New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-11-03
WILD CHEERS ON 'CHANGE.
LIVELY SCENES AT THE CLOSE OF YES
TERDAY'S MARKET
PATRIOTIC SONGS SUNG AND GREAT ENTflcsiAS"
sHowN-sTOCKs DISPLAY sTRENGTH-Hi'h
RATE FOR MONEY-FMTH IN THE

SIOwN-sTOCKs DISPLAY sTRENGTH-hi""
RATE FOR MoSEy-FMTH IN THE
TRIUMPH OF SOUND MONEY
There was a patriotic demonstration on the STOCK
Exchange at the close OF business yesterday ai'ef
noon 1t showed that the members were he"i an"
soul for sound money and likewise hear' anu so''
agains; reputation and anarchy
When the chairmans gavel fell at O'CLOCK d
great shout went up. and it was followed by 'nIee
cheers for the Stars and Stripes, three hio'e 'o
honest money and three more for Mckinley. hich-
ard II. Halsted had secured the Dry 1oous 'iu"
quartet, composed Of two men and TWO women anu
ae conducted them on the floor. They STOOD upon
he seats surrounding the Wheeling and Lake Erie
post. II was the first time women had ever peeh
admitted to the floor OF the Exchange "he" '"e
cheering subsidized the quartet began to sing Amer
ira They had not sung many words before the
brokers' and the crowds In the galleries joined IN.
II was a most impressive as well as eh'huSias'0
scene Never before had there been scene iiNe "
within the walls Of the Stock Exchange. Inc cioSc
OF the song was marked by cheers that fariy SHOOK
the building.
"The Star-Spangled Banner and a number OF
other patriotic airs were sung. and there were
cheers after each song. The demonstration iaS'e"
for halt an hour. The handsome display OF 'he
National coors prepared for Flag Day. last Satur-
day. had not been disturbed. ana IL contributed ~
the inspiring spectacle.
THE COURSE OF STOCKS.
The course Of the stock market proved the ram
A. investors and operators In the triumph OF Nc
KinIey and sound money. A notable feature OF the
market was the wide range Of dealings A greater
number OF stocks were dealt in than for many
months. The final transactions were generally al OF
near the highest prices OF the day.
The wheat market picked up with the stock mar
ket December wheat or wheat deliverable In De-
cember, in which the dealings were largest. opened
at sol. cents which the lowest price OF the day.
and was 4 OF a cent bushel above the c.oslng
OF Saturday The final price. which was also the
highest OF the day, slss cents and accordingly
made the net gain for the day Il OF a cent bushe
The net gain In May wheat It's cents a bushe,
indicating belief that time went on the price OF
whea, would climb up. There was net gain OF one
quarter OF a cent in December corn and one-haf
cent in December oats.
The commercial price OF silver remained unchanged
at IS cents ounce.
THE MONEY MARKET
The rate for call money attained higher point
Yesterday than was expected. The first loan on the
Stock Exchange was made at 10 per cent. but soon
after the delivery hour (2:l5 D. M there were loans
one-haf Of one per cent commission ana inter-
est" which, in view OF the fact that the loans hed
for two days. made the rate figure out ss per cent.
Most OF the loans were made a, one-quar'er OF one
per and interest which was equal 10 81 per cent
The las, loans made at this rate
Most Of the money supplied by the syndicate OF
banks which formed last Friday 10 take care oil
the money market until after election The policy o!
money at the rates BID by borrowers. III Wds
the borrowers who carried the rate up TO the neigh
borhood of 100 per There was enough money
Some of the borrowers We're shSr, or sioc i Iny
in hopes OF breaking down STOCK prices. IN lhis
they were unsuccessful. Prices did not yield
The high rates for money were attended with in, no
excitement. and the November interest ana dyi-
that the posl-elccton rates would be considerably
lower than those which have @ foa the s
turbance in money was practically over ....
is the stock was sold for immediate delivery and
payment instead OF for delivery in the regular course
cash sales One was to avoid carrying stocks over
election and the other to secure funds at once.
FOREIGN EXCHANGE STRONG.
The foreign exchange market was very strong.
Rates about one-half cent higher than on
Saturday The actual rate for demand sterling. upon
which gold importations are based was ssh TO 4ss
apparently ~ to ~ cents above the gold i'm
porting point. Nevertheless $4,000 In American
eagles was IRON ,ne sanx G was made
possible by the high rate FOR money here ,,.,
were the heaviest Of any day except one since the
movement Of gold TO America from Europe began;
$4,000 asS The express companies withdrsw
amounts for interior banks which furnished iesaI
Company iT was said TO have Withdrawn $4,000 There
was long line at the gold window IN the SUP 40
line wanted gold in amounts ranging from s. 10
IS Many rendered silver od ss,sn a xod only
on greenbacks and Treasury certificates. and. OF
The demand upon the bullion dealers for gold was
so great that they increased the premium on Casn
S 9d s Seq d io5 m ne per or 10 81 on
thousand. Calls good for thirty days contracts to
% Sys1 s sEa DO ne s0d
good 70: sixty days were sold at ~ per cent MIA
thir,y-day cali for a considerable amount Of gold
at per cent and sixy-day call at ~ per ceht G
Nc rphi
deposited in the Assay ONCE and are redeemable
in gold the Were sU,9 o 5s
per cent and resold by them at IA per cent pre-
MUM easnS S1nk kept baanee With it,
panied with INSTRUCTIONS to pay the draft I'm in goI@
York bank ,elegraphed that 1t would procure IN,
ported gold from bullion dealer. bps Una, "a a
L, The reply was that this ARRANGEMENT was SAL
sfactory and the gold was Rurtn nosea ,,m go IN
gold in The Sub-Treasury. Muller. Schaii Co de-
posted sqS in 1ns A fTom the
MONEY FOR THE INTERIOR.
There was an enormous demand from banks
,,rousbout the country upon New-York banks
wbere they keep balances for currency The New
York banks had beea sending silver collars ana Sill
yer certificates but their vaults nad oeeh pretty
Thoroughly cleared Of these kinds OF money ana
thev we're Obliged 10 send legal tenders upon WHICH
rnl3 might be obtained Teegraphc transfers OF
Currency through the "ene
M0st OF wa as' forwarded by The express
oa ar did the largest business In handing
money in a long time
COLD WITHDRAWN AT CHICAGO.
Chicago Nov Eighty thousand dollars was TO-
,,hdrawn from the Sub-Treasury on legal
.snaors OF the 1890 issue and later and on gold
csr,iAcates The Withdrawals were In amounts
ranging from $50 to $1,000. and were solely for
boarding People stood In line throughout the day
hut many had currency OF issues not redeemable
~ 90 his branch Within the last three months
about 81 800 900 has been Withdrawn from the en-,
go S,ih~ Treasury, but the daily withdrawals
Csye small until Saturday. when $4,000 was taken