New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-01

A BROADER STOCK MARKET.


The bull campaign has made progress much
more rapidly than was antdcil ated, although the
bears are Responsible ior a.. "a. a,ins ~.
market has broadened the average commission
brokers have received more orders for tie pur.
chase Of stocks than before, ana an ihcIcsseo
confidence characterized all the dealings OF last
week During the first two days OF the Week tnc
bulls" continued to play ths game OF Walk
into my parior" and would nave conunued 70
MAY IL during the whole week II circumstances
mad permitted. Not only were the lnnlcotions
of a broadening market TOO strong 70 pc dlsr ISL
olrdcd but o few of the older Bruins discovered
an Monday and Tuesday that all their oHerlnes
of stock were absorbed while there az no TIM
apptarcd to be any prominent buyers; Una. ,nsla
Efforts to depress prices met with about The same
result as the attempt to drown duck ~ pourIne
water upon it's back Inc upward mos enae ne
really did not begin until Wednesuay N" hco r"c
buvnp OF certain Western railway oiliciao DccoI'-
inc apparent led to the conclusion that sF'iIe-
ment Of the Northwestern railway war was III
mnent, If not actually accom- plls.ct, accoun,
rave impulse to q market that before had demon
strated its strength. Here and there, k WheIc
bears rushed to ' tcatnr w'r was that
when the booming ceased the pest prlces VIZ
maintained Non-intercsted observers were con
iident on Thursday evening that inc shorJ li
tprest in the market had been largely reduce,u
by the operations of that Day rriuaS S'. 80
loan market, however, reflected only snian s ~
duction OF that interest in the aggregate ana ~,
the cases OF some stocks the new demand seene"
10 be larger than heretofore. ms only urino nI
strated that there had been larger g ensad,'
huving for new accounts than was suspect,
To.morrow's loan market probably WIN rensyV
some reduction in the short interest," since -
dav morning. but it may not The average
trsder as we'll as the larger operators, have been
so accustomed during the last twelve uSn,hs =. 80
least reaction after what they call q pulse, I'M us
il is within the range OF possibility thao ,hc -.
two DAYS sales for a reaction may more 'nn-
counterbaIance the liquidation OF the oid sn ,a,
interest But in any case, no matter ~n wa i.as
be the fluctuations of day or two, untll SOM NJ
thin% occurs TO bring back into the Street nc
enormous INSCRIPTIONS OF the last C"eiNc ino,,'''
the bears cannot hopc to meet with any sues
in further attacks upon the market oh 'ne -
Paul statement that stock was soid down -
ner cent 10 50 ID And now with the stock o.
S. the last condition %peS of TIN the prizes Vas Y
The officers and directors OF that company ar ar.
busily engaged in defending each DINER. ~ ,
president is credited with saying tnat tne sooi
ppe Wr Armour is unjust and that the STOCK
holders should be thankful TO him Tor wna. u,
has done for the company or WON'T n, armonr
anywhere and certainly have not INDUCED III
any ourselves. Bat it is matter OF some
interest whether not President Miller dln "I rhe
TO Mr. Armour and Mr. Armour qua , ,cm .,
Chicago Herald as printed in that Jourla. on
.July 4. that the reduction IN operating eApenstS
was so great that the company ro 30 and
earn as much net in SSS as II dd Ia &c - amn
that the operating expenses for May last were
81 50 900 less than in May, 1881 on,ll ,ns ; "a
and admitted by The Chicago Herald ihlnkln.
r nnor,e will not accept the sfntemeh,
Of Fl 4 81 900 increase IN the oFta'ns VSspsi;s
for the six months ended June 81, 30 a., W.,
own matters was inevitable, that the oinclais =
allied that the intelligence OF the punnc LII" -
see reason in a railway war when tonnage was III
creasing. the accomplishment; Of course was
favorable feature in the speculation m
" 1t never rains but 1t bouts' ihery w.
other favorable features. All the great rannass'
rXrepting the Ncw-Yorl Central, when niane r
turns of net earnings during the week gave ~n
cxppctedly favorable exhibits. Inc ahhoohV'
ment that Mr. Could had obtained possession ny
purchase of second mortgage bonds oil lhe ~.
ionis Arkansas and Texas R0ilrcad va gcncraly
believed to indicate Mr.. GOulds activity on 'n'
. huII side Of the market. The further announce
mont that thc Chesapeake and Ohio reorg nlka'lon
would be ACCOMPLISHED without foreclosure. tna,
the receivership had ended. and that the properly
had passed into the hands Of new manag' NJ
with Melville f. ingalls, as president, was anoib'r
circumstance favorable 10 the general sl,latn u
! and specially so to the holders OF Chesapeake ana
| Ohio securities. 81, -
active buying on advancing prices on all securities
! of the com pany Mr.. ingalls, being the pirSl"'h,
! OF the Cincinnati, indianapolis, 81 Louis anu
! Chicago Railroad means a close and intimate con,
! nccfion of the two companies which cannot III
| IN bc of mutual benefit The two companies will
! connect over the bridge at CINCINNATI making
| through line from Newport News TO Chlcago Inc
Eastern trunk lines also are slowly ad]ustlng th'r
| little disputes and are being hastened thereto mol
only nv the near approach 10 the closing OF inland
! navigation. but by the enormous trame whch i
i'm sight for them. All in all the situation siowiy
| improyes with each passing week, ana that with
| oui speculative aid The speculation in wheat ~
Chicago is merely local affair, interesting TO th'
gamblers engaged on each side OF II, and only
/ temporarily checks the exports.
! Subioined is our usual table, giving the numb y
of shares sold of all stocks. the highest. lowest
ard final prices of the week, together with the
final prices OF a week ago. pretXcd by the average
| prices of October !, SS1.