Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-05-06
WALL STREET CALM.
A Quieter Feeling Succeeds the Ex-
element There.
ANHl-AMERICAN OUHRAGIS IN CHILE.
Close of the First Week of the
Exposition.
ALDERMEN AT FISTICUFFS


There Was Fall in Sugar, but Other Stocks
Commanded Higher Prices.
New YoRK, May 6.-The general run of
active stocks, both railway and industrials,
opened strong and anywhere from 4 to 21l per
cent higher. Cordage rose from IA to 211s and
then receded to 20. In the first ten minutes.
however. sugar. which had opened at 81, fell to
III, and this checked the rising tendency
At 1915 am. the market was weak in tone,
but business was not specially active, and the
excitement did not touch the high pitch
reached on Thursday or Friday.
Tho stock exchange during the first hour of
business presented n striking contrast with the
excitement and panicky feeling that pre-
vailed yesterday. While the dealings were larger
than the average they were comparatively small
as compared with yesterday and the fuctua-
tons were far less violent.
After a rise of Il to 315 points at the opening,
the latter in sugar preferred a disposition to
sell was manifested and a sharp reaction
81, Chicago gas from 741 to 61A,
Manhattan from 1879 to 1875, Rock
Island from 7S1f to 76, sugar from 81 to 77I5,
preferred from S31s to 8l1S. Western Union
from s519 to a. national cordage from 211S to
10, national lead from "a to so and Missouri
Pacific from 4214 to Az.
After 1890 change for the better set in, and
higher prices than before were recorded Rub
Der preferred rose Z to 81: general electric 4 to
SO: and there was an improvement other
wise OF Isa254 per cent. The reduction
In the posted rates of exchange to 1885, and
4SS3a and the absence of failures had good
effect on the market. At IL o'clock specula-
ton was comparatively firm
THE MARKET cLosep QUIET AND FIRM.
Stocks made further advance in conse-
quence of the favorable character of the bank
statement, but later cased off. The "indus-
trials were relatively firmer than the RAILWAYS
and showed net gains for the day Of 1al y points,
the latter in American tobacco. The dealings
were quite moderate and there was an entire
Absence of excitement. The market closed
quiet and firm.
Money has been easy 8 and 6, last loan at
and offered at 3. Prime mercantile paper and
and per cent: sterling exchange Is steady
with actual business in bankers bills at l. S41L,
1855 for sixty days and 1863 and 4.S7%
for demand; posted rates, 4.s51sa4.sS1s;
commercial bills, s3a4 S6Is. The clearing
house statement for today is as follows: Ex-
changes, Sl70,06 ,0S4: balances. S6,6i9, 7s5.
The subtreasurv debtor at the clearing
house today s673.5OS. Bar silver, $685..
Government bonds have been firm. State
bonds have been dull. Railroad bonds have
been strong.
The weekly statement Of the associated banks
shows the following changes:
Reserve. increase. S679.025s loans, decrease
S262, 500; specie. decrease. 1888, ZOO; legal ten
ders, increase, $1.645.500; deposits, in
crease. 81, al, 100; circulation. decrease, S2s,
700. The banks now hold $l2. 235 IT'S in excess
Of the requirements, of rs per cent rule.
MR.. SAGE ADVISES AGAINST SHORT SALES
Confidence is slowly returning in Wall street.
Leading men express themselves as more bull
ish on the situation and the following remarks
of Russell Sage are the views generally held in
influential quarters.
Mr.. Sage said: II would not advise indiscrim-
mate purchases, but good stocks may be picked
up now and held. 1t takes less money to carry
Manhattan than it did when it sold at IFS. and
Western Union looks cheaper than at lO1.
L.ackawanna below 140 is not dear, and
the industrials, the menace to the markets.
and the ones that have caused the depres-
sion, are now on a basis more representative of
their intrinsic value. | am not an uncOndi-
tic nal bull, but think that sales of short stock
will not be productive of profits"
The temper of the market. taken altogether
Is less feverish, and commission houses report
u better inquiry from investors.
SYMPATHY FOR MR. WHIT
s. ". White was on the floor of the stock OK
change a little before 10 o'clock this morn
ing and received many expressions Of SYM
pathy. This morning all those who had stock
exchange clearing house contracts in American
sugar with Mr.. White which did not 60
through the clearing house were assessed SIT
per hundred shares The amount of such con-
tracts was 8. 900 shares. This shows the exact
loss which was made on his sugar deal yester-
day.
The following securities were sold out
''under the rule ut the stock exchange this
morning: 200 shares of American sugar, 100
Norfolk and Western preferred and $50 cord
age In railway bonds, $1,000 Reading
first preferred incomes. $4,000 Brooklyn
elevated first, 81 600 North Missouri first
8 900 Rome. Watertown and Ogdensburg con-
sol- and $1,000 Tennessee coal and iron frsts,
Tennessee division.
1T MIGHT HAVE BEEN WORSE.
At the Office of MIR. White it was stated
at noon today that his affairs are in
better shape than was thought Yesterday
and that he will resume in few DAYS. The
report that the Havemeyers and others had
offered to put MIR. White on his feet was denied
No offers of outside assistance have been re-
ceived. and it is said none will be needed
Mr.. White said: Il am not badly off at all
If q man is struck bv runaway team he NAV
In my case it is not, in my Judgment going to
be any worse than bad bruise Any man
connected with the business will appreciate
that. borrowing as l millions of dollars
with a drop Of 1913 per share in twenty three
minutes on some of the securities was carry
ing. 1t was perfectly evident that
calls would be made for margins
greater than l could respond to on
| the instant, and it was my duty
under the laws of the stock exchange, to
promptly notify them Of the fact. did it, and
did not know how bad the storm was gong to
be. As it appears this morning things are not
loci inc ut all Tor