New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-16
WALL STREET MARKETS Al A STANDSTllL
NEWS OF THE ACTION OF THE RAILWAY PREsl
DENTS AWAITED HENRY CLEwS on
SILVER LEGISLATION.


DENTS AWAITED-HENRY CLEwS on
SILVER LEGISLATION.
Wall street awaited impatcntly the result OF the
railway presidents meeting a. Mr. Morcan's mouse.
Its curiosity was not satisfied and the stock market
at standStl during the greater part OF t'e u'H
largely consequence of the absence of no"s WHO" 1t
greatly desired. The fluctuations were generally mar
row. and although the movement Of prices Wa ny
ward il was not made with much spirit Missouri
Pacific closed Ia per cent and Northern Paclhc pre-
ferred IL per cent higher while few SpcclalUPS
made still larger gains. but the general advances "efo
not 2 per cent on an average lhc cIo>in- wa
the highest points. but II was suh'chN s'V"9
at only slight concessions Money on can WIS cA
cessively easy throughout the day and the supply 81
timemopcv was reported u be more abundant, al
though there was little doing in that dlIc'''"'
Another subject that attracted great dcaI "i Al
tcntion was the probability Of important silver "I'
lation by Congress. silver bullion "rthcaN' opcV"
per cent higher 1O6, quickly rose 70 no. ana aeI
moderate fluctuations. closed at 100 81. with Il net
gain Of { 81 per cent. TIL" early afNah'e "dN "uc
10 the prevalent opinion that the least that would Ice
done would be the purchase by the Treasury "' It"
the silver in sight in the country. Im> was IcE''uoI
with some satisfaction. because The certain result "u
he the removal Of silver from The arena "i sPec""'
ru,on certificates would be unknown and the former
place Of the American product would he resume"
Whether would bc satisfied with thl> "','o
was a question that Wall street was unable - SOW
II IVES not commonly believed nat fencoildTe p''
could be passed although fears Of IL were e"'al"e
IN quarters.
. v4lI.nformed broker advanced the theory that a
free coinage bill impossible because I't,''"'"
ON the subject would be controlled by political com
,ronse He aid in substance The position 81
m. Administration Is thoroughly understood l'o'
coinage bill could not be passed over the Fl'>ue''
veto and consequently its advocates are not HfcN -
nee .,a measure The opposition party certainly
la ".
rrom these conditions ! perceive chance' l'' 4
cor,rron,se in which the silver will be content L.
,sLo what they can get. and that probably Viii D7
very far from free coinage 49,,
Henry Clews has addressed open letter to 'e
secretary of the Treasury IN wElch he mann o.o
Two novel suggestions about silver ee>ia''cn
expressny his regret that he had been nhsDic 10 s
the secretary on his recent Visit 10 Iic '''' 90
Clews SAYS on the silver matter:
Congress 10 amend the present silver IA" !" ~
sorting A clause giving the secretaY oi Tue - '"
authority 10 change az his discretion the Per'"' W
tho uurchs.e o. silver Al present tie IA" P''"
60, 200 600 ounces each month which is absolute
In piece OF this-to provide for the pfe''" !''' >
erisi.-,ub,tuc at the secretary 0I''fc''oH d"''
~ nrrcIa,e \ double amount III December equal "
5000 900 ounces, and the same iog January I''''''
and March. and suspend the purchase 'I.'''0''
provide for same. in the months % April nay '''
a INV next | suggest this because now j. u'
time
,,eson, need and cry for more circulating medlh' d'
i; issued As proposed will entirely remove the hc'e''
~ adding 70 or in any changing the present '''
law "A it now exists What IS important ior 'l- peop'
az the country 10 know for certainty l. tiiat 'he
,, rel, up,n the prcscn, law being permanent ?"
MT subcct 10 changes at the convcnns OF every oil
gees. When the present Law mas been ID eAia,c.,
vc,r II will hrin. ont the new silver money AZ y
gazing in amount about $6OOr',OV'' ana ca.n a.,
trrr,tft r AN equal sum- in ten year from uic ua'
- i've massage OF the Act the amount Of thlN m'he
viii be about 5000 900 900. TINS auh'aL .hCL t
an ~ the opinion wifi be ample for that cIa>'
nnney ana il would be un"l~" - lhci1d> H.
ccrainlv will te sufficient # Congrcs, VIII aN3 pa
-. on sarN date senator sherman bill, "hlch p,
vide Tor National bank bill, u DO issued up M ~
mar valua ~ thu United state bonds. NJ WI y
crease that class Of money ABOUT Sl3UoooO' \ ~
n.ssaee of the latter Act by Congrs, "0nII
p~9,nonslv considered a wise and iudclou' lHc
iaton especially as the Government under the pres.
restrtcting bond 10 be received al 80 cents on i
dollar is not only hardship 70 inc nih' in .a f
"a mt nm 80 large amount or thclF 'dpth
m.roin Int AZ tie same time il puts tho Govcrnnc
~ NE false position OF diScrrdtins IL own Secunu
~ being only willing Ia take TIC b0nd, AT 90
..eurity' when they selling IN the market al l.