New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-08-17
Total, IS co.'s. 81, los. obs 500 $50 Inc. s4sa 0l5 rs
THE WEEK AT THE STOCK EXCHANGE.

Speculation In securities last week distinctly
improveI. \ fair business was done in railway
bonds and some issues received slight support from
London. AtchiSon incomes advanced 4 per cent.
The Kansas and Texas issues were higher, and as
a rule prices looked up. \ happy characteristic
was the cumulative nature, SO to speak, of the
activity, and although the bond market remains
congested a slight distribution Of holdings is
gratifying.
The stock market was comparatively active, with
trading expanding near the chse. For the first
time In many weeks business was not checked by
rising prices, and the market advanced, too, not
understanding weakness IN special stocks. Either
the short interest was largely un~dercstimated, or
a fair degree of new interest was developed.
Manipulation at times was not disguised, but
some spontaneity must be credited TO the upward
impulse. Estimates OF the probable yield of
wheat grow larger daily, until now a crop of
coo, 900, 900 bushels is discussed seriously. Whether
conditions have also favored the maturing Of corn,
and while no more than 1000, 600, 900 bushels are
calculated upon, barring future accident, in some
of the surplus States the promises are for remark
able Yields. The bull cyclone which swept over
the cereal markets seems TO arouse SPECTATORS
in securities 10 a more acute realization of the
importance of the conditions which have been
contemplated less eXcitedlY for some time. The
Street looks TO the country's agricultural pros
perity not only to benefit the railroads and gen
eral trade directly. but TO ailay discomfort among
the farmers and lessen the menace Of unwise legiS-
lation and hurtful agitation.
The excuses Of the wheat speculation will aS-
suredly correct themselves in time, but they pos
sess the possibility of first derangiDg the money mar
kets and checking the free and heathful flow Of
exports. lie foreign slTratlon Is Dy no means
benefited by the existence OF partial famine abroad
and such disturbances as have followed RuSsia's
prohibition of the export of rye. The stock specu-
iation by no means can afford TO abandon pru-
dence, and it must attain much greater breadth
before il can ignore the vacuum made by a hIuida-
tion of short contracts. 1t closed with no abate-
ment Of strength. however. and with prices 204
per cent higher than q week ago for most Of the
standard shares. Union Pacific suffered from
further liquidation, bat it recovered nearly all its
loss with the substantial conclusion of negotiations
TO prevent the company's embarrassment. Louis
vile and Nashville was depressed by ftrther
liquidation, forming an important exception to the
general changes in values. Neither it nor any
other important stock, however. escaped the bene-
Git of the confidence exhibited in the markets final
dealings.
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 a week ago, preiiXed by the average
prices Of August 1G, 1890:
WEEKLY RANGE.