New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-24
CLOSING PRICES OF BOSTON STOCKS.
WHAT WAS DONE IN STOCKS.


The stock market presented no feature except
the skilful manipulation which has controlled re-
cent movements The strength of the London
market yesterday-a National holiday in this coun-
try-was indicative of renewed interest and conf
dcnce in Europe Efforts TO confirm this influence
were unavailing, however, although the opening
and closing dealings were distinguished by arbl-
TRACE purchases for foreign account These were
sufficient to affect rates Of exchange on London,
but the destination Of the gold shipments Is admit
ted to he the Continent, and unhappiy the de-
cline in sterling bills had no effect upon Continental
rates. Exports Of gold to-day amounted TO ST.
600 900, and Of this amount one-half wos shipped
by n firm which denied on Saturday that it had
made any engagement. An anonymous engagement
of another 100000 was withdrawn after 1t had
served its purpose Of counteractng the unexpected
shipment foreign banking house, which "a
prominent shipper Of gold last year, was reported
to entertain the belief that for the present exports
of gold have been concluded. 1t may be possible,
of course that the firm will be able to affect the
natural and reasonable movement By recalling Some
of the shipments it made last spring under n sup
posed arrangement with the Bank of France. The
amount that was returned under the alleged agree
ment was very small, and the present opportunity
ought not TO be neglected.
Irrespective of the movement of gold, the stock
market offered extraordinary advantages TO arbi-
TRACE brokers' The course Of prices was practl.
cally controlled by Them and in consequence OF
the absence Of public demand, at home or abroad,
there would appear to be no reason 10 dispute
their supremacy. The advance in ST. Paul in
the afternoon was on positive information from
London that the directors at their March meet
inQ would declare dividend of 2 l-2 per cent
on the common stock. The dispatch was backed
up by vigorous buying which naturally con- on
cumstances it seemed hardly necessary that the
directors should go TO The trouble Of holding
meeting. The great Reading deal will not be an
obstacle in the way Of this arbitrage control, for
the same motives probably lie behind IT, The
anthracite coal stocks conspicuous by their
activity and strength. Lackawanna rose over
per cent, and, after many fluctuations, retained
gain Of 3 IA per cent. New-Jersey Central closed
at about its top price with a gain OF l l-2 per
exchange Of compliments between the two COM
panies which was accepted popularity as absolute
proof of the success and permanency OF the com
6ination between the coal companies. Reading
was more active but after an abrupt decline of
over / per cent it was able only TO recover its
early loss. The company ought TO derive the
greatest benefit from the harmony between the
Lackawanna and the Jersey Central companies
the Others are held so closely that the price is
largely a speculative matter. The interchange Of
directors by the two companies does not neccs-
sarily add TO tile earning capacity OF the Read
ING Railroad while IL certainly does not remove
the recent combination from legislative investiga-
ton or legal opposition.
While the stock market was dull and the move
ments OF prices were chiefly professional the final
variations were generally advances, ana the CLOS
ing strong.
THE DAY IN THE BOND MARKET.
There were no transactions in Government
bonds at the Stock Exchange. and bids for the
40 were further lowered The market was steady
at these closing quotations;