New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-13
Total 20 co'ss3 So. $50 30 so" 800 Inc. s2'" id'
TILE WEEK Al TIE STOCK EXCHAN,,I..

THE WEEK AT TIE STOCK EXCHANGE.
The reported sales of listed stocks AZ the Stock
Exchange last week amounted To I.i"'.''t
Shares, against l,O2',,6l Tor the prcccdin- wee.
and Of unlisted stocks amounted IL l"i.-"".
against l3l .373 shares for thc preceding week :
total for last week l,tS?,Joi SHARES, aG"lh>'
l,l88,Y34 for the preceding week.
Yes there was some liquidation IN ~" IiiI!"d
stock slecu lation last week bat II "H> tHc prices
which were made for stocks mat induced tir
liquidations. and not the liqn'lai which 'i''c
tie prices. The extent of t"r hIud.ii"n OF Ioi' :
stocks may De estimated by any "r" upon ~"
figures given above for the toidi frinsa' Tons III
A market that 50 far ~ the speculation j. con
crrned was more dcn"raIiNi thh' ANY "h'h
las been Witnessed dung tie Last th'ilN S'dIN
With all the talk ami wIItnin- about al "N-
tensve liIuldat!"n We vet nav" lane" - ne"
mentioned "a s!nrlc upol11ni interest wlm'I! has
lquidatcd etlc from cOi"" or from comp .lN'"''
sually, heretofore. when important lif""!i''">
have been pI.,ir tie whole Street. Ihri'iliS ~"
booLacks. haze had ansolu'" know ."'sr oi 'n'
event. Usually. heretofore. III Ia" IHlhid"'i"H 81
important interests the Transactions lave run hp
to 100000 or 'o"."oo shares per diem i"r .hi'r
or four consecutive days. and u" week record
wonld foot up ncarcr H''"":. s."''S '''"'' I"
A review Of the last weeks causes. real ana
imaginary, possesses uiorc than ordinary inter,
est, and perhaps may be- instructive r. h"l'cr> 81
securities who arc not tape" ttc!fi". d"
severe attack made upon stock values hl'"r '!t'
publication of the bank statement on N' !rduS ..
October a. may have nfrn inrsocrn ny az ,>
ASA ulting party: Int il needs :" i" rinrn"ir
in following the succeeding events aud ruinors Of
last week With ia" beginning OF thc week
of money and the probability Of ln"fhcr p"ri"i
Of stGinecncy. There is nothing that frgh'rns
bank Presidents more than TO see their cash 'iis
appealing without the ability to follow it. Trras
ury alsorptions and shipment, Ia the interior they
are able to measure and I" calcu late with some de-
gree Of certainty upon the period Of the return
movement But disappearance which canno' be-
followed cannot be measured, and hcnre II came
to lie fact that money for time loans was hard
to Ike obtained, while the call loan was super
abundanly supplied
Everyone, no matter how well supplied with
money frightened oil from additional pir-
cluses Of stocks hence the succeeding depression
in value WAS made easy. And the dt preston winch
eliminated for the week on "Wednesday was the
cause Of considerable liquidation OF contracts
Personal and corporate credits were assiil"h
with an unbridled tongue and probably the govern
ers of the Stock Exchange whose duty II should be
TO bring the guilty parties before the courts under
the special statute enacted for tie protection OF
their clients have not yet heard 0i IL. Thursday
the widest sort of cables were alleged I" 'c 70
ceived from London. and were circulated. describing
q condition Of affairs there on American securities
which little less than panic. and predictions
of important failures in consequence thereof were
freely made. Despli" those reports our market
on Thursday comparatively steady. A. Thurs
days London quotation were only followers OF
the Ncw-York Wednesdays decline and as the
whole story Of panic In"4sines> ana probable Ial.
even to the unthinking mind that the insti.at"rs
Of those false reports were the ones who, on Thurs
Q0y by thclr purchases SIeoueo HpHs HElIkf'
The tbrcr tened trouble between the Ncw-lOrk,
Lake Erie and Western Railroad and It's employees,
coming at this particular time sng2"S's Tho
thought that il. too. may he the work OF IA master
| hand in the stock market. And then. al an OPP
perfume moment for effective hse AZ III" Stock
Exchange comes the widely published circular Of
Mr.. Chairman Walker. Of the Weston Associq-
ton which, after suggesting remedies for real and
supposed evils. adds, unless something of this
kind is done. railway managers VIII presently he
chiefly receivers" This came OppOrturcly NJ the
moment when the market was most drin"ralizcd.
Yet values improved instead OF declining after H.
II what Mr. Walker says is true, il was more than
true year ago, because since that time all the
| important roads Of the country have steadily
shown gains in both their gross and net earnings
excepting for the month Of August. and here ard
| there a single exception for the last month Of
July The loss reported for the mouth Of August
in not earnings as compared with August $50
hardly covers the loss OF the one day for this year
because Of five Sundays in the month against four
| in the month Of 1889 There is lot single com
pany, We believe. which for the twelve months
ended August 81 does not show gain in its net
earnings over the corresponding preceding twelve
months. The cOmplH int of the want Of ears boil
| East and West never was as loud and emphatic
| as it now is. II Mr. Walkers forrbndings are
correct. it is a pity that the equipments of the
| lines are not onehalf instead Of being greater
| thnn they
| to worl; hardships for speculative railway man
leyOnd question. Because the grand fact remains
that in the last seven months Of the operation OF
the law, which was not period Of unusual &C
tivitV. when the MANAGERS feared Tn diSohev lie