New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-17
STOCKS RALLY ON SHORTS.
THE GOLD MOVEMENT FAIRLY BEGUN.
PROBABLE SHIPMENT OF 100000 THIS WEEK
-krSTRALIAN LOSSES

PROBABLE SHIPMENT OF 5000 oo0 THIS WEEK
AUSTRALIAN LOSSES
The Stock Exchange markets resumed more normal
tone yesterday, and there were sharp advances upon
the short interest Some early feverishness was ex
hibited owing to the unfavorabe news from ABROAD
but later London adyices indicated a calmer feeling
and there was heavy pressure OF long s'ochs
the bulls encouraged to assume the OFFENSIVE
The strength OF the stock market grew marked In the
afternoon, and the bears free BUYERS impartng
fair degree of activity to the late dealings rev
stocks failed TO record advance OF per cent ana
In the progdnept members of the list the net gains
reached abosts per cent Rccoveries were also noted
In the bond market.
Conditions were without decided change. and the
attitude Of the banking community was still conscrv
alive. Foreign banking houses surprised at the
extent Of the rally In stocks view OF the situation
abroad and the Continued liquidation for London
account. Money call in ample supply at GO
8 per cent but bankers do not regard this as n
healthy conditioc. The same indispostion to lend
money on time exists. and capitalists indicate their
lack of confidence by the free supply OF loanabe funds
or CALL where money is readily obtained in case
disrust develops. Out-oftown banks this week have
been urgent applicants for loans from the New York
banks In the open market commercial paper IS still
hard to negotiate except at exOrbitant rates. En-
courasement was felt however, at the absence OF
new serious failures In the West Private advices
received here by bankers the that the
from the assignment Of the Northwestern Guaranty
Loan Company.
There was 81 .4o0.oO gold withdrawn from the Sub
Treasury for shil men Europe. The gold was paid
Tor in legal tender notes. except $4,000, which was
received in exchange for Treasury notes There Will
L., 81 100000 Of the precious metal sent to Londo.'
mn the English steamer Majestic today The shippers
arc Iazard Frrres who send 81 100000, and the
british Bank OF North America, which sends the re-
mainder Arrangements have also been made 10
ship at least 81 100000 on the German s'e"meI
Aucusta Victoria tomorrow. II Is also unaers'oou
that about S. 600 900 gold will be exported on sau
days steamers The foreign exchange markets re-
manned strong with active demand Tor cao'e
transfer and sight drafts.
The outward movement Of gold may not easi! oe
measured now that II has fairly got under way. sihP
ments will be made 10 as little d,s'urpah'
as possible In the markets here hut the cohuihoh Vi
affairs in London points 10 an important dfah''
Private discounts were strong at per cent Aho'her
Australian bank-the city Of Melbourne Bahk-s"s.
pended Yesterday. 1t eleventh on the iist u
Australian banks as regards deposits and paia'up
capi,al. The bank last year paid 10 per cent IN
dividends on a capital Of 100000. II had reserve
fund OF E4lOOOo. On December 81 last The deposits
amounted 10 e4.9SJ 5l2. and the advances We're
E4e97775 Yesterdays failure was the thirteenth
among the Australian banks since the end OF January
The record date deposits reduced to doiar) Is Us
follows: -.,.,.