New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-22

WHAT WAS DONE IN STOCKS.

Tuesday, June PIP m.
Without any material increase in activity the
stock market hardened steadily through the day.
All trace of yesterdays hesitation disappeared
under q renewal of aggressive buying. Inc IN
terludc of the last few days in the upward
movement served simply to emphasize the con-
fdenc. of holders and the resumption Oh pur-
chaecs was the logic Of market which refused
10 he demorazed by last weeks heavy goa
exports or only TO yield on dulncss. CONCESSIONS
in values which were not worth the waiting
for BY bull operators who "playcd' for re-
action. To-days advance was not 10 the taste
Of the bear faction, which endeavored 70 oo-
struct it by familiar tactics. Union PaciIc
was selected as a promising stock TO serve as
disturber and strenuous efforts put It's price
down early to SO 81. 1t closed shade higher
at 30 5-o Richmond Terminal was iawiui
prey for the bears in view oil lte unfortunate
sifuafion. but after sales down 10 l-e. Uic
nricc IA lied 10 the opening hgure-f. KuEiols
Of a recevcrshp for the company were current,
but il is proicssed by some OF us lriends NAV
no sufficient ground can he found Tor asking lor
il The protection OF IL friendly court would Dv
no means he a misfortune for sccurity-l:oldcrs
in view of the troubles heapcd upon ioriirf
constituent part Of the system by Interests when
seem TO he utilizing the rhorsishted ana foolish
policy now popular in Georgia. of hostility 10
railroad capital. In any case the surgeons table
seems needed for Richmond Terminals preser-
The feature Of the market. however. was the
| persistent rise in the Granger stocks on buying
| ty prominent Chicago houses Crop reports were
| a sufficient Justification Pending the Govern
| ment report Of crop Prospects on June the benr
| faction had unreasonably depressed prices. The
reports of damage by the floods were grossly ex-
aacerateI and the true state OF the Western agri
! cultural regions was carefully concealed WHAT
| followed in the market from q revelation OF the
facts was merely reaction from unnatural sIeci-
latiye conditions That reaction seemingly leaves
| the short interest too large To undertake with
| prudence fresh contracts III hope Of eX'ricatlng
| itself from its difficulties, and 100 large 70 al,
| tempt "A liquidation in the face Of continued
progress in The crops. Unexpected developments
are hoped for 10 bring relief. AS for speculation
itself. the process of approaching the significance
of natural conditions has not yet lrgiln
| minor favorable influence to-day was weaker
tendency in foreign exchange, which may limit
tie later shipments of gold that are still cN-
pected Cnc fact which the Street has lost sight
Of is the advance in grain rates which went
into effect yesterday east OF Chicago. An en-
couraging trading argument was also drawn from
the political outlook at Chicago.
In Point Of activity 81. Paul led the lat bnt
It's net advance Ices than that i'll other proper
ties which now blrely earn their dividends. 81
Paul earning 7 per cent, but paving nothing, Is
temporarily less attractive than Chicago Burlng-
| ton and Quincy, paying per cept but earning
little more. Investment considerations. however,
nsnally reach speculation in the end All OF the
| Granger shares recorded ret advances between
| and per cent Before the day was over the
general list shared in the Improvement OF the
leaders The market closed confident at higher
''''>T THE DAY IN THE BOND MARKET.
Small sales of Government coupon As were made
| at Am ADVANCE of IA per cent over the bid
price. The market was Lrm at the following
| quotations.