The morning call., 1894-11-23
New York Markets.

NEW YORK. Nov. Misconceptions for an
amount greater than the entire issue of $50 000,-
OOO OF Government fves win De made by a num-
Der of bankers and OIL her financial institutions of
this city, including some foreign capital. This
was decided to-day after number of conferences
and IT WAS settled also that The members of this
agreement should make their BIDS separately but
at exactly the same price. This action tnsures the
success of the loan which is now certain to be
oversubScribed. The figures at which the bankers
In the agreement Will bid for the bonds Is not
10 abe public but it is understood will allow good
profit to the Government.
Some of the banks who hold the largest gold
reserve have agreed to furnish gold TO subscribers
10 the loan to the amount of $4,000, 600, ana
other banks ann ounced that they would supply
their customers with all the gold they may need
for the purpose of the loan without drawing upon
the United States Treasury. Gold is being shipped
from San Francisco and other cities OF the Union
and from Canada to this country for the account
OF intending subscriptions to tue loan, 81, ooOoUO
alone coming through the Bank OF montreal IL
is to be from this the situation is brighten
ing and It is fair to assume that as result OF the
loan the treasury reserve will be brought up to or
very near the $lOOOOO,OUO mara MOI until
about the close OF business the Stock Exchange
to-day were the circumstances made pubic, and
| the current speculation was not lnnuenced
thereby.
AT the opening OF business the market was strong
| In sympathy with the improved tone of Amerl-
can securities on the LONDON Exchange, and there
was foreign buying of the International stocks,
| both Of which facts led to covering movem enG
on the part OF the shorts and sent prices upward
fraction, the Grangers joining In tue procession.
| The market however, mad not recovered from
the shock OF yesterdays scaling OF the Burlington
| dividend anu the consequent break in prices and
| the advance or this morning WAS not maintained
| long. \ reaction followed III which the gains
were almost entirely lost. and throughout this DAY
the trading was irregular, recOveres and declines
followed each other III rapid succession up TO the
| close, which was marx ed by Depression The final
| trading being quite heavy in tone.
The Erangers attracted The chief speculative at
tentIon and were very largely dealt In. but huctu
| ated within much narrower limit than on yes
terday. Burlington rose p, reacted IS, advanced
| Us. closing "A below the highest and 81 up on
the day. ST. Paul moved within a range of 70 aud
| shows gain of IS the day. Northwest ad-
! vaucsd ~. but attacked by the bears on uu-
favorable reports to the forthcoming dividend,
which ii Is claimed will have to be scaled, have
kock Island and Burlington. Heavy selling caused
a break in the stock of l "A, with rally %
per cent of which IS was lost AT the close, max
| ing decline of IS the day. Rock Island sold
! up Is and reacted IS, closing 3s higher than
! yesterday. Sugar reeeded "A, advanced 81. broke
3l2 on clique selling with only rally of IS show
ing net loss OF , Is: the preferred is down IA
Pullman broke 512 per cent on the liquidation OF
a block OF stock at a time when there were no
supporting orders: sales OF the stock were made
AZ l5lAa seller, against 1853 regular. Cordage
! common tell of 10 but recovered /.
The bond market was generally firm during the
daY. The Atchison issues were heavily sold aud
BETRAYED weakness, Int In the final dealings they
scored slight recovery. Those securities figured
for 1896 600 In the transactions out of total of
81 $4,000 for the day.
Government bonds firm for fves and steady for
the Others. state bonds inactive. Railroad bonds
firm except for the Atchison issues. Petroleum
steady; Pennsylvania oil. sales Rone; December
option, sales none; closed SzIs bid Lima oil,
sales none.