New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-07
WHAT WAS DONE IN STOCKS.


Something more than ukase is needed 10 re-
store public confidence. There has becn' anu
there still Is. great uncertainty about an extra
s.ssiop of Congress- One may be called in
September. and perhaps at an earlier date if I'M
expected contingencies arise 1t Is pleasant 10
learn. however. what every one already knew,
that the present financial condition is the only
menace TO the countrys welfare and prosperity
and that the things now needed are coolness
and calmness in financial circles, and study and
reflection among our people" There is nothing
in all this to indicate a distinct financial policy
ON the Fart of the present Government. special
session of Congress in September, if do not call
it beforel Our people should be informed that
their representatives in Congress must soon he
called upon to discuss financial subjects H no III
may be we'll TO say that I" our people have pceii
considering financial topics for some time, ana
that they have concluded that the Treasury DE
partment requires an intelligent head rather more
than it needs god ana that calmness would DC
greater if il was not suggested officially, at one
time, that Treasury notes should he PAID only IN
silver, and AT another that fresh issue OF ola
legal tender notes was just the one thing neces-
sary TO draw gold back to THE country. { must
I've admitted, therefore, that the uncertainty
about the financial policy of the present Adj
ministration has not teen relieved
1t seems TO be the genera impression in Europe
and TO a smaller extent only i'll tins country tiat
as soon as Congress is convened the sherman silver
bling about IT, and that there will be no agitation
of other economic questions which bear upon the
prosperity of the country. In consequence partly
of this erroneous opinion abroad the opening was
almost buoyant to-day Early prices, however
were generally the best, and the closing was d'~
pressed although prices only yielded rapidly in the
late dealings. The final movement responded TO
higher rates for money, but they should have been
welcomed by sound securities as an cfectual check
of gold exports. Final variations were divided
and they rarely reached per cent, except IN in
dustrlal and special stocks.
THE DAY IN THE BOND MARKET
There were still transactions in Govern
ment bonds at the Stock Exchange and asked
prices as well as bids for the gold issues were
lowered about l-2 per cent. HE closing quota
tons were as follows
Bid Asked BID Asked.
L. s. 42s. 1891 5 cur IS I Is.s .-l lo;
continued at Scul % 1870 - ~,
1884, Sc Ii H.! he
State bonds continued to be neglected, and
there were no sales Of city bank stocks.
The general bond market was strong, even II
it was quiet. AIchisOn general 4s opened higher
at e 3-4, and after sales dt 81, closed unchangel
at al IL, while seconds, class a, advanced >
per cent 10 A. ga Philadelphia and Reading
issues continued to advance ana general As gaiued
nearly l per cent az 60 l-sa69, ana the IN
/ comes also closed a large fraction higher. Rici-
mOnd Terminal collateral trust - advanced
per cent to &c. On the other hand, Northern
! Pacific consol IS opened higher at SO. and on
moderate transactions fell TO 81, a final loss
| from yesterday of l l-2 per cent West shore As
were not specially active. but they suffered the
unusual loss of | per cent. Reference is made
| 70 our full report of bond sales. Money was
| dearer OIL both call and time. Early loans on
call We're at 3 per cent. but the rate was adj
| vanced gradually to and exceptionally a small
| business was done at por cent. The last loans
were made at per cent, which, apart from re-
newlls, was the ruling rate.
The Clearing House statement was as follows :
Exchanges. ~ 09,9s6,77S: balances, S5,2ll ,4sO.
The Sub-Tredsury debtor 20 the Clearing
| House S525,4sl. Its net loss balance was
| S9s4,072, made up by losses OF $3s,950 in coin
and $945,l22 in currency The days operations
covered Receipts, S6.?0S 902 payments, 81, 1884,
| GA; resulting in general balance OF 2,2j5.-
| S64, consisting CT $50, 702,160 coin and S2l,-
! 553,724 currency.
| The United States Treasury at Washington re-
| ceived to-day $252,637 National bank notes for
redemption. The Customs receipts were $751;
| SAP; the internal revenue receipts $50, 000 and
| the miscellaneous receipts S72,10S
To-day's Washington Treasury statement of
| cash on hand and deposits in banks compares
with the figures Of the last previous statement as
| follows:
June s. June6 Differences.
gold hand So 4sl OILS $50 1881 Dec s2140 7Oa
On hand ...... "a s5c224 $4,000 $50 Inc. 1898 1896
Net silver OH hid 1O.y9o.04 10361,S 7j Dec. 1893