New-York tribune., 1896-02-06

on THE STOCK EXCHANGE.


The MAGNITUDE Of the subscriptions 10 the new
Government bonds will undoubtedly cause "A
vast amount Of surprise to the Rothschilds sni
other foreign money kings. who recently ex-
pressed doubt about the success Of the new
loan ~ the bonds were not made distinctly pay
able in gold Home investors know that the
Government will tender nothing but gold or its
equivalent for the payment Of interest and prin-
cipal Of its coin bonds and the result or the
bond subscriptions shows the abiding faith OF
the people Of this country III the ability OF the
Government to meet its coin Obligations IN goii.
This will also be impressed upon foreign III
vestors: It will restore confidence abroad In TINS
Nations credit and 1t Is safe TO say that IL
will cause considerable new foreign capital TO
seek investment IN this country. The BONDS
have been subscribed for more than five times
at prices ranging from par to 12o but the greater
part OF the bids were between l09 and liz. indi-
eating that the allotment Will be made upon
basis ranging from 3 j-l6 to Sls per cent. The
details Of the subscriptions are fully given in
the news columns and 1t Is only necessary to
remark here that the extent Of the subscriptions
was a cause for general satisfaction in the
Street the influence of which was marked in
the security markets. Railway stocks and bonds
moved toward higher prices. and Government
Issues were active and advancing dealings in
the new 4s for future delivery being made as
high as ICY. Call money was higher before the
success Of the subscriptions was announced
reaching per cent. but later in the day money
was freely offered at per cent, and at the close
the rate ran down to 2is per cent.
Transactions in stocks were heavy In the regu-
lar speculative favorites and there was better
distribution throughout the list, with an increase
I'm commisson-house buying The foreign mar
kets closed before the result OF the bond subscrip-
tions were known but cable advices received by
arbitrage houses denoted a favorable effect upon
foreign sentiment which may figure prominently
IN this market tomorrow. The chief activity
WAS in Atchison Sugar Refining Rock Island. ST
Paul Burlington General Electric, Louisville and
Nashville Missouri Pacific and Reading most OF
witch closed at substantial net gains. Inc
Granger shares were generally up above per
oant trading in ST. Paul being the heaviest in the
let There were reactions caused by rrohi taxing
saIas but the close strong and generaly az
Tho hest prices Of the day. Total sales were Zs'"of
shares against 234.57l yesterday In reference 10
tho unfa vorable reports put out Yesterday ABOUT
sa,ssouri pacific II is interesting to note the COM
nn,.,s gross earnings for January, published TO-
bbay which show an increase over the same hoh,h
,, vear of sl45 900 A number OF highly graiily-
To- , r.cnorts Of earnings were made to-day among
.e 10, ha,ng that OF Louisville ana NashVliie'
htoh elbows an increase from July 10 reprua,y
a. gross earnings Of $593.525. For the SIX months
~ s,,a December 81 this company made an IN
IN net earnings of s193.341 In gross eaInlnss
.tee 9oa and It's surplus showed gain OF *osl'lls.
Ciosine prices Of the CHIEF acuVe S'ocAs' eo"'-