New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-28
WI ocInct PRICES OF PHILADELPHIA STOChS
Is THE SYNDICATE ON THE RUNP

TUESDAY. Aug. ZIP. III
The curtajn is about 10 drop upon the roaring
farce of the nineteenth century. Ignorance anu
speculative cupidity for weeks have combined III
attempts TO create scare or dlstruso III inc
monetary situation. Facts have been ign red that
we,I-spun theories might be influential Inc
leoitmate business of the country has been
ieonardized that bears in stocks and pulls
in Government bonds might reap profits on their
Wild onerations. The monthly coinage of
60 GOO 600 new money, the better distribution
than over before of the money in the country, and
tho actual condition of the Government bond
market and the high prices at which they ruled
have all been SET aside in the arguments put forth
70 accomplish unholy purposes. The New-lorK
Times which among the daily newspapers has
been n leader in the scheme, to-day calls on Inc
Tribune for information and practically admits
that its own staff does not possess the ABILITY 70
get at the facts pure and unalloyed sympathy
for our distressed neghbor leads us TO go so far
rs 10 give il a clew 70 work upon. Leu IL nhu
out who OH a certain day in October, 1883, offered
to Secretary Farchld sl5,000,0OO OF per cent
bonds, which the Secretary refused to accept;
let it then find out what disposition was made OF
these bonds and what the amount OF accumula-
ton has been since With these facts obtained,
the rest will come easy even to The lines.
This column has steadily maintained during the
whole period that labor was being expended to
create distrust and check business that the sltna-
ton of the Treasury, the condition OF the Govern
meut bond market and the high prices when the
treasury was willing TO pay for them, crclted an
automatic financial machine That forbade INC
creation of monetary strlngency uurlns DlILs
autumn We'll, the call loan rate Tor IN ney was
forced up to per cent in the middle OF lasI
week Since then the Treasury has purchl'eu
nearly 100000 of bonds at its own hsures;
Todav's purchases amounted 70 SJ,39J,OOO
per cents at 12s. The offerings at the regnlar
noon opening amounted only t. Sl,46j,0O Inc
balance Of the amount accepted-S3, 93O, 900 WIS
offered later, probably by tee sr9Ph Us Is
it would better b., because VIC believe that
at l27 or 1876 the Treasury can obtain all the
bonds it has surplus to Pay for
THE DAY IN THE STOCK MARkE1.
To-day'S stock market only partially reflected
The changed condition Of monetary aiialrs-lh Iact
il was not TIL near o'clock that il wds known
that so large an amount Of bonds mad been Oh
1ered to and accepted by the Treasury. But the
market ruled strong from the opening To- the
close and made moderate advances all through the
list The business was unusually wei distributed.
There bear" panic TO contribute 10 the
higher prices, only steady and conservative
buying. The bears" predict, with that kind OF
courage obtained in graveyard from whistle.
that the advance will be Of short duration. but
that was early in the day, after being conf
dentially informed that the Treasury had Oh
tanned all the bonds it wanted at the prices.
The railroad earnings for the third week in August
continue to make remarkably favorable show
ings, and New-York. Lake Erie and Western
comes with gross and net for July the largest for
that month in its history. The market CLOSED
moderately active and strong
WHAT WAS DONE IN BONDS.
A $1,000 bond of each of the and l-2 per
cent classes was sold at the Exchange at the bid
reduced Ii per cent. The nominal quotations
were as follows: