New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-07
Total es co's.:so s7s, oSS s72204oo Inc e342 317 T.
THE WEEK AT THE STOCK EXCHANGE.

The transactions In stocks last week were
2,327 ,015 shares, against 624T51 in the CORE
spending week last year, and l,555,060 two years
ago. The transactions in railroad bonds amounted
to nearly S15,000,000 par value. The week
opened and closed in the midst of great specu-
lative activity. The early buoyancy stimu-
lated by a fall in the rates of foreign exchange
and by advices of gold shipments. 1t was per-
haps natural that there should lie reaction from
fesSional efforts in that direction were helped by
a variety Of circumstances. There was great
uncertainty about the progress being made IN
settling the affairs of the Union Pacific Rail
way, and the selling Of collateral security by an
impatient creditor to whom the company owed
100000 was followed by hints of a receiver
ship from the West Large creditors of the com
pany did not follow the example, and there was
no good reason for believing that at any time
there was q hitch in the negotiations The course
of the stock in the market was at least circum-
stantial evidence that the plan for the extension
of the cOmpany's floating debt would be carried to
a successful issue. Around 40 support evil
dent, and the rally from that figure eX-
tensfve buying, undoubtedly for the long account
The Executive Committee Of the company has
approved the deed of trust, and it is stated semi
officially that the holders of three fOurths of the
floating debt have signihed their assent con-
ference of the persons interested will probably be
held on Tuesday, when all uncertainty about the
some quarters that the rate of interest 70 be
paid BY the company is excessive in face of the
undOubted security furnished. 1t must
per cent is economical because the forced sale of
the collateral securities would entail heavy loss.
In the three years, for which time <he debt is to
be extended, there will be many opportunities 10
market the collateral without sacrifice. The eX
tension of the debt, il must I've admitted, does not
discharge 1t. 1t natures, In fact, just before the
first instalment of bonds issued by the Govern
nent in aid Of the road Whether there is any
meaning in this coincidence is not clearly appar-
ent If the extension notes should not be paid
the company would lose control OF its auxiliary
lines and if, further, there should be adjust.
ment Of the Government debt, 1t might happen
that the Government should secure the main line
while the control of the branches feeders might
be held by hostile interest. 1t would not he
difficult to guess where the bulk of the floating
debt notes would be found in this possible con-
tingency The absence of Mr. Gould throughout
this critical period in the history of the Union
feature of the affair. On previous occasion III
bis lifetime he related before committee of Con-
gress that ne went into the woods 10 pray.
The reaction in prices in the middle of the week
was caused partly by fears of damage by frost 10
the corn crop. The approximations were seasonabe,
but they were not fulfilled, and even in the Sec
tiOns where the crop is latest il is doubtful if
heavy frost would now seriously impair the yield.
A week or two will place the crop out of oil dan
ger. There remains only that time in which the
market will be subject to speculative rumors Of
that kind. On Friday when the scare was over
prices resumed their upward movement, and small
further advances yesterday made the last prices
generally the highest of the week. The largest
gains were made by speciaties like the Chesapeake
and Ohio and Nickel Mate" stocks But the
more active ones generally closed from 10 per
cent higher than week ago. The dealings In
AtchisOn were cOnspicuouslY large, and there was
also an excellent demand for its bonds The buy
ing of many Of the less prominent securities
Tor foreign account
Following is our usual table giving the number
OF shares sold of all stocks, the highest lowest
and final prices Of the week, together with the
final prices Of week ago, prefiNed by the aver
age prices OF September 6, 1890:
wFHKLYsRANoR.