Morning journal and courier., 1893-06-26
Children Cry for Pitchers Castoria.
Children Cry for Pitchers Castoria.
Children Cry for Pitchers Castoria.
Financial.
Irregularity In PrIces-Boston selling
Depresses Union Pacific and Some
Other Stocks-Advance in Lacka.
wanna and Manhattan,


Depresses Union Pacific and Some
Other Stocks-Advance in Lacka-
wanna and Manhattan.
NEW YORK, June 2.-In to days limited move
ment Of prices there was some natural irregu-
larity. Generally, closing quotations were lower,
while In a few stocks such as Lackawanna, Dis
ti.lng ersiflcaIes, and Manhattan Elevated, the
short interest was squeezed sufficiently to cause
advances. Boston contributed something to the
selling. The bankers of that city, who a week
ago proclaimed themselves above the need OF
clearing house certificates, suddenly changed
ground to day, and recommended such an issue.
Naturally the result of this abrupt reversal Of
policy led o misgiVing in the market, and for
the sales Of stocks for that account to-day the
Boston bankers have themselves to thank. Tnese
sales, though by no means heavy, had a particu-
larry bad effect on Union Pacific stock concern
In which company board-room rumors began to
circulate. The stories were apparently corcocted
to hasten the decline, and their entire improba-
bility was shown both in the frmness of prices
for the company's bonds and in the absurdly
light transactions on which the stocks decline
took place. There was little news on the general
market. Sterling exchange was steady at its
lower level, and silver in the open market weak
again. The publication OF the Htrschel COM
mittee's report seems, however, to have been
postponed again.
How decided has been this weeks falling of in
the intsrior demand for money to-day's bank
statement proves. On the two preceding Satur-
days the banks have reported for the respective
weeks an average decrease Ia deposits of twelve
to thirteen millions, reflected by an actusl money
outflow Of nearly Eve millions last week and
nearly ten the week before. This week the loss
in deposits hat been only S. $50; the decrease
in money balances S. 412, 900. This is despite the
sudden and acute demand from the Pacific coast;
shipments to which, moreover, through the local
depoAit, for exchange purposes Of gold certif-
Gates have been reflected in the steady increase
in the governments gold reserve. The full effect
Of this exchange, indeed, viii not be known un-
til disqualification Of next weeks treasury state
ments. Next week, too. the anticipated interest
payments both of the government and Of several
wealthy railroads which nave adopted the same
policy will bs felt by the depositary banks The
issue of clearing house certificates in Boston will
undoubtedly give added relief to the situation.
The continued recovery, meantime. in the rates
Of interior exchange suggests not only that The
western drain is over, but that the banks at
other cities will presently resume shipment OF
currency to the east. Since the Improvement in
interior collections, and the approaching matur-
ity of rediscounted western paper, Will very soon
turn the movement OF credits towards New
York, such an anticipation of the altered demand
ia only normal.
Following are the closing prices, reported by
PRINCE q WHITLEY. bankers and brokers, 90
Broadway, N. Y, and Is Center street, New Ha
ven, Conn.