New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-28

WHAT WAS DONE IN STOCKS.

The elasticity displayed in the stock market
to-day was a surprise to both factions. On
one side II argued that until the repeal
Of the present silver law was accomplished ana
the bill actually in the hands of the President
neither European nor home investors would
take any part in speculation. To-day was.
moreover the end Of the business week, ana
after the recent rapid advance 1t was entirely
reasonable to expect realizing sales by the trad
ing element sufficient to cause q moderate re-
action. All anticipatiOns were disappointed
The market opened and closed strong. ana
while there were occasional recessions final adj
vances were very substantial and the closing
was bold and confident. Europe was buyer
where Yesterday it was n large seller, and even
If the transactions were chiefly arbitrage
business they indicated an abrupt change in
sentiment and thoy also were large enough TO
affect rates for foreign exchange. Rates on
London declined so quickly that important I'M
ports of gold were expected. but at the close
of business no engagements In LONDON had
been reported. In the middle Of the day the
roon-traders were convinced occasionally that
the rise had eliminated, but they lnVaTlaDIy
recovered previous sales at a fractional lOss
The outside demand for stocks and bonds WAS
so persistent that the arguments OF mere
traders and professional spectators were
brought to naught The course Of prices clearly
demonstrated that public interest again mas peen
excited and that for this reason the extent
of the present movement may not easily De
measured. 1t IL generally admitted that Gov
eminent purchases OF silver DuIhoh are ALL, WIZ
among investors at home and abroad VIII De
restored. Vast stores Of idle money may be
turned into the channels of trade and specula-
ton, and the former prosperity OF the country
fully resumed.
The final changes in prices Of stocks were
almost without exception material advances;
They were fairly uniform, but industrial and
special stocks were less conspicuous than
they have been lately. while railway shares
were more prominent. st; Paul was first IN
activity and although 1t closed below its high
est point it gained IL per cent This was
about the measure Of the advance in the West
ern railway stocks. Chicago Gas. which was
second only TO st. Paul. gained per cent. ana
on small transactions Louisville and Nashville
rose nearly 3 per cent. The anthracite coal
stocks we're strong. with the single exception
Of Reading which moved within narrow lin
its and ended practically unchanged The
closing was In the midst Of smart rally
THE DAY IN THE BOND MARKET.
There were no transactions in Government
bonds at the Stock Exchange, but the market
was firm in tone, and asked prices for both
classes Of As were raised !, per cent Closing
quotations were as follows
continued at .scurGs saGi0i
ys II iss# ':sI a Ss:ss sSsS
state issues were wholly neglected. and the
only sale OF city bank stock was OF Commerce
(2O) at ia
The general bond market again was less ac-
tive reported transactions being little over
81 800 000 at par value, against $2OG3OOO yester-
day and f2.445 900 on the previous day. An
encouraging feature of the market was n de-
cided increase In the outside demand at adj
vancng prices. This was really more impor-
tant than the shrinkage In transactions. The
movement OF prices was not uniform. but gem
c,alIy II was toward a higher level The arg-
est gains were made by special issues, or 9TH
ers that are not usually prominent. Chesapeake
and Ohio general 4l1s rose 2ls per cent to rs:
Iouisyille New Albany and Chicago general
2IIs TO 71%; Richmond Terminal Gs 2 per cent
to- 52H: Oregon Short Line Is to ~. and