New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-27
WHAT WAS DONE IN STOCKS.

Thursday, May 26-p m.
Speculation in stocks was largely professional
and local to-day In fact the trading was not
much more than the execution Of matched orders
The fluctuations in Reading, which was the most
active stock, was within range Of less than |
per cent and it's last and lowest price showed
final decline Of IA per cent. The other an
thracite coal stocks were strong on the improve
ment in the trade which permitted further
advance in the prices Of coal 1t would require
a careful examination of the accounts of leading
SPECTATORS to justify the belief that the large
transactions in Reading were genuine. Another
instance of the kind furnished by
Rock Island which moved in a most cratic way
Its final loss was 5-s per cent, and apparently
it's decline was not resisted. For the superficial
of the company. or the crop prospects. The
annual report will show a substantial surplus
after the payment of dividends. while the weather
reports from the West were uniformly favorable
to the growing crops The damage by the recent
rains seems TO have existed only in the magma
ton OF spectators in stocks or grain, and per-
haps the Hoods merely applied d Top dressing
TO the lowands in the Mississippi and Missouri
river valleys. The harvests are not likely 10
he affected seriously by what the leaders Of the
bear faction pleased to call a disastrous
calamity. The frequent fluctuations in Rock
Island resulted from idle attempts to protect
short contracts. by speculative means. which
arc recognized by the Stock Exchange. the
buy, quickly proved that no long
stock had been dislodged. The two illustrations
Afforded by Reading and Rock Island sufficiently
expose the character of the trading. The real
owners of railway securities were unwilling 10
part with them, and the short interest anxious
only to reduce the volume Of it's obligations. IL
has been often asserted in the last few months
that there was no buying power In the market and
it must be admitted that the bear faction alone
has shown aggresslvcness The constant absorption
by investors is an influence which will be fully
felt in time. The bond market has felt it, and
stocks of the highest class are gradually yielding
to it, Recent purchases of Lake Shore. for in
stance, have been made by banking Institution
which dcsparcd Of obtaining profitable use Tor
its money. The certificates for about !. 900 shares.
which are about to be placed in it's name, will
not the light again until there is much more
active demand for money The European buying
which is conducted on about the same lines, attract
little attention, but in the last few weeks it. has
been confident and at times extensive Ii has
been sufficient, AT least, to check the seasonabc
outward flow Of gold.
Special movements which are worthy of notice
were the advance in Western Union Telegraph
and in Richmond Terminal stocks and bonds.
These were strong on the mere announcement that
DrcXcl. Morgan d Co had been invited TO under
take the reorganization Of the company The ac-
ceptance Of this invitation will I've defeat Of
the interests which have long been identified
with the , Richmond IcrmInal or constituent com
been designed 10 convince the world that the
Gould interests were not opposed to n general
advance in prices. The closing appeared to be
weak on renewed selling for the short account on
the pretext of the action Of the Senate on the
free coinage Of silver. TO give force TO the sell
ing, brokers with English connections were en-
ployed 1t would be worth a good deal to the
bear faction to create popular impression that
Europe had resumed selling of American securities
THE DAY IN THE BOND MARKET.
A sale Of 81 1000 registered As at III I-2, an
advance Of Is per cent, was made at the Stock
Exchange. There was, however no change in
quotations. which at the close were as follows: