New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-18

WHAT WAS DONE in STOCKS.

The stock market according 10 populir opHl-
ion in Wall Street to-day declared Its indie
| pendence of English rule The opening was
active and materially lower because London prices
| were lower. and something resembling a pane
was reported from that market. While first
prices of stocks which have international
| market were from II TO ! per cent lower, II
| must be- noted that still larger losses were sus-
| tanned at the opening by stocks which are known
| abroad only by reputation. II was pure sym
| pathy, probably, which made the opening de
clines in Louisville and Nashville and Manhattan
| Railway, and those in st. Paul and western
| Union Telegraph, about equal. The hrSt oe
| clines in Disting National Cordagc ana some
| other industrial shares were as large as those
in Erie. New-Yorl Central, Northern Pacific pre-
ferred Atchison and Philadelphia and Reading
In every instance. however, there was a prompt
recovery, hut after this rise the market pccaihc
dull and at times dropping. In the last ho"i
fresh rally was started, and the closing was
nearly buoyant at generally the best prices 'o'
the day. ....o
Although il was by no means the mosto do''''
stock Northern Pacific preferred was the con-
sniouo,s feature of the market. 1t may not bc
| complimentary to the chairman Of that company
hut the rumor Of his resignation apparently hao
moro influence on the price OF the stock thaA 'he
report that plan for the funding OF III" 'io"'"s
| debt had been arranged. Both rumors were some
what premature, but subscriptions Tor one-1our'h
NJ the proposed issue of $l?,G00,06o collateral
,rust notes were announced, and it was intlmated
by friends Of the management that, II me schcnJ
should be successful, the chairman oil Tue O0aIu
~ directors would be willing 10 retire from Once"
Northern Pacific preferred scored maj gam oi
Ia per cent and the bonds oil the company M
recently have been much depressed. made similar
recovery An advance OF neatly per "io vas
recorded by National Cordage on energetic puyins
attributed to prominent specua!So' iust before
| the share capital was doubled lhcrc was u"
| authentic news about the condition of the com,
pany beyond the statement that It's acts cNc,Fiea
its liabilities by some millions, an that there
could he necessity for An issue OF o9nas. Ln
cnpting st. Paul, which maintained tlc leadership.
the industrial stocks were the most active. LUZ
trading was largely professional.
THE DAY IN TIE BOND MARKET.
A sale of $500 registered As at ne So was
sufficient TO produce an advance OF ia per cent
asked prices for both classes Of this issue Othcr
wise final quotations were unchanged as follows;
BidAskedi d,Asked.
U. 4ss 1891, T.s sSGs 1s,iSi, "
tinued at per 'Scuroh iS,e In 80
+: s;s; g: 1895
There were no transactions in State bonds:
OF CITY bank stocks Ncw-York sold l5l at
go and Seabodrd u0) at 176. The sales OF the
Iast,namcd stock at il3 "a and ll2, which were
reported yesterday. should have been southern err,
y
official reporters of the Stock Exchange 1870
There was further shrnkase, in the volume i
of business in The general bona market soaR '
reported transactions amounted TO only S035,-
600, at par value. In spite OF the dulhess: OF
PERHAPS in consequence of 1t, the movement o.
prices vas universally toward hlghci lc.tl
The prcmincnt feature Of the market was the
active advance in Northern Pacific issues on
rumors that plans for funding the floating debt
had been completed: lineage ana Nor rthern
Pacific consol IS closed S IL per cent hl2her az
&C. but the last transactions were In single bonds
Gains of from to over Per cent oV wGro hics
closed at AZ l-e. and Texas anu racine seconds
at 20 Reference is made to our full report OF
bond sales. ,o.s. , .o
highest rate was l-2 per cent. The most of the
new business was at per cent
The Clearing House statement was as follows:
Exchanges. SIl5,ss5,6Gl: balances, S3,9i6,556.
The Sul-Ireasury was debtor to the Clearing
House 81 OA0.isO. Its net loss on balance was
SSa.V1V' a ar0 of s2s2.o3I in currency The
dnv's onerations included: Receipts, $3,s.O,?j3
Payments, s4lGl,e3s; resulting in "a general
talance Of $500; 80, consisting oil So''o'o'o4'
The Treasury bought 100000 ounces Of silver
hulion at s2.Ds and SO cents an an, ounce he
ofnrinrs were $4,000 ounces. The Mercantile
safe deposit Company, OF this city, reported
liver bullion on hand against which certificates
ra outstanding at 26D,121 ounces:
are Th. United States Treasury at Washington re-
oo;rnd today Sal5,2i4 National bank notes for
redemption. ,... ,.oro oc,2es, Oh. in
.nai revenue receipts $S0G,297, and the mis-
'eiTindow Washington Treasury statement of cash
-, hand and deposits in banks compares with the
on nur"s Of the last previous statement follows
,,nss,o Nay s sc G:s G;s Inc Da saio
Net cgaltenders 10 ~, 400 Il O4i Ord Dec Oss 2o4
OH hand; "a lS2 .oy 1866 302 Iuc IA GA
Net silver on ma oooo,'- - ~
Actual cash in the
raut%
over dlnr on, .o1 slo= 500 1O3 Inc sso179
certificates ;9i- 100 20 II O19 sSj Dec 1886
Deposits In bank. ,I,o- -.
49, AGO ,o1 90 81 80. 5735s0 Inc. s72.3I3
M W" foreign exchanges were firm, although
,, Inc omccssions in demand drafts and cable
e1Gp T s made sews Spm sn%
sliUoo" es,o on remains as to the amount that