New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-10
PART II.
JUNE 10, 1893.
STOCKS AND MONEY BOTH UP
CURRENCY SHIPMENTS MAKE HIGHER
RATES
THE SHORTS IN THE SPECULATION ON TIL
p1-v-sM,ILER SHIPMENTS OF CASH.


pr-N-sN>LLER SHIPMENTS OF CASH.
Tho spaculative sentiment In Wall Street developed
fresh hnoyancy YESTERDAY owing the more
,a,r-e In the financial situation. The bulls demon
s,roted their strength In the stock market AT Tie
,or, and the bear faction finding no stocks pressed or
col, wore eager buyers In the afternoon. carving
nrces ND FER cent on the average and per cent
oud over in several instances. The bears were In
coalition Of mild panic. and the outstanding short
interest was heavily reduced the buying 10 cover I'M
narting increased activity TO the trading. The only
,mpor,ant decline in New-Iork and New England
which opened at p, IL and rcCeded I" 2lG2i e.
Pf adelphll and Reading weak early AT de'ihe
10 Is IL. but rally OF per cent followed ic''"s
tho nrce Ia per cent above Thursdays final figure.
The advance in the general list was condiced III INV
facc OF HIGHER rates for money, and while last prices
we're a shade under best figures the market ciosed
strong and dnll Railroad bonds were higher ana II
moderate inquiry for European account was repor"u
The higher rates ;or call ioans were the result Vi
the heavy shipments of currency to the interior tnN
week. As loans had TO he mace over 'he '''u'u"'
ba,tboliday C. cordng TO the rules of the Stock En-
change this had an influence In stifenng rates Inc
bulk OF the business was d"Ee al ~ per CENT WIN.
considerable loans up to 10 per cent and exceptional
TRANSACTIONS as high ms II per cent. Inc heh
rates for call money something OF "a hoN"H !"
stock brokers. and for the first Time since 'ie ''"
in stocks early In May. brokers were sohci'i'e n!
fr0m hp
Bankers do not hesitate 10 say that II the l"''i'o
demonds for currency do not soon more acuNe
snd SITTER money market may he expected
There WAS q material falling Off In the requirements
of funds by interior banks Inc sl"pn''"" $500
the city estimated at from Tooo'ooo '"
600 against "A previous daily average o. NJ ,eas
., ooo 400 Tie sub Treasury received s-oo'ooo III
GOLD for the purpose Of transferring currency 10 'n
S,h Treasurv AT san Francisco. Bankers shu 'ha'
tho dIminution III the eux to the interior YESTERDAY
was a tarcring down natural TO the CLOSING Vi 'e
week II Is by means considereo CERTAIN NO
eh,nments will cease next week although 'his ie'"
&c hoped for from u possible revival OF cohnuei''
There is qualification In banking circles az NV ,
tuned weakness in sterling exchange WHEN was ''.''
domo,arzed and lower yesterday. Toward the cioSe
=, .h. exchange market q slightly frmer tone was
6cvcloped under an increased inquiry Tor rehi''n.e
I'm, in spite OF q rally sight sterling pnS eiueu
csn, 10 the c under Thursdays quotations. Inv ~
statement due to-day is expected 10 snow nea,s
,oss IN cash. but it is possible that by decrease III
deposit iiatltes 'ne surplus W
crease materially .s ,.or,
p,ornon, Morgan who has just returned from
his visit to Europe. at his Office yes'eruay anu
ce,ved many calls from fellow bankers WHO "''ne
IN ascertain his views on the SITUATION OF WIN ia"
rar,icular business with the firm Mr. Morsah w
c,ined TO talk OF his visit abroad III repN !" '"'
query as 10 how the London situation was VINE" w
80, h.ave there is any trouble with the SITUATION
over tbere., When asked for his opinion as 10 '"e
domestic outlook Mr.. Morgan said; Il nave ho'n'As
10 saw on that subject. ] am not 10 De ine''
tn. fai,ures reported to r. G.. Dun d. CO. LOT 'he
reek number 3d. for the United states anu - io'
Canada a total Of 349 compared WIFI -oo u. w
nrevious week. and I92 in the corresponding "ee"
- 100 Two OF the failures reported were Win
ua,it,es exceeding 81 100000 each and oil IN 'he
United states were Of rating OF more 'hah 9''o'
each The weekly review notes siowheSs III co'e's
ev,rywbere and business activity Is Irregular sum
Improvement from week ago Is SHOWN W ''e 'o''o"
Ing remarks ,. NM ,h,ch
1.-THE severe depression OF week ago. WIN"
eliminated in very light money and numerous id,'-
,,.as hos been followed BY some recovery. reports
that definite action by Congress on the money qu's
ton has been assured have done inuch 10 cause '',
hotter feeling which indicates that appiehension VI
tho future rather present diifculty causes huc
OF the trouble. But the stringency at Chicaeo anu
elsewhere has forced realizing on the unprecedented
,ors NJ wheat so that the lowest prices ever known
have been made here and at the West Ihis mas
be,ned exports and In other respects monetary con
dit,ons are distinctly more favorable Inc treasury
is gaining reserve. the exports OF eoiu nave oe'
arrested foreign exchange has fallen "i'h ue''''
r,,ev here and q reduction of bank rate at London
and banks at Chicago have rallied win su'ce
AGAINST runs which appeared threatehihs LINUS"
M radical change in underlying conditions mas oc'
Cured there Is more helpulness and some recovery
from the extreme contraction OF credit. Inc IMAM
cia outlook not helped yet by foreign traoe, a.
imports continue heavy, while exports are sui oeo"
49,. r.or,s for the past two weeks more than 10 PEI
cent But the depression in stocks brought In some
foreign buyers. and prices have recovered on q,
average 81 so per share since week ago, WIFI RAJ
road earnings continuing large. Foreign payth.n'Ss
Tor securities have helped exchange downward anu
aIso hills against several million bushels wheat tk
for export SO that some bankers believe me rest u
the summer may pass without renewal OF god AporS'