New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-04
CLOSING PRICES OF SAN FRANCISCO STOCKS.
crosIXG PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.


The stock market presented two prominent
features to-day Tie industrial shares were active
AZ advancing prices, while railway stocks which
enjoy an international market were dull and
droopinr. There was little Increase in Business.
nm. il was wholly in stocks which are not known
abroad TIE continued selling for European ac-
count was not encouraging. II makes little dIhcr
ence whether the cause is distrust Of the financial
policy Of this country or speculative poverty AMI
rorI,ors financial rottenness in Europe The
fact remains that gradually Europe is reducing
its holdings Of American securities. although us
speculative interests were supposed to have been
closed long ago The frmncss Of foreign exchange
at a season when usually return How OF gold -
beginning TO be talked about must he chiefly
owing TO this secret movement OF securities. III"
prolonged selling is not explained even by fears
that this country NAV not lie able TO maintain gold
payments because Europe shows no willingness to
buy gold bonds OF assured character The selling fort
unately Is not active and i resisted stubbornly by
the favorable conditions and nnhounded confidence
which prevail in this country. II further snip
ments Of gold should be made necessary Nv 'he
return Of securities from Europe. there Is every
reason to believe that they would be borne with
the utmost patience. The weakest stocks To-Day
were those which are dealt in abroad: Atchlsph
St Paul Erie Louisville and Nashville. I"a'.lng
and Union Pacific all closed at virtually thcir
lowest points with osses Of from - 10 So
the sharp rise in nearly all the industrial stocks
The transactions in this group We're NOR" thah
one-third of the total business The advances
in National Lead, American Cotton Oh AMI
National CordaCe were from 70 per cent, while
Iacledc Gas, of 81. Lonis gains still more. Amer-
can Sugar Refining was quiet within narTo"
fluctuations, and i>S1illing and Cattle Feeding
was dull and rather heavy; but these were
merely striking exceptions. In mar kcd contrast
with the general market, tie industrial stocks ms
rule, closed strong, although little below their
highest points.
In reply to repeated inquiries about the recent
advance in the Minneapolis and st. Louis stocks,
il may be said that the movement appears 70 bo
justified by the earnings Of the road The June
statement has not yet been published, hut for the
previous eleven months OF The fiscal year ne n"t
earnings amounted TO S73s,3 1874. against S5ls,2o0
in the period a year ago and Si16,s3l IN The
year before that. For the last year the net earn,
jncs are expected 20 reach $4,000 The fixed
charges are less than $500 900. and the surplus
earnings will ne equal 70 over per cent on the
preferred stock. The amount Of back interest on
the funded debt amounts 20 about 10000,
against which che company has in It's treasury
81 900 900. At the hearing. on August ~, In
the suit for the foreclosure Of the equipment mort
gaze II is possible that payment # Ills balance
OF back interest may bc rendered and the receiver
ship discharged. The Rock Island Railroad owns
more than three fourths Of the total issue OF eqi
ment bonds.
TIIB DAY IN TIE BOND MARKET
Government bonds were still neglected AZ the
Stock Exchange, but the market was steady at
these quotations:
Bid. Asked. nd Asked.
s:.s 1901 on, Ts sca,s. fsS7 i2if
T ils I i5, TG: H.
The business in State bonds comprised an I'M
usual variety of issues Alabama, class b. sold
at lo5 l-2, and currency finding d at &c.
single bond Of North Carolina consol ~ fetched
0s l-8 Tennessee settlement Is were in active
demand closing at a. an advance of "a Isr cent
The only sale of city bank stocks was North
America 800 at lG9.
The general bond market was devoid Of inter
estng features. The course of prices was rrequ-
lar in sympathy with the speculation in stoc ks
Atchison incomes fell IS per cent TO 60 IS. but
the general As We're steady at SO "a Erie second
consos sold at l0j IL, but closed dull and IN
changed at lOj Ia. Laclcde Gas Light first rose
first prices were the best for the day, but 'he
final changes hot important. Reference 10
made TO orr full report Of bond Gales.
There no change I'm the monetary situation
On call money ruled at l-2 per cent, and time
loans negotiated at previous rates WIN
concessions in respect 10 collateral sccnniy.
The Clearing House statement was - fo'l0ws
Exchanges. 81 0s,32j,2 balances. So, $50 lbJ.
The Sub-IIeasury was debtor to the Clearing
House S432,5 Its net gain on balance was
S276,42i, made up by gain Of $50, 2o7 in
currency minus O loss Of Ss6,7sG in coin. The
days operations included Receipts. $3.50, OF
payments s2aG2,esl resulting in II sd general is7
4s3 coin and $22,247 1902 currency
The Treasury bought 10000 ounces Of silver
bullion al S0.Iu anu $500 cents III OuH'c. Inv
offerings amounted TO G03, 900 ounces. The Mcr
canti'e Safe Deposit Company, Of this city, re-
ported no change in the deposits Of silver bullion
TO secure outstanding certificates. which remain
at 2,Ol4,30 ounces.
The United States Treasury at Washington re-
ceivcd to-day Sl05,403 National bank notes for
redemption.
The customs receipts were SGoa,577, the in
ternal revenue receipts $I3 ,03j. and the mis- ell
lareous receipts Sl4G,42l.
Today Washington Treasury statement Of
cash on hand and deposits in bank compares with
the figures OF the last previous statement as
follows:
.. Aug 3. Differences
Net gold On hand 392 81 $50 il9 Inc. ~
Net Silver on nd. 496iA7t t,S72.30s Dec. s3lGG
ON hand .'.. II.oIs.Go6 1920. o24 Inc aiIGis