New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-27
FAVORABLE CROP NEWS.


There was less talk of gold exports in Wall
Street yesterday than the day before. Ihe de-
mand for foreign exchange fell off, and posted
rates for sterling bills were reduced cent 70 the
The actual rates declined about "a cent The market
closed at its lowest points and IA cents below the
gold exporting point y member oil one Boiu-eA-
porting firm said: 81 do not think the banks VIII
nrovda gold or legal tenders for foreign houses
| to any large amount Cola would have TO be bought
i'm the open market with certified checks, wnlch
would imm edately result in such Il premium as
would effectualy check the export movement
The New York represen ta:ive of important for
egn institution. speaking yesterday about gold
exports said: II 40 not take much stock In the
talk of gold exports in the immediate future AS
to rechmarls, | say little, for we do not do
much In them. As matter of fact however,
there have never beea any exports of gold to Ger
many proper All the gold that was sent there
was in transit for Austria. Germany cannot draw
gold from direct Sterling is at least a per cent
away gold point. according to my calcula-
tons. although cannot tell for certain as the
question of premium enters into the matter
think no gold will go until sterling is at least
81 SSl2."
CERTIFICATES RETIRED.
The work Of reducing the Clearing House loan
certificates still goes merrily Yesterday the
cancellations amounted to $4,000. leaving the
amount outstanding $2s5S5Go Notices were
given call in $4,000 certificates for retirement
to-day. The return 20 normal monetary condl-
tons was shown by the fact that all OF the Clearing
House balances we settled in cash, gold coin
covering 20 per cent ana bills 20 Per cent Of the
amount. In Boston there $4,000 certificates
cancelled leaving the amount outstanding SS,42),Oo.
One Of the bear fumor3 OF the day was exploded
by the following publication by Kiernans News
Agency: president Conn. Of the General Electric
Company, is authority FOR the statement that
there is truth whatever In the report circulated
here and In Boston that there Is disruption in
the syndicate recently formed. Mr.. Coffin said the
money has all been paid in.
Favorable reported from the Kansas
crops. Chicago dispatch also said that the Iowa
crop bulletin the crop OF corn I'm that STATE
2f1AUO.Oc0 bushels. ip.oCoD0 bushels in excess
Of 1892. Wall Street also cheeied by advices
from well-informed persons in Washington that
there would be- vote on the silver Repeal bill
by the middle Of October.
THE STOCK MARKET.
The stock market was depressed early by
raiders. but In the afternoon A sharp rally occurred
the decline in sterling exchange. American
Sugar Refining extremely strong all day, and
closed at -. per cent higher. Chicago Gas rose
K and National Lead = per cent General Electric
fell from RS TO 39's bu; rallied TO ~. St Paul
closed up .. per cent. Erie rose H. and New-York
a.id \eN-Engiand a per cent The market ended
strong with the bears in retreat, although all stocks
did not show gains OF the principal
recovsries were In American Sugar. from srt to
ssh. Chicago Gas from J2's TO 5i"s, st. Paul from
55s to 3d.. Rock Island from GlS. TO 6-7s; Chicago.
burlington and Quincy from - 10 N9ia; Chicago and
Northwestern from efs 20 81 Erie from 2i. to
'2.; Western Union from - to I9s: Manhattan from
i20 to ~: Lackawanna from l4la. TO 1924, and
Union Pacific from 1873 to 2cl..