New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-04
Boston. jar. 8. 1898.
WHAT WAS DONE IN STOCKS.
Tuesday, Jan. Up. !

Business at the Stock Exchange was resumed
without material change in either sentiment or
conditions Dt Of hOpefulness seemed 10 b
left over from last week, and the opening was
strong at fractional. advances. With few cx.
ccptions, and these uuimportant ones, first prices
were generally the best for the day. Further
advances were made by industrial and special
stocks, and for an hour about noon the ticker
did little beyond recording advances in Sugar
Refining. Throughout the day Manhattan Rail-
way 1uctuated frequently and widely. Its course
seemed to be upward, and small sales were made
at IS after 1873 81, but at l5j Ia il closed with
an actual loss of Ia per cent. Ii was anccted
by rumOrs and conjectures about tile action OF
the Rapid Transit Commission, but the whole
movement was undoubtedly speculative. Inc
rise in Sugar Retiring had little better founda.
ton, but it was sustained with greater courage
and. although the stock yielded nearly per cent
in the final dealings it still scored a gain OF
per cent. Other industrial stocks derived some
advantage from its exceptional strength.
Tie advance in speciaties failed to lnfuse
snIrit or confidence into the general market. They
may have been highly interesting, but they were
Intellectual in preventing otherwise universal
decline The predominant influence was the eN-
tieme weakness OF Philadelphia and Keadins.
which steadily fell II per cent from us Vrh,
inc price and in spite of slight ragy, cloecd
with an absolute loss Of IA per cent. In tle
last hour especially the stock was pressed lo1
sale with great vgor Broker. usnalny Io1lnrs
fled with the bear faction were the ireest sellers,
but from that circumstance IL does not 1ols,,w
inevitably that TIE selling was chiefly ior de
hort account The recent action OF the behign
and Wilkesbarre Coal Company was interpreted
az an indication of the early disruption Oh tne
famous Reading deal whieh Is not bS e, vas
old The primary object OF that cohipihatioh was
aid at the time TO be - secure more ecohohlc
mana cement in the coal trade ny aVohing eApen,
sivc selling agencies and heavy COMMISSIONS ~
that while coal will not cost any more 10 thc
consumers. the coal producer and carrier can Ses
better results" That purpose las been dis.
appointed at every point, and last week u,g
necessities make a new arrangement ior .,.e
marketing of its coal. II ought not TO he sur
pricing that the I-high and Wilkesbarre COM
paSy refused TO share in an Agreement Tor an
extensive selling agency The decline 10
Reading stock WAS helped. moreover by fnie!
appreciation of the Ie-cstablshment OF lolnt
rates with the Pennsylvania Railroad. ne
policy of the last-nallcd company has not rfen
changed and that of the Reading Railroad mas
had TO bend 10 il. In addition TO me weak s.a'
of rhe stock the income bonds yic.ded WI" na .
readiness TINT was suggestive, at least. oil con.
tinued uncertainty in respect TO the payment Oh
full interest on All classes, . -, -.
The general market was influenced IN the iasu
hour by the decline in Reading, out sounu rnaI
way stocks offered obstinate re>istance flhdi
Losses in the Granger shares and LouisVlils am
Nashville were small fractions aud not Larger
in the sd-callcd Gould STOCKS. Inc ciosinS' i""'
ever was distinctly heavy.
THE DAY IN TIE BOND MARKET
Tho transaction in Government bonds at thee
Stock Exclanc. were Of no consequence Siia,'
coupon IS sold at ll3 IL, ana one bono az ~ =;
cN-intcrcst There was virtually no chsn,e :.
quotations which, at the close, were as follows;
Puo'"''"' " -. 3D. sxs1
us4,sslsai rs cur eur G G.. s.s 1872 Io $50
III ST, 1873 s
D,s Col.3.Go. 1894 1884
STATE issues were wholly neglected. The bua.
ness in city bank stocks inclnded Nassau ,oy ~
TO, Ninth tI0"' at 40 and Western Na'io"''
900 at ia and ll5. o.;v.
The general bond market was moderately actp ss
at irregular prices. Chicago and Northern ra
ciiic tlrts gained IL per cent az - %. az"
Northern Pacific consoi - were irn, al "; issues
unchanged at 60 A number 81 speciai is TsIs
made substantial advances. tnicaao ana nn
incornes rose . "a per cent to AZ a. Ih, ps
Pacific Is, collateral trust rates; cioseu IA
Gulf frsts "a per cent higher at 60 ihe w eatt
rr.s of Reading incomes however. was the proma prom.
nrnt feature of the trading. On small sizes m,
fell Sd per cent TO ~ sccoSaI io' nr .' cent az
hail. The deferred incomes declihr, 70 go;
or these issues the closing was weak u, 'ne io".
points Reference is made TO our 'ui' iei''''
bond sales. 800. l;,th
Money on call ruled at per cent: ,i, .,,c
business was done at per cent. and toward '"s
clos, the rate fell to per cent. t,,,o,,,,
The Clearing llclse statement WIS a. Or I:, os7'
Exchanges. 1925, 40?,330; balances, S''.tts,n:
The Snb-Trrasury was debtor 10 the Sie a;na
IJouse Sa5a,5Oj lis net gain on balance si,,co
Fridav-Mond,y being holiday WIS % ,,',nn.
a loss of Sas3,o43 in currency. The two uasr
oneraticns inclrded: Receipts, Ss,.s' ,0yV ply
mcnts, Sj,srs, 400; resulting IN gencrni "aan'e