New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-18

OPPOSITE INFLUENCES AT WORK
Tr,aodo- Anil ~


The stock market was subject to opposite In
huences to-day, but while the movement Of prices
was at times slightly irregular and perhaps I'M
certain, 1t resulted In substantial advances. At
the opening there was on one side the action of
Congress about the purchase Of bonds with surplus
funds In the Treasury, and, the other, the weak
ness Of the foreign markets in consequence Of the
dangerous illness of the German Emperor and, IN
smaller degree, Of the unknown possibilities in
the Boulanger movement in France. 1t may be,
however, that the accession Of youthful warrior
to the German throne would act as O counter
rritant both to the illusory hopes Of France and
the territorial ambitions of Russia. 1t is by no
means certain that the peace Of Europe would
be endangered by the death of the Emperor
Frederick. While the effects Of the action of
Congress were less doubtful, there remained still
the important question whether the Treasury
Secretary would wisely well promptly
the power placed in his hands 1t must be re-
membered that the doubt about his authority
under the Act of 1881 was raised by himself, and
in these circumstances his course is not entirely
plain. AS matter of politics, however, II for
no other reason the Government Is not likely to
help monetary strngency before the November cleo
tons The business community simply asked for
protection against the inevitable results of con-
inaed Irsasqry accnmuiSoion and It Ia probable
that the excess Of Treasury receipts will be re-
turned TO circulation within reasonable time,
while the dangers from the large deposits in pub
lie funds with National banks have been entirely
removed.
The prominent feature Of the trading to-day
WIS its evident naturalness. There was no ex-
element, although the volume of business was
larger than usual lately, and while the movements
were not uniform. there was complete absence
Of the violent variations which usually Indicate
anxious fear on one side or manipulation or the
other Prices advanced steadily In response to
the increased confidence generally felt everywhere
and as rule the closing was only small traction
below the highest points. Lackawanna gained
nearly per cent although it closed l.2 below Its
best hgurr, and stocks which advanced per cent
ended generally with concessions Of a small frac-
ton St Paul resumed the leadership and Rich
mond and West Point Terminal took second place,
while Lackawanna and Reading were close be-
hind The average advances at the close were
I-2 to "a per cent. The only exceptions to the
general rule were the stocks that made the largest
gains ycsterday-NewE England and Richmond
Terminal which lost IA and 10 per cent re-
spectively There was no explanation OF the ap-
parent weakness, and in the case OF New England,
at least the reaction from the rapid rise yester-
day was nothing more than might have peen eh-
pected
WHAT WAS DONE IN BONDS.
An unusually large business was done In Gov
ernment bonds at advancing prices. The removal or
uncertainty from the minds Of the present Al
ministration in regard TO the meaning OF the
Act of Congress of 88l was regarded as an en-
couraging sign of intelligent action In inc lutule
The closing quotations, which show, advances
Of 9-e and l-2 per cent, were rs follows: