing Committee Of the Stock En-
change at it's regular meeting, admitted TO deal
ings the following securities:
Ncw-Y0rk, Ncw-Haven and Hartford Railroad
additional $4,000 shares of capital stock TO be
exchanged for the stock Of the Ncw-lork Provi-
dence and Boston Railroad. When the new issuc
has been completed the capital stock of the
company will be $2S,375,0CO.
Third National Bank-the capital stock Of
100000
THE DAY IN THE BOND MARKET.
Government bonds were neglected. and in the
morning bids reduced. The currency SIS
suffered n further loss Of l-4al-2 per cent. The
closing quotations were as follows: