New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-19

The business in State bonds was moderate,
although divided among several issues: 1t IN
cluded North Carolina consol As at %. tennessee
settlement 6s at lOS IL, compromise bonds at
rs, and settlement IS at "A IL and "a "a There
were no sales of city bank stocks.
Railroad bonds continued to advance, and while
the movement was not rapid, It's very steadlness
was full of promise. Cleveland and Canton frstS
further rose l per cent to 90. Fort Worth and
Denver City rallied the fraction to 80 1-2, and
many other issues gained IA 10 IL per cent
The principal declines were in Atlantic and Pacific
irsts which fell l per cent to 10, and Louisville
and Nashville IS, which lost 1-2 per cent. Refer
ence is made to our full report of bond sales.
The money market at this season of the year,
with large crops and generally active business
should naturally work firmcr at higher rates But
the present local money is not free from the
manipulation OF lenders. A financial institution
prominent trust cOmpany-lS engaged III the per-
fectly legitimate purpose OF securing higher rates
for its loans by the employment of questionable
methods. The president Of the institution on the
first day that s., 100000 per cents were offered
TO the Treasury at 1913 and were accepted thus
expressed himself in a railroad car " Ii is an
outrage that the Government should come in and
interfere with the money market just as we had
got rate up TO per cent" Now, the only
interference which The Government makes in the
money market is when it accumulateS from the
public money In excess Of its disbursements. The
restoration OF that accumulation, either by the
purchase Of bonds or in payment Of pensions only
restores the normal conditions. The Secretary Of
the Treasury did not " come into the market :;
his bid for per cents was % for three months,
ana when "a u per cent money Ddfket Drought
the bonds at his price he simply accepted them
If the president of the trust company had
been reader of The Tribune, he would
have known beforehand what the result would
be. And to-day, il he had accepted the market,
he could have loaned all the institutions money NJ
A 1-2 and per cent, instead Of lOaning small
part OF il at per cent. and then carried fully
twOthirds Of the amount desired 10 be loaned.
The fair and legitimate rate for money on call was
4 l-2 and per cent; per cent squeezed out
of "A few borrowers, but at the close the supply was
excessive, so that money loaned at per cent and
was offered at l-2 per cent
The Clearing House statement to-day was as
follows Exchanges. sl15,353,40s; balances
s.. 03,504
The Sub-Treasury today was debtor 70 the
Clearing House S556,767. lis net loss on balance
was S257 1899, made up by currency loss OF
"a 90, 800, less gain Of S20S. 9sl coin.
The days operations covered Receipts.
go s06,S6S payments, S3,0G4 207; resulting in n
general balance Of 81 90 ,544, 2s7 consisting OF
s1s0, 5s2,4s9 coin and 81 1861, 79s currency.
REPORTS FROM WASHINGTON.
The United States Treasurer at Washington
ceived to-day sll 1924 National bank notes for
redemption.
The customs receipts were S758725, the in
ternal revenue receipts s407, 056. and the mscel-
laneous receipts s25,363
Ioday's Washington Treasury statement Of cash