New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-09
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.


The principal selling Of the granger shares To-
day. was for the short account. by some mys-
terious process tho bear faction was possessed Of
the superior information that the corn crop was
utterly ruined, and it proceeded with some spirit
10 depress the prices OF the very stocks which 1t
is IN fact, most anxious to buy. The courage
which waa displayed was worthy of better
cause IL II was rightly directed, II might have
achieved distinction on the BATTLEFIELD. or in
diplomacy and politics The largest short In
tcrest in the market is probably in Chicago.
Burlington and Quincy and Chicago, Rock Island
and Pacific stocks, and yet those were the very
ones which the bear faction chose to attack with
the greatest vigor The results were declines
OF about / l-2 per cent, although the last prices
were not the lowest for the day. IL may never
be known why stocks which might have been
affected by the continued selling for European
account were not selected as the chief point OF
attack 1t cannot be possible that the recent
selling by London was orders from New-lork.
There is admitted to be large short interest in
the English market II it should be proved that
this is partly for the New-York spectators. who
are vet hopeful of lower prices, the market to-day
| would need explanation. Neither patriotism
| nor generosity is strong characteristic OF the
| leaders this side Of the Atlantic, and they
| would hardly depress prices for the benefit OF
their British cousins. IL is immater ial TO them
who shakes the tree so long as they always
gather the fruit.
The stocks which have an international market
were, in fact, about the strongest Atchison lost
| / per cent and St Paul large fraction, but they
| were carried down by the confident rlIn0rs That
| the crop was ruined Ene, Lake shore,
Louisville and Nashville. Union Pacific and the
Northern Pacific stocks suffered losses of only
| IA to l-2 per cent, and IL may he presumed that
| they would have felt the influence Of any brisk
selling for foreign account 1t is possible that
their comparative strength was due to buying
| 49,. t1,n aknrt tntap xphfl of IL
| verted to the stocks which, unfortunately, are
not dealt in abroad. This is an old fashioned ma
nipulation, which at times has been partially
successful. The present market seems TO be too
narrow to encourage that policy, but the ontstand-
| ing contracts the short side must necessarily
bo covered at some time, and the course OF
| prices to-day proved that no opportunity or de-
| vice was to be neglected. The closing was de-
pressed. although the last prices were a little
| better than the lowest.
THE DAY IN THE BOND MARKET
Government bonds continued TO be neglected
ct the Stock Exchange but the market was
steady at these closing quotations:
con- BID Asked uscur o.. 1896 is a,.ee
$;::| !: If iis s
sale Of North Carolina consol Is at 0s. OF city
bank stocks, Shoe and Leather sold $40 at 1853.
The general bond market was irregular. and
|
realizing sales: Atchison incomes were active
at declining figures, but their final loss wac
nearly SIS per cent. Reading incomes were dull,
even II weak, and at the close they showed losses
Of only IA per cent. On the othcr hand, The
| advances were due 70 special causes. Atlantic
and Pacific incomes sold in q small way al an
benture IS further gained the fraction at lO4 H.
St. Louis and Southwestern seconds rose 5-s per
cent to 80 3-4; Reference is made to our i"ll
Money was a little drarer. and on call at the
Stock Exchange the supply at J l-2 per cent
appeared to be less abundant This was. how
The Clearing House statement was as iolio"S :
Exchanges S1,e56,ol7: balances, S4s4s;In4 r;n,
House S3l7 ,647. Its net gain on balance since
Friday was $62s, 37l, made up by gains OF 81 u
III in currency, and SOL 1894 in coin: The two
days operations included Receipts, 81, l63;95s
payments ST, 5355s7 resulting in general bal
ancr Of 81 81 ,039, $50; consisting of $97514,o9o
coin and $23,465,299 currency.
| The reasury bought 5Sl 900 ounces OF silver
bullion at s44s cents an ounce; The OFFERINGS
| amounted 10 $4,000 ounces. The Mercantile
Safe Deposit Company reported additlohn uc-
posits of G0,39l ounces, and the company now nov
Hods AZ security for outstanding certificates, w.
o' The United States Treasury at Washington
received to-day $4ls,9@@ National bank note" ior
reH Tta customs receipts were S7s5,so5, the
internal evenne RECEIPTS S S'so'ilo' and the mis-
''TTn'day's Washington Treasury statement Of
| ..h nm hand and deposits in bank compares with
The figures Of the last previous statement as
follows: - n,sa,...o.
! August G. August \. Dlnetences.
% s.s .. "a sSiSSSs sss 1" me- '
Ne" ssaa tenders ,24eoi5o lesraso Inc aS57s7
| Actual cash In toe
|
OUTSTANDING %. nos IN, slpe 4. 122 Inc ESQ., $40
| ccfuncates I9j 200 I209l, 7J4 Dec. 1924
Net cash bal $40 1877 slii.sooole Inc ss12 800
The foreign exchanges were dull and a shade
easier. although there was no material ,, change
| in rates. The supply Of commercial pils was