New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-30
CONFIDENCE GROWS APACE
WALL STREET MARKETS ADVANCE WITH
SPIRIT.


FROM wAsHINGToN-GOLD COMES TO SAN
FRANCIsCo-FAvoRkBL RUMoRs ABOUT
SEVERAL PROPERTIES RECORD
OF BUSINESS FAILURES FOR
THE NINE MONTHS.
The confident temper of Wall Street continued
yesterday There was hesitation and dis
sppointment early because public advices from
~. shneton did not confirm the roseate views enter
tsined on Thursday as to the prospects of a
.n.edy repeal Of the Silver Purchase law But this
feeling passed away when 1t was found that prices
Aid not yield far. and before the day over
the bears were again frantcally covering shorts
At advancing prices. The Street was filed with
Trash rumors that "A vote in the Senate immi-
nent and the conviction was almost universal that
the voorhees, bill was assured of passage some day
next week one iumor. however proved to he de-
cjdsdly premature. namely. that the bill had actu
ally passed by vote of a. to &c. Yet that report
received circulation in the Stock Exchange just be-
fore the close.
The good feeling helped by the promise of
handsome bank statement to-day. Estimates now
place the gain in cash at nearly 100000. and an
increase Of SOoO0oo s6.OcO.Ooc in the surplus
servo is looked for II is thought that the decrease
in loans will be sufficient. with the gains in de-
posits TO raise the latter item above the amount
OF loans 1t Is believed that next week will witness
a cancellation Of Clearing House loan certificates
on larger scale than that OF this week.
Yesterday $40 90 certificates retired, leaving
seS S55 0co certificates now outstanding The amount
called for retirement Monday is s65oooO. At
Boston $4,000 certificates retired. and the
amour, outstanding is reduced to Ae5OoOo
GOLD ARRIVES At SAN FRANCISCO.
The foreign exchanges wera weaker. and the
idea Of gold exports is disspsted San
Francisco dispatch announced that 100000 gold had
arrived al that port from Australia.
he avlyo "a fc fret nnyV ard i'm
pulse from an advance in New-york and New
England. That stock TO 80 and closed per
cent higher at 2sA. The bull party was encouraged
to aggression by the consent obtained by the Nc
Leod interest to build its connection from Brew-
ster's to this city. and the promise of fresh
mystery" had decided attractions for the specu-
Iators who are fond of ventures in this property.
Distillng and Cattle Feeding rose TO 2e and closed
up . per cent at 25ss. A dispatch from washington
was circulated declaring that the WAYS and Means
Committee had agreed to double the tax on spirits
1t was also lea rned that the price of whiskey had
risen cents without attracting much notice Ameri-
can Sugar Refining rose from &7t 10 %7sr% on re-
ports Of the unexampled business the company was
now doing Northern Pacific preferred went up over
! per cent on rurnors that the Belmont-1ves com
u,ittee expected to carry the coming election and
that the company might he reorganzed without
the necessity of foreclosure The result of the re-
cent conferences. in Philadelphia promising post
ponement Of foreclosure proceedings in Philadelphia
and Reading carried that stock up from 1913 10 S's
617[ The bonds Of the company were also strong
and active.
On small sales LAX. Shore rose nearly per cent,
and r1,mors came from the West that extra div
dend was probable at the close Of the year The
agreement between the Cleveland. Cincinnati chi
cago and 81. Louis and its employees. avert'ng dan
ger of a strike caused rise in the stock of about
per cent The whole market made substantial
advances and the bear operators continued to cover
heavy lines Of short contracts. 1t is estimated by
close observers that the have bought 100000
shares OF the stock in the last few days
FAILURES or THE WEEK.
The failures reported by telegraph to r. G. Dun
& Co for the week number 329 In the United states
and "a in Canada. a total of 1868, against ssl last
week and POS for the corresponding week or NY.
From January to September $50 State and private
bankers failed and 70 resumed There were 1855 Ma
tional banks which suspended and 20 resumed The
weekly review says Of the general situation:
Hope deferred" explains the past week IN part and
t. Il, doubtless true many INDUCED unreasonable
hopes but no, entirely answered expecta-
tons A feeling Of disappointment IA commonly aScHD'o
10 delay OF action silver bill in the Senate IL
4, also true works which nave resumed opera
rons do not md orders the demand from con-
suress vigorous as they anticipated ana win some
IL i. question whether they Will not close again
While money on call been abundant and cheap, snd
about 81 600 600 clearing certificates have beh
,strsa there IL psrcspbly greater caution In making
commercial here and al some Western points Ooh
td.nee p,overbislv slow growth has been somewhat
omni,hed in part advancing exchange suggests
IN. possibility Of rOc oApOrts. Clearing Hous" cAcfshse-
,ralc.te little gain IN one volume Of business b'ns
for the week 1915 pcr below those Of the same
week last year In foreign rads. exports again eN'eo
las, wears and for month sbou, "a cent while IN
pots show the month Of about 80 per cent
Yet foreign exchange has risen far that experts Of
,o,5 To Germany might be with little loss and IL
IS believed ua. calls for repayment oil eod oDC'h y"
loan. from Europe July and August arect the rate
hut "A
Of the gold has expected and the banks have on
hand more they need the Treasury stock is 10 10"
ina, a outflow WOULD b. regarded with some
Apprehension. The Of money rom tn" interior
continues large and plainly activity than
usual At this season domestic trade and industry
THE RECORD or NINE MONTHS.
The record of business endorsements. as com
piled by Brsdstrsets. for the last nine months
naturally makes an unfavorable comparison win
recent years The number OF failures for this
per,od was ll7l with liabilities of 1924 OS716S and
assets of z2s.75ssn The liabilities about four
and a quarter times the aggregate Indebtedness
of the 1878 embarrassed individuals firms, and cor
porations In the corresponding period oi r.
debtedness OF the sses concerns reported as nay
Ing suspended in the same nine months Of fo,I linz
traders ever reported IN nine months IN any pre-
ceding calendar year was IN 1885, When Ine 'o sI
grecate liabilities of sls5 s6l 600 60 per cen; OF
the indebtedness reported thus far in ixs. .,,.ss
The incresse in the total number or business
in the first nine oni msn on 1881 .,
1883 as sSmp sn Whit Tis the he IN he
gate liabilities this year Is more man 81" pel C., 80
The percentage Of assets to iian'eS a .ni Cent in
1882 and 1891 and 81 per cent In 1871 -. ,u
The following table give the ngn of assets for
the first nine months OF each Of the last 'we''e
years:
d r:s seS 's