New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-04
CLOSING PRICES OF pmILApELrnIA STOCKS.
WHAT WAS DONE IN STOCKS.

Thursday, August 3-p IN.
In view Of the abrupt rise in prices yesterday
it was only natural that the stock market should
| suffer reaction to-day. In the circumstances il
was surprising that the recessiOns were not
larger. 1t perfectly plain that the move
| ment yesterday was a bear panic, and that con-
sequently the closing of short contracts had re-
moved a valuable support. II was equally evil
| dent that mportatons of gold would be checked
| by the advance in the Bank of England rate of
discount, and in the price Of exchange on Europe
In this country financial conditions not
| changed, bat imports of gold aroused
hopes of immediate relief. The continual ennis
| sion of loan certificates by the Clearing House
was borne with forttudc because it believed
| that in part, il due TO strong efforts t. at
| tract the precious metal. To what extent loan
certificates have been taken out for this purpose
| is not known. If largely, the movement has
not been wholly successful, because it appears 10
| have been ncutral2cd by trade conditions, and
| the imports of gold. like those i'm
mediatey after the BaiIne failure, may be nothing
| more than a call loan. II the issue of Clearing
| House certificates has not been designed recently
TO help the importation of gold i. must intricate
u more serious nee ssitv THAI hal been supposed
| 10 exist among the city banks. one horn OF
| the dilemma is almost 40 uncumi ortIiir - I :"
| ether The inward movement OF gOl must ID
natural if il is Z, restore confidence in meic1ni'
and financial circles. bat the action IF til 5anl;
| of ENGLAND suggests opposition which. ~
| any event, Will prevent the movement bee Ilnns
extensive. The receipt Of over Slo.ooo,c"o ~
will be welcomed, however. and lerliap- II VIII be-
| sufficient - allay the prevalent distru-t.
| The declines in the a tive stocks rarely reached
| per cent, and in the general list they w'r' MT
more than pa? per cent. Naturally III" stock.
! that made the largest advances yesterday ~
inclined as a rule. 10 be- the weakest to-day. ih"
| rule not without its exceptions, and stran-'-
| ~ these were furnished by Chicago Gas and zen
! eral Electric. The extreme fluctuations III bpth
sto kS were wide. bat their final changes were
unimportant, and, in fact. General Electric closed
AZ the last price of Yesterday. While final
prices were not the lowest the closing was with
ont shirt. and in few instances without great
confidence.
TIE DAY IN THE BOND MARKET
There was an active inqniry for Goycrnmcn'
large were al los AMI los IL. In consequence
| of this strength bid prices were raised about !
per cent for both classes 81 A., aud also for H."
| currency 6s. Final quotations wer" a. follows:
s 4,. 1891 Hd'A'N'd cur 9. ,so, Ics ''",'
| Continued at .scmrG 9 -" , 700
Dis Dis Col ;sSi i liz W.
| The business in State ISSUES was limited 10
small sales of Tennessee settlement - AT "a and
| small al 81 IA. OF city bank stocks lrld'S-
mems sold t25 at 100, and Western National III
| at 90.
The general bond market was somewhat less
| active reported transactions being less than 81
/ 100000 at par value. Erie second c0nto' opened
| at &C, and nj 81 closed with gain Of l.? per
| cent Atchison issues wer, irregular. General Is
rising "a per cent 10 Il 3d. while \ second,
| declined "a per cent 10 "a. Chicago ana
Northern Pacific lirs's were dan. but J.? per
| cent better at "a, and Northern Pach" consol
| IS closed unchanged AT A. II, after early sales
| at "A 5-S. Many issues not usually active mad"
further gains s. of from to aaG GAGcpU"as
were dull, but higher at -, although single
bonds sold as low 20. Reference is made 10
our full report Of bond sales
| COLL ,olt ~ "a
4 per cent Renewals were al ! and 6 per cent,
but no new business was done at those rates.
In the last hour balances were loaned at ,
per cent.
The Clearing House statement was a. follows:
Exchanges. S9l ,5ls,7Oo; balances. =, ,e93, 4os
The Sub-lrcasury was debtor 10 the Clearing
House S273,I0o. Its net loss balance
$2,Ols,C44, made mp by losses OF S30g'9oG IN
coin, and S1,70s,1@S i'll currency. The day.
operations covered: Receipts, Sl,933.0lj; pay
ments, S3,952,5J9 resulting in general balance
of S72,510, jO2 consisting Of SG:,49Gssj coin
and S1o,Os2,Gl7 currency.
The United States Treasury at Washington re-
ceived today SlO0.3S7 National bank notes for
The customs receipts were $500, 900, the internal
revenue receipts Sl32,4G1, and the miscellaneous
To,day's Washington Treasury statement OF
cash on hand and deposits in banks compares
with the figures Of the last previous statement as
follows
hand 90, A s Gs, s,oo AZ 30 Inc DTc1seG az
M 's s5Ss ss D Dcc sssss
Actual cash IN the
Treasury vaults
cetacates si2o O5s 2lI s23 oo .s44 Inc. soi3 G33
peposits i'm bank. sri sos n.sd3 os2 Dec. 1886
Net cab bal si33 $50 100 1874 364 o!G Inc. sjS47'7
The foreign exchanges wer" quiet, but strong
and higher Although it an of day the
dnm,nd for sight bills and cable transfers
fairly active and rates for sterling rose nearly
| cent to the &. The advance in long sterling
bills was smaller in direct consequence OF the
rise in the rate OF discount in London. Following
are revs quotations for actual business: Bank"rs
hills "a s0aS4 so IL and 81 SO 3-4aS4 81, for
long and short sterling respectively: Frcncle
francs 5.23 "a and 5.2l ! a: rechniarks, ~ IS
and "a 80. .. ,,.r,.rre
The governors of the Bank of England at their
weekly meeting advanced it's minimum rate OF
discount from - 10 3 per cent In the week
the hank lost G2,O54,400 bullion and the pro-
nor,ion of reserve to liabilities was lowered from
as 33 to 46.11 per cent, against an advance lfohl
IA 5G 10 44.10 per cent in the corresponding Wreh
last wear. when the discount rate was unchlhgea
M per cent The bank to-day gaInei A1o'uVo
million on balance. a: tn" London Stock rN
change British cOnsols opened hrin Dut ait"rmaru
lost n small fraction. closing unchanged ", 70 80
for money and shade lower at the same pri,c
for the account. Bar silver advanced - W
:i:,d an ounce. American railway sharcs W.T."
quiet following the fluctuations in me home nial
ket but the closing witnessed small concrsN1hnS .
AZ Paris French per cents rose 10 o12'. G 9,
LATER declined 20 0s2s. sight exchange on Lon ION
again being higher at 25.2s francs to tne
sterlina The weekly statement OF the BANK Oh
Eranoo showe1 nm increase in specie OF l,2Uo,uVv