New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-29
Total Al Cos48 32s0la 49, 60l sol Inc. SOS O48 s.O7
EFFECTS OF FALSE RUMORS.


The stock market at the Stock Exchange last
week was still influenced by the circulation OF
depressing and Enthusiastically rumOrs regarding
the general commercial, financial and railway stu
alton. Yet, although it was dull week and the
transactions in the general list of stocks amounted
only to S6S40 Shares, there are few stocks which
at the close of the week did not show some APP
probation in values over the figures OF week ago.
Even Philadelphia and Reading stock, in which a
determined fight for lower values waged be
cause of the expected poor showing of June earn
ings. shows final decline of only 3-S per cent.
Delaware, Lacllawanna and Western, in sympathy,
was sold down TO / ~ %, when the misfortune of
Philadelphia and Reading caused by the June
| floods should have been regarded as beneficial
TO the business Of the Delaware, Lackawanna and
Western Company. The price Of Delaware, LacSa-
wanna and Western, however, closed Is per cent
| higher than a week ago. The conspicuous adj
vances of the week are shown by the Chesapeake
| and Ohios and the new. Big Fours' 1t is con-
| fidently expected that Chesapeake and Ohio will
earn in ito first year OF reorganization dividends
| upon both its first and second preferred stocks
| II Is almost certain that the new Big Four
ccmr,on stock will earn and pay a dividend of
Per cent for its first quarter, ending september
| 30. lience the advance OF per cent for Big
Four common, per cent for Chesapeake second
preferred and "a per cent for Chesapeake and
Ohio first preferred We have so fully each
day made reference 10 the influences used
to affect market values that 1t m IS
1 here to repeat them iHonon The
at work against IL, yet with moderate fluctuations
| il shows gains for the week running from IL tc
! per cent Tor the usual llSb or active STOCKS
| The business in trust stocks was small through
| ont, aggre eating only $4,000 shares, sales of
| all. Prices generally after declines recovered, so
dat tn. final charges are measured by small
fractions Sugar, exceptionally, closed with an
| advance of IS per cent The surface indications
seemed 10 show that the distribution or the stocks
has passed and that the work Of rcbGylng as
chcaply as possible has begun. They are all
better purchase than they were few weeks
ago. when the daily dealings running up
10 from % 600 TO 80. 900 shares
| The general situation, which should and ulti-
mately will affect stock values. during last week
made further improvement and development. The
monetary situation Is clearer even 20 thu most
| obtusc than IL when people of that class
| were labOring with scare over gold exports.
The Governments report of the c0untrvs COM
| merce makes favorable comparison with pre-
sccding years which is not impaired by the fact
that il has without discomfort 50 largely liquid1tcd
| its debt 10y PAIRING with S31,0UO.000 gold during
| the lest six months. The statistical returns 81
| last six months reflect n demand than was not
| expected and the fact that the supply in
! creased 10 meet the enlarged demand at lower
| prices is proof that such economies have been
| introduced i'm the production 20 leave profits
sill satisfactory 70 the producers. The pros poets
for all home grown crops have largely improved
| since the Government report for July /, while
all the reports from abroad go TO indicate an
| unusual foreign demand for all our cereals.
| Excepting corn. all crops now have passed the
danger point, and the stand of corn crop is better
and nearer maturity than usual al the end OF
July Against all these fair prospects there stands
only the incapacity or something worse OF
railway Managers The talk about Stnte com
missioners despoilng the properties has been
more probable that In the near future Wall
Street will he fed upon the exaggerated report,
Of car famines than upon the slashing of freight
rates.
Srbioincd is our usual table, giving the number
az shares sold Of all stocks, the highest lowest and
final prices of the week. together with the final