The New York herald., 1876-10-16
FINANCIAL and COMMERCIAL.
Events Of the Week-A Brighter Pusiness Out
loOk-The Failures of the Year.
THE GOLD AND MONEY MARKETS.
Railway, Government and
State Bonds.
WALL STREET,

WALL STREET,
SUNDAY Oct 15, 1915
To the large class OF brokers and obbers who hoped
10 nnd in the late bull movement the initiation Of
and permanent rise, the close OF the week has
been somewhat disappointing. The stock market has
been 80 long in shackcs-cnained down. as II wero 10
the 1oor OF inactivity and depresson-that nothing
less than the efforts Of financial Baron Trenck could
avail 10 set 1t free After long waiting the brighter
prospects OF trade seemed TO announce the hour and
The astute bull combination the man. To great do
yreo both have been wegned ana found wanting. The
ntcmpt at release has In = measure failed The
rise has been a matter OF ''sound and fury,
Bignifying nothing" but a sharp turn and profit
able venture. The market has been allowed to go to
sleep again with little prospect OF more than SON.
nambulistc of activity and with slight hopes Of
permanent awakening In the early part OF the week
everything coaleur de The combn alton had
hoised the coal and impaired strength to the
general list; had, whal given such good and cogent
for their proceedings that even outsiders who
had for SO long been promised 'ths good time COM
Ing" began 10 think II had come at last
New jersey Central which bad been secuted at as
worth less than cents of the dollar suddenly
discovered to be worth four times the money the
firing directors rats desorting sinking ship,
but unpleasant rodents whose room moro valuable
than their company; finally, tho new President was
Daniel come to Judgment who could handle colony
Of bears dcty he could the denizens OF lions
den, and from whose mastery management new era
Of prosperity for the company was to spring.
In Delaware and Lackawanna othor plea nec-
essary than that the had been unduy depressed
by the rascally BEARS who deserved punishment and,
IS the sequel shows, got II
Lake eshore and Michigan Central, Rock Island and
Northwest all had good word said In their favor to
The Of calling attention the supplies OF
1 he Dera
directors who to be made disgorge the fruits
Of illegal leases the immense value Of land grants
and dozen other reasons showing that the tide was
1t the flood and fortune to be reached by free pur-
chasss of the properties.
CuriousIy these representations were more true
than false. and by holding firm hand
on the market the public might have been
eventually led to believe them; but at tho
ticklish moment the combination gave up the
movements sold out their stocks and whipped to the
other side OF the without "by your eave
to the creduous tall that had followed them. The whole
operation turned to be artificial the hybrid
image Of clay and brass, and Of greater stability.
BY the middle Of the week the engine had been
vcrsed Mr. knight $50 the story VENT had got sick of
both his stock and his presidency and had sold the
and threatened TO throw up the other. The rail-
road rate cutting business to be more incisvs than
sver the Vanderbilt and retainers been
sneaking out of their Lake Shore holdings. Added
TO these reports. which principally nctions
the fact that the Reading corporation bothered
about It's little 'bills" which, like Banquo's ghost
refused to "down at its bidding, but claimed pccuni
ary recognition at maturity.
Naturally, the course of prices took the downward
track much Of the previous advance was lost on
Saturday many of the bugbears referred to swept
away fictitious creations, and the market assumed
arm aspect, with higher prices at the close
This in brief is the story OF the week. and It is an
unsatisfactory one, offering grounds tor anything
moro solid than artificial and manipulated market
for some time TO come.
There important events In tho speculative
during the past week that call for special
mcnt Will not be explained by tables below. At
times the market buoyant and the high
est prices of the present upward were made
Subsequently decline set in, which due both to
realizing sales and tho circulation OF rumors of fur
her reduction Of freight rates and that the paper
OF the coal roads had been protested When however
these statements wero discovered to be lse
announced the other hand that the Canadian lines
had advanced freights rs per cent from Detroit TO
Ill points East, reaction occurred and the market
closed strong with upward tendency
BUSINESS OUTLOOK
Is regarded favorable those who are speculatinr
Tor higher prices Hence the tenncty with which cer-
which they have been pulatcd for the last sixty
days II is not to be denied that improved condi.
lion Of trade generally prevails, and that especially in
those channels which supply the necessities OF the peo
pie, the lido Is moving with . ireer stronger and
broader current money is in moro active demand
Confidence Is increasing crops are moving forward
TO market al a that will the carrying
power OF railroads 10 the utmost Tne balance Of
trade 10 In favor and in the event OF European
war; OF preparations for the same tho amour, will
industrial agent America will find employ ment Il is
activity in business circles be moro or less
ascrbed to the movement Of great people to
and from Philadelphia and New York ana the expen-
dturs which naturally attends the trip and may not
be to count upon similar condition during the
rost Of the year. still 1t equally that we are
upon the verge of better times already beginning
show the vigor and elasticity that mark our conva-
Iescnce. As
OFFSET TO CHEERFUL
tho October circular of Dun Barlow Co. an ex
hibt of financial wrecks that at first sight is startling
and dscouragng. is to bc remembered however that
many OF firms virtually bankrupt previous to
1870 and tho last nine months was period OF clearing
away that which already rotten. The annexed
table shows the number OF failures for quarters
with gross liabilities ana the average liabilities OF each
failure In each quar;cr-
No Of AUerdge
Faiiures Liabilities Liabiss
First quarter. ........ $50 SAB t73, 600 $zi 7S2
second quarter. ..... :. 1851 ss, 100000 ~ 2s5
THIRD rnm,,s Ioi sasssooo ss goo sos1s
---1S76----
N