New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-17

SING rR1cEs OF rnILApELrIIIA STOCKS.
on THE STOCK EXCHANGE
Thursday. January 16--P. NJ

Thursday. January 16--P. NJ.
Trading in stocks to-day was on exceed
ingy small scale and confined entirely TO the
operations OF the professional element. The
public is not disposed to make any ventures In
the security market at present, and probably
il will not figure in It until the result OF the
bond sale has been announced. or until the
effect of the sale of bonds upon the money and
foreign exchange market has been determined.
Secretary Carlisle has done something toward
modifying the bond circular by allowing the
remainder Of the amounts bid after the payment
Of the first lnstalment of 20 per cent to be paid
in instalments Of 10 per cent and accrued inter-
est at the end Of each fifteen days thereafter.
This will extend the payments over period Of
about four months and will materially assist
action Of the Secretary was due to the efforts
Of the New-York bankers. and while it is a step
In the right direction II does not make the bond
call a model one there still being many elc-
ments of a popular loan call lacking. Further
notifications. as pointed out in this column this
morning should be made In order to make the
loan attractive. The business in gold In the
open market continues on a moderate scale and
considerable of the metal Is being Withdrawn
from the Sub-Treasury by prospective bond
purchasers. and at the end of this week there
VIII probably be several gold shipments which
Will carry the net gold balance In the Treasury
well down toward the $4,000 900 mark While
the public Is chiefly concerned In watching the
progress of the bond proposal and the down
ward course Of the gold reserve. no small
amount OF attention Is being given to the rap
idly increasing revenue deficit which for the
month to date amounts to S31S2 and for the
fiscal year to date $22. 712, S92. The urgent need
Of more revenue is apparently unknown to the
Popustic silver majority in the Senate and at
the present rate the outlook for the measure Is
certainly unfayOraDlc.
The change in the Treasury circular helped
Stocks 10 advance at the opening. but early
gains in many shares were subsequently lost
Due in part to foreign selling The changes either
way at the close generally insimincant.
American Tobacco Lake Shore. Manhattan and
United States Leather preferred were excep-
per cent lower. and Manhattan and Leather Ia
and 3i2 per cent higher. respectively. The adj
vance in Leather was due TO covering Of shorts
on the stale rumOr that a dividend might be
paid. The leather business has been extremely
bad. and there seems little chance Of a dividend
just now. A director Of the Leathe company
to-day that dividends depend not
only upon sales os leather. much of which is
sold on siXtyday credits. but on the collection OF
bills as we'll From this 1t would seem that
sales and payments have not tecn in the divi-
dend line The railway list as a whole was weak
noted in the international shares. A meeting
of tobacco manufacturers In the South 10
ganze an association for mutual benefit may
have been responsible for the break In Tobacco.
In which transactions were the largest In the
list Leather preferred excepted. Sales In those
two stocks were over one-third of the total
in all stocks. which were 136
shares against 15l,Sl0 yesterday The market
closed unsettled
Closing prices of the ch.ot active stocks. COM