The evening world., 1893-10-30
STOCKS ON A LOWER RANGE.
Bulls Regard This Merely as a
Healthy Reaction.
Heavy Sales in Eric Cossols on
Rumors Of Passed Interest.

With the prospects favorable for an
immediate repeal OF the Sherman Silver
law by the Senate, the bulls entered
into speculation with unwonted spirit
this morning.
The dealings were larger than ever.
and n buoyant tone prevailed.
The enormous increase in the bank re-
serves last week, insuring a continuance
of ease In the money market, was not
without its influence.
A drop in the price OF bar silver in
shows the feeling at that centre In re-
gard to the probable fate of the sher-
man law.
Lazard Freres have been advised OF
an additional, shipment of 100000 gold
on the steamer saIilng from Southampton
tomorrow.
Shorts covered freely, but at the same
time the leading bears regarded the rise
as altogether too rapid. and put out ad-
d%itional lines in the grangers and other
stocks.
Sugar sold at the hest figures yet at
tained. Notwithstanding a reduction in
the price of refined.
Delaware & Hudson rose / IS to 1871 7-s.
Distillcrs ! IA to IS IA. Louisville, New
Albany & Chicago preferred 2 to ~ rs,
Manhattan "a to 1884. American Sugar
80 to los l-2, Big Four IL to 3s Ia. Rock
Island "a to 70 10, st. Paul 1-2 to 6S "a,
Iacka wanna "a to III and Louisville &
Nashville "a to So.
Later there was a reaction of IA to
] 1-2 per cent.
silver certificates here were offered at
GO l-2, seller 60. The last previous quota
ton was IL a 70 1-2.
owing to continued realizations and
sales for the short account during the
later trading. stocks ruled on a lower
range. The decline from the highest
figures Of the morning was IL a . IL
per cent, the latter In L.ackawana and
Manhattan.
The bulls were by no means alarmed,
and progressed 70 regard the decline as
a healthy reaction The market stood
sidered, more particularly as Londor
was a seller.
The sub-Treasury had a debit bal.
ance at the clearinghouse to-day OF
s5l7 1874, which was l%iquidated in gold.
The Clearing, louise Loan Committee
standing, $500 Tomorrow $40 c
will be cancelled.
Money lent at l IL a 2 per cent or
call.
Foreign exchange was steady at 4.sn L.
n 4.S0 "a for bankers 6O-day sterling
; bills; 4.S3 a 4S3 1-2 for sight, and 40 a
, 479l-2 for commercial. These figures
are a little above the gold importinl
) point, but an influx of the yellow meta
2 is looked for shortly, as the exports o.
? general merchandise continue heavy
and the consumption Of foreign goods is
: The steamship City of Washington
, from Havana. brought this morning
! Sl9l. S55 Spanish gold coin to Lawrence
T, Turnure & Co.
/ There were enormous sales OF Fri,
consol eds rom Il down to 81 regular
! and from OLE down to &c seller GO
!, The stock was also heavy, dropping 1 g.
7 to "A.
!. The decline was due to reports tina
! the directors had decided to pass tn,
: interest on the first lien mortgage o
s.. 500, 900 Nov. 1.
The Importance OF this action is II
= the fact that these bonds were practi
c cally a part Of the second mortgag,
:. bonds. and were a first lien ahead Of tn,
, bulk of the seconds.
! This default means that interest q,
: Erie seconds. S33, 597, 400, will be passed
: Dec. /. In addition to this the interes
on funded coupon bonds. $4,000, 900. com,
= due Dec. l.