New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-17
CLOSING PRICES OF BOSTON STOCKS.
WHAT WAS DONE IN STOCKS.

Thursday, June l6-p. m.
The reaction in the stock market, for which
the bear faction has worked and pcrhaps prayed
for several days was accomplished to-day. In
view Of the rapid advance in the last week
cessions natural and proper. II is 10 be
hoped that they have been accepted with a right
spirit, bnt it may he suspected that the short
interest was increased rather than diminished by
the days operations The prctcy, for the carly
weakness was apparent selling for European
count. The London market was Hat, and genuine
selling orders in st. Paul and Louisville and
Nashville were received In the first caSc they
were induced by the wish 10 realize handsome
profits and in thc other by renewed rumors that
the next dividend would he reduced or paid only
In scrip. II one might venture 70 guess about
movements which naturally are coudcl by secrecy,
it would he toerably safe to assert that In the
case of Louisville and Nashville, al least, the
foreign purchases exceeded the foreign sales. EN-
ccp,ing TIE maloeuyre- In TINS stock ana Ihe
realizing sales in ~. Paul, the foreign selling was
chiefly on orders from Ncw-iork IL was at
tended, Of course, with rumors OF heavy exports
Of gold by Saturday steamers but AZ the close
of business only small part Of tho Si,0G0,0OO
predicted HAD been actually engaged.
If every sale for European account was genuine,
however, it would not be difficult 70 find a
reason for the lack Of conid nee. In
England there scems to he a general fright about
the silver question, and the discussions III con-
gIess are carefully transmitted with eyi lent
purpose of further exciting distrust. Political
motives are now unimportant factor. The
movement of prices was sufficiently uniform. IT
Paul closed | Is per cent lower. bat the other
active Granger shares which not dealt IN
abroad LOST from l to | l.? per cent. Louis
VILE AMI Nashville, in spite Of small rally, fell
! 3-8 per cent, but Missouri Pacific suffered the
same loss The final variations were declines Of
about | per cent on an average.
The downward movement was helped I'M
doubtedly by the fall Of nearly per cent in
Disabling and Cattle Feeding stock. The an
nOunccment that the dividend had been again
cut in two the greater surprise, because up
TO the close of business yesterday the impression
that the regular dividend would be declared was
spdulOusly cultivated. For the reduction no cX-
cuse was attempted even, and il was admitted
that the earnings in the quarter were considerably
more than per cent the last rate. Someh hing
was said about the necessity of outstanding re-
sources 10 meet the expenses Of litigation, but the
recent decision by Federal court would seem
TO make this action ultra-conscrvatlvc. 1t may
he suspected. indeed, that the decision was a
surprise 10 the speculative directors Of tho com
pany and that they had no Other means of re-
covering their stock than by the lowering of the
dividend. In any case the action of the com
pany in the past year should be an ample warning
10 investors.
TIE DAY IN TIE BOND MARKET.
There were no transactions in Government
bonds at the Stock Exchange, but bids for As
were raised 3-s per cent and for some of tie
currency issues IA per cent. The final quotations
fall