New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-02-25

WHAT WIS DONE IN STOCKS.

Coooulo+ion in stocks turned to-day. hut only
.,.ord tho cvtrcp,c apathy which the decline on
Friday. if was hoped. had relieved The course
of the market was disappointing to both factions
tho bears had ,ypcctcd a moderate liquidation IN
consequence Of The probability Of higher rates
for money. and the bulls sharp demand ny thcf
oppoucnts on account Of the apparently oveTso!d
condition Of many stocks In contradiction o.
both opinions the market declined In the cary
dc2linr, and rallied AT the close, bat was dlI
and irregular throughout the day. Louisville
and Nashville was one of The few stocks wmch
showed Greater activity. but in spite of a rally
of IL per cent il closed nearly per ccn' lower
Than on Friday. Tennessee Coal and Iron leap"d
70 second place in volume Of business aithou-h
i, was clearly first 10y lis violent fluctuations.
T. dronpcd from 90 II 10 - without an I'M
no-taut interruption. and then rallied - ~ win
canal steadincss. 1t is understood that tie
recent decline in this stock is not based ON oth'r
than speculative grounds Tie chief supporters
are friends Of the company in Tennessee, whose
confidence surpassed their financial resources
Al the lower figures the buying was substantial
in character -: nan,
Tie connection between this cratic mo'cineh '}
and "A decline of per cent in COLORADO "aI anu
Iron /, not plain for il would seem that NE con
ditioUs were entirely different. but the Western
stock followed the example with sltNINh INN.
,fHJo,crJ b[ the movements in Louisville aud
Nashville and In Tennessee Coal 'uroHNN
enough Rock Island ana Burlington ana QUINCY
advanced almost from the opening ana III "'
last hour with remarkable spirit. In the case
OF Rock Island the short interest IS stlll believed
70 be large. but IN I he other instance lIc SuP'I'
may have been partly artificial The less afuIe
Granger stocks. however, were comparatively
strong. and. with Missouri Pacific: they recorded
final gains Of about per cent. The closinr was
i'm the midst Of a rallv which left IN" maJ"Hty
Of railway stocks AT about the highest points.
The incidents Of the market served only - hrng
into clearer relief the strictly professional char
actcr Of the trading. II is not surprising that
there is no speculative public in Wall Street "hcl,
tie control Of prices is IN The hands OF skilled
operators who care nothing for natural c"ndi-
tions. turn in The market. which varies only
with the ambition and opportunities Of tie trader.
is the sole end sought 10 be attained he means
are justified in Wall Street morals by tic accom-
! plSAmcnt Of the purpose.
TIE DAY IS THE BOND MARKET
The Treasury bought S73.4oo coupon ID per
cents AT l0l b.. There were no Transactions ~
| the stock Exchange. bat bid, for coupon j. were
| lowered. The closing quotations were as follows
.,.,, ,,g I Rs Az u sorc,.,o "a "a AK
U>4le-.l-9l con. ielo1 IC.Scr'"- I-"7. l2g2....
i2o -. .s lI25i-- s c 10, i2} f.
State bonds were quiet but firm The business
| included small ,?lcs of North Carolina conso Is
| ri o. Tennessee settlement IS small al - and
! Virginia deferred IS receipts Al - OF city
! bank stocks Western National sold 900 Al %.
| The general bond M rkct was excessively dull
! and rather weak. Wabash seconds fell 81 per
cent 10 so Ia, and -. Louis. Arkansas and Texas
Gr>ts per cent 70 80 81. Many issues lost
| small fractions The I,ost conspicuous exception
was an advance OF / - per cent IN Louisville
! and Nashville IS. which closed ~ 10. Refer
cncc is made 20 our full report of bond sales.
Money call was held at - ! per cent in
| the early dealings but in the last hour the rate
| fell 10 q and the final loan made al per
/ cent. The supply Of funds was too liberal 10 en-
courage manipulation Of rates above 10 -
The Clearing House statement to-day was as
| follows: Exchanges, Sl4@,''9,5o2; balances,
| The Sub-Trcasury was debtor 10 the Clearing
! House S17.144 Its net gain on balance was
| S.23I3j, made up by gain Of S53s.s60 coin
! minus a loss Of $lj.12j currency. The days
! operations covered Receipts, s.. 500, i3G; pay
rncnts. - 93S.3Ol: resulting in general balance
| Of &1s4.%i5,N90. consisting Of $l7G,Gs0,0j4 coin
and S7,G95,s3G currency
REPORTS FROM WASHINGTON.
The United States Treasurer at Washington
received to-day S3J4,SSS National bank notes for
! redemption.
Inc customs receipts were Sligo, G6s, the in
tcrnal revenue receipts S00j,6i6, and the miSce-
| laucouS receipts Sl1J,9l :.
Today's Washington Treasury statement Of cash
on hand and deposits in bank compares with the
figures of the last previous statement as follows
Tct 'ilver On I'D 1905 l2 24i3e.7iC Inc. 7ooai
N on hand .' o19s.soo oleo9oo Inc PCS ls7
| Actual cash in
| Treasury vaults
over outstanding . $500 49,. 49,, . e.....
certificates t2l6 90 10 III DIS ~ Ih' fIVp3"Ol
| Deposit, In bks. 3l.19G G-3 3o'31 693 Dee. $3.50
Net cash 73l 1913 27Gooi Inc. @542l
The foreign exchanges were dull, as usual on
Monday, and extremely heavy. Rates for stcr-
ling bills were weakest and, in spite of the lack Of
business concessions for demand bills were made.
Otherwise the market WAS well supported at
quotations for business follows: Bank
crS bills al - s2 and 81 sJ "a for long and short
sterling respectively: French francs at 81 IA
and 81 "a; reichmark., at % IL and % Is,
and gulldcrs Il 40 and 30 Is.
In London British consolS were l-1G higher OF
% ID for money and 81 IS for the account In
the open market morey ruled at 4 Is 10 IA per
cent for discount Of bankers bills and at 10
II per cent for Of balances. Bar silver
was tric higher at AZ 13-l Cd. ounce.
American railway shares declined until near the
close, when there was a slight rally in the leading
stocks. At Paris French per cents were strong at
$50, sight exchange on London being 25.25 1-2
francs u the sterling.
l.,wI ~ thcar ft,,,e g.. flta