New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-29
THE VOTE SENDS STOCKS UP.
IMMEDIATE EFFECT OF THE LARGE
MAJORITIES IN THE HOUSE.
LARGE IMPORTATIONS OF GOLD AND OTHER
CONDITIONS HELP THE MARKET.

vesterlav tho news of the ma iorties in the House
| OF Representatives against the Bland amendments
| TO the Wilson bill and In favor Of unconditional
repeal Favorable action on the part of the House
had been discounted so that that alone could
scarcev have overcome the tendency toward
reaction from the good feeling which marked the
close OF last week. 1t was the size OF the MAORI
| ties which contributed the new and buoyant ele-
| ment and II was not until those majorities had
been licked off upon the tape that values took
an ,nvard turn The votes on the amendments TO
the Wilson hill and the bill itself showed such
surprising strength of the sound money men as
to call forth "A chorus OF eNcianations OIL era'nei
surprise from those VINO nave Kept ahAou' e'''
| upon the financial horizon ,
! There were other factors that tenoeu 10 " Jun
,narLot ,bouoh minor in Importance In COMPARE
son with the action of the House OF REPRESENTATIVES,
! Gold raceipts were heavy. amounting W aoou' SiV'
| 600 ono of which however. N0OVO was only Trans
for from tho Treasury at San Francisco TO the
Sub-Treasury in this city. No premium was oneieu
on gold TO arrive and the premium on current! oe-
came ut,le moro than nominal. ranging from a 10
| /, Of one per cent, with few TRANSACTIONS d. oi
one per cent. The net results Oh wv ""' ~ -,
stock market showed general advances WI" ''e
clos;nc NJ or near the highest hsures OF ue'insS
! in = little mora than 10000 shares. honuS u ''e
, al,,e of q 800 900 were dealt in. with important
| advances I'm prizes. u
| The tenor Of expression on the ihpo ~
| deyelopment Of the day is here shown D. EuMa,u
|
said: , a
| IN favor of unconditional repeal OF the sherman
| law are a gratifying surprise Ihat 'ne'e "'''' "
substantial majority for honest "o"e' va" =
| pected but that the majority wouid De 81 Ia
| a SUNRISE and indicates that the ranks OF 'le -"
| yor men are breaking The action OF the Rouse
| can scarcely fail to have an importah, e"'o. -"
| tho Senate The repeal OF the Sherman law which
| now seems SO certain. will be the hrs' stuart '""'
renewed confidence and prosperity ana III NY op'"
| ion will hasten international bmetalsm. No" u'"'
this country is about to cast OF the SnNer ou'
II has been carrying alone other nations VIII pe
| Obliged to join In a movement 10 'a"' ~ -
| load by international agreement
| Henry " Cannon. OF the Chase National bahK'
| said: The surprising majorites IN the fiouSe ~
dav Indicate that the people are rea'Hihs u'' u'e
| silver law Is imperng their Industries Inns l.
| moot gratifying thing. and will. beyond DOUBT nave
g-oat weight with the Senate. muItipNhs ''e
| chances of unconditional repeal in both brahches
| of Congress- Another and an important erect VIII
no a restoration of confidence abroad. to-days
action indicating that the United states VIII soNe
| the financial problem upon SOUND OASIS
| Frederick -. Happen. OF the Gallauh Nauo"''
| expressod his great satisfaction with the uheN-
roctodv favorable action OF the House. as dd also
| Rravton Ives president OF the western Nauohd'
Henry chaplin jr. the cashier OF the Ihlru "a
| tional Bank. Is now in charge OF IN" "a"N !" e
| absence OF it's president, y ~ iePpuiH' "'e W.
| m.r Controller OF the currency To Tribune re-
| porter Mr. Chaplin said. few minutes after II hah
| hcon announced that the repeal bill hai beeh
| passed by the lower House of Congress: vi
| course W. expected such a result, ana we "ouu
! have been disappointed II IT had been otherwise
| expec, this action will be beneiiciai lmmeila''S'
| We will b, disappointed II it IL not. The Dill was
| ma ssed TO improve the situation and II VIII 90 80
| Horny Ccws said to a Tribune reporter:
.The unconditional repeal OF the purchase cause
| I'm the sherman Silver law In the Rouse ny Il"
| majority will take the measure to the senate UNI
| dor a tremendous Impetus. and should make snort
| work Of IL with that body, because the vote In
| ,ho ,ouse represcnts the unmstakable voice or
! the people OF the entire Nation. Inc mere an
| ticlpation OF unconditional repeal mas "''h" '"e
last few days caused distinct signs IN the Interior
c,,i.s ~ a more decided turn toward recovery from
the recent panic than has even yet appeared ~
this centre. This applies especially to "eS'er"
| cities
Tho eold imports which reached this city yester-
| dav were the consienments brought by the tam
| panla amounting TO about N%"7r' La boursosne,
| which carried about $4,000. OF which about s'"v"
| vas consigned to express companies TOT 'he "C-
| count az several Chicago banks. and the steam
| shin New York which brought N""". large
| amount Of the new bank circulation arrived from
| Washington. and the receipts are eAp'c''d 10 w
| heavy for the next two weeks. NO additiohai
| Clearing House certificates were taken out. There
,r,s g, report that si5OoOcO Of the amount out
standing would be retired at the meeting OF 'he
| Clearing House Committee tomorrow but II proven
| to be without foundaton
| Tho c,,, Treasury WAS a debtor at the Clearing
| House TO tho amount OF $1,000. when IL paih III
cola I, Maid ont 81 5000 the counter largely
IN cold OF this almost 100000 was to cover As
| say Office checks. .
| TvQof the stocks in which advances were most
marked yesterday were National Cordage anu
New.york and New England. National 'ordage
| Of oM
Saturdays close This was attributed TO the state
| mon, made by the United States Trust Company
| that all the assessments on the W per CONT y,
stock deposited under the reorganization pan ha'
| been paid The work Of rehabilitation Will Is
| nron,lscd now be pushed forward New-fork ana
! New England advanced under "A renewal OF the
| ,onort tina, Russell Sage to come to the aid
| NJ 4 4 Mcleod In his plans to extend New-Eng-
| lands connections The stock opened AT Z"'s ana
| closed At 2g7. Northern Pacific preferred also
| showed a new gain for the day OF two points CLOS
| ing at 22i..
| +, sr,ou denominations by certain Southern cities
| for actual general use currency have reached
| this city This one type OF all, Is neatly
nrin,od on paper somewhat larger than the or
binary bank hill. and reads as follows
Atlanta Clearing House Association Certificate,
| Atlanta This certnes that the banks compos-
ing the Atlanta Clearing House Association have
deposited with r. j. Lowry. Paul Romare and G.
| A. collier. trustees of said Clearing House Assoc
citation securities To the value Of 81 20. TO secure
| 10 The bearer hereof the payment of s. In lawful
of the United States. payable on or before
the first day Of January, 1885, This certhcate IS
issued in accordance with the proceedings Of
meeting of said association held on the l9th
| day of August. 1873 and Will be received on de-
| post or in payment of debts due any bank In
| said Clearing House.
| THE IMPAIRMENT MAY BE MADE GOOD.
The stockholders OF the Madison Square Bank
| will hold a meeting at the bank to-day at p m
| Some OF the directors were In consultation at the
| bank Yesterday. but nothing could be learned ex-
ccp that President Blaut expected to announce to-
day that all the money needed to make up for the
| impairment Of the banks capital. about $4,000 had
| been subscribed.