The evening world., 1893-08-30
LARGE BUYING or STOCKS.
Orders Received by Wire from
Every Part Of the Country.
Outlook in Wall Street Augurs Well
for tho Bulls.

The restoration OF telcgraphic COM
muncation between New York and the
financial centres in the interior was
clearly reflected on the Stock Exchange
this morning. The buying orders for out
of town accounts we're more numerous
than for a long time, and together with
local purchases caused a very buoyant
feeling in the market. Since the House
voted so solidly for repeal number
of prominent operators have taken AN
active part In speculation, and reports
are current that various pools are form
ing to revive interest III stocks which
have been dormant for some time.
The dealings were unusually well dis
tributcd. and nearly everything on the
list scored higher figures. The advance
was equal to H. a - per cent, the
latter in Erie preferred, which sold at
% -.
Pullman rose :. to l52; Sugar 2. to
Us, to "a; Lackawanna l 3-s. 10 1877 rs:
| Manhattan 3. to III l-2; n. Y. Central
-. to iol;- Rock Island /, to 81 3-1
NorthwnsI snd s,H r9 vs. 10 81 70 ts 3D. 10
General Electric fell a., to 3S rs.
and later rose to 40 -,
The bulls argue that stocks are now
| 10 to 20 points lower than when Presi-
| dent Cleveland issued the call for Con
gress to meet in extra session. and when
| the repeal of the Sherman law was II
case the Claim is made that there is
plenty of room for further substantial
rise. Conservative commission houses,
however. prefer to see gradual i'm
provement especially so long as there Is
| "A scarcity OF time money.
President John u. Gcst. of the Fidelity
Trust Company, says. relative to chi
| ''The Fidelity rnpnapv has hppI
| advised OF the declaration of a dividend
| payable In scrip In the. first place, the
| Chicago. Gas Company does not declare
dividends; The companies under its con
troll can declare dividends. but the money
| thus appropriated is sent to us. and W.
In turn: forward 1t to trust company ir
among the holders OF Chicago Gas Com
panys certificates, which werc issued b,
us, the Fidelity Company being trusted
for the certificate holders We are op
am free to tell you now that the divi
dend will not be paid in scrip We dc
not propose making the Fidelity respon
sible for It, If the four companies In the
in scrip and forward 1t to us for distri
button, we shall hold the scrip until re
deemed In cash"
| The Northern Pacific receivers will
ask for S600o.o 900 receivers certihcat ties
in order to save 100000 collateral.
The steamship Elbc brought the fol-
| ioWlllp aTnouItS OF Eolu.
Kuhn, Loeb e. Observation-Disclosures. so 10,
Knauth. Nnchod a Kuhnc. ............. 40, iW
| Canadian Bank ~ Commerce ........... - i:W
| i!rwn BROTHERS 4 Co. o...,............. 100,
xfter the early advance the traders
began to realize. and prices ran of
about IL TO ! per cent. but the bulls
soon took a fresh hold and speculation
once more became buoyant
1 81, ,I~tc hnl llN. ftts hN -.
made strenuous efforts to cover. The
rise was so sudden that they could only
get in a part of their contracts 1t has
| been months since brokers in the eX'
orders having been received from nearly
all sections of the country as well "a:
from Europe.
| We're on a large scale, and at interval!
were attended with considerable excite
ment.
Money on call was easy at pc,
cent.
Currency and spot gold are quoted al
IA Il per cent. premium. but these
| figures are moro or less nominal. the de
mand being extremely light. The pre-
MUM on gold to arrive has virtually
disappeared. Taken altogether. the sit
uation shows a decided Improvement.
1t is quite possible, howecver, that th'
prepa ra tionS to meet the september in
terest and dividend disbursements may
have the effect OF temporarily stifenint
the rates for money towards the end %
the week
Time money Is working easier, but the
trust companies and others are only
| willing to lend on strictly prime collat
| erals.
| TIE Suh-Treasury was debtor at th'
| Clearing House SS9.1III this morning anC
| settled chiefly in gold coin,
| Long sterling was firmer. owing to &
further decline in discounts in the opeI
ma arkct at London.
The buying of securities for forcigi
account had less effect than usual be
cause OF the demand to cover maturint
sterling loans. Bankrs G0-day bills sol,
at i.S2 II 4.S2 IL. demand at As "a
1856 IA and cables at i.S5 3-i "A a.SI Ia.