Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-06-15
IN WALL STREET TO-DAY.
Spectators Awaiting Action of the Clearing
House Regarding Certificates.


House Regarding Certificates.
Nxw YORK, June 15.-Operators in stocks ac-
copied the report that the clearing house banks
would issue clearing house certificates with
commendable calmness this morning The
variations in prices were slight and about
evenly distributed on the up and down tack
Sugar broke y to So on the strike at the Have
meyer refinery.
The stock market drffted to dullness after
the opening. The changes in prices during
the first hour Of business did not exceed /
per cent, except in rare instances. Sugar made
. further fractional decline, selling down
to $50. but subsequently recovered to
o6A. National starch common was bid and 8
asked. while the Ter cent bonds dropped 21S
per cent to 30. Holders of the second preferred
have been officially notified Of the suspension
of dividend payments.
st. Paul fell / to $50, Manhattan to 1871,
Omaha to 80 and Wheeling and Lake Erie 1as4
to IL The preferred brought 47a4s1& against
52L. the last previously reported sale The
other prominent stocks we're dull, the changes
ranging from to y per cent Operators were
waiting for something official from the clearing
house in regard to the alleged proposed issue Of
certificates.
Pending something Of definite character,
there was little disposition to trade. The re-
duction in the Bank of England rate, which or
dinarily would have had q favorable effect on
stocks, e1erted no influence whatever. The re-
duction in the rate to % per cent weakened
down to 4s51{ aud 4s71@. At IL am. the mar
ket was dull and inclined to weakness. Money
on call opened at Z per cent.
Money on call is stringent at 7a2O per cent
Prime mercantile paper. Gas per cent. Ster-
ling exchange Is weak. with actual business in
bankers bills at 4s41%a4s5 for sixty days and
4S6a4661S for demand; posted rates. 1885, 5a4811S
commercial bills. 4S3a4S51S. The clearing house
statement for today is follows: Exchanges,
es7, T4s, Pas; balances, IS, IFS, 134.
The subtreasury was debtor at the clearing
house today s7S6, los. Bar silver, S3A Gov
eminent bonds have been weak. State bonds
have been dull Railroad bonds have been
heavy. The market rallied to u per cent
after IL O'Clock. but subsequently, lost part of
the improvement Atchison continues particu-
The stock sold down to 2214. National starch.
common, sold at ~, while the second pre-
ferred rose to 81
At noon the market was dull and steady
CLEARING HOUSE CERTIFICATES AUTHORIZED.
The Clearing House Association this after
noon adopted the following resolutions:
Resolved, that q committee Of five be ap-
pointed by the chairman. with the
president, to receive from the banks members
Of the association bills receivable and other Sc
curities to be approved by said committee, who
shall be authorized to issue therefor such
deposit in banks, loan certificates bearing six
per cent interest per annum. and such loan GER
tidcates shall not be in excess of seventy-five
per cent OF the market value Of the securities
or bills receivable SO deposited, and such GER
ti6cstes shall be received and paid in settle
ment of balances at clearing house. and all the
rules and regulations heretofore adopted in the
issue Of such gold certificates shall be in force
In the present issue"
No clearing house certificates have vet been
applied for. The loan committee of the asso-
citation. of which President Frederick D. Tap
pen Of the Galatine National Bank is chairman,
will meet tomorrow to receive applications.
The certificates will be supplied in denomina-
lions Of IS, 900. s10 900 and $50, 900.