New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-03

WHAT YEAS DONE ~ STOCKS.

Much strength was displayed by the leading IN
dustrial stocks and few sp"ciaitlcs' pnt ,h''''
was no other reason than a merely professional
buying Sugar Refining covered range OF nearly
: per cent and it closed with gam OF ABOUT
per cent although its last price was larg"
nricc below its highest point. Rumors about IN"
next dividend and some problcmatical dlsfripn-
ton of earnings. in cash or scrip. were circulated
constantly throughout the day The course OF
prices was controlled by professional SPECTATORS
but their purposes Everc naturally concca""'
The advances in Sugar Refining. Cotton Oh anu
National Cordage may have been due wholly to
favorable developments in regard 10 the companies
The officers Of the companies undoubtedly know
the value of the stocks on a business basis. but
there is no evidence that they are buying them
for investment Specifically il looked very
much as if the buying was for the account OF
mere traders
Outside the industrial and special stocks the
market was dull, but strong Philadelphia ana
Reading closed virtually unchanged. after an adj
vance OF per cent. but the receivers have not
yet made approximate statement OF the
financial condition OF the company. There ap
pears 70 be no certainty that the next DIVIDEND
on Lehigl Valley Railroad stock Will be paid'
under the lease, but the president OF IN" LehIgi
Valley is one of the receivers of the Reading and.
in connection with the president of that company
one of his associate receivers. the rights Of stock
and bondholders must I've secure. The closing
WAS affected adversely BY decline in Ncw-Eng-
land for which there was no explicit excuse.
Rumors that the presidency had been offered ana
refused probably had some foundaflon Inc
actual ownership Of the Br "%ss Eu, WIN 1h.
| he no foreclosure until there has been a deiaIit
| in interest
THE DAY IN THE BOND MARKET.
There were no transactions in Government bonds
| at tho Stock EAchangc bnt bids for Is were
raised 2 per cent. Tie closing quotations were
as follows:
,:sss Is PC: s.Issss e
e. j;s ! :S; H.
small sales Of Louisiana consol As AT 90 and len
nessee settlement Us at l01 -. OF CITY bank
stocks Republic sold 90, at 10 and Western
The general bond market has fallen into
class bonds cannot be executed readily, and the
| the demand Philadelphia and Reading incomes
gained small fraction on the theory that IN
come or no income, rights were worth sometime
The recoverlc, were less than the declines yes
terday Chicago and Northern Pacific Hr-ts adj
vanccd IL per cent to Is and Northern PACING
consol IS gained the same fraction at 20. Rei-
Money on call ruled at per cent, and the eX-
treme range was from 3 l.? to ) l.? per cent
The Clearing House statement was a. follows
Exchanges, S153, .OGs; balances. SG,G0s,?jH
The b-Treasi,ry was debtor TO the Clearing
House S3545si. Its net loss on balanc" was
S43, 693, made up by a loss Of $'s,o39 in cur
rcncy. minus gain Of S44.330 in coin. The
DAYS operations Included Receipts. S2,OjJ.36o
payments, $2,999,O53 resulting in general
balance of $l05, s2o,34j consisting OF SSl, 23l,-
SIS coin and $24,5P7,1j7 currency.
Tho United states Treasury AT WASHINGTON
ociwd to-day SlGG.645 National bank notes f,r
redemption The customs receipts were : '1o1,,,
20 the internal revenue receipts 6',OO3, ana
the miscclan receipts 500.
To-day's Washington Treasury statement of cash
on hand ard deposits in banks compares with the
figures of the last previous statement as follows;
COL, Ss' s 10. @'sa Irc D'$%::.
II ire! On s 5ss4 Bee:
Actual e., s., cash Y IN he
o@and' "a, oc, oo s,eo 2,o ~, De- 1885,
pe Ems IN ban& ii5,5os 90 Dec ssi7
Net cash BAL 81 II 600 l1e $40 Dec SSH 72
The foreign exchanges were strong. ana dIalts
on London were a fraction higher llicre WaS
not much business. and the advance vas I'M
nsual because there can De TO fast mail before
SATURDAY, There will be no exports OF goa on
that day Following are revised qnota',o9s ' sr
and 81 81 "a for long and short sterling r'>lcrt-
iyely: French francs. Oh l-.a3l3 3D. reich-
marks, % l-4a95 IL.
FOREIGN MARKETS
The governors of the Bank of Engl1n1 at their
,voallv meeting made no change in IFS minimum
rate Of discount, which remains at l.: per cent.
In the week the bank gained t2otoCu buiIioh,
and the proportion OF re'crve 10 llaoilltns war
inrarcI from ~ 81 TO JO07 per cent. against
dcciirc from "A oj TO 42.G9 per cent in tie cor,
responding week last year. when me discoun'
r,te was Unchanged at per cent. IN" bank 70
dav gained 100000 bullion on balance ~ IN"
london Stock Exchange British consois Wee ,, .
,rao HIGHER M % 81 for money. and 81" h'@nrr
l. u. no O. 1c for the account In the open market
money was easy at IL per cent for discounts ana
distinctly lover At I-2al 3i per cen! ior o ,, ~,
nn American railway shares further advarc"h,
and although the dealings were mot MT r iargg,
she last prices tho highest AZ rars frcm m..
sr ccpts declined 10 ?S.01 IL, sight cNchnhee
%" :" Iondon being 25.l, francs 70 the Stirling.
The weekly statement of the MnE o ., f ,nc