New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-11

55S '2 s5t sS5ss5o
ro,a,. 4s7e,.s9,77o s774,oll.eoo sos2 800
aiding the premiums paid by the Treasury Tor
the purchased bonds, the foregoing '''.' ''p-'
CENTS disbursements of investments for the year
ondod November !. 1889, Of about Sl25.O0O,O 600,
and for the year ended November l. 1897 oil
hou, q 75 900 900 or in other words. the Treas
urv in the last two years by the purchase oil uoN-
ernment bonds has displaced about 5O1OOo,ooo
Of investment funds that either must be hoardeu
mr. SOCK other securities enterprises Tor return
of interest i,,o ,he
As an appendix TO the foregoing we give inc
net legal cash balances, over and above ou'St'uoi'lo
certificates in general circulation, III the iic"o"'"
vaults on November l, for three years
CASH Is THE TREASURY.
Ne: GS1Ot' ss7f2ssS 'issfs2ss
Net notes Iss'l.'e''a. sOslss2O l7sOs5OO 800 2ea
ro,,,. ,25s sas 2e7 s222 olaOs5 800
The foregoing shows that the Treasury balance
on Voveuber l. 1889, was S36,00O,O0O less Than
on November l. 1858; and that on Novem'e, r,a -
ssS del ass. Now the expansion Of legal money
in me last two years by the operation OF te silver
mcts Of this country in the last two years have
been about $65 900. 900; but the net excess oi
exports SAB, 100000 TO November |, lSoo' ana
81 p 900 600 10 November ], 800. nave proh lor
The two years about SOB. 000.0 900. and the COLI
snnntion in the arts about S3O,000,00O ~
that there has been loss Of, say 800 0oo ooo' goo
IA the currency in the two years hecaPi'u"'eu
the account stands as follows
Re1uet!on in Treasnry balance '-.....: 5000 900
Gold loss to money '''.''''-'''' -ooOVo
D.,.,oo commandments. s4s0, 600 900
There stands 1888, 900, 900 that In the last two
wears has been in the market seeking rev IN
vestments or applicable for specnave p ~ ths
world has displaced dollar OF investment DF a
reduction Of IT'S debt. nor has expanded It's legal
currency except by imports from other conniaies
new dollar OF money from the products OF us
mines Are we all children that IN ne Iac oi
such facts money is dearer in Newoi orK thn'l
anywhere else because the executive oncers OF us
financial institutions are chained TO the uinInphaht
chariots II wealthy Spectators? Some OF me
presidents Of financial institutions are carryn9 as
a sacred secret in their own breasts, knowledge 81
the locking up Of money which is the properly OF
their stockholders, if not Of the public
THE DAY IN THE STOCK MARKET
IL was not a panic, hut 1t came nearer being
one than majority Of the present membership
OF the Stock Exchange ever saw WIN an aP'
parent perfect stampede 10 sell stocks III the fIs
ten minutes after the opening, that caused prices
to fall off from To per cent from the casing
figures OF Saturday there was little exhibition oil
excitement or Of anxiety. ANY one walking
through Broad-st and passing the Stock EXCHANGE
At I0:IL would have found both Broad-st. aud
Newest as quiet as on sunday morning, anu
found on a telegraphic ticker that the prices were
| changed from Saturdays closing figures. In.
| market, however, on the tape was as ragged ana
panicky looking as any one ever witnessed; WIN
! Rip Four of per cent to "a IL, and the pre-
ferred per cent stock down 10 SO, without an
indication Of support from any source 1t ana look
| as if the bottom had dropped out
IL seems that London this morning was sup
piled with a great many of last evenings cables
here foreens @i soiK pag ii ' failures
| This we learn from reputable bankers who re.
| ceived cables this morning detailing the purport
of the New-Yorls cables and making inquiries rs
IN their trustworthiness. But, in tae mcanr
time the London market had opened, under The
influence OF the New-YOrk cables, considerably
below the closing New-York figures Of Saturday,
and these reduced quotations were here before
| our opening TO reproduce the delusion that Lon
don is in trouble What a farce money III Lon
don was per cent; at the Ncw-fork Exchaige,
because OF the shifting OF loans occasioncd by the
heavy decline in values it was IA per cent per
| diem and interest
| After the first hslfhOur OF sharp declines there
| was II steadier feeling and considerable rally
was established. But that marplot of confidence
| in any thing dealt in at the Stock Exchange
| Sugar certiicatcs-which in the carly dealings
had ruled strong at SO l-2a5s, against the gen
| eral markets weakness. suddenly, after 2 80
O'clock made rapid decline TO 5a52 l-2, and car
| ricd the whole market with il. The significance Of
Sugars early strength and its late weakness TO
be made club against the whole market. possesses
| little mystery when it is known that the king of
distraction In general values and the grand master
! of the Sugar manipulation hold frequent. II not
daily, conferences on /" the situation" and it's
| possibilities foI profit.
! Even Lake Shore shows decline of per cent in
the final dealings and Northwestern a decline OF
! l-2 per cent Have the last weeks. supporters
Of these stocks been warned by the little magician
| and the allied Wall Street bankers not to in
terferc with our" little gameS Without rhyme
or reason, measured by any actual conditions. a
| powerful clique Of capitalists have succeeded in
| dcmorazing the whole market, and having fright
ened all speculative buyers out OF the market and
some Investment holder; into opening their boxes
and selling securities for other reason than that
| they cannot comprehend the decline. now hold
| absolute temporary control Of the market values
| ard its immediate future depends entirely upon
| their will. When investors see a stock like Clevc
| land, Columbus, Cincinnati and St. Louis per
cent preferred, which fathered and ma rlteted
AS a irst-class security by the great firm of DreXe
| Morgan ~ Co.. kicked about at sc without sup
| mort thoy are not 10 be blamed for losing con-
| dence In all railway securities But it is well
| 10 remember that all this planning, scheming and
wickedness have been done for purpose and that
| the largo declines already Mcurtled, only sen