New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-11
THE DAY IN WALL STREET.
SPECULATION IN RAILROAD SECURITIES.

LITTLE NEWS TO AFFECT SToCKS-ANNOONOb
MrxT or KoUNTZE BROTHERS.
sroculatlon in railroad securities encouraged by
n imnorts NJ specie from Europe and by the recent
nurcbases of bonds by the Treasury Both eh"F' may
not amount to much, because existing coh'luo9 ar
nnosed "a these influences The shipments of specie
from Europe are supposed TO be largely IN AHIo
COIN but In spite of the fact the price Is repor' "
. fancy one The sub Treasury in this CITY hd9 par"
ont something over $1,000, 600, but at least TWO
thirds of il was taken out in gold certihca'eS :"
not impossible that the gold certificates VIII Nv i,P
resented in the bank statement on Saiurddf' "" wy
coin certificates in place Of checks Sh'u" nav -"
insisted upon is question that has "o'
answered Banks that sold bonds TO the treasury
would have been equally satisfied Will A'e'S"S
check and they would have made 1t part "l 'holr
legal reserve The gold certificates taken rom the
sub Treasury may be considered lheivi'Io '''''''
.ecretion Of gold The extent OF the ho''ui'7S may
net easily be measured.
The news affecting the prices of stocks was not
large. A small failure was announced d. .i0 1oN
rxchange ,vthopt effect because the liabilities OF the
firm were small, although few hundieu Sn1iVN "0ic
closed out under the rule There "oIo oue4i' III
zoo shares of Reading and sold out about Low Sics
of miscellaneous stocks and bonds IHc'o WIZ Hi'u'
wild rumors of disaster but they were fortunately
without foundation. Money is reported 10 De eX-
ceedinry tight AT Philadelphia and HttSburg as well
As at Boston but the rumOIs of EMBELLISHMENTS were
not confirmed. Money was easy on CdlI anu cAVcp-
tonaIy small amount OF time money was pdceu al u
per cent for year. The Ce'trng house ISSUED
$500 600 new certificates yesterday, which makes the
total ann,nt Sl5.O25OOO 1t could not be learned
that any considerable part of the increase was in favor
Of dealers or drawers Of foreign exchange RumoIN
that certain prominent members of the Clearing House
Association were about TO sever their connection wcro
said 10 be preposterouS by bank Ocefs WHO are III
position to know the facts.
liz Nd NJ thc mo
ing of the directors of the Western Union Telegraph
Company yesterday J. Pierpont Morgan and Charles
Lanier. who usually present, were away from the
city, but in spite Of their absence twenty two members
answered to the rollcall. There was not much dis
cussjon about the dividend, although the earnings
showed considerably over per cent for the quarter
and several prominent directors known to be in
favor Of increasing the rate There vacancies
in the Board and aside from the declaration of the
dividend there was 10 business done.
The failure of Hamilton a Bishop, No. 90 Broadway.
eXerted no influence the stock market While the
firm is CON paratively old one its business has re
Gently been light II had few outstanding contracts
ard inside, out of the Exchange lis debts are
small
The large bsnkin. firm of Kountzc Brothers. who
now clear their checks through the American EX
change National Bank, have announced their intcn-
ton after December -, TO surrender the facilities Of
the Clearing House of the Associated Banks. Their
example is likely to he followed by other concerns.
II is sienuOu>y denied. however, that any unavor-
able deductions arr warranted by this movement.
Friends IF the Clearing House say that II Is simply a
development Of the monetary stuugeucy. ~ a RUE.
the firms trust COmEdulc, which utilize the facilities
81 the Clearing House are required b. the bank through
when they clear keep deposit that Will insure
the .aety Of tie bank IN meeting the probable amour
Of draft each day. The private banherN VINO nave
been clearing their drafts now End that there l. more
profit in having ia hand the money which they are
required 10 Keep deposit
Banker, s.dculr the idea that the action Of the
Formers Loan and Trl>t Company, Wells, faiG" y
co. and Kountze Brothers dictated by an ind >po>l-
ION t. ply the 5000 per anuum required 10y the clear
ny House Association ny desire to keep the banks
from knowing their condition and resource. This
rha~-e and scrutiny at the pleasure Of the Clearing
House Committee are parts OF new rule which goes
mt effect the beginning Of the new year.