New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-13
PRICES OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

Aside from q heavy si!rnkage III puSiheSS, VIC
Stock E> change markets were without prominent
feature to-day The fortnightly settlement In
London caused a few failures there, and few
National banks somewhere in the West were
Obliged to shut their doors. The condition of the
country banks was supposed to be sound. The
failure of the Columbia Bank at Chicago may ex-
pose "a lot of weak spots, but the subsequent
failures will be so small that they will hardly
attract attention. The declines in stocks were
due neither 10 the troubles in London nor the
bank failures in the neighbOrhOod of Chicago
The fault of the stock market is lack OIL puy-
ing lower, and while there Is apparently a laTse
FREQUENT rallies are natural. The advance IN
rates for foreign exchange suggested further e1-
ports of gold. but shipments tomorrow Will not
exceed $500. 900. and tho gold will not be taken
from tile Sub-Treasury. Some of the houses
which have been accused of lack OF patriot
ism, calmly awaiting exports OF goa Dy
of l-2 cent to the sterling between the rates
at which demand bills could be bought and gold
could be shipped.
The stock market was dull, and final variations
were divided. A few stocks were inclined to be
heavy, and Chicago, Burlington and Quincy was
the most conspicuous Of these. The Granger
which have an international market were gen
orally higher Erie was quiet, but exceedingly
strong, and it closed with gain Of So per cent,
while Atchison, ST. Paul, Louisville and Nashville
and Union Pacific made small gains.
THE DAY IN THE BOND MARKET.
A sale of $500 coupon As at ll3 was enough
TO impart strength to the Government bond mar
ket The closing quotations were as follows:
BidAsked Did.Asked
u s. 4lgs, 1891 vs. eurSs 1 1s9S ,o,. go.
cent. rec; ;.sis 1885, Us e s%r .ss ~
Us4s 1907 ,coSll2t 1ls,s US. cures, 1s'9'1lSa
The business in State issues was limited to
IT. oonf Is W s..
citv ham, stocks Southern National sold n65)
at 10. III -. ..
and generally higher. On small transactions Erie
tbe 0l" closed at their highest point Chicago and
Northern Pacific firsts closed ~ per cen, ,oTeI
ner cent at 62. General Electric debcntnre 81
advanced IL per cent to 30 20. The South
western issues recorded OF bond sales
Money on call remained excessively easy at
about per cent. The highest rate was and the
lowest 9 per cent. to,,ou,s.
Exchanges. S123,3l4, O33 balances, Sc, s35,4o6
'The Sub,Treasury to-day was debtor to me
Clearing House sdhs'SS t ended Ss tonight
clndcs receipts of $2534s,s5o. and payments
Of S26,l29657, leaving the general n,, oalan a1
S77,S14,533 against S7S.59o,54o on Nay . "a, a..
H. navments SO, 81 900, and from the receipts
900 for items which affect only ITS account
with the general Treasury, Its loss as aheo'i's
the oa anKs Is Torerations included Receipts.
G, .oG ~. naymcnts S4.5el Ola. with balances
Of S6C,2I0l3s coin and 81 ,39o'ooo GgrIeicS;
received to-day Si4O,293 National bank notes
for redemption. - GO. 90 Tho internal
revenue receipts 1912, 533, and the misce iianeous
fec Tnppdavs Washington Treasury statement OF
cash on hand and deposits III Hass s,atanent
az follows: ..
May IL .o1 May La, d. i2 Inc D's s,Ss csS
Net 1 Rs: sG cSSs
Actual cash in the
oyeT S1ista"d"e eo COS se sssAss Inc
M hank S2iiOJ lo959259 Dec 32lo9
No, cash hal $40 $40 sol si4o, 747 Dec sloA1i
Tho foroirn exchanges were distinctly higher
C,bla transfers on London were sold ~ "a w.
Rates for short sterling bills were fully s2 c ono
above the shipping point ana a" rA ; ,o o,,o
,a';nns for actual business Bankers bills. - soa
Sis5 ia and 81 s0aS4 80 Ia for long ana siior.
sterling respectively Frcnr a francs DIV 90"
In London British consois rallied smartiy p.
cause the for,nightly settlement was compe,u e
without much trouble. The Bank Of England los.
money was higher at 3 3-4a4 per cent for dis
count and casicr at about - per cent Tor daiI
Io ,Iancas Ear silver was unchanged at IS i-4t
IN ounce. American railway stocks advanced
throughout the day, but slight concessions were
.nts .oh nj o6s7 I-2, and sight exchange
o,'I Ios sI remained at s53o francs to the
sterling The weekly statement of the Eank OF
France showed an increase IN specie OF Ia''F''o"'
francs gold and 1.1GO,0O0 francs silver c...
The NewYork Guaranty. and Indemnity Noln-
many and Messrs Brown Bros. a Co. o'Ier i9r
~ ,,',n, go 800 coo first mortgage per cent
:, o"ovrar .rold bonds of the Mohawk and Malone
Railway Company, payment OF principal and inter me,
W., i,ay,anteed nv the New YORK Central and Lid
esS tpiyer RAILROAD Company, such guarantee br.
i"n i im on ench bond. TIE MohswN AMI
Malone Ma Railroad leaves the main liLc of the New
ioIh 4, H. Adirondscks 10 Malone, where II con-
t eaCsS with other railroads. forming Line 70