New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-25
WALL STREET AND EXCHANGES

clos EXPRESS the greatest surprise at the iaclhtS
and ease with which the United States have alb
sorbed the enormous amount of American SECURITIES
that have been thrown on market since the
Barring failure and especially within the last tweiVe
months. The fact that we could and did redeem
our pledges with little disturbance has had d
most marked effect on foreign capital and IN one
sense we stand higher in the estimation OF the
financial community than ever before. sun, the
foreign markets will not again buy our s.0c sa anu
This is a subject Of paramount Importance Aoioau'
and the banking community IN Europe - is ~ ss re
spect than ourselves. Let the cuirehc oe
once definitely and er ssnures thai
will surprise the most optimistic. Foreieners Au
account acc Of our unsettled currency: but that Is
largely due to our wonderful material prosperity.
Tass fear :as safsf S'
ropes money markets"
Hisaakira Hijkata and Junosuko Inouye. repre-.
sentatives of the Imperial Bank Of Japan, visited
the Sub-Treasury yesterday. In company with Go
guro Nagasaki manager OF the Yokohama specie
Bank No So Wall-st. They were introduced 10
Lyman J. Gage. the Secretary OF the Treasury
who was at the Sub-Treasury and were shown
through the institution Mr.. lnouye SAID ne ana
his associate had been commissioned 10 study the
financial and banking systems OF this county Dry ann
pha, and were going TO washinston TO famiiiaaiIs
t bonas Hs said they would sail from New
ss9d 4 O On
went on a gold basis October |. The change from
silver is great advantage to Japan as n J, W." .,oe e
ard countries The change was brought about oy
the Emperor and all are In fqv9T OF 1t sT He peans
in Japan toward China is now friendly
The effort to secure concerted action by the New
York banks In lowering the rate OF interest on the
balances Of out-of-town banks from TO ~ per
cen, appears to have failed. There Is too much
competition TO obtain the accounts Of out-of-town
banks Naturally the out-of-town banks would
take their accounts to the banks which would pay
them the largest interest. Accordingly. every bank
with facilities for handling this business must join
In an agreement or II would not succeed The new
compact among the banks on the subject OF inter
est. There could in any event only be a "tact un-
the outset concur in IT, would hardly prove lasting.
Fifteen years ago written agreement on interest
except one signed H. The refusal OF this one bank
TO become party 10 the agreement prevented It's
The annual election Of the Customs Brokers and
Clerks Association of the Port OF New-York vii! be
held on December 10. when these officers Will be
elected; President Charles S. Dewey, who has
served two terms; v!ce,president. Harry Robinson;
Scardefeld: collector. Frank II. Bennett
conference on the classification OF tobacco under
the tariff held in the Office Of Collector Bid
well in the Custom House yesterday. II was at
tended by importers OF tobacco and by representa-
tives Of the Law Division Of the Custom House and
the Appraisers Stores.
warning was yesterday sent out over the Wall
st. tckers against gang OF swindling boys.
who. pretending 10 be employees OF the Western
Union and American District Telegraph companies,
were presenting lists requesting subscriptions o.
money as Christmas gifts
There was a moderate advance in wheat On the
New-York Produce Exchange December wheat
closed at 9sfs cents gain Of y cent from Tuesday
May wheat closed at 95ss. gain Of !. cent Export
sales OF wheat were twenty loads. Export sales OF
corn were thirty loads.
Inquiry yesterday failed to elicit any foundation
for the reports Of impending consolidation OF DOWN
town banks in addition 10 those OF the Third Ma
st 0na! VIZ the Ha to- CIV ana the United
John G. Moore OF Moore & schley left here last
night on pleasure trip TO the Pacific Coast
J. p. Morgan & Co. denied yesterday that they
were TO finance the scheme for the consolidation Of
the sewerppe manufactures OF the country, some
forty-hve In number.
| ADDITIONAL APPROPRIATIONS PASSED
| The Board OF Estimate and Apportionment met
| in the Mayors office yesterday. but did not pro-
coed with the consideration OF the budget for 1888
taken up there was discussion to including
| the salaries provided for In the charter, and It
was decided TO walt for an opinion by the Corpora
ton Counsel the subject. Mayor-elect Van
| Wyck. although he had been invited was not
present. The Board passed some additional ap-
propriations, including $500 for improving a ter
race in Central Park 8. 800 for improving a small
park in East Fourteenth-st.. A5O for improving
| Claremont Park $500 for a frame roadhOuse at
Northumberland -sixth-st. and the Harlem
River Driveway and 5000 for the construction OF
| approaches to the Harlem River Driveway at One
| hundred nd-seventy- sixth-st
The Board approved cx-Judge Alsons bill OF
$500 for special services in condemnation proceed
ngs for the acGuTenent OF snd for small park
| ton Counsel Scott had approved Of the bill Ex
Judge As0Gs bill WAS one Of those objected 10
| between that Board and the Corporation Counsels
Office
An application by the Commissioner Of Public
| Works for an appropriation OF $4,000 for fitting
s es y ys ssH nG IN Guy %
Controller Fitch thought $4,000 would pay for an
| entirely new building.
CATHOLIC YOUNG MEMS ASSOCIATION.
| The Catholic Young Mems Association, which is
composed Of the active young members OF the vari-
| Gus Roman Catholic parishes In the city gave a
| package party and reception at its clubhouse No.
| o. White-st.. last night. Tho packages. which were
| brought by the large number Of guests present
| were sold 10 the highest bidders without being I'M
wrapped. and considerable amusement was fur
nished those present when the purchases
opened. The sum realized will be used for the
benefit Of the club.
This was the first social gathering OF the winter
held oy the assocIaton and 1t vii be followed by
dancing served 10 make the balance Of the evening
pleasant for the members Of the association and
their guests.
The only genuine HunvadI Water,