New-York tribune., 1888-08-29

There were no transactions in State bonds, and
Of city bank stocks Manhattan sold l20l at 60.
The general railway bond market ruled firm
with small transactions; a correspondent, l..
L. G.,' asks why the Philadel;hla and Reading
general As do not advancs in their market valus
pgOpOrtionatciy with the advances made for tho
income IS. The reason is apparent The As are
now selling on basis OF over per cent annum
on their market value. As the impression grows
that the per cent interest on
price rises The earnings of the company
are such that there is no room to doubt that
on FEBRUARY |, 1889. IL per cent-one and
one-halI years interest-will be paid on the first
preferences and they are such as to warrant this
belief that at the time interest will be paid
on the second and third preferences. When the
As were issued TO the syndicate 1T 81 i-2, wo
would sell higher IN the market than the general
Is before interest WAS paid on either 1t has
taken some two or three months for the public
to begin to appreciate that the first preference
IS lacked only 81 200, 900 in the company's earn-
inss of being safe an investment as the IS. and
with per cent higher rate OF interest. or course
the values Of the second aud third prefer
enccs are less certain. but they have
advanced on the not unwarran;ed faith that the
interest on them is also assured, To-day the gem
cral 4s and first 5s were only steady at previous
quotations, while the second preferences rose from
"a l-2 10 70 5-S, and the thirds from 63 i TO "a.
Erie second Is were dull at % IA Toledo. Ann
Arb0r and North Michigan rSts were active up 10
1902. Atlantic and Pacific incomes were active Mt
"A ID up to % IA. Missouri, Kansas and Texas
general Us were steady ut 81 Ia, and the 5s at
G2a62 l-2 Reference is made to our full report Of
bond sales
OF unlisted securities dealt in at the Stock Ex-
change, Cotton Seed Oil certificates sold 500 at
81 -.a37 5-e Chica 90 Gss % o. at S3 l4a33, New
ork Mutual Tel, graph N5l ut %, Western Union
Telegraph IS tSl6, 1000 at b3 3-l, Chicago and
Atlantis Beneficiary u00l at Sl-2, Mexican Ma
tional Construction (2O0) at 81 l-4a32 l-2, Mount
Desert Land l4C0l at s. IL l-2, and Brunswick
Company 5000 at l2al2 is.
Only sga amounts OF money loaned to-day
at , per cent the business wns more generally at
l-2 per cent than II has been for more than q
per cent.
The Clearing House statement to-day was as
follows: Exchanges. s92,l l9i, 3G6; balances.
si,l 66,os0.
The Sub-Trcasury today was debtor at the
Clearing House S3i5.470 It's net gain on balance
Was s203. $40. made up by gains Of $34,07l cur.
rcncy and S25s, 800 coin. 1h- days operations
covered Receipts sl,9to,5l9; payments,
Sl,i4Il7.; resulting IN general balance OF
S2Ol A2i 249, consisting of 81 l.J90.242 coin and
S20,H34. .0"7 currency
REPORTS FROM WASHINGTON.
The United States Treasurer az Washington re-
ceved to-day 81 70. 900 National bank notes for
rcden ption.
The customs receipts were s60i s07 and the
internal revenue receipts were S204,S ,S73.
TO-dnys Washington Treasury statement Of
cash on hand and deposits in bank compares with
the figures Of the last previous statement as fol-
lows
Net gold nd sol 400 s2oe t4s Inc ST. 600 o4a
Net sily,r on h'd 90 oi0s2So 6oi24.7oo Dec. 4st7o
on hsnd.,.. Ii,oeoo77 als4i77s Inc c.e ioi
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