New-York tribune., 1890-08-30

Iid.Asksd.
FACTS on SILVER.

Friday, Aug 20-p. m.
Some of the recent buyers of silver certificates
during this week have betrayed some impatlence
al the tardiness Of the speculation in making
further advances in the price. So there have
been put forth some peculiarly constructed rea-
sons for the hesitation. II first asserted
that the Secretary would purchase the whole
months quota of 100000 ounces within the
month of August. He has purchased 3,360,00O
ounces, leaving I.13I,O 900 ounces to be pur-
chased before September I3 The law went into
effect on August 49, and it. says: 100000 ounces
shall be purchased per month, or so much thereof
as is offered at market price, up to parity with
gold. The Secretary may make whole months
purchases on one day. but he has advertised that
he will receive offers on Mondays, Wednesdays
and Fridays thus giving TO each month thirteen
buying days Then came disappointment that
under the purchases already made the amount
Of certificates rather increased than decreased, ana
that was attempted 10 he explained by curious
statement The reason is that the houses most
largely interested In silver have been carrying II
on time loans running little beyond the first oi
September. The condition Of the money market
has been such that il was not thought wise to
deliver the silver until the last day allowed for
delivery consequently deliveries have been very
slow Silver is being shipped to-day account
Of sales made eight days ago. The consequence
is tnat comparatively little money on account ol
silver purchases has zone out thus far: No" 'hal
the money market is easier silver sold is expected
to go forward and the stock carried in this mar
ket will run down" And then TO back that aD-
surd statement up, IT was repeated IN New-lork
paper that the new ega-tender notes 10 repre-
sent the purchased silver coming out very
slowly. Now, a matter Of fact the deliveries
Of silver to the Mints have been unusually
538O, 900 ounces the New-York Sub-Ireasury
by the issue of $3,0os,l0O new notes has pTac-
I'll % ast sa I all hs oGaT FL. E
promptly printed each days issue OF new notes.
The mistake that spo'ulators have made was III
supposlng that the certificates represented all
the surplus silver in the country, and in not
recognizing the fact that the Treasury is pur-
chasing less t.an the countrys annual prodnctiQn.
Hence, the deliveries OF silver TO tie Mlnts under %
the new law have amounted to about 2,lVO,OOo
ounces while the stock represented by certlncates
has, since the passage Of the law, also increased
about 1000, 900 ounces. Have patience, geIre-
men, and you probably in time will get higher
figures for your silver. AbsOrpti ion in the end
will tell but such absnrdties ms that tight money
retards instead of hastens tte exchange Of mcf-
chandise into new money did not, and will not.
help your speculation. To-day silver certificates
were dull at 81 10 l-?aSl 10 l-s.
THE STOCK MARKET.
The stock speculation to-day was dull. with
totals Of transactions in the general list of only
l,470 shares and Of 29,00l shares in the un-
listed department To the latter amount sugar
contributed 1926 shares, with fluctuations De-
tween 1S 1-S ana a "a. CLOSING hl - 90 wv
ton Oil particularly heavy under the new
disclosures Of It's financial condition IN the
general list Delaware, Lackawanna and Western
was special feature in its strength. with cnall
transactions Burlington and Quincy was
point of attack Oh lis July statement. The
figures for the month and for same month Of
three years are printed below June and July
are bad months for that company, but this years
month was made bad by an unusual expenditure
for bettermen,s charged 70 operating expenses.
The general market was devoid Of feature except
It's hrmness pending tO-morrow's halliday and
the two succeeding holidays and IL closed firm.
Monday beina Labor Day and a holiday in
the State of New-York. the Stock Exchange to-
morrew will adjourn till Tuesday
THE BOND MARKET
There were no transactions in Government
bonds at the Stock Exchange. The quotations
were steady as follows