New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-09-17

The local money market at the STOCK EAc nan se
EMPLOYMENT. None of the theories which
hsvo been advanced explain Why III
the middle of Septem Der call loans rule at per
cent Ii is true that the Treasury has redeemed
over 81 900. 900 of bonds of the lZlst can put
II was redeemIug bonds at this time iast year when
money was sal 0 percent and the Treasury palance
now is greater than il was year ago. some money
that usually has been invested III mercantile paper
is now at the command OF borrowers az tmo
extent as materially to affect rates. AS all other
theories fail is this not a reasonable qucIy' hoes
not the plethora reflect stagnatiohI Ihe PAM p ~
England on Thursday reduced ITS r%te OF discount
10 per cent to 80 per cent, which was reteceu mere
by reduction In the rates Tor slGnt sterhg; 0tneI
wise The foreign exchanges were lfin a. housn ef
tremely dull all The week through Inc dOhes'lc
exchanges are generally against TINS CITY, although
the movement of money last week 10 the interior
was comparatively light lhe rates on new iot n
at the places named arc as follows: SaVanhaH .
al ls discount. Charleston % discount 10 par, Nv
Orleans par for commercial a1l 81 preuiuIn loi
bank. 81. LOUIS par, Chicago oo cents uISc"""'
Boston % cents discount. 49, -
Last week was a dull one Mt the Stock Exchange
The business in shares rs reflected by l,O+9oVz
shares against 2515. 442 shares for the preceding
week Yet of fluctuations there were enough 70
have made the speculation interesting IL IL had
been general. The week opened with strong up
ward movement IN prices, when was III lnal hcu
contrast with the weakness that characterized tue
closing dealings of the previous saturday, ana
which surprised the average trader because Monday
worse than had been anY previous puDhcatl"h'
Rut as the decline of the week before began before
there was any news of frost 50 the prices
were sharply turned at the moment mat
the character OF that news was worse than
before or since After that the movements were
irregular and sonetrmesl haotic-onc class 81 alocks
advancing while another class was declining nut
all mad the same experience n duo time. Inc
result of the week operations IS general advance
ranging from - to pig and exceptionally for
Housfou and Texas and Memphis and Charleston
each 3 and for MeirOpOitauiE Elevated 80. There.
however are some exceptional declines, prominent
among which are Long Island. ia; Richmond ana
Dauyille and Northwestern pre- erred e2cn; .;
michigan Central, 2ii. Oregon Railroad ana NaFi-
cation go aud Oregon improvement ! per cent.
The situation seems TO be about ~ follows: lie
word has gone forth that S0me of the large opera
tors are gong to advance prices; as yet TINS mas
not induced any general bu' ing, Dht
IT has caused no little covering OF shorts ana
DELAYED sales for the long" account that may
have been pending. Operators as a rule are walt
ing developments; hence the dulness.
In Government bonds there vas "a little more
than usual business Bids Tor the - are on Is. ana
for the IS up H. and for The lbs mp T. The market
for railroad bonds did little more than sympathlZc
with the movements of the snare market.
The following are Saturdays quotations Tor I'M
listed securities: