New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-02
WALL-ST. AGAIN CHEERFUL.
STOCKS RECOVER ON THE FINAL PROSPECTS
OF REPEAL
THE LAST CLEARING HOUSE LOAN CERTIFICATE
cANoELLED-NEws OF INDUSTRIAL STOCKS
SUPPORT

ryJr LAST CLEARING HOUSE LOAN CEHIllICAlE
CANoELLED-NEws OF INDUSTRIAL STOCKS
EXPECTING LONDON SUPPORT
Wall Street showed signs OF recovering its equi-
,,hr,upo Yesterday The sharp reactions OF the two
nrevous days seemed to have shaken out the
weak holders of stocks and added more company
nm the short side than the big bear operators ihe'
A more cheerful tone was inspired by the adVlces
from Washington pointing to the immediate ACTON
~ the House Of Representatives in accepting
the voorhees, Silver Repeal BILL although the ac-
tual passage of the bill was not announced untii
inst after the close Of business at the STOCK En-
change The London Stock Exchange enjoyed Il
holiday Yesterday, so that there were no selling
orders from that quarter, and the hope was en-
t.rtained that when the fact Of silver repeal was
absolutely demonstrated Europe would send buy
ing orders for American securities Ihere was
some sentimental effect produced by the canceha-
ton of 100000 Clearing House Loan certnch'eS'
which wiped out the last relic OF the extraoruia'!
measures taken by the banks in dealing with ias'
summers monetary crisis. The meeting OF the
Clearing House Association to-day Is expected 10
be a 'iove-feast' of considerable proportions.
SHARP ADVANCES IN STOCKS.
The stock speculation opened ragged uhoei '"e
influence OF Tuesdays sharp declines. Inc pe"is
assaied Western Union with Visor' usins "'
ammunition the bill introduced in the 'hi'eu "'a'e'
Senate providing for postal telegraph system. but
hsfore con the tide had turned and there were
general and sharp advances before the close mi
caso Milwaukee and st. Paul was the most active
stock on the list. sales OF nearly ''VVo si'aie9
being dealt in at advance Oh more IMAM Pei
can, IN 6ss. II Is said that the next weeks report
of gross earnings will show an increase ol SlVVVV'
over last years showing Chicago, Rock Island ana
Pacific rose from 6Sss to 70$sgIWs. ana Chcaso'
burlington and Quincy. after falling from 80 10 %,
rallied to sI4Q@ Chicago and NORTHWESTERN Soiu
from 1907 to lOsal05la. Missouri Pacific rose from
calling from 50 10 S77 advanced to 9O+s1sOis Ihere
was renewed buoyancy in the coal stocks. Deia-
ware Lackawanna and Western rising from 1854
TO 172q1n7s. Rumors were current lha' 'he 60.
of the o Int sa t1e tbe editing
Of A melon in the way of doubling the caPi'aI
80 IN 1908 There was active buying of Chesa-
peake and Ohio. the price rising from isTstD s
vas TO- become more aggressive in the property
Now-York and New England. after booming ,r TO
Sy on President Mcleod fell off to 3sm3sA The in
dustral stocks were taken in hand oy , pe cent in
the leaders The market closed strong viii, hno the
might be started
FOREIGN EXCHANGE.
TIL. foreign exchange market opened weak but
closed strong No more engagements or goiu ior
import are reported. London advices say ihat the
demand has fallen off, and the Bank OF Ehsi""u
has raised its price of bar gold to 7ss I'D an ounce
The discount rate in LONDON mas rlsvIi 10 -
cent and there is some talk of possible increase
in the Bank of Englands rate today; ,,,n.r Com.
The directors of the United states hupper I'm
pany Yesterday decided TO pay ID per cent 10
stockholders next January. The company mas S See,
the new dividend rate to conform 10 chaHse III
the time of distribution. ..o. -,
The Manhattan Trust Company, as trustees Oh
the first mortgage bonds of the Security Corpora
ton announced yesterday that holders Oh ma
forty of the issue had assented 10 the aeteeinSn'
with the Reorganization Committee OF me ~, IA
tional Cordage Company for an exchange OF 'hsIr
tbe
guaranteed per cent preferred stock or the Ieoi
Ssnized Cordage Company. Holders OF the BONDS
who have not assented requested TO sign ths
aeree,nent at once. Copies of the agreement ana
any Information relative 10 the exchange that may
be required can be obtained or the Mammalian
Trust Company. The exchange is to be maze on
even terms. the holders of bonds receiving pre-
ferred stock for the coupon due November as
we'll as for the face value Of their holdings. ms
guaranteed preferred stock Will be a lien upon an
of the Cordage mills now under the mortgage OF
the Security Corporation, second oHy " tne sa1
nrior liens already upon certain OF those properties
and will also have first equity In all OF the assets OF
the reorganized Cordage Company 1t VIII also De
entitled 10 dividends before any can be pald upon
lied Cordaee Company. Dividends upon the guar
anteed preferred stock will be payable quarterly,
and the stock can be redeemed at the pleasure OF
the company at 100.
A SMALL FAILURE.
The failure OF George H. Stayner. jr. a broker
on the Consolidated Stock and Petroleum Ex-
change. was announced yesterday. The amount of
his Clearing House differences small and the
non payment resulted from default of a customer
Mr. Stayner Is the son Of George II. Staynel, Tor
merly a partner of Henry S Ives. whose railroad
operations few years ago were the talk OF wall
st. Mr. Stayner expects 10 resume with the as
eiata of