New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-12
CLOSING PRICES or sAN rRANc1sco STOCKS
WHAT WAS DONE IN STOCKS.

WHAT WAS DONE IN STOCKS.
| Monday. Decembe" lip. m.
The stock speculation Is so dull that the irrcgu-
larities Of to-day's market caused no surprise
Considering the temper of the Street il might be
wondered that there were so many declines In
| prices. but 1t would have been hard to have dis
covered conditions in the current news to have
warranted a buoyant speculation. Wall Street,
as rule. seems disposed to consider ruling val
ues a full reflection Of unhappy conditions,
while the speculative short interes; is relied upon
as factor of moment. The market to-day was
governed entirely by the consideration of prob
able future railway earnings and ger Civilizations
were made freely from the report of the Chicago,
Milwaukee and St. Paul for the first week of
December showing not only decrease Of sl93.
$40 from the corresponding week OF 1882. but
decrease of sll2243 from 1891. To assume that
such a shrinkage in gross receipts meant cor
responding loss In net returns would be 20 rob
many Of the recent reports Of net earnings OF
much Of their value in influencing the public
mind. 1t is probable. however. that there will be
no hasty jumping at conclusions by investors un-
til they have studied more than one series OF rail-
way reports matter which road is taken as
measure OF values.
There was steady selling Of s.. Paul on its pre-
liminary report Of earnings with the result that
prices declined from G33s 10 62AM62Ss. Ii was the
most active stock on the list and It's weakness
Influenced important declines in other Grange
shares. 1t Is question how far London selling
helped the depression. but as n rule the opera
tons of foreigners were adverse To speculation.
An exception may be noted in Atchisor. Topeka
and Santa Fe. which rallied Y per cent on the
covering OF shorts. The Street "a Indifferent 10
the unreasonable outflow OF gold and rather
halls with qualification the prospects OF pos
sible drain of 100000 or S3OJ)OOJ a week. J.
required SIX months at The beginning OF 1892 80
take 81. 900 900 gold from the country and now
the New-York banks have an enormous surplus
Of the yellow metal and they Will doubtless hr'p
the Treasury to meet any European demand.
pending the settlement Of the tariff question and
vigorous outlining Of the financial policy OF the
Administration.
Excepting the demonstration against the rail-
way list the only stock which suffered from bear
operations Western Union Telegraph, which
ends 1Ss per cent lower, almost on inc eve OF me
declaration of the usual dividend. American
Sugar Refining fell from S2.s to SM but rallied
10 S25a and Dis,iillng and Cattle Feeding huctu-
ated between 70 and 21i2 with the result o! show
ing a tr1fe net gain at 2ss. The decline IN chi
cago Gas from CT to 65ss1sG may have repre-
santcd reallZations. bat sharp advances In Cen
eral Electric and National Lead prove that there
are still bull powers left to cope with bear fac
lions. The market closed generally lover Dit
not without some rallies from bottom prices
THE DAY IN THE BOND MARKET.
There were no dealings in Government bonds
at the Stock Exchange. but the market ru.ed
steady, final quotations being unchanged as io'-
lows MI, 49,,
,os,nasS ' al 1s' IS cur cur 6 6. i lsse lSs ~
% Ss | s& S Ss Cd: ;s' & 6: I Iss
In State bonds the feature wss the active deal
ings in Virginia funded IS Per cents, at 3JSH
5GH15G% The demand IS strong from home IN
yestors especially since the Governor Of Virginia
recommended the investment OF tho surplus funds
OF the state Ia these bonds. Compared win
other Issues Of the State the curren, p'icc, al
though 1t shows an advance OF some per cont
since the securities became active a. TIC stock
Exchange IS SIN relatively low and conservative
houses recommend the investment: Norih Caro-
lima Cs non-fundable sold al Is. There were no
sales OF city bank stocks
The general bond market was extremely dull.
ard several important issues were almost en-
tirey neglected. Prices novel i:regu!ary ana
there was a cessation OF the recent speculative
demand Atchison general - were active, but
after selling at 70lA, rally to 'Oh le't The iast
price 4 per cent under the final tranaachnns
Irregular way" on Saturday the seconds y, after
selling a. 3Sls. closed with net gain OF 4: per
cert at 49, Canada Southern Guaranteed Arsis
gained the fraction at 1922 Ipedo reoria en- en-
Burlington Cedar RAPIDS and Northern col
lateral trust IS rose ~ per cent to SCis nF.e
made seller days' at H. On light trans
actions Eas. Tennessee. Virginia ana Georgia
consol IS fell X per cent TO SS%. missouri. kam-
sas and Texas seconds declined Is per cent 10
Az Oregon Improvement 80 are down "a pr
cent 10 54H. Reference is made TO cur full report
Of bond sales. ,17,,l
pei cent. - !. 1900.
Exchanges S72 390,917; balances. S3,6I3.SGl.
The Sub Treasury was creditor - the Clearing
Uouso s3oC63 It's ret gain on balance Stree
Fridav was S77314S. made UP By gains Of 0f.i9O
in currency and s25S.95S In coin. The two days
operations covered Receipts $ob9S45G; pay
mems ~ s95 3OS, resulting In a general balance
Of SsseiSs73, consisting Of sGl.9)5.52i coin ana
The Mercantile Safe Deposit Company Of this
city repcrts silver bullion on hard to redeem
outstanding certificates amounting to 1j1,3so
ounces 49,.
The United states Treasury at Washington
received to-day s2572o7 National bark notes for
The cus,oros receipts We're s334.426. the in
tcrnal rcyenue receipts $685. SJ. and the mis-
cellaneous receipts $117.loo.
To-dav,s Washington Treasury statement OF
cash or hand and deposits In bank compares
with the figures or ,he ias' previous statement
follows: - n >, ,,r.-,.oo.
Net gold hand. sS"'-"''i' "o"''Ai'" Dc- f'-''-'
Ne: egai-tenicrs on c,s IA a,ao &c IA. on oos
Net silver on hama. Oooo.Vp o'o''iss Dec 'e.'-
Actra cash In the
Treasury vaults
over oatsandins 40, s2a iGt 1c5 Dec se7 COG
,eoos,s in hank Iso1i0) 1889 500 Inc. 1884, 100
,u ..., ~, SOS iao 5Gi sioc .c5s Dec s5t9o3
,rnc farei,n exchanges were especially firm
s.. ~. ~or,,,aSt,, drafts but sterling rates were
ao hadn naser nj the close. The supply OF COM
a or d h,,tt