New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-15
STOCK BULLS AGGRESSIVE.
rxCorRAGED BY INDICATIONS OF AN
EASIER MONEY MARKET
.x,cEs ADVANCE 1 AND PER CENT-UNCER
rAiNTY ABOUT THE BANK STATEMENT
GOLD WITHDRAWN IN LONDON FOR
SHIPMENT TO AMERICA.

li.nlv but the speculative temper has Veercd
unciently 10 cause many expressions Of confidence
A. wall Street that the rally the short Interest may
80 carried further. The tone in banking circles is
horeful but there Is conservative element when
docs not recognize the extreme assertions OF improve
mont made by part OF the financial community.
The feature that most gratifying was the fact
,b.t time money exhibited signs Of less strinsency'
Loan. for short periods OF umesxty DAYS and three
months-were made at legal rates by the United states
Trrst Company, and prominent money broker en-
moved by several OF the largest banks The amount
sunnled was not considerable when compared with
che extent the demand but satisfaction Is expressed
a, the least indication OF returning confidence IN the
money market In the main the quotations Tor
time money Include a handsome bonus I'm addition to
q nor cent and instances were known Of good houses
seeking time money at an equivalent OF L. per cent
and being unable TO obtain it, II was reported that
some money loaned ut O per cent Tor tWeNe
oon,bs hit the statement received little credencc
In usuallv wellinScrmed banking circles. Notwith-
Standing The easier tone in the time money MARKET
the current rates are considerably above normal
Nrures and conservative bankers are by no means
ready 10 predict that the decline In these rates may
BE- depended upon. Commercial paper Is still hard
IN discount with Is per cent stu the general rate
where business Is done At the stock EAchange caii
loans were decidedly easier and while the bulk OF the
borrowing was done at per cent, there were numer-
ous exception, at 5t4 per cent
THE DELAYED INFLOW OF GOLD.
I, seems probable that the long DELAYED movement
OF gold from Europe 10 this country, natural 10 INC
season when normal conditions prevail, may have set
I'm nj last. l.. Won Ilofmann a Co. have secured
500 900 IN London which will star, for this SIDE
today cable dispatch TO j.. L. Oppcnhcim 4 CO.
said that 100000 had been withdrawn from the
Rank OF Engnnd for shipment 70 America, ana SOME
press cables confirmed the reports that shippers III
London had secured moderate sums OF gold Tor e1-
pert Whether these Initial lots OF gold FOR America
win lie followed BY n heavier movement may not be
predicted with certainty. The tone OF the 1orrlSl
exchanges WAS Grmer yesterday, but quotations were
m, materially changed. In London the demand for
the precious metal for export has already s,lnehed
the market for gold bars. and The bh al the Close
was reported 10 have advanced l pence 10 as iou
an ounce. This advance wis unwelcome news Us
II suggested the fear that the English market might
rise further in opposition to loss of the yellow
coln The conditions OF exchange are such that only
m extremely narrow margin exists for the profitable
importation Of gold.
CLEARING HOUSE CERT1 FICATES
Wall Street persists in its belief that important
cancellations OF Clearing House loan certificates are
nj hand and Of the favorable speculative III
hueuces was the rumor that 81 100000 would be
retired next week. But 1t is impossible to find indlca-
lions OF such movement. should money r's
fail below per cent loans would undoubtedly be
which ther do not need for their own particular
purpose. Yesterday there $4,000 In c"rtii-
Gates retired but there S5'o,OOo issued 10 he"
applrants. a Net increase Of $4,000, making the
entire amount outstanding S22,74o,OOo. In Boston
no certificates were either taken ont or cancelled
The proportion Of cash i'm yesterdays Clearing House
settlements between the banks fell TO % per cent
owing largely TO the sub Trcasury's debit balance
falling from 81 900 900 Thursday to 100000 lh
Sab-Treasnry paid s5OOC0C gold over It's counter on
n Government check. 1t is reported that the gold
was especially desired by customer Of one OF the
large banks although the sub Treasury still pursl"s
II, policy OF cashing checks the counter In metal
There were exchanges OF $4,000 in currency at the
Sub Treasury. and for the first time In many days
telccraplic transfer Of SoJ 600 made on san
Francisco.
