New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-10
CLOSING PRICES OF boston SOCKS.
Bottom Dc 0 1890

STOCK

II before there was agthinS necessary 70 prove
that i" am buyine sticks without a competitor
Yesterdays manipulate of rates for call loans
up TO IA per cent AID interest furnished il. The
WAYS of the lac mMiplatOrs OF the stock market
and Of the morcy nIrltt are dark and mysterious.
But il is plainly apafnt to a four-months child
that if the decline stock values in the last
part of last week we're the results Of liquidation
Of long" account, here should have been an
easement in rites or call loans instead Of an adj
vance 10 IA er ent per diem. Today money
market was orne' under a fright at OaS per cent
per annum, 1T te supply Of funds uncontrolled
by the maniIaors was SO great that at the
usual bouowg hour the rate was down TO .
per cent andnIly to per cent.
We wrote sunday: If the conditions Of
our foreign lanccs are such 10 warrant an
imDortatiOn gold from Great Britain the rates
for eNchang@ill quickly adjust themselves 10
any prenI1IIde mandcd for gold bars BY the
Bank OF Enpd. They have done 50 already,
SO that sghNchangc on London is 2 cent
per & below importing point on the basis OF
par for bars, and the reports
are that ,225,O0O has been engaged
for shipmenby steamers leaving England
tomorrow. do not need TINS goid IRON
Europe. The umcnt is an innitesImal mite COM
pared with tmoncy locked up III Wall Street
nrsj, for spccuvc purposes, and secondly because
of fear enacrcd from the speculative lock
up. 1.-THE bpean movements coming tbs
way only bccs legitimate causes bring IT, ~
special action banks or bankers j. Influencing
il - the eAtcof a dollar. Any action Of the
banks looking "A STRENGTHENING Of the iorclLn
exchanges, II / action were possible for them
To take, Wou'taTd and not facilitate the I'M
portation Of 2, So We summnrlly dismiss tie
subject of banlustaining the foreign exchanges
for the PURPOSE inducing gold imports.
The IrcaSuIfcncWcd purchases OF ! per cent
-. 4,.f 81,
tonight are aicr unimportant factor IN tnc
monetary sltua, except 50 far as II goes -
pethcr with natural import movement of
gold toward thakc-up OF the Straw that VIII
break the cain'bacH Of money manipulation.
\ portion Of thecks paid out to-day for YES
tcrday ; bond , asses by The Sub-IrcaSury were
cashcd at tlc TEL desk, and the gold certificates
were carried az instead Of the checks taking
tie usual COURT business-dcpOsit in banks
and collections through the Clearing House.
Hence to-day Treasury statement shows q
loss of SOB, ecash, while lis debit at the
Clearing House only $I2s,178. Another case
suggestion tile Treasury Department
II would lie as by Tie redemption |
Of - per cc'onds al par and interest 10 !
date of matuIllFc Government is making 10 I
saving, and as o~e bonds are coming ia /
very slowly, and.vcry offer 10 purchas" per /
cents docs prIns lrsc amount at prices W..r.i F
afford a saving T. Government, the rcdcmW
Of u per ccnlfSIDpped. and that all surplus /
reserved be dcvoso The purchase Of the ! per |
cents. When IL . per cents mature on |
October !, ] s9l " may De refunded into "a
l00-year per cCtoIj, and National banks VIII !
climb for them III premium for PURPOSES of ,
not" circulation.
The people or JetOt who left the stock mar
kei last NaturdaWh Ugh hopes of on Monday !
seeing the guti" Icdwlth the gore OF lambs
were dsapppihlF estelay, and to-day were
appalled, 10 find "a tho supposed lambs were
wolves with a wi lotrg The DAYS market
opened ma'crial lNilcr ton last nights figures;
al
il was icNcrloh al lble' 70 rcact!ons, hut l;6
general tendency n Of Excelsior character
Toward the close m-nct there was some
thing very much lie " BON" in values. but Sc
are willing 10 set age par of that down 10 the
urgent purchases off, shd" 80 lcy, of last Fri
dav and Saturday. Hta' eli II lnyin, ya, due
only t. the dcVclopncJf ii fact. that they had |
been fooled into m'k the original contracts
and that was chang all the stocks
offered There was lqco1 about the dcprcs
sion Of the Southern iuusiry to-day, wien
Louisville and NaJlc w1s ruling ~
So l-2o7 81, than va Yesterday. When it
was selling at io@3t he Union PaciHc's
floating debt looked lerIniablc with the price
Of the stock rising fro, .. 10 a. 81 than if
did Yesterday with thurs at 40 81 PAM.
at A. II 30 Ia, furil .Cmc hope Of good
advances when yfs'c i failed 10 make a.
- 4 q - is. instead 3-8 n % YESTERDAY ~,
flccted rot only the uiy ,Ranipulation OF the
market, but also PARTICIPATION Of confidence.
Rock Island ,nat sih"Jjtch 50 often we have
better TO-DAY ab ~ - IL did yesterday AZ
50, although theh IL wiper cent higher than
Missouri Pacific.
If we seem 10 treat, is really = serious
matter in o light and Mt manner w must
be excused, loT 'ie ltdsat we cannot FORGET
what roaring l1LCe elst four months Of !
speculation = al INC Exchange has been
4 combination OF feNtalists and railroad !
managers nave success PemoralIcd "A stock
market in which there been no married. |
speculation in two years locking IN q fc,y
millions OF do!Iais III c"ey have frle htenci
other large hoaFdih9s Oh I'LL the commercial !
and n!eIcahlIle ulTITCs. been leOpardiZcd. /
And yet the tNlteu oc,>aS been attcndin.
strictly 10 Itr own pisIl IL has tied mp no
money in Sonth amer ,priscs: il has had
10 interest IN iHc ana nal scheme other
than il sod IFS npnin The Panama
Railroad al rX0rhi;alIc"s and 10, o
It's money Tor 'iaIc: IT, h.s
zone steadily forward u, roductiOn Of It's
farm products. II loT r'caIs has created
annually $40, 100000 OF ntley from it's own c
mines and now il is impoiold from Europe
an lis trade balances. A. France which
has lost It's thousands OF u on the Panama =
Canal and England. Whlcfied mp millions
of sterling in Sou'h Aihrr'bOth easy in the q
NANCY markets, while tc al centre Of the =
Tinted States is held panic-n by the power
of few capitalists. IL Is well calculated :,
to draw tears from the au; but over the