New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-18
CLOSING PRICES OF BOSTON STOCKS.
Boston. Oct H. 1888.
ACCOUNTING FOR SEVERAL CHANGES.

wednesday, Ocr lip m.
Last Monday, in reviewing the last weeks
changes in Treasury balances, We remarked that
they did not reflect the payments for the large
bond purchases of that week. Only yesterday
did the Washington statement begin to reflect the
loss of money which was paid out by the Sub
Treasures Thursday, Friday and Saturday of last
week for purchased bonds. Today's Washington
statement probably about clears up the payments
Of last week. leaving those made for this week
yet to be entered up. To-day's statement shows
the cash balances to have been reduced from
those Of Mondays statement as follows: Gold,
$lO,l00,000; silver S2,300,000, and legalten-
ders, $500. 900: total reduction, Sl2, 100000.
Besides this, the deposits in National banks was
reduced S2,S00,000, representing principally
Treasury checks drawn on the banks to pay
them for the bonds sold to the Treasury which
already were held TO secure Treasury deposits.
These checks, to the extent of 100 for the IL
and 1 10 for the 1-2s, liquidated the Government
deposits without disturbing the bank cash. For
the balance Of the purchase money cash was paid
from the Treasury vaults and is part Of its
81 2, 700, 900 loss These large reductions in the
Treasury balances are worthy the attention Of
those who week ago had offers Of $40 900, 900
As at 12s rejected And it may be well for them
to remember that future purchases Of 100000
bonds per day will prevent any accumulation Of
either cash or surplus, beyond that now exist
ing and that under existing conditions there 10
no hope of working the money market so as to
brighten the Secretary to come to the relief Of
the commercial community There are still out
standing nearly $500, OO0, 900 4 1-2s which ma
ture in 1891. AS the option 10 the holder Of
them to accept premium par is short, 10
is probable that the supply Of them TO the Treas
ury will be more than enough to meet all com
mercial wants.
The days stock speculation was Irregular
While the stocks Of the Union Pacifc system
were noticeably strong those Of the Gould system
were exceptionally weak. The remainder Of tho
list was neither one thing nor the other. All
there is to the market is this Every "bull'
speculator at the board and every broker in the
election there can be no important movements
Brokers freely express this opinion to their Gus
toners The natural result is supreme dulness.
OF this dulness the BEARS daily growing moro
decline and induce sales that they may cover
There is not bear who wants to stay short
over November g. even Of Sutro, that intends to
do SO. The other day it was ST Paul that they sold
down--it proved an Improbable operation. To-
day IL was the Gould stocks, in connection with
additional false reports concerning the financial
situation at Boston, and the leaders Of the Soda
coterie again were jublant over a fuctuation.
Money in Boston was in good supply at 3 per
cent-an unusually low rate for the Hub. IL
may happen that between now and November
g. instead OF dulness there may be unusual ac-
tiv1ty; II so, 1t will be made by bear scramble
TO get under cover. The completion Of the lease
Of the East Tennessee; Virginia and Georgia to
the stocks Of the last nsmed company.
THE DAY IN THE BOND MARKET.
The Treasury purchased only s264, 900 1-2s 40
10S 1-2, rejecting offers OF about $780, 900 Is a.
127al3 3d. In the local market the apparent bus-
ness was small and bids for the As were adyS need
3-s per cent Annexed are the closing quotations: