New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-15
BIG RECEIPTS OF GOLD.
CONSIGNMENTS OF THE PRECIOUS METAL
POURING IN.
a PREMIUM STILL OFFERED FOR 1.-THE CUR
RENCY DEMAND-DULL TIMES IN
THE STOCK MARKET

THE STOCK MARKET
The effect OF last weeks unfavorabe BANK state
ment was apparent in the temper OF wall street
dealings yesterday. and there was little spirit TOT
the resistance OF professional stock manipulation
This was the result of the disappointment lett
on Saturday when the bank averages failed TO
show the expected benefit from gold iinportauohs
and increased circulation. in the absence Oh an!
prospect of immediate legislative action 'he soiu
movement is the most important factor looking to-
ward Improvement in the situation. The extent OF
the movement and the extent to which the business
community will actively benefit by II are not at
all certain however. and indications OF the iodg-
ment and effect OF the precious metal are eagerly
md hopefully watched for. The stock market Is
nv force in a waiting mood. Dulress reisns, ana
,dec,ded fluctuations follow small transactions
while the business the day shows meaere totals
The premium offered on gold to arrive yesterday
was IL to ia per cent and under the influence o'
Ybis premium the ratio Of exchange advanced TO
4sshG4s7jk. No engagements of gold AT these
figures were reported although further large orders
are probable In the mean time the ultimate des-
tination of the gold now arriving is not clear Inc
commercial banks are manf@stly not Dehehuhg pN
Il to the extent hoped for. Much OF 1t has gone lh'o
the savings banks and large share has gore
West The fact. however. that so much OF the sou
aaoat and arriving has been purchased at pre-
MUM should indicate that II Will quickly get hi'o
general circulation. and. of course. find its way
into the banks of discount
81 100000 In gold consigned follows: i573O to the
Canadian Bank of Commerce 49, or 70 the Aneri-
can Express Company. 100000 to Drexel Morgan
& Co.. and f1s 200 to John Sinclair. The Normahule
brought 100000 TO Barring. Magoun CO. from
Peviro Mercet & Co. and slO3OW TO HeldelDac"'
Ickelheimer & Co.. from Allard & Co The Ems
which sailed for this port on Sunday carries 81
$4,000 In gold, and the Lain. which should arrive |
tomorrow night Thursday. carries f'oo"V' Inc
Yucatan from Havana, yesterday brought SSo"oo
in SPANISH gold. The consisnments on the Auraha' |
the Normandie and the Yucatan bring the amount |
of gold received last four weeks up to about
sls0OOOOO The total for the year to date is about
$4,000 900. against total exports of Sto6sSV~ Inc
records of the Assay Office showed $Jo'iVooV IN
gold on June so, $56'cOo0oO on July 3l and s62oo'-
900 yesterday.
The demand for currency light yesterday
morning and the premium eXscted by money
brokers was IL per Heavier calls for sup
plies later in the day put the figure up 10 zis per
cent, with exceptional sales at per cent DIS
patches from Washington said that the totai cir
cuation ordered by the banks amounted now 10
more than s250OO,OoO The Government presses are
issuing this as rapidly possible and this with
the incoming gold is counted upon Tor much-
needed relief TO the money world.
No Clearing House loan certificates were issued
Yesterday and none was cancelled The Sub
freq srry was debtor at the Clearing House S26sOVO
which 1t paid mostly in gold. 1t paid out, over the
counter, s59OOOO Of which $4,000 was in silver dol
lars and the most of the remainder in gold Inc
exchanges less than 100000
General Electric Of the weak spots IN
the market 1t opened at Az and sold down to
3s7s with the usual crop of rumors that seem 10
cluster about the stock The final quotation WAS
4OI1 a net loss Of "A points 1t stated that the
plan for the funding of the floating debt OF Ac"oo
had taken the shape of a new company which
would be entirely distinct from the General EecTlc
Company The new company will have 100000 in
common stock which will be issued as a bonus to
the subscribers of 100000 of preferred STOCK
which will be offered par. 1t was said that the
preferred stock had all been UNDERWATER or other
wise provided for.
Chicago Gas also developed renewed weak
ness showing net loss the day Of 2lz points
from the opening. which 52iR. The decline
seems to be due TO statements of the officers of the
company which indicated that the September
dividend would not be paid, owing to the use OF
earnings for construction.
Northern Pacific weakened under continued iqu-
dation The bonds dropped lh02 per cent The ,
preferred stock showed net loss OF point al ls
after touching ia. and the common stock sold ,
down from CO, Us, closing at g. The treasurer OF
the company wes quoted saying that 60 per cent
of the subscriptions to the syndicate fund for the
Other stocks showed mild fluctuations. and the
entire recorded business for the day at the stock
results of the day showed general declines
The recklessness with which reports OF the cur
In the report that the Chemical National Bank had
refused 20 cash comparatively small check drawn
emphaticaliy denied by officers the bank. The
fact that the seamen's Bank for Savings had re,
also started some gossip inquiry showed that the |
bank had simply cohiornled TO inc usuai ruiz oi
checks not drawn on New-York city banks or not :
some one personally known to the bank officials
This rule arises from the custom OF savings banks
TO refuse TO become collecting agencies.