The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-10-04

event has also brought out the fact that Mr..
Gould is no longer equal to the strain OF Wall
street campaign: and though his forced re-
tirement from the Stock Exchange arena do
prives speculation OF ono Of it's most interest
ing phases. It at the same time removes o fac
tor which the majority Of people have regard
cd as menace. Tho stock market is now
therefore comparatively free from the machin-
atoms Of powerful operators, and also less
has been for very many years. These consid-
erations should. and doubtless will. carry
weight with the public.
To-day's market was strong throughout: in
deed. In the last hour It was fairly buoyant. All
Of the news was Of q cheerful character.
Cross railroad earnings for September are be-
ginning to come TO hand. and cannot but fortify
the upward movement in securities The
showing OF tho St Paul company Is especially
gratifying. while that OF the Rock Island Is
good. OF the smaller roads reporting to-day
the Wheeling and Lake Erie makes an
especially good showing. The Treasury
report Of o substantial increase in tho
money In circulation bears out the view
expressed In this column that fears Of an
uncomfortably active money market are
groundless. The weekly statement Of aver
ages Of the Associated Banks published to-day
week. for the reason that the large imports Of
specie do not figure In the statement for as
many days as the Withdrawals OF currency BY
the interior Next week the imports will count
for their full value. as four steamers due over
Sunday. or on Monday at the --latest, will bring
between $4,000. 900 and s.. 900. 900 Of specie.
OF the active stocks Atchison continues to
receive the most attention. and. as was the
case yesterday. the net advance In It was ex-
ceeded only by that scored by Missouri Pacific.
Another exceptionally strong stock to-day was
Rock Island. at . net advance Of q cent
Among tho specialties the most pronounced
movements were in Wabash preferred. Wheel
ing and Lake Eric stocks. Buffalo. Roch-
ester and Pittsburgh common. and Sugar
Refining. An attempt was made to-day to
criticise the statement Of the Missouri
Pacific Company published on Wednesday In
stockS and bonds held by that company and
By the Iron Mountain Company. As we read
the statement the securities enumerated arc
those available for tho liquidation Of the float
ing debt and which the company has no reason
to hold when itcan obtain satisfactory mar
ket for them. It would not have been to the
point to enumerate at this time the permanent
Investments Of the two companies. namely.
tho securities Of controlled roads which they
hold. An apparent oversight in the statement
that has not been noticed in print may as well
be referred to now. The deficit Of the two
companies before the payment Of dividends IL
stated to have been S67O.678 which as q mat
ter Of fact is the deficit Of the Iron Mountain
only. The deficit Of tho Missouri Pacific
proper. 933. was not added to that Of the Iron
Mountain and to the amount paid in dividends
In arriving at the total deficit. The error is
comparatively small. but should be corrected.
Tho week closes with confidence fully re-
stored 80 far as Wall street Is concerned. and
II Is evident from the tone Of tho London mar
ket and the volume Of orders received here
from that centre during the last two days that
the speculative sentiment abroad Is very sus-
ceptible to ON Improvement In the domestic
market for American railway securities. A
fairly large short interest has been partially
covered during the last two days. It has been
servioeable in heading the market upon It's
course again. but the effective buying has been
by those whose confidence In the outcome Of the
current speculation has never been shaken.
As compared with the final prices Of last Bat
urday the list is irregular. Tho moro important
net declines were In Missouri Pacific. ~ 2
cent. Rock Island. 2k: American Sugar Rein
Ing. IL; New England. 1; Buffalo. Rochester
and Pittsburgh. u; and Union Pacific. " cent.
The noteworthy advances were In SusQuehan-
M and Western preferred, az y cent: Distil-
ling and Cattle Feeding Company. 1k; North
American. TX: Louisville and Nashville and
Tennessee Coal and Iron. x each. and Lacka-
wanna, y y cent
Final sales compare with those Of yesterday