New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-29

RoUT OF THE BOND SCHEMERS.


| At the regular noon opening of bond offerings
at the Treasury Department at Washington to-day
tbera were found offers of only SS61, 900 per
cents at l2s and 81 900 at 1@S and interest,
and "a. 800 Alps at 1O6 rs But before the an
nouncement of acceptances was made, at %:5o
o'clock the telegraphic offers poured in so that
the days purchases amount TO S3,S21 100 per
cents at 1928 and S65SOO IL per cents at
LOG rs: total S3.SsS. 900, making the total pur-
chases within week up TO nearly $4,000 OOO.
Probably the late offers to-day, like those OF
Yesterday, came from that myth of a syndicate
The CALLED Jade of ignorance still wlnccs under
the liberal offerings Of bonds; while on one side
il asks for information concerning this bond
syndicate in another column it asserts that the
recent heavy Government purchases are the result
of a deal between the Secretary ana the syndl-
cate" thus striving TO convey the impression that
the Secretary of the Treasury had In some way
departed from his settled policy. This Admins
traton has never re fused to accept all per cent
bonds offered at 1928, and during the last week
if has only accepted such per cents as have
been offered at that price Gentlemen OF Inc
NewYorlz Times" you are whipped; you have
succeeded neither in creating stock panic Ior
one class Of YOUR clients through "a scare about
money nor in compelling the Treas
ury 10 advance its price for pohdS
IN the interest of tie bond syndicate, Your con
oition is deploraDle Neither :" bulls III Tow
ernments nor bears in stocks any more love
YOU The quicker you accept the situation, anu anu
the less said by way OF excuse or eApidhdtiOii .uc
sooner will an indulgcn public forget your efforts
IN destroy n PROSPEROUS autumn'S business. We
are Wiling TO believe, with the puDilc' thdJ ~
nnrance made you more sinned against than "a
wilful sinner
WHAT WAS DONE IN STOCKS.
han
active in the early hours and generally mao
material additional adj anccs The character o.
the buying was of the best class, whiIe the pears
stood aside and waited for an opportunity 10 fhu
values That opportunity occurred in "a narrow
market. after noon time, when the huylnS haI'eu.
Then, with a cry that the Bank OF England rate
Tomorrow will be advanced l per cent TO per
cent-it probably will be-the rad began, ana
bv two hours of steady and hard work prces
were marked off an average Of 1-2 per cent from
the best prices of tic morning. There were eA-
ccptions however, to the rule. Tine Northern
Pacfcs and Oregon and Iranscontinental con-
TIMED to advance despite the raid on the general
market The Northern Pacifics are being pur-
chased for the annual electlon-the books
will close September l6-and TO Sc
cure vote OF the preferred stock
i'm favor of the refunding 81 100000 mortgage
scheme The hears profess TO he confident OF
their position. They still talk u9ht money, In
spite of Government bond purchases, and assert
that SO much money has been Withdrawn from le-
Ultimate business TO foster speGGIaucn that oIue
ruin stares u.s. in the face " hat is there that
desperate men cannot invent ! fOStcIHlG SIeCuit-
lion. when there are few brokers in the stock
market, the cotton market and in the grain mar
kets who during the last twelve months have not
learned the difficulty Of making both ends meet
Never in twenty years has speculation generally
been so dead during the last year. Inc great
bear news agency continues 10 make up the
Reading accounts in advance and TO show deficit
Nevertheless. the Reading Company will earn in
lis current year full interest on ITS second pre-
fcrred income > per cents The " bears may talk
as much as they please, they may watch Op-
,,,,iff oc raid WI 10
own expense. Stocks are not in The, Street
carried on margins, and the commercial, mcr-
camille and agricultural interests of the country
daily imp:ovt. and sooner or later this improve
ment will be reflected in gIeit BALI speculation
in stocks The market closed dull and strong at
figures.
sales of Arkansas Is funded at . and North
Carolina special tax receipts, at Il or city
1873 1.2. East River go at a. Fourth National
81 ut lG7, St. Nicholas 500 at 20 and Western
National 90 at 81 l-2a07.
THE DAY IN THE BOND MARKET
] ~I.o fan IL