New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-20
LOSING PRICES OF CHICAGO STOCKS.
CLOSING PRICES or sAN FRANCISCO srocxs.
ON THE STOCK EXCHANGE.


Wall Street houses which are not controlled by
the Government bond syndicate are growing I'M
patient over the continued high rates for sterling
exchange and some OF them have made arrange
ments TO meet the demand for remittance by
shipments Of gold. The first large export OF gold
since last winter will be made tomorrow by n
commercial house. and the same firm OF bullion
brokers which made a small shipment last week
will again send out an insignificant amount As
stated in this column this morning. the syndicate
has been asked to reduce It's rates FOR exchange
under the threat Of gold exports. but II has re-
fused 10 alter them. II will continue 10 furnish
bills to all who want them on a basis or - 30 Tor
demand exchange and there is no prospect that
the market will ease to any extent until natural
causes force II 10 do So II must be remembered.
however that the exports OF gold VIII not drain
the United States Treasury Tor the syndicate SUI
stands pledged 10 protect the reserve ana II mas
the best Of facilities for doing The gold taken
to-day for export was furnished by the sub
Treasury and will bring the gold reserve niue
below Sl05 800 900. The withdrawal OF gold ana
its expectation abroad are having no erect upon
the sentiment In the Street. for the nature OF the
shipments are understood, and the recovery from
the Industrial and financial panic OF two years
ago il founded on conditions which have made
the financial community and business circles in
general confident and unwilling 10 believe that
small movement Of gold abroad Will anect the
Treasury or cause the fear II did year ago TO
outsiders II seems that the general situation
would be materially benefited II the syndicate
would lower its rates for sterling excnahBe. ana
there Is no doubt that the security market would
show an immediate tendency to advance II lower
rates prevailed. but as has been SAID perore. the
syndicate evidently understands It's business ana
is conducting It's operations to meet It's own ideas
The syndicate has about SIG, 000. 900 gold at It's
command in Europe. and II can call upon the Dig
gold holdings Of Its members among the New
York banks II 1t should De compelled 10 pfo'ec,
the Treasury 1t Is doubtful. however, II the gold
exports will amount to enough to bring the goid
reserve below $103. 900. and there should be no
fright taken at few unimportant commel a!
transactions In the precious metal The ilrst
amount of gold furnished by the Treasury at the
beginning OF an export movement Is the poorest OF
the stock. and all the gold which has sSnere :,
from abrasion is thus turned out first. and so II
is probable that the loss sustained by the ex-
porter from the poor gold will bring the cost OF
syndcate's rates for bills
The announcement Of large gold export Tor
tomorrow had no effect upon stock values ana
the market showed no important changes from
yesterday. Trading was purely professional ana
extremely dull at that. and total transactions
amounted TO only ITO. 1871 shares. Outside OF the
Industrias and Reading. sales were confined as
a rule TO small lots and there were few stocks
where the total transactions amounted to over
1000 shares. There was a small net advance In
Chicago Gas, and there was an indication that
some interests were buying the stock who believe
that a concern which provides gas for big place
like Chicago will sell good deal higher than
b2A, Its closing price to-day There were also
reports that the Standard OIL interests were
again picking up as much OF the stock as they
could on the theory OF an advance. The general
railway list made slight concessions. the Grang-
ers being fractionally lower on moderate LONDON
selling and efforts to take the small profits pos
sble. The anthracite group. with the exception
OF Reading, was inactive. The banking interests
which are investigating the coal troubles win
view to their settlement have made no announce
ment and the only development In connection
with anthracite affairs II the appointment OF
committee by the individual operators to consult
with the presidents Of the anthracite producing
and carrying companies regarding the unratis-
factory condition Of the coal trade. ~ the close