New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-21
Total IS co'ss3 4li 1884 9O3 Inc. s3is 4s9 ia
THE WEEK AT THE STOCK EXCHANGE

II.
A prominent feature at the Stock Exchange
last week the continued and increasing de-
mand for railway bonds on a broadening Of the
market so that the new issues Of recognized
companies were more active under an enlarged
demand. The Atchson, Topeka and Santa lie
issues fully maintained their previous advances
and were confidently purchased by the same in
terest which was the buyer when they were
first issued. Philadelphia and Reading issues
again picked up portion Of their late declines
chesapeake and Ohio new IS and the first and
seconds of Richmond and Allegheny Division
made substantial advances. The new As Of
the Missouri, Kansas and Texas, which are de-
hverablc only when issued, June !, began to az.
tract the attention of investors and were more
urgently sought after at full figures. The whole
bond market ruled strong and business was re-
stTictcd by the limits Of offerings
There very little of what might be called
stock speculation. The Transactions Of the week
amounted only TO so9.s6s shares for the listed
department and l47,526 shares for the skating
rink total ,037.394 shares, against 106225
for the preceding week. The speculation was
even more than usually well supplied with re-
ports of demOraliZatiOns and rate-cuttings by toe
railroads, not only AT the West, but among tie
trunk lines. In fact. il seems 10 have become
n recognized duty among news p vendors 10
keep the growth of eXaggeratlons fully up 10
and equal 10 the gain in railroad earnings. But
at last the stock market seems 10 begin 10 realize
that the auditors official figures of earnings have
a more substantial basis than do the irrespOnsi-
bic daily reports of ratc-cuttlngs. even when
packed by tlP dlfgc0 Itlk OF some unnamed
prominent official Dull as the market was
during all of last week, excepting occasionally
in two or three special stocks. the whole market
established material gains in prices for the week,
and, further than that, IL developed a resistance
TO :" bear" raids which has not been witnessed for
several months. We keep no ones books and
do not enjoy the confidence of the bear" leaders
nevertheless it seems n waste Of time and ideas
10 write that the short interest is well
eliminated from the market. There was some
momentary buying for the =" short account. hut
NJ least i'm three instances such purchases were
resOld without having the anticipated success OF
breaking the market. \ reaction OF quarter or
a half per cent during such active pressures was
the full extent of the effect followed Immediately
By recoveres and higher figures.
The silver question attracted some attention In
the Street. but II can hardly be said t. have be-
come factor because the operators IN the present
limited market expect 70 be in and out several
times before the question assumes such degree
of certainty that il will have any influence upon
the public mind.
For what was accomplished during the last
week il is not necessary 10 20 beyond tho fact ~
a realization that the reported railroad earnings
are now rs they have been for several months,
totally inconsistent with the speculative manlpu-
lation of news relating to the Generalization oi
the railway situation and the slaughterng u
rates for both freight and passengers. The ex-
pansion of the silver circulation will have It's
effect later on.
est and final prices of the week together with the
final prices Of a week ago. pretNed by the average
prices of April p, lSe9: