New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-15
CLOSING PRICES OF CHICAGO STOCKS.
CLOSING PRICES or PHILADELPHIA Stocks
on THE STOCK EXCHANGE.

Thursday. March I'D. IN.
Foreign exchanges and money are again an
interesting point In the market because one. NAV
see therein apparent movements on the part Of
the Belmont Morgan syndicate. It seems certain
| that, as We intimated this morning. the Treas
urer OF the United States. on the suggestion %
the syndicate, Of course. is causing the Govern
rnent's gold now held IN three designated banks
OF this city 70 be transferred slowly To the Sub
Treasury vaults. There IT no longer be-
counted az part OF the banks resources and the
money market must be affected as it IS always
affected when money IL locked up out Of the
reach Of borrowers-it gets scarce and dearor
On March / the Sub-Treasury had credit bal
ance at the New-York Clearing House for the
first time in months. and has had credit balances
there several times since. The calling in Of the
gold from the designated banks. therefore, prob
ably dates from March J. when the Trcasury's
drafts began to pass through the Clearing House
The transfer Is slow because the syndicate de
sircs no violent contraction Of loanabc funds In
this centre. az might have happened If the .l5-
600 900 in gold left with the banks had al been
pu; at once in the Sub-Trcasury. just how much
has been transferred IS not told by any Of the
persons who know The money market has not
been greatly affected. as every one remarks. Dut
our quotations. printed daily, indicate that money
has been growing slightly dearcr since the first
the object which the syndicate managers had I'm
Jew was the indirect effect on the foreign
changes At any rate. within the last few days
the local branches Of foreign banks have been
lending foreign money IN this market cat . little
below current quotations. In the shape u what
IL called sterling or exchange loans This opera
tlon IS as follows The bank gives the borrower
siXty-day bills. which he sells and he must pay
up In two months by furnishing demand bills for
the amount due. besides paying commission IT
~ or course. a gold transaction. Thus supply
or DIS Is created on the market and rates are
Kept below the gold-exporting point because for
rign money will be left here long II be
profitably loaned
ON the Stock Exchange the movement in the
coal properties was the most conspicuous. and
caused a net advance Of "a to SSts. for Central
OF New-Jeisey; to 1874. for Delaware and Hud-
son. ana "a TO l06. for Iackawanna. II was due
70 belief that a solution Of the anthracite coal
dhculues is at hand but there seems to b" no
certain knowledge or this point. FINAL smiH
advances were also scored for the general rail
way list which includes the international special
ties; but an exception must be made for st Paul
winch lost Is net. 10 %. Yet TINS STOCK was
strong all day. Announcement OF reduc-
non in the semi-annual dividend from
70 per cent was not made until after p. M
but this Gu, was expected. and doubtless as
counted. There can be no question that the 81
Paul directors acted wisely so far as they went /
In. me stock was quoted ION the curb iate IN
the afternoon at 55h New-York CentraFs final
advance was II to 347s due TO talk that II would /
suner no reduction In its dividend Tomorrow |
But the best opinion seems to be that it will be /
put upon per cent basis. Nothing was done /
IN me Changers. New England was at 11s net, !
on the prospect that 1t wound speedily be fully |
IeadJus'ed Atchison stock did not reflect the |
movement IN its bonds, based the chances OF /
reorganization. The Industrial group |
was the most active in .he market. and Sugar
contributed 6ooi0 shares to the days total of
i6SV@ shaf"*. II started In ex-dvidend at 100. |
was put up to lOlk. whence Il was allowed 10
drop 10 9sA.. closing finally at 099s-a net loss
Of only g. The other members Of the group were
practically neglected. and their movements ir-
regular. A. the close the market was strong.
BONDS-THE FEDERAL TREASURY.
Cover Tler' bonds sold '22 600 IS coupon at
l15%M1lJis; 10000 as. registered at III and
$4,000 new As. coupon, at llsHQI2O. Closing