New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-02
Total SO CONSIST GIL 1927 So, 215 e2a Inc 100000 13o
THE WEEK All THE STOCK EXCHANGE.

OF the business at the Stock Exchange We are
able TO add little or nothing 10 the daiV com
ments which have been published here: Inc
business in railroad bonds was fairly active, and
vet restricted by the limited amount Of offerings.
In the stock market the business done was scarcely
up TO the average OF a good weeks business, ana
yet throughout the whole list there was a harden
ing of values OF the moderate amount OF trans
actions. Right here we wish to say one word To
the year of 1888 more fully presented reasons for
decline in stocks than did The Tribune. From
May, $50, down to the present date we never
have hesitated TO say that the policy OF the
Chicago, Burlington and Quincy WIS ruinOus to
all Western railroads. We did not say that
stocks either would advance or decline, but We
did point out and alone the iniquitics OF tie
Burlington ami Quincy management, as We do
to-day, that the Burlington and Northern cannot
make a rate upon either freight or passengers
except by tie consent Of the burlington and
Of the Burlington and Northern stock
You have. our sympathies thai on a
decline u Of 20 ~ per Won cent lent ndo AGhson
when it closed last night at 80 rs. We have
been there ourselves and know the folly of con-
tinued selling and never buying.
During the week the Northern Pacifcs, under
the manipulation and buying of the Willard party
were features in the speculation. Their rapid
advances are detrimental rather than favorable
to the general market, because OF recollections
OF the recent deal in Oregon Transc Continental
stock which from above 60 al tho closing of the
books declined to below 80. The cases however,
Of Northern Pacific stocks for election aud 10
secure a vote OF the preferred stock in favor of
TIE 81 60 600 900 consolidated mortgag &c scheme,
there is the enormous gain in its earnings Prob
ably the danger point on Northern Pacific preferred
will not be reached until IL sell, in tn mel ghbOr
hood Of 90 Mr. Willard unQuestionably HIS behind
him large German backing which IS willing TO
wait for the developments Of the country which
will justify any price TO which Mr..
willard may =, choose to put the
Nevertheless, the prominence obtained by tho
llet And yet despite OF that. there has been n
nearly the whole week, so that the gains es-
tablshed upon the prices week ago range from
! 1-2 per cent to per cent for the general list
Outside influences, including crop prospects.
general business, and growing harmony between
the Western railways, have all been favorable
10 an appreciation in stock values The Slowness
with which the stock speculation has responded
TO improved conditions simply reflects lack
Of appreciation the part OF the local speculnt
OF promising conditions and a listening 10 the
absnrdties which are hourly nut forth regarding
the possible monetary situation. Actual stocks
are scarce at the Stock Exchange because they
have been purchased, paid for and carried away
The bulk of the business is made up Of dealings in
| contracts which originated in short sales, and
rot one I'm ten Of the members OF the Stool;
Exchange have IA realizing appreciation of the
extent Of the short interest which exists Sooner
OF later this large short interest outstanding fol
twelve months, win, with the growing appreria
ton Of The cammercial and mercantile situation