New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-01
CLOSING PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Thursday, August 3l-p. N.
The course Of prices at the Stock Exchange to-
day proved the impotence Of professional traders
who occasionally control the market. II Is easy
to raise prices Of industrial anil special stocks; II
is another and moIc difficult task 10 sell III" ac-
cumnlati0ns without seriOus loss Around 50
the Uavemevcrs were said Yesterday to be large
luycrs Of sugar Refining and somewhere above
% Distilling and Cattle Feeding was in apparent
demand in the expectation that dividends might
soon he resumed General Electric was almost as
strong at 80 as il was al more than par. and NJ
80 inside interests were said to be supporting the
stock The total business in stocks was al
$50 shares and Of this amount Dis'ilne con-
tribntcd 1000 Sugar Refining $3.50 and
General Electric 1855 shares. In other words,
more than onc-half of the total business was in
three stocks about which nothing is known by
the general public. The dealings in these stocks
have entacd large losses to innocent investors and
the machinery Of tin. Stock Exchange has been
used for the mere purpose of attracting victims.
II is shame that robbciies may he committed
within the rules Of the Stock Exchange,
4 speculation which depends simply on the
Whims of two or three spcculatUio must ma
uraily be unccrt lin II there should be any ds-
agreement between Tom, Dic, larry There
might be something ILL.,. cllaos in their ventures
To-day there were no reasons ion ucciinr III
prices because conditions were opposed 10 sucii
a movement Money was slcr and the premium
on currency had disappeared. Receipt, oil cur
rency from the country more than offset ship
ments and, while the Bink of England did nov
reduce It's official rate Of discount open market
rates for money in London were lower, ana , rh'''
for European exchange were barely stead T. Their.
was in fact. every reason for an ADJ hnc" 81
prices In stocks. but the indiscfeticn Of few
operators iwhO attempted 10 anticipate I'll" iui
nrovcd conditions caused general declines. ASIDE
IRON the active industrial shares, III" declines
were small. and on an average not above
per cent. The closing wa inclined TO be weak
and generally last prices were tile lowest.
TIE DAY IN TIE BOND MARKET
There were no transactions in Government bonds
practically unchanged at the closing quotations :
Bid Asked Bid.Asksd
US. tss. fss ' g; sss1$: 1922 "a
+: ss5 81. H. i: 1853
Tx interest.
State issues continue to De neglected. and thc
ONLY sale of city banks stocks was Western
National nsJ at lO5, q decline from the previous
sale OF per cent. - $500,
regular The reported transactions were $l,jiO,-
900 at face value, against ~ 100000 Yesterday :
There was said to be in'elsgent buylng OF
bonds. but in that case buyers must have inior-
nation of high grade The declines in Atkinson
and Northern Pacific issues were generally 1rac-
tional, but Philadelphia and Reading incomes
Among special issues Fort Worth and Denver
City hrsts rose 3 per cent anu Louisvllie, Now
Albany and Chicago cOnsols per crn' reference
is made to our full report OF bonds sales.
Money on call ruled at per cent: Renewals
were made mt 4 pr cert ana cary som. NEW
business was don" at TIN, same rate, bnt new
loans were negotiated easily ut the lower iisnfe
The Clearing House statement was al follows ::
Exchanges, 1851 24,46s; balances, $3,d7Ss6sS:
The Sub Treasury was debtor 10 the Clearing
House $5s,5O4 Its net los ON balance was
$3.50. $50. made mp by losses of Sl36,O'o IN coih
and S3l4,6l4 in currency ,.o
The days OPERATION covered Receipts, Si,ooo'-
J3S: payments, ~ ,sl9.22i resulting in gen
eIal balance of S5s, 1861 1925; consisting OF $ol,-
20l 1913 coin and S7,660.447 currency
ccived Today Sss, $50 National bank notes Tor
redemption
Tie customs receipts were e126,097, the internal
revenue receipts Sl.5249, and the miscellaneous
receipts Sj4i0g.
To-dsy's Washington Treasury statement Of
cash on hand and deposits in bank compares WIN
the figures Of the last previous statement as io-
lows.
cold on s91 750 81 10000 Dee slr35lO
on hsnd ~ IaGiO7J lii5o7lo Dec I'Ooii
Vt N, or on ha,i .9l5TJ7 3.05ij0D Inc. 1ic 1913
Actual cash in tn
TI,asnss sanl.-
over outstanding .
certificates sIli so2 1ss sIii Gi3 10 Dec sls9ojS
De- IN ban I:.U.959s l. 323 40 Inc. 2i2.j
Net cash bal sis7 asl $50 1927 5S5 55S s5573
The foreign exchanges steady without
other feature. The market was affected by lower
rates Tor money in London. bnf on Continental
points rates were higher in consequence prin-
cipaliy Of an advance in sterling exchange AZ
Paris. Following are revised quotations fof
actual business Bankers bills, 81 soaSi 50 IL
and - Sc for long and short sterling respective