New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-01
MONTY IND BUSINESS.

| II has been week of gambling in trust stocks.
Whether the beginning of long period of trad
ing in such paper or the beginning of the end of
such trading, it IS not easy to Judge. But the
selling was of enormous proportions, so that on
Monday, when these stocks were rushed toward
their highest point, the sales of three trust Sc
curites exceeded sales of all other stocks in
market, and again on Saturday, when the whole
market was dull. The sales Of the three stocks or
four including a few of WhiSkey Trust, were
for the week ia, 23l shares against 9i9,242 for
all other stocks, that the trading in trusts was
AZ DIT cent of the whole. Ii may be noted, too
that 1872 5Sl trust shares were sold the first day,
14O II the second IA 900 the third, %, 800 the
fourth and 5000 the fifth, showing decrease
each day, but sales rose to S;,2Cj on Saturday
Sugar stock started at II o "a, Lead at 30 IA
and Cotton Oil at 80 3d. all were quickly rushed
up to / % for Sugar, 81 for Lead and SO IS for
Oil; then they dropped TO lib for Sugar, 80 for
Lead and 65 IA for Oil, and closed with some re
covery at II 3 "A for Sugar 33 SIS for Lead and
81 IL for Oil. 1t does not seem difficult to con
cude that the loads of manipulatorS were much
lighter at the end than at the beginning of the
week. whether they intend to secure higher prices
at present or not
The popularity Of this speculation is that it has
carcd to be the law of different States cannot
be enforced. The decision in this State regarding
the Sugar Trust and in Louisiana regarding Cotton
OIL are treated as if it were quite certain that
Judges and cougtS would be found Of no account
whatever. The opinion is one which. many people
hold hut it is rather novel to SEE the whole mar
ket following the lead of those whose faith in 4
rise is founded faith that the laws are iml'O-
tent. One Spectator, If correctly quoted, gra,a
announced that II the trust he favored should ulti
mately be abolished by the courts still it could not
he done for n year. and in that year the organiza-
ton could extort great profit from the public and
put its stock to a much higher price. Nobody stops
to consider the fitness of trading if the eXtOrton
is contrary to law and the stock liable to be rem
dered valueless.
The general tendency of the market was weak,
and prices closed 90 cents per share lower than
they opened Want of money did not produce any
PRESSURE aid vet the advance in rate affected prices
some, as did gold exports, which reached s2,6O9,-
66i, and since April 30 have reached about
$50 900 900, of which about $40, 900, 900 have
gone 10 France. The Treasury took in $500, ono
more than it paid out, but bank circulation was
contracted for the month over $1,000, 900. Thns
the end of the fiscal year comes with $685.?
surplus reserve reported and an actual surplus not
much exceeding 100000 900. Railroad news was
not bad TO earnings, which for June thus far
have amounted to Sl34si ,j3i, or IL per cent
more than for the same weeks and roads last year
Nor is there am sh-inkace in the volume of bust
ness measured by Clearing House exchanges, which
show an increase of about 33 per cent for tic month
at New-YorlI, about Is per cent AZ Boston. Phill-
delpha and Chicago and about IA per cent at all
Other points
Prices in other markets We're generally adj
vanced for wheat cents, with reports of injury
in Russia and Dakota n basis and oil 3-s
cents, on account of the settlement between the
Standard Company and producers Refined adj
vanced only about 3 OF cent and coffee fell
g Of cent, the liquidation continuing. Pork
products were shade stronger, with corn and oats
a fraction lower and cotton unchanged Recent
receipts Of cotton have been remarkably small for