New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-05-11
Total SO cos 81. 1885, 100 s7,77aesl Inc. sos7bSl T.
THE WEEK AT THE STOCK EXCHANGE.

Speculation in stocks last week was controneu
bv the unexpected continuance Of the EuropeaI,
demand for gold The exports of specie amounted
in the week to $7,402,365, of which all eAcep'
S224,225 silver was in the more precious me"ii.
theories In explanation Of the movement "eIe %
numerous as they were unsatsfying, ana some n VI
/ theme were so crude as TO lie ridiculous lheIe
is little ooubt that the movement is partly que 70
the necessary payment of our debts Dut te oaor
balance against this country is not SO much larger
than il has been III previous years as TO account o
the extraordinary outflow of gold. IL Is WORTHY
of notice, however, ana III is lac, .il"' h a tbe
been explained by political economists, lhau ono
imports OF merchandise continue on scaie ReaLG
/ as large as before the passage OF the MchlnieS
bill. The exports of specie ths year ,bo same
lime last year while the trade balance against Iiis
country was increased by little more than So'UVU
| 600 This amount has not been exceedeu s enaI
| 1884. and then only slightly. 1t Is scarcely
worth while to consider the reasons for tnls un.
usual movement. The cause may be tne eNiueho
onarrel between Russia and the Rothschllds or
| General preparation for war in Europe. 90 iai
as this country is concerned 1t makes ntoe and
ence what the reason is. The gold Is going, anu
ms most of il goes at small loss all h
in regard to its cessation are frivolous IL hds E
come onnarent that Russia is at the bottom OF tie
movement. although the gold is destined 10 lH ad
| don Paris and Berlin Before the Barlhgs Ia a
| in November the National Bank of Russia hau 9h
deposit with them G5,000OOO, and the Will, Will
drawal Of one-half of this amount was te nn
diate cause of the failure Of the foTemosI Gon a.
| mercial house of the world. The other man n.nS a
INV, IN the Rank of England and it is estlmateu
now Ia tnS M " witbdrawals of 100000 the
Russion bank has still deposit In other III
100000 If it should continue 10 S it in
| eeba las. two months the consequences 10 EUROPE
might be very SERIOUS $500, coo $40
wear ago the Bank of England held t22'IoH,d,
724 gold. Its stock was gIaauaiE a mounted to
| fIs s2l 576. The necessities IN tnaI c a uv
manded extraordinary measures ana 0y Ooii ond
ing sSOO0,oOO from the BANK . ol was nut
on n firm foundation It's present supply ID oniS
900 253 The stock of gold held by tne j. nr xas
| n vaar ago while that held by the BANK Oh uel-
many is somewhat larger. IL can easily donosits
that if for any reason Russia recalls IT'S ueposio
the banks of Engana France nS nue stock Of gold
IN the world that is accessible Is neid az oo
country. and in the uncertainty aoouv tI iiI
of Russia the other European - ob ragard 10
strengthen themselves without much ies"O ="
cost. , ,-o. a;s
Under these conditions the stock market dis-
played admirable resistance frceS yeiGe Dot
| LARGO enough to indicate alarm on tne parI Vi
investment holders. 1t is the popular opinion
that the shipments of gold are not muGn nloie
| than demand loans TO Europe, While the doihesuc
sit"ation the condition of trade the harmony
among the railroads and brilliant crop prospects
assure great prosperity for this country ~. Ua
conrse the beneficial effects of the action OF the
Western Traffic Association were utterly olsel
by the monetary fright, and few speculallNe
cyncs were even inclined to attrlpute the .t ue
nyassion toward the end Of the week TO retaliation
for the supposed afront to the Missouri Pacific
Railway 1t is incredible to suppose that such
vengeance would he inflicted. lhe ACTON OF the
assoMation was in the direction of peace and
harmony. and in sense it marks new era IN
raj road management.
Following is our usual table, giving the num-
har ~ shares sold of all stocks the highest lowest
and final prices Of the week. together with the
final prices Of week ago, prefixed by the average
prices of May 10, 1890: