New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-28
CLOSING PRICES OF PHILADELPHIA STOCKS
WHAT WAS DONE IN STOCKS.

WHAT WAS DONE IN STOCKS
Wednesday, December 27--p. m.
Extensive liquidation in some stocks and heavy
covering of shorts in other directions impaired
an irregular aspect to the stock market to-day.
Owing to the absorption Of securities in the
crisis Of the summer, Wall Street fortunately Is
carrying comparatively few stocks on margin.
and no general liquidation follows so important
an event as the insolvency of railroad system
like the Atchison with Sl02 900 900 stock and $780,
OOO, 900 funded obligations Because of the absence
of any universal pressure of long holdings the
bear faction is disposed to operate with modera-
ton, and it's liabilities were largely reduced to-
day by covering which rallied the Granger group
and stocks like Western Union Telegraph about
/ per cent on the average. Unfortunately, the
disposition Of the bears to take profits may
have been checked by severe declines in unex-
pected spots. Louisville and Nashville. FOR in
stance, unusually active-over $4,000 shares
changing hands-and the price declined steadily
to 434Q437s. against 46ls last night The only
significance of the break may lie in an indica-
ton OF foreign selling, although week ago
as much to-day houses with important
European connections were SATISFIED that the
company's directors would decline next month
TO attempt the payment of the usual dividend,
even in scrip. Louisville and Nashville's net
earnings for the first four months OF its new
fiscal year were SAIL $50 less than in the cor
responding period Of 1892 and this amount Is
more than the surplus shown for the fiscal year
ended June 30 last The charges for that year,
to be sure included the adjustment OF an old
litigation involving s225I37 but allowing for
that, the Louisville has begun its new hscai
year with net earnings at rate which con-
tinued through the remaining eight months
would leave 1t able 10 pay only half the regular
rate of dividend. In view OF the uncertainties
Of the future IL may not be wondered that
doubts should be entertained as to the mainte-
nance of last years rate OF payment 10 Stock
holders.
The recevership for New-York and New Eng
landswas without influence on general specula-
ton. From 1914 last night. the stock fell to IL.
but when the news became common property
there was rally of over per cent. Brought
under the protection Of the courts the CONF
pany may hereafter be less successfully manipu-
lated periodical mysteries based on the
supposed value OF the road TO competitors or
connections. IL seems almost incredible that the
dealing in General Electric should have ex-
ceeded by far the activity Of any other single
stock Rising la per cent 10 BIN, IL was not
until after noon that flood Of sales swept the
price down 10 3lLG33. Accepting the positive
assurances Of the companys officers that there
Is no contemplated reorganization the decline
is inexpcable. but it becomes OF ordinary i'm
port IL the alternative proposition is adopted
that a speculative pool. which had attempted
an advance to 40. has abandoned It's work The
only other speciality calling for mention is Dis
tilling and Cattle Feeding. which fell to 1875
early. and closed at 2li2. with net gain OF
more than per cent. rive stocks,,m,Genera,
louisville and Nashville-contributed nearly two
thirds Of the total recorded transactions. The
market closed as irregular and confused as It's
course had been through the day.
THE DAY IN THE BOND MARKET.
There were unusually large sales Of Governs
ment per cents coupon at the Stock Exchange
at the bid price---lli. The final asking price was
reduced /, per cent. and both bid and asked
prices were lowered u per cent for the registered
4s Final quotations follows:
,os;,,s IL; is'l s eur eur S. s: 1898 1872 ISs "
{: !$ iIs e Gu; cur 6: 1855 liz "
I'm State bonds the only sale was one OF Ala
bama class A small" bonds at lO2&. The deal
ings in city bank stocks were confined TO west
ern National 900 at 100.
The general bond market was more active,
reported sales being $l.S79,OOo par value Inc
dealings in Atchison issues however. amounted
In nearly $500 900 par value General As opened
up !. per cent at G5l. but declined later to
G4a64N. and in the late trading there was con-
at 6tG64as The seconds 4 ranged from 3l% 10
3iN3lle. Atlantic and Pacific guaranteed As sold
at 49, n decline of IL per cent from the last quo
tation Union Pacific. Denver and Gulf hrsts
fell to 49, against AZ at the last previous sale, and
Oregon Improvement 5s declined rs per cent
to 497s. Chicago. Burlington and Quincy IS were
"a per cent lower at l22 Phadelphia ana h s,,
I'M; first preference incomes Were more active
and after touching % closed with loss OF =
per cent at 80 while on small TRANSACTIONS gen
eral Is los. :, 1t Dc. Missouri, Kansas and Texas
to a. Lake Shore coupon hrsts were in de-
nand at gain of y per cent at l2i. Northern
Pacific cOnsOs active. gaining the frac~
ton at 2SS., and Texas Pacific frsts were y per
cent better 1T 1917. The market was Irregular
but the general tendency was downward Ret-
ercnce is made to our full report Of bond sales.
Money on call was without new feature, lend
ing at per cent
The Clearing House statement was as follows'
Exchanges. 500. GIL 47 balances. $.4Oo,52s.
The Sub-Treasury was debtor TO the Clearing
House $56l 9SS. Its net gain on balance to-day
was $3.50 49, made up by gain OF S2I9.3io IN
currency, minus a loss Of s2S.S5s in coin. Inc
days operations covered Receipts. S32o3o--
payments, $3.002.54o. resulting in general
balance Of 500. $50. 26O consisting Of ssl.sSo4V
coin and SOS 1885, 100 currency.
The United States Treasury at Washington re-
ceived to-day $42OS92 National bank notes for
redemption
The customs receipts were s967.5l7. the Internal
revenue receipts SlS3.5Si and the miscellaneous
receipts. s21.645.
To-days Washington Treasury statement Oh
cash hand and deposits In bank compares
with the figures OF the last previous statement
as follows: ..
Net gold hand. So. 195070 Ss2o24 100 Dec si'o->'
Net legal tenders ,,,,,a
+; s,v., go p Tss 1855
ACTUAL cash In the
Treasury vaults
over outstanding .o,, ga
deposits in bank III ms 100 II $4,000 Inc. l54soS
Net cash bal -. sio4 0is siOa7 ESQ Dec. s5se0
Owing to the diminished demand for remit