New-York tribune., 1890-08-04

new Interpretation Of the term mining and rail-
way stocks, which are dealt in only in me IN
listed department. contributed Olly %1,1oV Nhar's'
so II can hardly be said that The industrial stocks
were particularly active.
Turning to the general market vi the week.
the only comment necessary is that extreme dUi-
ness encouraged continued selling fnr tie short
account, that in the absence o an cquai invest
mcnt dcmand-thcic was no speculative d"inanIu NJ
prices slowly yielded - the pounding> which they
suffered NHhiSon. Topeka and Santa re, MIS-
souri, Pacific and Union Pacific were the laNotie
points OF attack and consequently among we
active stocks these are the ones which show lhc
grpateSi decline ST Louis and san fmncSc"
first preferred declined from = 10 - on 1he
passing OF It's dividend This was more than IN
timatcd in this column two months ago. Pl
good authority learn that the late DIVIDENDS
had been paid without having been earned, ai'i
that the new management which had purcHS'',
the common and second preferred stock WON"
continue 10 pay only such dividends rs were
earned and furtbcr that The probabilities were
that the holders of the first preferred stock Wpb'
bc invited 10 exchange their stock for an Al'n.
bond at fixed rate Of interest. The Al,uI.
son Company l. making such large earnings INA,
there is little doubt some interest will br pald
from the earnings Of six months on its llc"hP
bonds September |, aud the managers of the prop
crty are confident that the year viii rcturn hei
earnings showing some surplus for lS stock
It may Hw De truly sad That wall Stfr'l -
the only dark spot in the whole "i the ,nHaI, 'ii
States. Rail Jav traffic and bank clcaron'es an
over tic country furnish positive evidence Hi Il
magnitude Of bus ness never before ciGail"'i 4N"'
vithsiandjrc the much-'a kct-about decline oi
American exports the figures for The wear tnue't
June 30 show that tie merchandise exports Oh
thc country were The largest in its history an"
That the consumption OF foreign m"T'Iai1dFr
never was surpa s-cd. These are figures Of record
during a year when railway construction was -
its minimum The prospects oi thc lnlmcdl'"
future point 10 European demand for our gram
aud provisions greater than ever before. Nh,
the damage 10 the winter crop Is admitted ann
cstablishe it now appears as if the spring "hca'
crop would be larger in quantity and better ID
quality than over lcforc The corn crop nm
doubtedly has sustained some damagc bnt
Weld of / 200. 900 600 OF bushels which woud pr
n decline Of % per cent viii he sufficient to mee'
al demands and viii command higher prices th'h
n crop equal to that OF last year. ihr coSe az,
pronch Of the time when the new Sllrcr bil VIII
90 into effect taken in cOnncc tion with the GER
tainty of change IN tho balances Of our foreign
commerce places The monetary situation np"n
basis sufficiently solid 20 defy pcssimistc manip-
ulatans The stock market IS dull, ana except
that stocks are s. largely hcll hy investors wh"
have paid for them and are holding them ~ thclI
boxes all the prospects ~ sight would uNF
promise of an active speculation !" say tha'
thc stock market is now cli1u"d. except on
tLc hear" side is statement 50 absurd mar
even n prcvarlcator unless utterly Ignorant oi me
eitnaiion would not have tho holdncSS to assert
il. -, ~
Following is our usual table. giving thr mum
beer Of shares sold Of all stocks, the highest. low
cs, and final prices Of tie wr"k together with TIC
0nal prices Of a wccl, agr. prcNNcd by the 1vcra-'
prices OF August =. l~N9:
WEEKLY RANGF.