New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-15
CALLING IN CERTIFICATES.
THE RETIREMENTS ARE GETTING HEAVY.
THE BANKS CANCEL 100000 AND CALL IN
NEARLY 81 900 900 MORE-SToCKS IRREGU
Ic.r1Nc

LAR UNDER CONFLICTING INFLUENCES
The work of retiring the outstanding clearing
House loan certificates OF the banks Is making falr
progress. Yesterday $4,000 certificates were can
celled. Notices were received TO call in SsS'VN
certificates for cancellation to-day. and one prom-
nent bank president said that the total amount OF
to-day's retirements would be about S,5DOOO. No
change reported in the outstanding amount IN
Boston but the easier financial condition In that
city was reflected in the large proportion OF cash
used instead of certificates in the settlement of
balances at the Boston Clearing House. In this
city the banks have been receiving currency from
the interior all the week. and to-morrow's state
ment is expected TO show an increase OF several
millions In cash. Time money is more easily op-
tanned. and a revival in the mercantile paper
market is reported Rates are said to be lower
The expected reduction in the Bank OF England
discount rate from 5 per cent 10 per cent was
made Yesterday But this action not followed
by any revival Of London's interest in American
securities. There few purchases in the
stock market for London account. but the gem
eral attitude of foreign investors recently has been
against the buying side In fact. 1t is estimated
that London has been a steady seller OF American
stocks The market yesterday was dull ana IT.
regular. The Street gossip ran that the Dull poor
In American Sugar Refining had finished It's mahipu-
lation and the price declined from COS to Ss'sa
ssIs Some brokers contended that the pool had
not been able to unload on the advance ana Tor
that reason il was argued that another upward
twist might be expected. There are numerous
rumors, however that the Havemeyer interests
are seeking TO reduce their holdings in preparation
for the effect of possible adverse action in Con-
gress. The other industrial shares were generally
lower, but General Electric rose IL per cent on
. another squeeze of the bears. In the railway list
Union Pacific a weak feature. railing 10 Zf.
and ending at o. showing net loss of rs per cent
Traders sold the theory that the Death OF FRED
erick L. Ames would prove a severe blow to the
company, and Boston dispatches also foreshadowed
an unfavorable statement OF June net earnings.
Chicago, Milwaukee and st. Paul sold up TO Slst'
but when the dividend declaration was announced
there was a general selling movement, and the
price fell to 6-although it closed at recovery 10
slls The room traders predicted that the future
earnings of the road would not keep ii up to the
dividend basis on account of poor crops and manu-
featuring depression. Elsewhere will be found some
views Of President Miller on the outlook me
other Granger stocks closed trife lower, but
Atchison rose u per cent, notwithstanding IN, tne
report of earnings for the first week OF september
indicating loss of about $4,000 from last year;
Among the specialties Manhattan rose zl2 per cent
on small sales, and. there was further demand
for Richmond Terminal stocks at advancing hs-