New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-05
THE STOCK MARKET Strong.
CONFIDENCE IN THE SUCCESS OF TIE
sOUND-MONEY CAUSE INCREASED.

The effect of the declaration OF the lndinnapohs
Convention on the money question was plainly ie'
I'm the financial community yesterday Inc gem
eral comment that II would nave peeh oe''ei
for the sound money Democrats to have joined OUT
right with the Republicans to secure Mckinney
election, but II agreed that the Indianapolis
ticket would at least serve TO record the hohes'-
money I'm the Democratic ranks. and TINS Vo'e'
added to the Republican vote. would show now
overwhelming the sentiment oil the country
against free silver and the Chicago platform. Henry
Clews said:
If there was any doubt as to McKinleys cleo
ton before the third ticket was nominated yester-
day, the of that movement certainly now
entirely removes It,
The stock market strong. Some OF The net
advances American Cotton Oil. preferred. rs
American Sugar Refining, 3 American Tobacco
rs; Burlington and quincy. 2as; Chicago Gas. lHs
Colorado Fuel and Iron rs; Consolidated Gas. 1ls
Erie first preferred q Illinois Central Ia; Illinois
Steel lss; Iowa Central. preferred. IA Minneapolis
and St Louis, 1ss; Minneapolis and ST. Louis. first
preferred, go; New-Jersey Central, Pa; Northern
Pacific /: Northern Pacific. preferred, rs; Reading
~ Rock Island ?. St. PAU. IA. St. Paul preferred
/. Southern Railway, preferred. !; Leather pre-
Arrivals OF gold by the Augusta-victora of the
Hamburg American Line yesterday were soiZ,o'o
francs for Lazard Freres 136vC0 flames for l.. Won
HOFFMAN & Co, 100000 Tor Heidelbacn. lickel-
heimer q CO.. ana 100000 for the British Bank OF
North America or $4,000 altogether. The total
arrivals of gold to date are s7.02O.5oo.
The Bank of France VIII not sell American eagles
for export present. Ii is stated by the head OF
foreign banking house that the Bank : reason for
doing so is that the exchange situation does NOT
demand that France should send gold TO the United
States at this time. " it'll the London check al 20
francs, II or ~ centimes II Is shown that lhe pa
Is against London. Therefore, the Bank OF
France holds that IL Is justified In placing obstacles
In the way of gold leaving France, for London IL
clearly the proper centre from which 10 ara" goiu
All the European exchanges, or practcally all are
against LONDON. The opinion is ventured that when
the exchange market IN Paris shows that france Is
Indebted tn
requiring gold exports-which will probably be In
dictated first by advance In sterling at Paris-thc
Bank of France will make the best terms possible
with exporters but will supply then with IN" gold
they require. In past years as high as a six-mlu
premium has been paid to the Bank of France on
gold intended for the United States The bank
has been known occasionally to charge per cent
premium for Napoleons for export, and. OF course
the result to drop exchange corresponuihgiy III
the importing country.
Iazard Freres yesterday deposited $l,'J0VO IN gold
In the Sub Treasury in exchange FOR leKal tenders;
George Coppell, OF Maitland, Coppell Co, VINO
has returned from Europe. said YESTERDAY; Il was
sorry TO find in Europe such an unfayorable feeling
toward the United States In the matter or invest
ments This has grown out of the many cases OF
bankruptcy here OF railroads and the feeng OF IN
certainty In regard to our money standard W nile
at Amsterdam my friends told me that large
amount of Dutch money had been placed In de-
bentures based upon farm mortgages In Austria
and Hungary al the low rate OF 3i2 per cent, simply
because they were looked upon as certain 10 be re-
maid I'm gold We ought to have had that money
aowing to the United States. Instead of money
coming here however there Is still strong as
position 10 sell securities, especially mortgages
and debentures based on real estate. ised my
best efforts 10 induce my friends not TO sell IL IS
certain however that well-informed people there
will invest money here II the gold STANDARD Is main
tanned"