New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-27
AN ORDER TO IMPORT GOLD.
THE AMOUNT ONLY 100000 BASED ON
WEDNESDAYS EXCHANGES.
STERLING; RATES NOW ABOVE TIE IMPORTING
PoINT-sToCKs STILL BOOMING But SOME
REACTIONS OCCUR-GENER>L ELEC'


REACTIONS OCCUR-GENEK,L EIEC'
TRIc's DIVIDEND PASSED.
In the morning hours yesterday the stock specu-
lation ran along in buoyant grooves, lhspired ps
the assurance of an early vote on the SILVER ne
peal bill The traders were in the height OF Dull
spirits and some brokers hailed the repeal 'as
the most important piece Of financial ieslsiauoh
since the resumption of specie payments. orders
from the country to buy stocks came pouring
in inspired by the sanguine advices OF many
brokerage houses. and the market reacheo u'e
highest points yet attained on the weeks DOOM
In the early afternoon. however. the effect OF
foreign selling and local reazations was renec'eo
IN a general and in some instances sharp reac-
tion but in the final dealings values again rallied
II was announced that 100000 gold had Deen
ordered by I.azard Freres to be shipped from Lon
don 1t Is said that the steamer l.ucania VIII
bring the precious metal over 1t was explained
however. that the engagement was maue y"
Wednesdays rates Of sterling exchange lot yes
terday the exchange market rallied snartly' going
above the god-importing figure. some ioie'sn
bankers declared that they could not uhuers'a"u
how the gold could be imported even al "e'ie
DAVIS rates on that day sterling sight drai's
did not fall below 81 81. except for rev speciai
transactions at 81 s2a.. Close calculations OIL o'e
cost OF importing gold fix the rate OF exchange AZ
81 $685. before the cost can be covered ieh'ihs
out of consideration any proht TO 'ne ii"po',ei
or commission to the foreign agent securing "'e
gold The rise in exchange yesterday was ''aceu
10 recent sales of American securities TOT Lohooh
account. The discount rate In the open ino''eS
market of London has advanced to 2i2pzrs per
cent and there are indications that the Danh VI
England is seeking to obstruet movement VI TIC
yellow metal to this side
The Clearing House Loan Committee yesterday
cancelled s26oOoO certificates. leaving the amount
outstanding al 81 5000 Certificates 10 the amount
al
matches from Pitsburg reported that the outstand-
ing certificates In that city had been reduced 10
s2S7 600 favorable item which came out almost
too late to affect speculation was the statement Vi
the September earnings Of the Chicago Milwaukee
and st. Paul This showed gain in net earnings
of s,Gs7 as compared with last year although TINS
represented the excess Of the reduction IN opefa'hs
e. pcnsos over the decrease in gross receipts; .
vine ont ali the previous reactions Stocks show
ing net losses were more numerous IMAM tnose
was Chicago Gas. which was the most active stock
The price opened at S rose TO or fe 10 o. r os
from 3slsassis to S5anS5i. new mystery rumors.
Western Union Telegraph rose IA. per cent 10 W
up to s. closing at 90 against is "Wednesday night
The directors Yesterday formally decided to pass
Generally gen known in Wall Street: but 1t has long
been expected owing to the condition oi .ne h con-
be- made formally to-day National Cordage com
mon advanced sharply on rumors that 'nS tcr,n an
encouraging exhibit. ,.,
American Sugar Refining stock was heavy
through the day on reports OF inside real5ne
seies The price declined from 0S5s to lOli+. and at
a rally to l02ls showed net loss of ~ per cent
Reactions OF nearly per cent occurred IN LAKE
shore and Delaware and Hudson. Among the
ca angers Chicago Burlington and Quincy sold frem
s. to s4s.Qs1. Rock Island from nas TO os'sm
Paul from s5 to ssscSs and A Cbicsso
and ST Louis receded from 3Si. to S6%G3Ii. Louis
vile and Nashville from 40 to 4tgd northern from
2sA to A7sG22l4 and Union Pacific, from 1875 to