New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-06
CLOSING PRICES or san FRANCISCO STOCKS
WHAT WAS DONE IN STOCKS.

TUESDAY. December > r. Hl'
The stock market was dun and heavy to-day.
The early decline was due in part 10 the evident
weakness Of the London market but after a
midday period Of inaction, when slight rallies
were effected. the leading stocks again yielded
and the closing. with a few unimportant eX-
ceptions. was at virtually the lowest points.
Atchison opened at q decline Of over per
cent and i'm spite of fractional rally SUI
fered a final loss of nearly per cent. The
trading in this stock unusually large ana
there were plain. If circumstantial, evidences
that the bulk Of the selling was not ior the
short account. Among the Granger si"chS -;
Paul easily maintained leadership. and 1t closed
AT a decline of IA per cent. OF the INDUSTRIAL
stocks Chicago Gas General Electric ana Amer
lean Cotton oil fell over lis per cert. ana tn''r
rallies were devoid Of spirit. but sugar kciIhlnE
was superncay strong. and closing halfway IN
its extreme fluctuations, except )naIy rcc'iu'',
a final gain of Il per cent. while Distilling ana
Cattle Feeding remained practically unchanged.
Among spccialties and stocks that are not
usually prominent Lake Shore. Northwest
Omaha. Kansas and Texas preferred ana PEN EN-
yer and Rio Grande preferred lost neaTE ! per
cent but the movement was sufficiently UNI
form for Union Pacific and Western Union rec
graph suffered similar declines, ana F'ouKS Ihe
louisville and Nashville, Ontario and western
and Erie were excessively duh but at the cloie
a trine lower. IL would be idle To susscal
special reasons which in any instance may nave
influenced the fluctuations but the conspicuous
feature Of the speculation was the eXtfeN"
weakness Of those stocks which enjoy an inter
national market. The advance in foreign eX-
change was partly due. indeed, to continued
selling Of securities for European account
Apart from incidental Influences however an
excellent reason for the downward movement ~
prices was the uncertainty about nnahclal 't'7-
iation II had been expected that on the Pc
assembling of Congress a doiinit" ana coiipIc-
hensive financial policy would be annou2Gca Dt
Treasury, with its steadily waning balances,
eeemed to demand the adoption OF wise ana AT
the same time vigorous measures me uI9
appointment naturally Is corrcSp'"ulhbiE t''i'
when the country Is Informed solemn!y ihat me
recent panic merely financial pertnrD'-
ton" and that since the repeal OF the SiiIer
purchase law "rcasonablc delay" alone viii de-
eide what additional legislation may be neccs-
sary 1t is quite Of piece with THIS poAry
10 estimate the deficiency in IN" ''pVcIni'Ai
revenues for the present fiscal year "a S-S'olV-
900 For the first five months the "l"hthly
statement of the Treasury shows an aCtua
deficit of about $3D,00O.OJc The raining Oh u
receipts in July and August was due largely TO
the paralysis which fell upon our foreign con-,
merce In direct consequence OF the niah,idI
nerturbatiOn." but in the last two months me
excess Of expenditures over receipts has Pc"
Increasing with alarming rapidly. and IN No
vcmber it amounted to $I322.c2c Iheic - no
| reason to expect. amid proposals loT rd'i. -
changes in the tariff and revenue laws una my
receipts of the Government will be enlarged
while il Is certain that It's expenditures cannot
readiIv he curtailed If the new tariff should
no mi into effect March ], as suggested by
the Ways and Means COnnttce, the FeceiPtS
in the last four months Of the hscal year M ~
he yc~y much smaller than they are in existing
circumstances II is entirely possible that the
! Government intends, in place of formal ISSUE
! Of bonds to emit eXcheGucr bills. That would
| he English Bills might be made AT -'2 per
cent interest redeemabc on three months no
tice AT any rate some provision Tor protect
ing the lcgal-tcnder reserve, and meeting me
ordinary disbursements OF the Treasury would
seem 10 be a patriotic duty.
DAY IN THE BOND MARKET.
Government bonds were practically neglected
| q, tho stock Exchange and bids Tor both classes
| of As were reduced Il per cent The closing
! quotations were IS follows:
| pia Asked Bid. Asked.