New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-14

WHAT WAS DONE IN STOCKS.


Tie downward movement in the stock Marker
was continued, but in most sluggish IashiJn.
The total transactions amounted to only l65,06j,
against 2l2,122 shares yesterday. In 81 fanS
which maintained the leadership, the comparison
WAS even more unfavorablc because on sales OF
oss than $4,000 shares il finally lost jo per cent,
AGAINST decline of "a per cent yesterday on %
business exceeding 5000 shares. In the same
category were Chicago. Gas, Sugar Refining ana
General Electric, which were much less active tiah
they yesterday, but not apprecap~ ic's
weak. II may be permitted 10 urge that the
decline brought duness If il had not been that
the stocks which were relatively more active than
they were yesterday had not suffered similar
losses The transactions in Atchison, for instance,
were materially larger, but in spite OF final rally
Of l-2 per cent it lost nearly as much as II dlu
Yesterday Ii mmaterlal, Therefore, whether
stocks were less more active, and whether thcy
We're industrial shares or avorites of other mar
kets they declined sull'nly out steadily. There
could be no clearer proof, perhaps, that the riss
al the end of last week was purely a speculative
movement The short interest having been forced
to cover it was perceived that there were no other
eager buyers, and that, in fact advantage had
been taken of the advance TO market 10 stu
greater extent previous holdings.
IL was plain from the last statement Of tho
assc cated hanls that if shipments of currency 10
the interior should he continued, or exports or
gold resumed. there must De sharp contraction
of loans in this market. The Western demand
for money has MT been relaxed, but III some
places has become more acute. Bank failures IN
the Nest and South have not ceased and they
are followed inevitably by mercantile disasters.
There are no indication, that the outward move
nent Of gold will lie resumed, but rates
Tor forecn exchange ar firm, although m rchants
have been obliged 10 postpone rcnlttan@cs De
cau>,. they could not readily obtain funds with
which to purchase drafts. One effect OF tho
monetary siringency may b6 felt in the decrease
in merchandise imports. but the other hand, ca
ports OF lnerchandsr have not been greatly stinu-
lated by lower prices for gram. The ship
merits Of mel hlndisc from this port
last week were about 100000 less than in the
preceding week, and ne'rly S2,oOO,00o less than
In the same week last Year IL Will be a long
time az this rate, before the adverse trade bali
ance against this country will be corrected. IL
is happy circumstance, however, that money in
London remains extremely easy. even II II Is
still reluctant TO seek American Investments.
The fornghty settlement at the London Stock
20 be completed without serious trouble. More
over, the recommendation OF the llerschell Com:
mission that the minis of India should he closed
TO private coinage of silver must be considered
a fresh argument in favor of the repeal OF the
present silver law OF this country.
The closing at slight rally from the
lowest points, but il tame and spirltless.
TIE DAY IN THE BOND MARKET.
There were no transactions in Government bonds
at the Stock Exchange, and the market was some,
What ire gular Asked prices for reg>tered
As were raised 10 Ill, while Tor coupon Is they
were lowered IL per cent 10 Ill IL. Final
quotations Were as follows: