New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-07
CLOSING PRICES or BOSTON sTocKs.
WHAT WAS DONE IN STOCKS.


Sneculation in stocks has been brought again
almost 20 a complete stand. 4 further shrink
age in the volume of business to-day proved
the lack Of public interest, and the irrcguarity
in the movement Of prices was indicative Of un-
certainty even among professional operators.
The opening was dull and featurcloss but for
an hour or more prices OF the leading stocks
We're advanced fractionally. American Sugar
Refining was exceptionally strong, and In
anticipation Of the declaration Of the regu-
lar dividends, which were announced after
ward the stock IA per cent On
the official declaration the stock declined
easily over per cent. and in spite OF
closing rally it suffered a final loss Of y per
cent. Chicago Gas opened higher, but its last
price was below its first. although the carly i'm
provement was not wholly LOST. General lHec-
trio continued to be depressed. and. although
there were 10 fresh developments in regard 70
the affairs Of the company the stock closed
heavy at a loss Of about per cent or the
other indEtrial stocks Distiiling and Chttl.
Feeding was inclined to be strong on renewed
rImOrs that the revenue tax on spirits would
surely be raised. and American Cotton OIL
rallied Il small fraction on small transactions.
The railway list decidedly Irregular. 81
Paul wavered within narrow limits, ard open
ing slightly higher closed at its first price. but
the other Granger shares were ncIined 10 droop'
and at the end they We're imas per cent lower.
Union Pacific followed their example, and South
western stocks also suffered small losses. The
business in Missouri Pacific not large. bat
its final decline was ia per cent. Atchison was
less prominent than ii WAS yesterday. but u
fell further about | per cent. although It's nst
price was not the worst. The weakness may
have been due largely TO the abrupt declines In
the bonds Of the company which were pressed
for sale throughout the day. In spite OF o'lciaI
dcnials the fall In the securities must be re-
garded as significant in view Of the heavy IN
terest payments on January in addition to the
loan Of $200OO0O which the president Of the
company went abroad to renew.
4 further advance in the rates Of foreign ex-
change was not without important influence on
the course OF prices. Demand sterling b!s sold
within / cant OF the figure at which gold may
properly be exported and on Continental points
rates were equally strong. The advance in cX-
change II must be admitted. is unso aSonnb'",
but in the circumstances. by no means unnat-
ural. Discount rates for money are everywhere
higher in Europe than in this country. ana
money always gravitateG toward the centi"
where II is worth tn" most. Against ana "a
per cent al New York the open market rates for
money in Europe are 2s per cent in London,
az al Paris Az at Berlin, 3% at Amsterdam,
az in Switzerland and 27s per cent in Belgium.
Theee rates moreover. are generally close 10 ihe
minimum discount rates OF tho European banks.
II is reasonable. therefore. that merchants and
bankers who have intimate connections abroad
should discharge maturing Obligations ana
credits and in fact. take every advantage OF
the difference in the price Of money here ana In
Europe.
THE DAY IN THE BOND MARKET
Sales OF Government bonds at the stock Ex-
change amounted to $4,000 registered IS ut