The morning call., 1894-06-20
New York Markets.

NEW YORK, June l9.-The action taken by the
New York City banks this afternoon, in deciding
to furnish gold for export as it may be needed,
without resource to the United States Treasury,
Will undoubtedly have beneficial effect upon
the stock exchange markets. 1t WILL however,
be largely sentimental inf uence, for the fact is
the gold export business has about reached an
end, and any further drain upon the treasury, had
the banks continued boarding specie would ne
cessarily have been light IL is probable ro-dsy's
action was based upon the onelusion the banks
would not be called upon for gold TO any large
amount But perhaps the most pot ent reason for
this reversal of policy by the city banks was
fear that the country at large would look with
disfavor upon the spectacle of the heaping up OF
an unnecessary large gold reserve in the metro
politan banks. while the United States Treasury
surplus was being depleted and had reached an
unusually low point. But whatever the motive,
the decision of the banks to supply gold needed
for the immediate future will undoubtedly have
the effect of inspiring confidence in speculative
values and is likely 10 be reflected in increase
OF activity on the stock exchange. There is need
or something to put life in the share market
Yesterday was dull. to-day was dull; but the trad
ing heavier The market opened quiet and fairly
steady, but Union Pacific was "a and Sugar 10
lower. In the earlier dealings a better tone pre-
vailed, sugar selling up Is, Chicago Gas -, and
some other shares a smaller fraction. The i'm
proYement vas not however. lasting, and under
slight pressure to sell, prices toos downward
turn. Northern Pacific preferred declined 49,
Oregon Short Line and other shares 1sGj4. An
attack was made on Union Pacific by the bear
traders IN the hope OF bringing out the long stock
and they were partly successful, for the shares
broke from l21a at the close yesterday 234 with
only rally of rs at the close, making a loss of
23s on the day. Rumors were put In circulate
that there would be heavy stOcE assessment un-
ele - eoI pan, ano tnat Tue uhite1
States Governme would force the payment OF
the Pacific Railroad debt
Very little was done in the general list between
II and y 80 and values changed slightly during
that period, but as the afternoon advanced the
speculation became depressed, Distiiling reced-
ing 49, Erie IA, Pullman and the rest OF the
list a fraction. About O'Clock a still further
decline was recorded of rs in United States
Cordage and from q down in other shares. A
slight rally followed on the covering of short
tracts ana the market closed steady
he bond market was steady in the morning.
but became heavy in the afternoon and closed
weak Government bonds firm. State bonds
dull Petroleum, STEADY; Pennsylvania oil sales
none; July option sales none, closed se1A bid;
Lima oil sales none.
GRAIN AND MERCHANDISE
Wheat-June. 615sc.
Flour-Steady.
Hops-Quiet.
wooI-Qulet; domestic fleece, 10000: pulled
PIeiron-ouist.
Lead-Quiet
Copper-Quiet.
Tiu-Steady; straits. Sl9 So; plates quiet; spell
ter firm: domestic So 371a sales on Change 25
tons. November Tin. $l9 65; 20 tons, sellers OPP
ton, $lS IS.
Cofee-options opened dull, at unchanged to 10
points decline. ruled inactive but steady local
points decline. sales. 1900 bags, Including: Au-
gust. $l4 55@I4 so: September, $l4@l4 O5; Oc-
T.
Spot Cofee-Kio steady. No. 7, 1910; mild,
quiet: COrdova, 19@l914c. Sales, 1000 bags; Cen
tral american, 6VUO packages Costa Rics; $500
packages Maracaibo.
Santos = quiet; good average Santos. II: re-
eeipts. two DAYS, 5000 bags: stock. 10 900 bags.
Hsmburg-Opened steady: closed quiet. Sales,
$4,000 bags; prices, unchanged TO "A pig higher.
Havre-Closed 14f lower TO 12t higher. Total
sales II, 900 bags.
Rio Firm; No. 7. I5S7OO: exchange, Gid.
Receipts for two days, 10000 bags: cleared for
the United States, 1000 bags; STOCK $50 900 bags
warehouse deliveries yesterday, 12,ll5 bags;
New YORK stock. los 58l bags United states stock,
1853 ia bags; afoat for the United states 142 600
bags. Total visible supply for the United States.
305.ll4 bags; last year, 490552 bags.
Sugar-Raw, firm; fair refining, 2 l1-1602hc c;
centrifugal, SO test. 31se sales, 93s bags Mus
covado SO test l1-16c; 276 bags centrifugal SO
test $3.50.
Refined-Quist; No. 8, 3lI-I6@37sc; No. 7.
3 9-l6G3s4c; No. g, 31e93 l1-l6c; No. 8, 3 7-l6
@35sc; NO. 10, 5I6CG519c; No. II, 3 1l-16(0
7-I6c: No. II, 3 3.le@53sc; No. -. 2 g. 6c:
mold A, 43s@5 1-16; standard A, 3 l4-16G41sc:
confeetioners A, 15-I6941se; cut Loaf, 41s0
1-l6c; crushed, 47s@514c; powdered, 4$4 a
9-l6c; granulated, Il-16@i14c: cubes, $40
cd 9-iBc.