New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-06
THE WET-BLANKET MESSAGE
v,rr. STREETS TONE IMPAIRED BY THE
PRESIDENTS STATE PAPER.

PEARS RAID AINuioON O.> '+'''~'' So
or prcEIvERsmIP-LoNDo SELLS STOCKS
Avn EXCHANGE ADvANCEs-DEMAND
FOR GOOD RAILWAY BONDS
.o,r,,rg effect OF the Presidents mes
iie CONGRESS- was more marked in wall
80, Yesterday than the day previous ne
s,,on overnight increased the DISSATISFACTION WIN
-, the message had first been received anu inns
as not confined to party lines. the criticai cohui-
,o Of pubc affairs had led men 10 DeiieVe 'na' /"
W. and reassuring declaration would be MADE
-. Mr. cleveland on the vital questions Oh 'he hour
o' -, ,.ooue and colorless recommendations on
anu mt ,oncs were like cold water on the street.
60 or,,icsm frequently passed was that the Al
,,,s,ration seemed utterly TO IAN 10 appreciate
49, arous condition Of the National hhahces' Inc
~ was satisfactory neither to those bankers
- believe earnestly that a large issue OF GOV
.no,ent bonds is needed to preserve the Natlonal
,'. or those speculators who pray for bond
= a means of stimulating a hagging market
The only influence of the Presidents remarks upon
,hs tariff question was to chill the hopes 'hat MT.
ooIon nd would not commit his party TO the radical
industrial disturbances contemplated III ''e i'0'
tariff bill - -,,o>-
The tone of the stock market was affected I'M
<tly ny the outlying from Washington, but
49, hoors nlayel card of specific influence In
,orous attack on Atchison. Topeka and Santa re.
London sent lower quotations and continued 10 sen
bonds and stock here. The old rumors oil d possl-
HE receivership revived, but as stated III ue
tail elsewhere met with official emphatic dehlai'
IT. ,,chlson bonds declined 203 per cent. The
s,ock was the most active the railway list. and
o,ennc down over per cent at 2O's Declined lur-
thor 10 49, and rallied only Y per cent on fresi-
dan, Renhart's denial. cabed from London For
eisn nouse decline in Chicago Milwaukee & St. Paul
from 659s Monday night TO ei4Wois, IN Ia
ana ana, > 1ssI 10 2iisa2lS. and in Denver and Rio
Grande preferrd from $s5s to $sasS,Ss. sevora,
If the industrial stocks General Electric broke TO
as agans5 S Gn cotio oil resulted in
fall of % cent TO 2S9s No decls,on va hica aa
nounced respctns the coming dvde d ON nndsV
on reports that the dividend would be PAID IN casn
instead Of script defnSd in 10 it's strength and con-
tnued to be the most active stock III me marhet Mel
Closed at Ss The effect of the proposed reduction
IN the duty on refined sugar is still discussed with
ineTesMs o Mn Ss' tie Brooklyn rener published
IN The Tribune as tho be Re Writer'S S 'i
the sugar trade. said: ,.,,. .,. r,.ouo
M Moenhanera is 0 rsh rend ngFs
would go to the wall, and it Is serious question
survive any such tariff as that proposed. The alb
normal development Of the beet sugar industry IN
more into this country. and the premium or bounty
paid on exports of refined sugar. together with the
will enable them to supply refined sugar 10 the
United States in such years as the present at
prices that would make 1t impossible for the Ameri-
can refners of sugar to compete. even with
much reduced scale of wages, which would work
great hardship to the laborers here
THE DIVIDEND on SUGAR.
Regarding the dividend soon due American
Sugar stock Wilett & Gray said: 1--WE see no rea-
son why it should be reduced The dividend has
been earned and is due to the stockholders. 1t Is
not the past business that s affected by the tariff
but the future business. There may well be doubts
as to the continuance Of the dividend If the Ways
and Means Committee bill becomes law"
The selling of stocks for London account was re-
fected in another advance in sterling exchange
Purchases OF bills for remittance were added TO the
demand to settle commercial debts. and the rising
tendency Of the exchange market restraints bankers
from dra wing bills freely
The unsettled temper of the stock speculation does
not check the continued demand for high class rail-
way bonds. Bankers report that investors are
putting their capital into sound mortgages, and are
anxious to share in the profits of subscription
issues Issues payable in gold are preferred by in
vestors, and it is expected that favorable response