THE WEEKLY DNNK STATEMENT
Bairncrs confess themselves unable 10 forecast the
ve.hlv bank statement today. The movements
among the banks have been extremely Irregular
some Institutions reporting gain in currency and
I'm deposItS others a To-, IN cash ana
IN deposits and >til others loSs I'm cash ana an
increase in deposits. The popular impression Is mat
the statement will reflect considerable gain IN
money. TAi., however. i not agreed 10 uniformly
by well-informed bank officers. Their" Is di'pu'"
rs to the interior currency movement this week, bit
s,u,r we'll Informed persons assert that In spite o'
the Gain from outside made by institutions paving
tie express charges on money sent h'fe' Inc s'''i
ebi,,ments made bv numerous banks viii aggrccs'"
SIM moderately In excess OF the receipts. me
rate. for New. York funds at Chicago and Philadelphia
;mve represented a movement 10 thoS' important
r.,tres adverse 10 this ity. An unknown quantity
(, the gain tlat may have been made by The discount
banks through The release Of funds locked mp by
savings banks and trust companies, although MANY
Of these institutions have denied this week ta' 'hcf"
WAS any important lochinS up. - lar ~ inc h''
o,,crotions Of the sub-TrraSuIy concerned, The
= a u
The scattered imports gold have been 80 small that
they are not expected 10 prove az important factor
In to-day's exhibit OF average.
CHANGES IN QUOTATIONS..
At the stock Exchange the total dealing III s'o'N'
amounted 10 2JJ,47l shares against 233,lso shares
On THURSDAY. loudon's attitude was adverse, cabl'
advioes indicating that the situation Their" was nor
entirely calm. There moderate sale Tor
foreign account mt the opening, bat the impress ION
mad WIS Eight. In the shares Which have an inter
national market the only notabl" decline was in Louis
Vile and Na.lViilc. which declined 10 - ana cln''
| So pcr cent lower al - b. The gossip Oh wall
Street credited james Il. kccnc aud Washington H.
Connor with aggressive operations On INC 'oiS
sd. and oruions differed Ia the extent Of coVern.
hr ,bc hor,r interest. General electric rOsr 20
~, ~ and ot ga Be ended with net advance or
over p,r cent. Chicago, Milwaukee ara 81 fa"
closed up "a per cent al "l !, a'l'r safes III
81 IS. Rock Island and chicago Hurl'"e'o" ava
Quincy advanced Il fraction more INA" pr cent
Western Union Telegraph sold at 81 ana III - 90
showed n final gain Of u per cent. Inc N"h''-
bil shares rose l per cent ana over "'" "'''''
Sugar refining and Chicago Gas gained h'arl Poi
cent each \ break Of about = pc r''' "'' -
Pacific Mail which led 70 rumoi' 'h"l rec "r''''P
wa. r,rd,nc for ,hc co,npany G. l.. Huntington, TN
new PRESIDENT cn,phaliCiiy denied the tr"'h o' INC
report, lie said that the company h"o Il h""''''
debt OF only about 100000. which was S'."teu' ~
the las, four years the company has "Ap'ha'" i'''''
a 900 900 for new steamers and repairs Oh Vi" JIM
Gil OF whc! lad been taken out ol 'l"'.s'
Company ha, authorized the issue oil f3'ocI"o u -,
bond, Tor new cOnsi rnctOn but the nom" nv -,
been sold After thl, scar Mr.. iinnuhol2i tAP
tina, laciGc Mail will b., able 10 pay I'M" '''''
Oil lis stock.
INcENrIAEY UTTEE>NCEs RrrrpIfii