New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-07
Total 81 co.'s. 3l0,2ss siGsG.o6s Inc s37c0so 5.
THE WEEK AT TIE STOCK EXCHANGE.

80 So%eaHc 81 m e, I n% $50 80 ss
Total 81 co.'s sislo2ss siGsGo6s Inc. sa7c,0so IS
THE WEEK AT TIE STOCK EXCHANGE.
The Tribune this morning printed Il story Of n
dyspcptic pessimist which is so illustrative Of
the financial article printed this morning in the
great bear" organ, and of the sort OF stun which
during the last two years has been so important
a factor in reducing speculation at the Stock En-
change TO Il minimum, that II seems proper u
repeat here in the form of general response To
all that sort of writing An English bank cash
Ter. suffering from dyspepsia, is explaining why
he refused to discount certain piece of paper
You see, | don't think that things look well
Old Captain Cutie. OF the Cunard Line. informed
me This morning that there is evidence OF great
Arctic drift deposits on the Merchandising Banks,
which if persisted in will eventually defect the
Gulf Stream further south. where II Will probably
strike that side of tho Atlantic near Morocco or
the Sierra Leone Colony. In that case England
will revert back to the glacial epoch, and SHOULD
this happen Suddenly, why everything would DC
frozen stark and stiif before morning. Now yon
understand why refused that paper. That man
and his principal have only Patrrnostcr Row, 81
Paul's and Strand property on hand. and III the
event. which is sure to happen, Of these lcehcr2s
dcnositing more Arctic rock and drlf on The New
fonndand Banks. why il will take thousands OF
wears before another change takes place. ana ire
extinct Irish elk and the wolf and the bear VIII
hop in and out and play hdc-and-so-seek IN West
minister Abbey
Now. the facts are that the volume Of business
now being donc by the country never WAS rs large
as il is now the consumption OF imported ana
of home products is unprecedented. the raroAd
earnings continue month after monih 70 cNhlnl'
progressive gains. and that nOtwihs landing pre-,
dcfions made long ago that they had rcnchr1
their maximum and thereafter would show DC,
cl;ncs and notwthst1 nding continued reports OF |
snarlings and chickering's between railway man
ayers The fact is that the troubles between Inc
railways now are greatly exaggerated ior spe'u-
lativc effect and are no greater than they always
have been when entire harmony was reported 10
evist and all the managers allied 10 promote
a grand speculation In stocks. II is curious 10
note that among the managers VINO no" are Plr
urrd as obstacles to an harmonious agreement are
those who protest the loudcst that their proper
ties were never in better shape ana never "eie
doing rs prosperous business. II IS not ncccS-
sary to mention their names. LIthcr WIN or
without authority they are frequently plihl'u
as indisposcd to join the rcorganlzcd Interstate
Railway Association, except upon thclr own 'ihs'
Yet the railways 90 on reporting increased gross
and net earnings -.
The decline, in the bank clearances of New
York during the last two weeks are more IMAM
accounted Tor by the smaller volume Of business
al The Stock Exchange. For the last TWO weeks
of this year the transactions III stocks amounted
10 100000 shares, against @,VVV,"VV LOT 'i'
same weeks of $50, and against 5Jou,uVo sn'i'S
ior The weeks of ls-s. Boston and ImladcIphlA |
exchanges suffered from tie same cause, while
nearly all the Western cities. especially those
where there are 10 speculative Exchanges CON
iinuc to show large gains on The weeks ui pre- /
ceding years. These are tie main facts IN TIC |
situation, although there may br believers IN ITO
prophetic earthquakes of April -. II they come
j Will make little difference 10 spectators whether
they are long or "short" of securities. but
probably they would prove the most effective
The business last week in stocks was even more
restricted in volume than in the preceding week
The Transactions in listed stocks aggregated "nN
AGA. 232 shares. against JbS,"V shares lCr 'hc
preceding week and the whole business, including
The unlisted" department. Amounted only to
Il = 3GO AGAINST Gg2 1Ol shares for the preceding
week Until on Wednesday the market suffered
from extreme dulncss, but developed strength
which is usually not the accompaniment OF cN-
irene lcthargy Wednesday and Thursday were
marked by sharp advances and larger transactions
than on The preceding days. but still the business
dore was small. The SATURDAY haii hohday. ~ y,
off in the early dea nes then lapscd into dulncss
and steadincss much of the same character as was
witnessed on Monday and Tuesday. The result
Of the wccl: j. a general advance OF from one 10
three per cent.
Further progress made during the week
toward a solidliying of the diversified interests
between the Western terminals Of the trunk lines
and Chicago and ST. Louis. The purchase by
people interested in the Big Four and 'hcsa-
pcalc and Ohio systems of the Joint interest IN
the Mackay system important, and was
partially responded Ia by advances for all classes
of securities The purchase by Senator liricc Of /
the Fort Wayne, Cincinnati and Louisville i'al-
road indicates tha; it will be linked with the
fortunes Of the Lake Eric and Western. All these
movements are simply steps toward reducing the
unnecessary friction existing between diversified
interests ard toward the maintenance of re-
muncrativc rates for snch business there is 10
he done, whether that business be large or small
exaggerated in the reports, probably would quickly
dissolve II the various managers could place |
Themselves right upon the stock business. Ger |
tain il is. according 10 their own statements |
verified by the reports Of earnings. that they |
all now have more business than they are com |
pc:ent 10 transact. and that therefore there is no
excuse for quarrelling about small things at this
particular time.
There undoubtedly some liquidation Of the |
short" account during the latter part Of the week
and efforts made TO accomplish more. But |
il is questionable if the aggregate short inter
est reduced 10 any extent. The happy set |
Element arrived at between the contestants for |
control Of Reading Railroad affairs probably pre- |
vents long and expensive litigation. while II |
practically is a success for the CONTESTANTS II |
harmonizcs different interests. and its effect was |
seen in better prices for all the Reading sccur- |
ties II disturbed the short interest i'm il. ard |
in Delaware. Lackawanna and Western, and i'm |
parted healthier tone 10 the securities of all the
coal stocks.
Following is our usual table. giving the num- |
Der OF shares sold Of all stocks, the highest. low
est and final prices of the week, together with the
final price of n week ago. preiXcd by the average |
prices Of April :. 1899:
WEEKLY RANGE.