New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-26
STOCKS CLIMB STILL HIGHER
THE REPEAL "BOOM' CARRIES EVERY
THING BEFORE 1T IN WALL STREET.
SUGAR RECEIVERS ITS BUOYANCY-wEAKNEsS IN
STERLING EXCHANGE AND TALK OF GOLD
IMPoRTs-RAILROAD RETURNS

STERLING EXCHANGE AND TALK OF GOLD
IMPoRTs-RAILROAD RETURNS
MORE FAVORABLE.
The stock speculation reached higher STATE
of excitement yesterday than on the previous day'
The bulls were in complete control OF values,
buying orders poured in from the country, ana
there was a large increase in activity. The last
bear was hunted numerically out or his corner
and forced TO cover. and the room traders took on
all the long stocks their ships could carry. rev
issues failed to record gains of at least per cent
several advances Of 2df per cent were re-
corded and many stocks which nave rested III
obscurity under the summers financial Dhght were
brought to the front as candidates for specu-
lative Juror The market rose throughout the day
with little more than ordinary fluctuations. ana
closed boiling under the influence OF uesh stihu-
lants administered near the end.
The bull carnival was due to further connrma-
ton of the collapse of the opposition to the repeal
of the Silver Purchase law in the United states
Senate but new factors were introduced Ia 'orapie
TO a rise The sterling exchange market was SO
weak that confident expectations were INDUCED IN
Of early imports of gold Encouragement was ue-
rived from the gains in railway earnings re-
ported for the third week in October, by the chi
cago Milwaukee and st. Paul; the Texas ana Ia
clnc and the Missouri, Kansas ana IeNas rail-
roads. The sterling exchange market, however,
s,iffened toward the close and conservative bankers
are not expecting an early movement OF gold TO
this side The threat of Withdrawals from ths
Bank of England has already stihened rates oi
discount in London, which are now above per
cent. The high price of bar gold ana American
eagles in London also offers decided obstacle to
the profitable shipment of the yellow metal to the
United States.
SUGAR MOUNTS HIGHER.
The leadership of activity at the Stock Exchange
was still held by American Sugar Refining. The
effect of the sharp "slump'' the close on
Tuesday was almost obliterated by an opening
price at 1olis against 1912. There was later ad-
vance 1Oia.. which was Is per cent better thah
the highest price Of Tuesday but the last hsures
were lG2. No foundation could be discovered Tor
the sensational rumors that attended Iuesday
late break. and traders accepted 1t finally as one
Of the viclssitudes Of speculation which might DC
death to the little fellows but which the big oper-
did not mind. Other Industrial shares wnlcn
were strong were General Electric at an advance
from i6l2 to 49i. and Chicago Gas which rose from
62ign6li. to 6ilsa639s.. There was remarkable ac-
tlvity in Western Union Telegraph, more than
5000 shares changing hands and the price rose
from s6's on Tuesday to 9,'sn9Oi4 Chicago; ROCK
Island and Pacific advanced 3ii per cent TO ~; mi
cago. Burlington and Quincy 2es to S's 81. p Saeul'
Il. to 6is; Chicago and Northwestern re 10 io.s.
and Missouri Pacific. per cent to Zoi5 New T lork
and New-England rose to 3d. against 3Oss on tues
day. and the gossps promised some early iniorna,
bring the road into Newly rk. and carry II, by
way Of Russell Sages Poughkeepsie road' 10
THE COAL STOCKS.
The effect OF reaction from the extreme rise In
the coal stocks was shown in fall in Delaware.
Lackawanna and Western from lGG to l6il2. and IN
Central of New-Jersey from llsis to 1l7i2 There
were large dealings In Philadelphia and Reading
and the price advanced from 2li2 to 23ssG23is the
last price being i per cent above the highest price
Of Tuesday Delaware and Hudson showed excep-
tional strength and closed 2i2 per cent higher at
l29i, after selling at 19O This property ranks with
Lackawanna In earning capacity and financial
strength but the process Of investment absorption
has not been carried far as In l.ackawanna, ana
its price has always ruled below the latters basis
The new Vanderbilt deal is expected to exercise
decided influence on the holdings of Delaware ana
Hudson, and place the property in yet stronger
position. 49,
The Clearing House Loan Committee yesterday
cancelled $4,000 certificates reducing the amount
now outstanding to less than s2.0o.vO
The bull whirl In prices of stocks caught two
operators in the Consolidated Stock and Petroleum
Exchange short" beyond their ability to meet their
Clearing House obligations. They were S: G.. Doran
and John Zorn j. r. Mckee. at No. 80 Broadway,
failed on a wheat trade. The defaults are not
large and the operators have twenty-four hours in
which to settle their differences before formal In
solVcncy Is announced