New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-26
WHAT WAS DONE IN STOCKS.

Assurances that the obligations incurred NV 'liS
country would he paid in gold were not speclaiN
needed. Little alterations on the part OF the
present Secretary of the Treasury must Dc en-
pected and. if he had actually announced that one
class of lcal-tcnder notes was payable in gold
and another class in silver. it is very doubtful II
tbe solvency of the United States would hay"
been questioned There has been considerable
talk about the legal-tcnder reserve and innumera-
bic authorities have been cited to show that no
such thing exists The anxiety to restore con-
fdence" by offering gold in exchange for legal
tender notes is confined to no particular section
If the country Friends Of silver and the single
standard have We'd with each other in upho'lng
the hands of the Treasury. The relief which has
been offered is of the flimsiest kind however, and
even an issue of bonds would be only a temporary
expedient 1t is devoutly to be hoped that
the Understanding debt of the country WIN
not be increased to furnish funds Tor
further accumulation of silver, but 'ha'
would be infinitely preferable to r"puda-
ton. Without an international agreement the
United States cannot hope to maintain gold ana
silver on an equal footing II must keep an
klnds of its own currency equal or suspend specie
payments. For that reason and that alone, an
issue of bonds would be welcomed II would not
he taken wholly By Eastern banks a'"' II one
half of the issue was negotiated am "a tf"rc
could be no certainty that the return would not
be immediate 1t remains to be seen Whether tnc
banks which are d now I tatc tho bonds WIEN
if they are issued, they are returned by Europe
Present offers of gold amount 10 nothing. because
they do not increase the stock of the metal IN
this country.
In this respect the speculative situation has
not been changed. Stocks were quiet to-day. and,
as rule, prices were higher hnt IL" W'vcmtma
was meaningless, because the volume of genuine
transactions not known. II is outside the
question to say that the selling was wholly for
the short account or that the advance was du"
TO covering The short interest is unmpor
tant factor in the present market
THE DAY IN THE BOND MARKET.
There were no transactions in Government
bonds at the Stock Exchange. The asked prices
for a. were reduced Ia per cent. The closing
quotations were as follows:
BID Asked. Bid. Asked
u es 81 s3s It 1891 IS sSrs, ss5!$5
Es: iSS ,ss ! s s s ;S9s s 1898
Dis Col 3 G5 isoi.liis liz
There were no sales Of State issues, OF city
bank stocks Chatham sold 40 az 400. Commerce
900 at 194 and Mechanics f9Sj at 80.
The general bond market was lons way from
being active; but the movement OF price, was Gnly
inward On comparatively small TRANSACTIONS
Erie second consols rose 3 per cent to as. Chi
csso and Northern Pacific hrsts were the fraction
higher at "a l-o, and Northern Pacific consol -
made the same final gain at IS Philadelphia
and Reading general As advanced further J per
cent 10 -, but incomes were neglected and slisn,,
IL lower. 81. Louis anu SOutHNfSt'Nl HiStS
i per cent at Ga l-2, but the dealings IN them
were both small and early. Reference Is made 10
our full report of bond sales.
Money on call ruled at per cent In the early
dealings there were a few loans at per cent. ana
in the afternoon balances could not be placed al
better than per cent.
The Clearing House statement was rs follows:
Exchanges, Sl3s, 7s7,77j; balances, S6,oIs,4So
The Sub-lreasury was debtor TO the Clearing
House S6sI.s72. Its net loss on balance was
S9Ol, 10 made up by losses Of Sl94Oj in com
and ST. 1859 in currency. The days operations
included leceipts S2,50j,31: payments, S5,J01'-
33I resulting in general balance OF Ss2,I"?'-
s22, consisting OF S64,22o,23o coin ana - '''i''
O The United States Treasury at WASHINGTON re-
ceivcd to-day S353,303 National bank notes Tor
r The customs receipts were S34o,9ss. the inter
nal revenue receipts Si47,o4s and the mi'cri-
lancOus receipts S31,3l4 -
cash on hand and deposits IL banks compare
with the figures of the last previous statement
as follows:
No, cold OIL ASr s SIS $ 3: S. Dec p:1Hf
y S9 s ar%a on nd Ss s. IS Sa a me- 3S
IRE" treasury vaults
S SSrls Outstanding $50 ~,
Deposits in Bank. II c3o,2oi li@97.7i0 Inc. 2OI4ip
Ne, cash bal sis0 s7s Gil ti3557s o7i s'3o5oio
The foreign exchanges were lower again and
presumably for the same reason. Inc ueihaiu
for romittance was overshadowed by offerings OF
ban:>ers' bills. These may have been against ex-
ports of merchandise. Following are revised 90
tations for actual business: Bankers DIS
S4sj 3-iaS4 Sc and 50 So LAS SIS for long
and short sterling respectively: French francs
SIG rs and 5l4 3-S rechmarks, % Ia ana
95 "a.
In London British consols closed 81 per cent
higher al 90 J-l6 for both money and the account
no change was reported in the bullion balance
Of the Bank OF England. In the open market
money was again dcarer at 3-4a? per cent for
discount but abundant at about lal IA per cent
for daily baanccs Bar silver was quoted steady
AZ esd an ounce American railway shares adj
vanced, in the belief that United States obliga-
tions would still he paid in gold. Al Paris French
3 per cents closed unchanged ut 06lO, sight en-
change OH London being little easier AZ - !
francs TO the sterling. The weekly statement
Of the Bank of Germany showed an increase in
specie Of 129SO,O0O marks
Tho suhscrinfion hanks for tho 81 00O. 600