New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-20
Total CO eos ss os6.1SS 81. l68 OF Inc
THE WEEK IN TIE STOCK EAChANuE.

w
Fo,o lono time the speculation az the STOCK IN
ohcroo hoe bcen awaiting Tor some occurrence
which vvouId relieve il from the thraidom OIL rear
II nnttared little what that occurrence hIen.
no 90 long AS il developed the real cohuiuo" Vi
the speculation. The pessimists, who were 50 DC
cause their interest on tie snort sac hiu as
sun,ed such large proportions TINT they conId hoI
turn around III Il llillte9 nnIhe% Wv tncIy. those
of which was q slow absorption OF stocksuT Iloso
snccuIators had for so long time helu Iun con,
troll Of SO large part OF the usual means IrVTs ~
which information was derived ana eulIeu OiiIC
operators who believed that large crops ana az
abundance OF the Carth'S riches led TO NauohHl
prosperity were cowed 10 such hu eNtthl lhaU
they dlstrusted their own opinions, whlVh VITO
backed by the history Of century ,.o,,o,o.
The reelected president OF the STOCK EAGhAhEe
Condoled with the members on ne tt~aiv
months, but failed 10 refer TO any OF uiC rcuSoLs
why such had been the case. The governors oa
the Stock ENcnangc are largel{ leepouS'G 1V,,eJ
i DEVELOPMENT OF last week PROMISES at IedSI 70
work temporary relief. But the interests Oh tIc
stock Exchange require some moro radical action
than is forCshadowed III the vague promises winch
the president made III his REMARKS ...., C,,
The stock of the Oregon IIInscohtln r "a
panv for long time has ruled between ~ any 90,
Tor an indefinite period II has been sure SaIe ior
q profit al about the highest hRuie hnlh'h nHu "
purchase at about the lowest. but as u sS'IlisH'
views have ruled, the average operators nave pre-
70 rrcd 10 sell on the advances and only ~ cover q"
the declines. If ten days ago any one Ala
ycntured 10 assert that there was S"0Ii my
in n = stock he would have been regarded rs luHy
nIig{hlc Tor board at an insnne asylum. Yet
sharp and seemingly close contest lot t''e C"h'Io
at the approaching election has dcNeIoiFu sIotC
interest OF no inconsIderaoe mas % t"'i ,,
AS the purchaser of short SALE was WILING 10 iOhh
his contract 10 the seller or postpone the u"IlNeIS
everything went swimmingly Tor ue pears.
When however the demand for the delivery Caur,
the real condition OF affairs was deNeioptd., ~
is nov evident that nearly all Of the sellers
options put out during the last ten days were
either new sales for the short account or com
mission OF previous short OIL casn S,o'm ,,b ,h
closing OF the books of transfer the stock "oNIn
again be easy and one or the otACr OF thc con-
testants would seek "A market Tor theIr sboC".
IL so happens that the contest Is so close tHh'
neither OF the contestants has any stock Tor sale
and on the contrary, they are both sohclunH
proxies from other holders, notwithstanding lWt
has in actual ownership 1000 shares
more than one.half OF the capital stock, in when
case there would seem [, be no necessity LOT ASK
ing proxies from the scattered holders. o Wh2I
o. tent This accidental corner may extend We do
not propose 10 predict, but II Is QUIT" evident
that considering the situation, the snort IN
tcrest outstanding and deliverable before INC HiF
Of the company'S election is uncomortahN hrg'.
Aside from the special effects on the spectators
IN this stock. the episode Is valuable ~ IIusimt.
ing the condition Of the general market ana the
course Of the market during the last two or ihret
days gives e'idence that some OF the pear
operators have realized the situation. or course
there is no probability Of an exact repcuton In
any other stock OF what has occurred m Oregon
Transcontinental, but the continued slow aDsorP-
ton of certificates. which has been IN progress
during the last twelve months, despite the dec!lhe
in values eventually viii produc" like result
n demand for the certificates representing short
contracts which have furnished so large pro
portion Of the trading capital Of professional OPP
orators.
The abundance Of money during the whole sum
mer is now assured. Never IN the history OF me
country has there been spring so iaVorahc
for the planting and growth OF the principal
crops The prices of stocks generally have SUI
fered a decline which would only he warranted
on the plea made two weeks ago by the bear
organ, that whether the crop, were great or
small the country on q broad path 10 rum.
Even II this expressed opinion the rcnl one
81 is o misiof''T cvidcR, tR R capi;ais,s,
investors and first-cla-S bankers hold different
view, and are likely in the near future 20 give
force 10 their opinions ny energetic action. ~"
transactions OF tie week were not UNUSUALLY
large, amounting only - l,%I3,4s6 shares. Tic
feature is that such advance, A. were made IN
the general list were a business 50 small
that the reduction in the amount Of the short
interest must OF necessity have been comparatively
small
Subjojned is our usual table, giving the number
Of shares sold Of all stocks, The highest lowest and
final prices Of the week, together with tn hnol
prices OF week ago. prefXed by the average
prices OF May IL, leSs: