New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-20
CLOSING PRICES OF BOSTON STOCKS.
Roston Ian 10 1892.
WHAT WAS DONE IN STOCKS.

Tuesday January l0-p. m.
TIE controlling influences in the recent reaction
in The stock market were plainly revealed to-day
Fictitious statements that war with Chln was
imminent were a cloud for the speculative Jove
whose evident design was lower level OF prices
The threatened disruption of the western Iraihc
Association had lost its force because II had no
substantial basis. Besides, the speculative motives
beneath it, were exposed 10 the rude gaze Of
criticism At the Windsor Hotel meeting last
week representative of the Missouri Pacific Kali
way gave notice of the company's Withdrawal
from the association. Ii was not a valid notice
and both he aud the president of the company
under whose orders he undoubtedly acted, must
have been aware of the fact. The directors
Of the Missouri Pacific met Monday
and. recognizing the Importance of a strict main
tenance of rates, requested a special meeting ol
the Advisory Board This was q request which
the chairman Of the association may grant AT ms
discretion. In the CIRCUMSTANCES IL Will PROBABLY
br last 40 well if he permits the question I" take
It's regular course inerc were present al The
Missouri Pacific meeting the presidents OF three
railroad companies when are members of the aSSo-
ciation In maintaining rates II Is lEce iiblc that
Russell Sage and Sidney Dillon should be less
Jealous than Mr.. Gould. If d meeting OF The Nd
visory Board had been really desired the request
mi.hI have been omitted and the signatures Of
these three presidents could have compelled IL.
The action OF the Missouri Paciiic in this matter
has been disingenuOuS. and because ignorance Is
inlpossible. il must be concluded that the pre-
dominant interests i'll the company had a specn-
latlVc object
The sharp decline in prices which occurred to-
day must have been highly satisfactory. Few
active stocks lost less than per cent, and many
more closed nearly per cent lower, III spite
of a final rally. St. Paul first in point of
activity. and il rallied suggishy; its final loss was
lust under g per cent. Rock Island suffered "A 1t
lie larger decline, but the other Granger shares
were supported more effectively. The stocks
-. alrnu1 In
means the weakest, while the anthracite coal
stocks were duh and comparatively firm, although
no Arrangement in regard 10 prices or the division
Of business in the present wear have yet been com
plced. The Northern Pacific securities which have
recently been sold heavily on European account.
seemed TO be i'll moderate demand. Among the
industrial stocks, Cotton Oil was weak and sugar
Refining nearly steady, while Dsliling and Cattle
feeding alone was active This stock fell nearly
3 per cent. but III the late dealings recovered.
under what considered good buying, Il part
Of It's loss. There reasons for thinking that rn
mOTs Of serious opposition which have recently cone
ont of the West. will not Immediately bc repeated
While the course Of prices Indicated general
LIQUIDATION on the part OF timid weak holders
there can be 10 doubt that the operations placed
stocks in stronger hands. The outstanding short
interest may not have been reduced in volume
moreover but very greatly in character. Outside
Of The Stock Exchange, The conditions have not
changed materially, and the decline in prices has
tended to arouse dormant public interest. One
of the most promising features of the trading was
the wide distribution of large business.
THE DAY IN THE BOND MARKET
small sale of registered As at ll61-2 was
followed by reduction of IA per cent in both
classes Of this issue, but otherwise the Govern.
.i~at 81.