New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-16
Total 152 $4,000 1862 sS79s1, COS Inc s4o74siS l2
THE WEEK AT THE STOCK EXCHANGE.

g
THE WEEK AT THE STOCK EXCHANGE.
Last week witnessed no diminution in the de
mand for railway bonds. While AT the stock IN
change there was the usual shifting OF invest
ments at full figures The large dealers in bonds
report that never WAS the demand equal TO Wilat
il now is During the last year in addition TO the
large investments made by Europe ana 10 inc
accretions of wealth in this country by the Treas
ury purchase of Government bonds, about
| Sl25 G0O. 900 of capital has been displaced and
seeking for investments in other securleS.
| Together with this is the continual expansion OF
| LEGAL money at the rate of about sd 0o9oVo a
year by the coinage of the standard dollar IL
| seems hardly necessary to 90 beyond the undlS
puted propositions named for reason Tor inc
urgent demand for rSt-claSS securities. bnt thcrt
is another one which, although it has been cl0uded
by distortions and rsentatiOns, must IN the
end prove almost as potential upon all classes Oh
securities as have been those named-that Is, thc
cOuntry's wonderful progress the general I'M
provement of business in all It's branches and NOT
least the better and more responsible management
Of railway properties.
| If there is any possible device that mas MOI
been used against values in the Stock Exchange
during the last week, il prOpably is in the process
of incubation at the moment we write. IRON
an attempt against the money market uoWil
through all the possible phases of manipulation
i'm the "unlistcd' department Of the Stock In
change where it is inexpensive 10 finally resort
TO the distorted publication OF anceht history
relating t. the Missouri Pacific Railroad, every
known trick last week was Appealed TO- IN, Inc
coal stocks received special attention Ihr
meteorological record was appealed to ana Rulhef-
Gus untrustwOrthy statements concerning lEuTcs
were INDUCED in TO explain why Delaware LhcNi-
wanna and Western stock was sold of nearly
per cent at time. while the decline IN IhlEl-
delphia and Reading at any time dld MOI e Ne
/ ! 2 per cent Delaware. Laclawama ana We>',
ern did decline because il was perslStently soId
and washed down" in dull market 1T is III,
teresting to notice that of a Pennsylvaha coli
| stock-a company that Is purely and SIMPLY en-
| gagged in the mining and selling OF anthraclte
coal-there were no sales, and il also is worthy
of note that the sellers of Delaware. Lackawanna
and Western were very chary Of Delaware ana
Little hcadway was made against the granger
stocks ard they finally closod with small changes
for the week The old VandcrhS ruled strong
| with more than usual business done IN them, nut
the new VanderbiltS, or as some people class
| them the Morgan stocks, were about Inc
| weakest on the list, and this despite very favor
| able returns of earnings 49,
4 special drive was made against Missouri
| Pacific and vet il closed at IS 1-4-iust is per
| cent lower than a week ago-and. as they said
in the Stock Exchange on Friday afternoon
1000 shares at 81 -. viii, the statement
| and Texas was due TO the probability that it,
reorganization is practically aSSented 10 by what
heretofore has been strong opposing mt resi- Inc
settlement of rliS question undoubtedly VIII be an
important factor IN the speculation, and may lead
TO an activity for which brokers have long Deeh
| wishing.
The declaration by Western Union Telegraph Of
an extra ga per cent making . per cent for The
quarter and IA per cent for the sN months, to-
! cethcr with the statement showing that the earn
| ines for the six months exceeded per cent, had
! less influence upon the price of the stock than
| might have been expected, but yet 1T Is certain
! reflection of the great improvement IN general
business, and that is emphasized when il is re-
membercd that q year ago the company was EN-
Toying the extra business furnished by general
| election.
The rapid decline from 60 IA TO So 1-2 for
Sugar Refinery certificates an alarming feature
| in itself but il was made still more alarming by
special efforts TO make il effective upon the gen
| eral market Late developments indicate that
some of the controlling magnates III the refinery
| company have been sellers of short stocks in the
general list, and that their control Of the com
| Tmny's money and their power over the price OF
! the certificates have been eXerted against the gen
| eral market. There are later indications of a
change Of heart. At all events. Sugar certificates
fell IA per cent in tOrty-ciIbG hours, and no one
| apparently was seriously n ured by the decline.
! TIE final recovery of about per cent was made
with transactions hardly Onc-quarter of those at
market and consequently the with which
prices were raided is shown hy the fact that the
weeks transactions in listed stocks were only
| ,04l 221 shares. This clearly shows that stocks
| were and are neld in such manner that these
| periodical desperate Efforts for generalization
! utterly failed to bring any important liquidation
of long accounts, in fact that the late efforts 10
| that end had proved TO lie as signal failures as
| did those which were made when prices were 0
| TO / > per cent lower than they are now.
Following is our usual table, giving the number
| of shares sold of all stocks, the highest, lowest
and final prices Of the week. together with the
final prices of week ago, prelXed by the average
prices of December 10, 1880: