New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-27
ro,,l "a cos go 72O sce ~, rs 03S Dcc s5775 =
TIE WEEK AT THE STOCK EXCHANGE.

The stock transactions at the Stock Exchange
last week included 1,lSs,Sl0 shares in the gen.
rral market against 226,S2S share' Tor tlle pre-
ccdng week, and In the unlisted department
;o4..0 shares, against 236,432 shares Tor the
preceding week. Ioials-l, J3.03g, against >
46.ia6O Tor the respective weeks. III Will pe seen
that the operations in the general market >laSI
week were smaller than in the preceding week
while the unlisted department FURNISHED an III
crease of $4,000 shares sugar certilcaoFS con
trjhutad to last weeks operations $500 slares'
ar more than the entire capital stock and they
provcd 10 he the bugtear of the weeks market
After a dull movement at generally apprcaia1ite
values for the general market sugar ceItinca al,
IN Thursday morning developed great actlNilE WIN
a decline during the day from - l-2 to ABOUT 90
Friday morning they sold down to 81 Sc.
and that additional decline delnorallzca Ie
day there was a sharp tally. The final price YES
,cray was 81, against "A 81 week ago 1 ne
mischief however had been done. and the whole
Snet was agltated about VINO Laa oee end w,'ot
would be tue effect upon the general maTket "
Following the movement in Sugar There were were
heavy assaults upon the STOCKS OF SnIoh scIirnD
which cxerted material influence upon the whQ PIE
ullrhct. Further, it was confidently asser'ed uS
those who profess to believe that there mas oetii
no lookup of money that yesterdays oank s'aH
men, would show loss Of over 81, O0O,00o 10 ue
nominal reserve; and so il should have done II
the bank movements of the last ten DAYS VIZ WV,
entirely due TO the naturai movements Vi ns4nrS
ond thcrefore none 70 be surrptitously returned
the known movements of money lnGca'en unv
loss anticipated, although fridays latc lno,. my
market should have modified the opinions q the
guesSers. ,o,o
till in 1883 there was grand speculative move
figures which now would seem to he fnbulo9s-
New-York Central ] 81 and Lake Shore las INC
one who then dared to show by tine vsTlouS rali-
road companies own reports that expenditures
properly chargcable to operating expenses We're
charged to construction account and covered oy
new issue OF bonds at premium; That ths pre-
count and that the sales of old iron and matters
were also credited 10 the same account-shch q
one was entirely out Of fashion. And yet. While
the country has never ceased TO grow, the dlvl-
dends of many corporations later were cut in
two. and Of some they entirely ceased. The pur-
cbasers of New-Iork Central above $50 on all
per cent dividend basis even now after re-
cent dividends, while the honest,earned Dividend
of the company is now probably greater than
II ever was before since It's capital stock was
raised to $50. 900 900 The craze to buy stocks in
.he perod named is only equaed by the depres-
sion of the present time. The methods of book
keeping of rarly all the railroads have been
Changed. and instead OF operating expenses being
charged TO construction account, expenditures now
made properly chargeable TO construction account
are put into operating eXpe1ses' In many in
sta noes the present stockholders are being de-
vrived of their fairly earned income for the
benefit of future holders
Our Weekly Range, which is preceded BY the
figures Of the corresponding date Of 1889, which
also was year Of depression in the stock mar
kct, presents an interesting study TO the student
OF values The decline which has occurred during
the Inst twelve months, barring immateral 1nctua-
tons has been 50 slow that few persons realize
na rison of the figures The logic Of every days.
events forces the conclusion Tint some of the
heaviest capitalists in the couhtry for long
time have been interested in marking lower values
for securities And it is equally evident now
that no single one OF the heavy capitalists could
have wrought the depression which has occurred.
II would seem rs IL the pronounced professional
:" bears had been puppets in the hands OF men
ass ~ t IsS s,o"Sholders eye ''f
AS the boom Of $40 to 1888. which later
events proved to have been unreasonable. had IT'S
end so will the present depression. which seems
to he as unreasonable. have its end. and probably
will be followed by as wild speculation as the
country has ever seen. The date Of it's beginning
rests with the decision OF railroad MANAGERS and
their backing bankers; Their, with business TOO
large for the companies to handle. there will he
found no difficulty IN tho establishment and main