New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-21
CLOSING PRICES OF BOSTON STOCKS
Monday, July 20-p. m

MONDAY, July ZV-p m
The stock market was panicky and demor-
allied in the early trading to-day. and though
there was a sharp rally in the late trading. VAL
ues were lowered in the majority Of stocks by
declines of from Y to per cent. Had It not
been for extensive buying by the shorts in the
morning there would have been acute demon
aiisation. Heavy bear operators again
&C nspicuous leaders In hammering prices. and
the selling by commission houses was greater
than on any day last week. The mornings
mail brought in a mass Of selling orders from
out-of-town clients Of commission houses. and
during the day the telegraph wires were kept
busy In receiving messages from anxious and
frightened holders Of stocks Small holders have
been thoroughly upset by bear tactics, while the
gold Withdrawals to-day were further reasons
for the timid TO listen to the carefully prepared
arguments by the operators for decline. Gold
to the amount Of $3.030,000 was taken for ex-
port to Germany. and there were rumors that
twice the AMOUNT would be exported on Satur-
days steamers. The demand for exchange was
heavier. and some bankers intimated that the
quickest way to reduce rates and TO keep gold
here would be al intimation from President
Cleveland that he would issue bonds again
whenever the reserve reached a certain point
1t would seem the wiser course however. for
the banks to turn in gold for legal tenders. and
this proposition was discussed by the members
of the Clearing House to-day, and II was prac-
tically decided to offer the Treasury enough
gold to restore the reserve 10 xlOOOOOOOo
Bolstering up the gold reserve by fifth issue
OF bonds would have a bad effect upon the senti-
men. of many voters, especially IN the South and
West and bankers q rule prefer to exchange
gold for legal tenders rather than see another
issue % bonds At all events, the Treasurys
reserve will be protected and there Is no sane
reason for O scare account OF Withdrawals
and the vicious work OF stock market bears 70
lower security values Some holders or stochs
are needessly alarmed, and If they think the
country Is going to silver basis because the
gold reserve is around S9oO0ooO0 and because
bear operators look grave and doubtful, they
are making the mistake Of their lives and are
away gilt-edged possessiohs ior Ho''i-
ing.
Opening prices were at declines OF no! Fer
cent and throughout the morning losses OF lq3
per cent were sustained, the chief weakness
being In Rock Island. St Paul Northwest, chi
cago Gas, Burlington. Delaware and HUDSON.
and Nashviile M 1VarE Csntrai
Pacific Mail, United States Leather ana sugar
Refining. Despite lower London quotations ar
bitrage houses bought Stocks put the purcnasnss
were not large enough 10 affect prices ana inc
foreigners had the advantage OF picking up par
rains at the low level induced py bear presruIe
In this market. A number OF people are III t"o
=, rket for stocks on the assumption tnat Nu!ues
,annot 90 much lower, and that they stand Ior |
handsome advances at no late date, when the
inevitable upward movement sets IN: Otners |
IRE giving their brokers orders 20 sell every
hing but some Of those who SOLO ms morn,ns
rnre the first to buy back late this afternoon
men Il was reported that the bank presidents
= "a h.ep in session and had determined to pro-
ect the gold Lower LONDON EuO,as't ths
,rst time In n week that the London market |
Waved any indications OF ENCOURAGEMENT over
he situation here. At the close the cn,es ne,
~. -. smone the active shares were suffered
ossss aS aouthern. which lost per cent: CHI
40 Gas, " per cent; Rock Islana per cent:
surIinston. per cent St. Paul 2S per cent M
Gas ~ per cent cent? Den Kansas and
iranae p.,srred ia Der cent EewYork Cen.
1s per cent; pacific Mail ~ per cent and
Wabash preferred. II per cent uove I'M ,nr
we're lower and heavily dealt In; the PhI
o,"s ~ GALES amounting TO $043.5OO In stocfs
aIes were 3ss0S7 shares ~ ~, active
Closing prices to-day OF number OF a''''
tocks compare with Saturdays as 'ono q,