New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-22
Companies. 80, 7oa, 6i1 ssOis,4so Inc. 1925 sis
THE WEEK IN WALL STREET.

Business at the Stock Exchange was resTios san
In the last week by the indifference OF sne re
interests, on account of the Easter ana OF s- m
approaching Centennial holidays Inc H lso
checked the foreign buying, and, in view OF Tue
latter operators were not inclined 70 assume
new risks in either direction. In spite OF 1ne
apparent stagnation, however, the week was NJ ~
devoid OF conspicuous features. Inc lntereso Oh
investors as well as Spectators was turned Ironl
the Southwest to the extreme NORTHWEST Dy sunols
early in the week that the Union racine nau
withdrawn practically from its position OF guar,
ntor under the lease Of the oregon halIWay any, anu
Navigation Companys property By one OF Ine
Union Pacific auxiliary lines. 1t Is wei Kn nJio
q course that the only reason why tne Ot tat
Pacific did not make direct lease was Lhao
IL would have had to obtain the consent OF Con
70 avoid this Difficulty the sss SaI ma the
Union Pacific guaranteed the payment OF dlVioeiu'
In accordance with the agreement na &.
The reported action of the Union racine IN
withdrawing, or in pretending TO Withdraw, Jus
guarantee Is inexpicsble on ordinary principles
of business honesty. II must be inferred thai 10
was intended TO force the Northern Paclnc lnto
Joint lease through fear OF serious cohnlet
in the extreme Northwest. IL Is certainty prooaDie
warfare in that territory with great compiacency,
especially IL it has decided to take advantage
Of its legal position. It's present poncy may pc
successful finally in securing permanent peace
in the Pacific Northwest, but at what cost TO
holders Of railroad securities and at What crifce
Of honor 1t Is not surprising tnaS ' ne ;oint
lease on terms made by rival for tnere couid
be no assurances that after the agreement had
been perfected the Union Pacific would not pursue
the very course which it now appears to have
laid out. And in respect to the earn
ings Of the Oregon company, Of which
com plant il made it must be remembered that the
Union Pacific has had the practical management OF
The property for two years. The poverty OF earn
inrs NAV be the result Of inefficient control or
part Of the supposed scheme to compel joint
lease.
Other influences which affected the course Of
prices were the decision OF the Interstate Com
merce Commission that the Canadian railroads are
amenable to the law and the action OF tne hall
against the Housatonic. New-York and New-Eng-
land stock at first declined on this announcement,
but rallied yester day on the theory tnaS tne de-
feat of its New-York extension would end In some
Arrangement with the New-Haven Railroad. While
the building Of parallel lines certainly ought not
to be encouraged 1t is by no means impossible that
a refusal TO authorize them may sometimes pc
greater evil. II may reasonably be questioned In
this instance whether the pubic interests net only
of Connecticut but Of all the New-England States,
would not be promoted by the proposed line, espe,
caly II close restriction against consolidation ana
pooling should be imposed.
The final changes in prices were not large, with
the exception Of declines Of l-2 per cent IN ore
ron Railway, l-2 per cent In Oregon and Trans
continental, l per cent in Union and Northern
Pacific and unimportant losses in some OF the spe-
cialtieS. The greatest strength was SHOWN by
Louisville and Nashville, which gained l 5-S per
and fractioBslly higher. Atcbison continued to
hold the first place. but its fluctuations were mar
row and uninteresting.
Subioiped is our usual table, giving the number
Of shares sold OF al stocks the highest lowest and
6nal prices Of the week together with the final
prices Of week ago, preixed by the average prices
Of April 81, 1888!
WEEKLY RAs0B