New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-25
A GOOD DAY IN THE STREET
40 SIGNS OF DISTRESS OR DlsrRusr.
p,rRPoNr MoRGANs VISIT TO WASHINGTON
soNp ISSUE TALK HAS A REAssuRING
EFFEcr-GAlNs IN VARIOUS


EfFECT-oAINs IN VARIOUS
SECURITIES
There we're no signs of distress or distrust in
xr.u Street yesterday. On the other hand
..u,ething akin to a boom was witnessed In the
.,,ck market. The conclusion seemed to have
s.sn reached that whatever the differences be-
Green the United States and Great Britain there
las no probs bility Of a clash OF arms At any
ate the war talk had entirely subsidized For
.rother thing II was accepted that the Treasury
.o,d reserve would soon be replenshed and that
On. country would unquestionably be kept on a
gold basis
At the same time IL was plain that the Euro
,.ar feeling on American securities had under
sone a change for the better. for the quotations
for Americans on the London Stock Exchange
xhich were received before the opening of the
ysw-York Stock Exchange were generally
higher than the closing prices in New-York o.
Monday. Aside from the attitude Of London.
me Wall Street operators were imbued with the
idea that II was not only not good time to be
short of stocks. but that II was a favorable time
70 be long Of them. and they started in to buy
AZ soon as the chairman's gavel fell as a signal
for business to begin on the Stock Exchange.
The advance In values continued almost with
out interruption until the close of the Exchange
There some trifling reactions in a few
stocks in the last half-hour. as a consequence
Of proft-taking by room traders and other pro-
fess.onal spectators. but there were many
stocks which left off" at the best figures of the
day The net gains for leading shares were
American Sugar 3h. Bay State Gas 3a. Bur-
lngton and Quincy ia Chicago Gas 2%
Big Four "a Consolidated Gas 3, Della
ware and Hudson 4. Erie preferred @ Gen.
eral Electric ia. Illinois Steel III, Kansas and
Texas preferred .. Lake Shore H. Long Island
Traction 1as Louisville and Nashville Q Metro
potan Traction pa. Missouri Pacific g. New
Jersey Central IL. New-York Central y. North
west 2ls Omaha common 2. Omaha preferred
a.. Pacific Mail 1s.. Pullman Palace Car Q Rock
Island 2ia. ST. Paul ga, Southern Railway pre-
ferred 2i.. Tennessee Coal and Iron 21a Wabash
preferred rs. Western Union IL and Wheeling
and Lake Erie preferred Az. The rally in bonds
was almost as pronounced as in stocks. The
total sales of stocks were 339174 shares. and of
bonds s.. 900.
FOREIGN HOUSES BUY BACK ST. PAUL.
Not few of the foreign houses bought back
ST. Paul at g. and Louisville and Nashville at
a. which they sold on Friday and Saturday last
at g. and AZ respectively. There were circum-
stances Of interest connected with the pur-
chase of these stocks. When the houses sold
the socks they were paid for them with checks.
They took the checks to drawers of sterling
exchange and tried TO buy bills on London with
them The exchange dealers said they could
not take the checks in payment for their bills
They must have greenbacks. which could be
utilized in obtaining gold coin from the SUD
Treasury or gold bars from the Assay once
Then he effort made TO get greenoacKs
for tn. checks at the banks. but II was unsuc-
cessful There was now nothing left to be done
except to repurchase the stocks which had
been sid. The checks could be used in paying
for han. but additional checks for s. a share
for St Paul and 81 share for Louisville and
Nashville had to be supplied. In several IN
stancesthe foreign houses bought from the very
brokersto whom they had sold. and the cheeks
that hal been made out to them were indorseo
over 10 the issuers and never passed through
the Ce,rng House at all. In the neighborhood
of 100000 was lost by the foreign houses IN
ST. Pat and Louisville alone by their inaoiiity
10 utilize their checks in buying bills of ex-
change They had the same experience IN other
stocks nd in bonds. and their aggregate losses
were pobably somewhere near $2oo'coo.
The ighest rate attained by call money dur
ing tbeday was per cent The rate which pre-
vailed the better part Of the day was per
cent. rhe last loan was made at per cent.
The banks removed their restrictions on loans
IN a cosidera BILE extent and borrowers found
no realdificulty in obtaining money. The Loan
Committee Of the Clearing House held meet
ing it will every day. but no bank called
upon 1901 loan certificates
The MY unfavorable feature Of the SITUATION
was rise in sterling exchange. DEMAND pliis
got upto 80 and cables to Az AS the ira,iH
OF Enaands charge for soVereighs was I'll ~,
the diference was held by bear spectators 10
he remiuin on gold. The exchange houses
did noiloo at IT in that light. Tney KEEP thel
cables high because they Wisheu 10 a'oiu MGR
ing rehittances of such character. anyway;
the rae of 4s2 was not maintained The maj
quotation for cables was 49lA TO Sl%'
SOME GOLD WITHDRAWN.
The rate for demand bills was much above
the gcd exporting point that there was proht
in forwarding gold in place of bills. The fol-
lowint amount In bars, were Withdrawn from
the Assay Office for shipment by the Paris to-
day: .azard Freres, s5OO,OOO Barring. Magoun &
Co 100000: L. Won HOFFMAN & Co. S40oVoo
MulIs Schall g. Co.. 100000 total, sl,7OO,oOo.
There was a deposit Of s25O,000 in gold coin
in tie Sub-Treasury by the Natlohal ~,
Bank in exchange for green PACKS so t .lS
the bss to the Treasury was reduced 10 pillow.
600 The gold taken by Barring, Magoun q
Co vas for Kdder. Peabody K Co. or Boston;
The withdrawals of gold for expectation would
have been larger. Except for the fact that
shippers found it hard to procure greenDacsk k
Of large denominations Wit wnlch 10 pay ~,
|, Tbev could get small bills but they would
hav. been obliged to leave them at the Sub
Treasury to be counted. and this could not De
done soon enough 10 enable them TO pldcs
,beir cnne,gnmenfs on board the Paris. Lazard
Freres made an engagement for their gold
early in the day. and subsequently, WITHDREW
IT, because they thought they were nor s0Int
got the greenbacks and renewed the engage
ment The gold shippers presented their green
backs at the Sub-Treasury and were given
orders on the Assay Office for bars. The COLO
Withdrawals brought the Treasury reserve dowh
70 $50. 1855 1876. ,,..o., ,.,.
The information that j. Pierpont Morgan was
In Washington comforting with the PresioeN'
on q new bond issue had a benehciai innu
ence on the stock market. and the Whcie
financial situstion Francis Lynde Stetson, who