New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-20
STOCKS FLUCTUATE WIDELY.
A PARTIAL RECOVERY FROM TUESDAYS
EXTREME DEPRESSION.
BETTER REPORTS FROM LONDoN-NoRThEhN
pACIsIC RUMoRs-CLosING MILLS EXCITE


PACIsIC RUMoRS-CLosING MILLS EXCITE
soLICITUDE AMONG BANKS.
The AVAIL Street markets less dcmoralized
Yesterday although the sentiment was SUI uhSe'eu
end there were wide and irregular variations IN
prices Brokers were encouraged by better news
from London the absence OF failures here after so
severe a shaking down values received on Tues
day. and by the development OF some power OF IT,
sis,snce I'm the speculation. All OF the losses OF tues
day were by TO means recovered several new weak
spots being uncovered. bnt majority OF lealihS
stocks established themselves on better basis Ut
the close.
Cable advlces from London Indicated paruai
clearing of the foreign atmosphere. No new rumoIS
of trouble were started and 1t was explained mat
two firms which had been talked about had dismissed
partners who had become involved in unfortunate
speculations. and had assumed the liabilities OF inc
een Nothing further was learned respecting the
big concern whose name rumor was busy WIN OH
the previous day. but II evident from the rally
In the London market that the pressure OF hqnl!a
II n had been removed The more settled lcchnS
abroad was reflected In somewhat easier rates 1oE
foreign exchange here.
The monetary situation was without change. Gail
loans at the stock Exchange were about pr cent
and the time money market is nearly at stand De-
cause borrowers have realized that funds are viz
tuary unlendablc The United States Assay Once
received 1915, 200 sou,i, merican gold. which ar
rived consignment Ia NE Western National lahh
IIostier. Wood co. received advices of a shipment
Of 1925 900 gold on the steamer Teutonic, sailing
from Liverpool yesterday and the same vessel car
ries small LOT consigned 10 the Hanover National
Bank. The sub Treasury continues 10 make the
bulk Of it's payments in yellow coin to the clearing
House, $2JOOO0 gold being included in the payment
OF its 1919 900 debit balance yesterday small DIS
In exchange for large currency and gold certificates
were given T. The amount Of S250.0O0 practically
all of the money being intended for shipment TO
the Interior The current OF funds has turned against
this city, owing TO the development OF new banking
troubles at the West. some nearby banks are send
ing cash here but the movement whole is taking
money out Of the city.
The additional failures OF banks in Denver were
something OF surprise. because Tuesdays late ad-
vic.s reassuring The New York correspondents
OF these banks debtors IT. Louis has begun to
coll for funds owing to the assistance it has given
to Kansas City Some bankers were advised that
chicago at last being compelled to give up part
Of its closely boarded cash. As usual however the
eoun nv is again turning u York for assistance.
and nearly all the domestic exchanges rule against
this centre BANKERS do not like the news from New
England OF the closing oi the great An~keag cotton
mills and the threatened closing OF others. The idle
ness Of thousands o! laborcrs may force the with
drawal Of savings bank deposits, and such move
ment may not be checked where necessity exists In
the way that foolish alarm of depositors may be
Quefed. II j. in this phase OF the situation that the
unfortunate effects Of tariff uncertainty are shown
"Pnnc' has been taken out OF the situation every
where. but the shrinking Of production and the ccss-
ton of business activity work out unhappy results
which may not he avoided. feature OF the situation
that is regretted Is the increasing number of railroad
which make miavorable comparison with last
years figures rejecting the effect OF decreasing pros
pciity which the felr OF industrial revolution is work
ing irrespective OF the silver Purchase law.
The stock market yesterday enjoyed about tie
same degree of activity that was noted on Tuesday
Tu, the opening higher under the more favorable
advcesffrom London and the shorts were eager
BUYERS American sugar Refining opened up IL
per cent night at ~; General Electric opened
ella per cent higher at 50; Chicago Gas = per
higher at So 1-o 81. Paul 30 per cent higher at
IS; Rock Island Ia at 81 Louisville and Nash,ill"
o at SO; Chicago and Northwestern = "a at 96 Lake
shore / 3S at ia IL; Ncw-lOrk Central Il at
oG1- and other stocks liza per cent higher. Then
The bears made determined raid. which effected
sharp declines, In numerous instances prices selling
down below tuesdays closing quotations. But the
market showed resistance TO the pressure which
caused a later rebound and in the final dealings de-
cided' irreeufariy shown.
few Instances will vndicatc the crritic and merry
OF the speculation. Il. Paul: the leading
stock, went from % at the opening TO %, rallied =,
ended al o5 3-s net gain Of per cent. Chicago
burlington and Quincy fell from - - to 30 o.,
net gain OF 5-s per cent. Louisville and Nashville
fell from SO TO 81 "a, then jumped to "a u and
closed 2 81 per cent higher AT % 81: Lake shore
huctnated between ia ID and 1l3 rs. closing AT
ia IA. net gain of over per cent and New York
Central. after selling from 30 j.. to 30 L. rose to
97ao6 "a. Western Union fell fI0m 76 IL TO "a -
and rose TO 10 7-sa 20 is. net gain OF only Ia per
cent, Missouri Pacific. after sales at 20 30 rose 10
"a 14a26 5-s against 20 Is TUESDAY night
The "bearss found a weah spot In Disabling ana
Cattle Feeding, which opened IL per cent lower Mt
81 12, fell 10 IL IS and rallied only 5s per cent
Chicago, Rock Island and Pacific pressed By
realizing sales apd declined from G3 t. 80 81 closing
at SO ia, against 60 3-9 Tuesday. American
Sugar Refining went from ~ u "a. bnt closed at
20 Ia. Chicago Gas dropped from 81 liza 81 10 81,