New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-07-15
MINING STOCKS.
SILVER. -
Bullion certlt.. ......1olh 10l+ 1oi 1Ol 10
WHAT WAS DONE IN STOCKS.


Tuesday, July lap. m.
A little higher rate for money in London today
caused considerable selling of stocks for foreign
account in New-York 1t may have been merely
a coincidence but as this result has been pre-
dicted the first sign possessed unusual significance
The gold that has been taken from this country
may not be returned Immediately because Europe
requires o great amount of American wheat TO
save il from comparative starvation. IL VIII
probably make no material difference. moreover,
whether the holders OF American securities have
both money and food, are 0hhSed 70 sell by
sheer necessity. Monetary and commercial cur
rents are not turned easily by the luXuilcs OF Je
rich or the wants OF the poor Inc recent ouv
flow of gold was not i'll response to either one
of these influences II was in fulhlment OF
higher law which for the moment this country
is rich and prosperous enough TO DISREGARD, lie e
able 10 pay its debts in an international currency
There was no heavy pressure, however from
any quarter, and the foreign selling was remark
able on the surface, only because the conditions
in this country were opposed 10 It, Benef that
the exports of gold have ceased was encouraged
by the outward movement OF merchandlse, which
is steadily increasing in volume. There can oe
no reasonable doubts about the abundance OF the
harvest, although the crop Of cora IS not assured.
Railway companies are beginning 20 lec tF e.iec H.
of the larger traffic and the returns OF the Atcn-
ison system, printed i'll another place, are SIMPLY
a forerunner of what may be expected nom gram
carrying roads. Aside from tins prospective II
that rates are being maintained with unuS1ai
fidelity In addition 10 other evidences Ill TINS
direction the action of the Western Traffic Asso-
eiation at the meeting OF lie advisory board, IN
noStponinp until October decision Of the queS-
lion about Joint agencies, must be considered a
favorable indication. The action Is not entlley
favorable to an immediate rise in stocks, Dut II
is a presage of the advance Which The eNpeceu
continuance of existing conditions must compel:
The declines that were suffered to-day were OF
little consequence. The stocks that are most
largely held abroad declined most, but that OF
course was only because they are faVOrltes OF
spacuIaticn everywhere The business wac not
well distributed and ST. Paul ana AtchiSon flir
nished more than third of the transactions. 81
Paul fell ga per cent to Ga l-SaG4 Ia ana,
although Atchis0n appeared TO be in demand, IL
closed unchanged. Greater lcssts were SUSTAINED
by Louisville and Nashville and by spccaitles IKE
by speculative mani pulation. or the speclaItlts'
the Wheeling and Lake Erie stocks were con
spicuousiy strong the announcement OF the
regular quarterly dividend on the preferred stock
Incidents of the day were fall in Denver ana
Rio Grande on account of the passing OF the
dividend, and a sharp rise of per cent III Edison
General Electric on n decision about It's paIeno
rights in regard to ncandeSCent lighting. Both
incidents had little influence the course or
lack of more important developments. he CLOS,
ing was weak rather than firm but the maj
declines were insignificant
THE DAY IN THE BOND MARKET.
The sale of a single per cent Government bond
impart strength to that issue. Bios Tor some OF
The currency issues were lowered however, and
the closing quotations were somewhat irregular,
as follows