New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-06-27
CLOSING PRICES OF PHILADELPHIA srocYs
WHAT WAS DONE IN STOCKS.

Tuesday, June 26-p m.
The public renewal by President Cleveland Of
his pledge to exert his power TO maintain the
parity with gold OF all the money issues OF the
Government sufficed to cause d rally in the stock
market to-day. Yet the moderate extent OF the
advances and the trivial amount Of the total DEAL
ings Cess than 1Ol. 900 snares) were comprehsn-
sive commentary upon the character OF the i'm
provement. The speculation enjoyed no wider
interest. and the covering Of short contracts was
not backed by renewed investment purchaser
Mr.. Cevelards announcement was not out OF
place but II was marked by a complacency
which is not shared by wel-informed bankers.
Unfortunately the utterances OF the President In
themselves indicate the purpose OF the Admins
traton to pursue further the policy OF make
shifts which has done so much to bring the
Treasury to its present straits. Temporizins
with a deficit never solved problem OF thn
nature. The implied reliance upon the New-York
banks to remove difficulties which an incoms
petent Treasury management cannot cope with
may prove TO be a broken reed. There is neither
sense nor sound financing in pouring money
through a sieve. The banks are the custodians
OF many millions of gold which they have no
more right TO dispose Of 70 the Government WITH
out quid pro quo than they have TO give 70 an
insolvent citizen. That gold is anxious LOT
should be held in reserve for that purpose tnan
that II should be empted into the suo-Ireasury,
while a ike amount is going out for shipment
out OF the country. No practical result VIII toi-
low Mr. Clevelands statement. The treasury
situation is left where II has been since 'he
forced loan Of $50 900 000 and II VIII daiy press
for a satisfactory treatment in spite or the pres
ont remarkable absence OF appreciation on me
mart Of the Administration. At no time did more
significance attach to the provero that delays are
dangerous. -, - an
The transactions in stocks to-day were un-
evenly distributed. and in only Few instances
rere last prices more than A trine better IMAM
onening figures The sentimental influence
which brought higher London quotations anu
gave some vim 70 the initial trading here was
not equal 10 more serious work in the market
Chicago. Milwaukee and st. Paul was the ieade.
OF the speculation and its net gam exceeded
ner cent A similar advance in Erie was due
mainly 10 the refusal OF the Court - enjon the
issue OF the new reorganization bonds. Win
gain OF nearly per cent in Lake Shore the Hst
OF important changes Is exhausted Ine MUS
trial stocks as a rule. were little higher IMAM on
Yesterday General Electrics advance rom So1
10 36rs136i. was due u special causes II Is oe-
coming more generally known that me COM
PAWS business has been increased by some new
valuable contracts. and that its finances arc
RAPIDLY showing Improvement. chicago OAs
suffered from further realiZations. but IN INC
afternoon the price made a substantial recovery
The market closed firm. bur devoid OF animation
THE DAY IN THE BOND MARKET
Government bonds wer- ~cglected At the s'osH
Exchange. but the ASK .tces OF some OF Ihc
gold issues were sha1e lower Final quota
az fDllDNS.