New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-16
RTIrTCATES NOT NEEDED.
SKs RETIRE NEARLY o.. 600 200 or THEN.
Iioufp,rIoN- r,voR,nrr n,xR STATE.
NEXT Exrrcrfsp STOCKS Us.
SETTLED ny rnr SILVER AND

TARIFF orr1oNKs
wall stree, fell into the "dodrums' yesterday.
Traders were Indifferent 20 the extensive can
collation. % Clearing louse certificates and were
act bucyed by the promise Of another hand
hank statement to-day. The delay over the
passage % the silver Repeat bill In the Senate
checked activity and there more talk Of the
unsc',llns influence OF tsrn changes than has been
heard In a long time.
The Clearing House Loan Committee retired
o. ssoo loan certificates This Is by far the largest
amount cancelled any single day since the
movement 10 retire the certificates began. The
total amount OF certificates issued was tN.'H0o,
but, Including Yesterdays operations. $4,000 have
been Withdrawn. leaving the net amount now out
standing S45r.ooo The maximum amount OF
certificates outstanding at any one time was
srs2see. which was unchanged from August "
20 September G. The Clearing House Committee
had expected 20 retire round two millions yes
tcrdsy. but all OF the certificates called IN were
not presented for cancellation. These Nlo"o
certificates will doubtless be Withdrawn to-day. ana
next week IL IL expected that the cancellations
Will again reach important figures. 1t was learned
yesterday that most OF the certificates retired re-
Gently have been part OF those which were taken
out by banks not because they were needed Out
matter Of precaution. These BANKS 'n"h
that the situation has improved sufhcientV 10 per
init an extineushment Of their obligations. Inc
certificate. retired therefore do not represent ex-
~
which called for their issue j. Edward simmons,
president Of the Fourth National Bank. estimates
that Of the advances made by the Clearing Ho1se
Committee In the shape OF loan ceruncates ~
per cent were made upon bills receivable or mer-
chants notes while not more than 20 per cent
of the collateral deposited consisted OF socSs anu
bonds
The general impression In banking circles u that
IN, weekly statement OF the associated banks TO-
day will reflect gain In cash OF al ieast
g. 10000 The banks In the week have gained
from suh-Trcasury operations only about sioocoo'
hi. N. influx 81 currency from the interior has
b.en large and II Is thought. will bring the re-
serve. up materially. There have been heavy re-
auctions IN loans made 10 country correspondents
so that little gain in deposits Is looked ior anu
hence the added holdings OF cash VIII prooaoV go
almost entirely into the surplus reserve. In spite
Of their stronger position. the banks are not OFFER
ing time money freely. and a conservative pohcy
will probably be pursued until the washington
situation becomes more favorable to the Repeal
bill Bankers yesterday did not conceal their her-
vousness at the long delay in the Senate ana the
multiplication Of advices from Washington assert
ing that a compromise measure would probably be
the outcome of the struggle between the silver
and the ant-silver forces The aspect OF affairs
al Washington is considered extremely unsatis-
factory as the financial community is opposed to
compromise on the silver question and breads the
possible effect of any step backward in this
matter
The solictude of the Street respecting the silver
outlook was reflected in dull and wholly profess
sional stock speculation. For the moment the bull
cliques appeared to be suspendng operations ana
London houses continue 10 sell stocks moderately
Even ~ declaration OF the dividend on Chicago,
Milwaukee and St Paul common stock brought no
response from foreign sources. This stock opened
down q per at els, rose Is and then declined
to 6ea6Ols Only as lately Monday the price
was 63 Among other stocks which are favorites
abroad, Louisville and Nashville fell ! per cent
Philadelphia and Reading the same Lake Shore
~ and Union Pacific u per cent Inc lhdustridi
snares were weak on revival OF dlscussion as
10 the effect of possible tariff changes. Many
traders thought that Congress appeared TO be In a
on this theory they sold stocks in the absence or
support from the bull pools. Although the com
mercal sugar market strong and famine
was limited at in the West American sugar Re-
filming stock followed the decline of THURSDAY with
another fall of Ia per cent National Lead was
sold down 10 2Sls, and after a rally OF point
showed a net decline of nearly per cent National
Cordage fell per cent TO %. and American Cotton
oil dropped from 3iiz to 33ssn$SA sympathetic
weakness in Chicago Gas carried the price from VD1.
10 5si.G5gi6 General Electric enjoyed lively
boom early. advancing TO 49i4 from 1917 but II
closed on reaction 10 Ar, against ~ on Inurs-
day There was a revival of rumors that Presl-
dent Coffin intended TO resign his ofhce but ne
declined discuss the reports Traders are await
ing an official statement as TO whether the estate
of f. L. Ames is pledged to the subscriptions
made by him to finance the company.