The herald., 1894-03-22
FINANCE AND TRADE.
stoeI, N1eh snra Ravlaw.


NEW YoRE, March 2l.-Although not alto
gether a controiling influence of tho speoula-
uon on the stock exchange, the fate of the
seigniorage bill is full OF interest to the street
ana operators, both long and short accounts
trade on their respective theories rs to the ac
ton OF the president. The dispatch from the
executive chamber last evening by the cham
Der OF commerce committee appointed to pre-
sent the memorial adoD Dted against the signing
OF the measure advising that they should not
go TO Washington, was taken by one section of
the operators TO mean that, inasmuoh as the
resolution had been reachel 10 veto the meas
ure, 1t was unnecessary for the committee TO
MAKE the journey. On the other hhnd, it was
arggested that the president, having decided to
sign the bill, did not desire to speak to the
committee. Both sides OF the session agreed
that either Mr.. Cleveland had made up his
mind TO the course to pursue, or wished to ar
rive at conclusion without the assistance OF
the New York 1nanciers.
belief in the veto caused buying move
ment during the morning, while in the after
noon the early purchasers became sellers.
There were other factors besides the eeignio--
age bill which affected special stocks and sym
psthetioally tho entire market. The sugar iu-
terests profess TO regard the sugar schedule in
the senate tariff bill with only less favor than
they accepted the house bill aud assert that 1t
does noteive any material protection to rehn-
ers, Az q consequence the bears i'll the sugar
shares are assisted by this argumen in ham
meftng down prices. Reports were circulated
today TO the effect that several prominent sen.
pass, is certain 10 make sugar fEee, but, with
all this, the common stock, after another
break, recovered all but fraction. OF the loss,
while the preferred made slight gain.
tending the conclusion OF negotiations In
progress between representatives Of the disttl-
ling and distributing companies, the specu a.
uon IN Dihtiiling is contracted The feeling
which prevails as to the outcome of the confer
ence naturally restricts buying and the bear
traders are not anxious to put out long lines of
the stock lest they be swamped in boom
manufactured out OF possible agreement be-
tween the rival interests.
~ covering movement in Burlington was the
moving power in the speculation in this stock,
but despite the early purchases Of st. Paul for
the London account, the latter He ling reduced
the advance in the common TO Il, but the pre-
ferIed made an advance OF l per cent. The
volume OF business was lighter than for some
time The bond market was strong until
O'Clock in the afternoon, when reaction oc-
CURED, but in the hnal dealings the specula-
tion became firm again and closed with prices
In the main 4 to "a per cent higher than the
last quotations OF yesterday for the active list.
Government bonds closed firm. State bonds
inactive
MONEY QUOTATIONS..
NEW YORK, March 2I-Money on call, easy
at / per cent; last loan At per cent; closed at
per cent.
Prime mercantile paper-3015ls per cent.
Sterling excharge-Dull with actual busi-
ness In bankers bills at &4.8S31'G4. 80 for de-
mand: $4. 81 for go days Posted rates. "a $50
Silver certificates. 5s7s959ls.
SAN FRANCISCO, March 21.-slght drafts, 15c;
telegraphic zoe.
LOCAL STOCKS AND BONDS.
Los ANGELES, March 2l.--The following quo
tations on local securities are fu nished by the
Pirtle Real Estate and Trust company, no. 229
West Second street: