New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-26
CHASING PRICES OF BOSTON STOCKS.
WHAT WAS DONE IN STOCKS.

Wednesday, January 25--p. IN.
The stock market was depressed seriously by
a variety Of causes to-day. Fears OF heavy snip
ments of gold at tho end Of the week were not
unfounded, although rates OF exchange on DOM
London and the Continent were unchanged AT
rangcments for the export OF over S2,ooo,ooo
we're made and as the next specie ships VIII noo
sail before Saturday the early engagements
pointed to much larger shipments. The selling OF
stocks, however, was rot for European account
On the contrary, the opening was affected plainly
by the strength of the London market and by
very considerable purchases apparently for foreign
account. II is possible, Of course. that the adj
vance in London was directed from New-iork
and the subsequent course of prices tended strongly
TO support this view. The bear faction has
been known at times to cXpend much force IN
influencing the morning dealings by way OF
London, and there be no logical reason WHY
its opponents should not occasionally employ
similar tactics On this theory the strength OF
the stocks which have an international market
was not surprising because the prlncipai uecnnTj;
excepting those in a few specIaltles, occurred
after the London market was closed. II is I'm.
possible to forctel the effect which they VIII
produce abroad but the purchases here ,o- asy
the arbtrage completed.
The continued weakness OF industrial ana
special stocks exerted an adverse not to say bale
full Influence American Sugar Refining wrested
the leadership of the market from Dlstilling ana
Cattle Feeding. although it failed to srpass that
prices were the highest for the day, and they also
were 1-2a5-s per cent above the closing hgures
Yesterday. Sugar Refining fell 5 per cent, but IN
the final dealings rallied sharply and its loss
was only l-2 per cent. Distlling fell 3 l.:
per cent, but recovered sluggishly and closed
with loss of IA per cent: For the movement
in both there apparently no other than
purely speculative reasons. 1t may not even De
cdnjectured that the recent fall in Distiliing
may have had something to do with the decline
III Reducing , Philadelphia and Reading TO full
shares. other stock approached in activity the
two leaders Early in the day Heading adv snn
showed loss Of per cent Next in point Of
much Chicago Cas- which in spite of rally
Of nearly per cent, lost ] IS per cent, and
Union Pacific which WAS eMce a1 in S'r0nG
other stock, aside from flose mentioned. did the
transactions reach 10000 shares, and yet the
total business amounted to nearly $40, 900 shares.
Besides Union Pacific. Northwestern and Lacka-
wanna made small gains, while the declines IN
Erie. Rock Island and Louisville and Nashville
great strength. The closing was at a general
rally.
TIE DAY IN TIE BOND MARKET.
Small sales Of coupon As at IA gave strength
10 the Government bond market Bids for both
classes of IS were raised Ia per cent. The final
quotations were as follows:
Bd.Askcd Bd.Assed
q. & Airs 1891 col. U.S.cur.Cs 1928 Jos
tinucd at . per U.scur. Gs, ls06. .Io5a
Cent reyi,.Ion go. q .Scur.6s, 1887 40
U.s4s1oo1 rcg1lS,+ 1l4s y 5 enrGs 1888 II:s 49,;
Dis Cots -O5. Is0i.1i34 &C..
The only business in State ISSUES was a sale
of Alabama. class b. at IO4 -. " city bank
stocks Mechanics sold II g. AT 81. Small sales
at auction are reported in another column.
The general bond market was a little more
active, reported transactions amounting TO abont
81 100000. In sympathy with the depression IN
shares the market was lower hut the final de-
clinrs not important. Chicago and Northern
Pacific irsts at &c "a lost 3-S per cent while
Northern Pacific consOl - fell IA per cent 10
20. Philadelphia and Reading issues remained
quiet, although second and third incomes were
moderately active at dropping prices Seconds
cent, and thirds fell to 6la6l IA, final decline
of So per cent. Texas Pacific iirsts declined lo
per cent 10 so. and few other issues met with
about the same loss On the other hand. New
York and Northern seconds further advanced IL
per cent TO So and Louisville. st. Louis and
Texas irsts rose IA per cent 10 aS ~. Refer
cnco Is made 10 our full report Of bond sales.
Money on call in excessive sapply at
and > IL, and few loans were made even at
| l-2 per cent. Probably the greater part OF the
new business was done at . per cent
The Clearing House statement was as follows: |
Exchanges, Sl44, OF, 0J2; balances. S5.77t,S?5.
The Sub-Treasury debtor 10 the Clearing |
SOL 9.a6?. made up by gains OF S4l :974 in coin |
and S477,3ss in currency: The days operations |
included Receipts. S5,4se,47s; payments
S2.070.IIS: resulting in a general balance OF
SI05.136.2lI. consisting Of so4,i42,l09 coin and
The Treasury bought $4,000 ounces of silver |