New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-13
cIOSING pKICk,S OF PHILADELPHIA STOCKS.
WHAT WAS DONE IN STOCKS.

MONDAY, June I---p III
There was no news to-day Of sufficient I'M
Iortance to dictate a reversal OF tn" spccuiatiV"
sentiment and the abrupt change in the cour@
of values simply indicated the narrow ana pro-
fessional limits Of the stock market. The rapid
recovery Of last week had eliminated large
short interest, and that support was lacking
when realizations were attempted. In" result
was sluggish and saeging market, with an az
celebration in the declines wherever comparative
activity WAS shown. The advices from abroad
represented an easy condition Of the money mar
ket. and forrslla1owcd a satisfactory completion
Of the fortniyhtly settlement in London in sharp
contrast with the apprehension which existed t"o
weeks AGO Yet the tentative dem,nd for
American securities noted among foreign houses
last week appears already TO have sunsiicd, ana
London was disposed 10 sell more stocks than
il bought In spite Of the improvement reported
in the London situation, competent observers a2f'r
that underlying financial conditions abroad GRIP
nlc the European buying power. ana foreign
capital is too wary 10 manifest premature con-
idcnco in tho American situation on the mere
sentiment inspired by the Presidents statement
If purposes or on predictions flthere1 by the
wish of the probable repeal by Congress of the
Silver Purchase law. Almost no news my BE-
said to have been recorded 10 affect the DAY
,peculatons The Government crop report was
no novelty in confirming the outlook for mi
teral shrnkagc in this years weld OF wheat
Some local influence may have fcen "N"r'cd on
Philadelphia and Reading by the Threatened CON
test with its employees, and doubtless the III
creased rate cutting on transconflnental ireigh'
insnirel COMPARISONS as 10 the relative charges
carried by the railroads engaged in this trans
oortatcn war The speculation is loath to con-
h IF HIGHER
Stock Exchange funds, Notwithstanding the pre-
montory symptoms of strngency in the call loan
market Il, unexpected shipments OF currency
to the interior on Saturday were follower Dy
larger movement to-day, and the bank statement
is reminder to all observers THAI TINS drdln NAY
not be sustained long without cnrtaillng the
accommodations 10 speculative borrowers .
Not far from onehalf Of tO-day's business IN
stocks was contributed by four members OIL the
list, only one of them. being IaiiwaX stork
chicago. Milwaukee and St Paul was the leader
in point of activity, and, while II Declined from
20 SIS to 90 3-s, It's net loss at IN" cins. was
less than | per cent. American sugar Refining
opened cx-dividcnd Of 3 per cent at 80 IL, nut
its subsequent course was downward 10 .. LASS.
Before the next dividend period arrives, congress
will BE- on the eve Of assembling. ana the as
cusSon of the sugar tariff mag not long ne II
no,rd as a market factor. The timeworn deVIc"
of a new opposition to Chicag, Gas was brought
ont and, whether coincidcntly or not, the price,
declined from "a Ia to II 7-sa'2 3-s. General
Electric moved in sympathy from - I, Il 31la
-. With these Tour properties "nl''' tiW ii>'
of stocks in which the dealings reached into hve
figures The rest of the market moved IN IA
usual unison, and averaged net decline oil abo",
per cent In spite OF late rally nom lowest
points the closing was srirltlcts ana heavy
TIE DAY IN TIE BOND MARKET.
Government bonds az the Stock EXchang" were
pressed for sale. resulting in decline for the :
per cents of IL per cent from saturday hi1
price The indications that the Western saw
ngs hanks are still under the necessity OF rclizn2
cash for their holdings. The bid, for the A. wre
lowered - per cent, ana the asked price WAS re-
duccd the like fraction. Final quotations were AZ
follows: