New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-19
wALL-sT. WEARS A SMILE.
RIG STOCK MARKET WITH THE PUBLIC IN
CHARGE.
RuuoRs OF MR.. GoULD's oPPoIToN-A SHARP
ADVANCE CAUSED by GOLD IMPORTS
AND GOOD CROP NEWS.

AND GOOD CROP NEWS.
wan street. wore big smile yesterday. In fact, II
hroke into a hearty laugh Of enjoyment Al tihes =
slight wrinkle got between the eyebrows; thousn.
rasse6 over its face that the fun was running 'o' %
and furious There was temptation 10 Su'"A ~
chin .nd say ~H-uum." The smiling was stsr,oo W
,he fact that more business done at the s'ocS hA
sso an toclrs than On any day since the May panic
,1esA And the business was all at advancing var
ues The suspicion Of frown was stafVeu Oy ~
rantlous brokers who have not yet grown scc"s'0'e
10 prosperity. The frown might become pVUoi 49,
II The people who have sold out their stecHs P'"a
,nreIy had their way OF the spectators VINO ha'o ou
,cls that they can't deliver able to smash inc
conditions which have made Wall Street smile nu'
the day ended with a pretty solid expessoh Vi w ,
nacency on Wall Streets face, even II the eAoosei'
biarity of the forenoon not kept up W ''ie Oi'
II Is at least ten years since Wall street naa an
tunty to enjoy hearty laugh, ana IL ID iA'i' "
cood-natlred as long as II can. .o, 81
The transactions In stacks YESTERDAY a.i'a y, ~
7oa COG shares including 30s35 shares deat 10 III 'o
unlisted department. This is record seven '-o9
large as the daily record for weeks az ttne tnious
tle summer To find its equal one Inust 20 D"o Jan
1884 although on November Is, 1850, inc Jay "noN
the embarrassment Of the Bsrhgs was iOrnans
Armed the sales in the two hours OF business
AoA ooo shares. If the Half-Holday law mad ho'
closed the stock Exchange at noon OF thst usy' uo
6curas Of the transactions might nave esoneu PS
nomenal size, But the excitement yesterday IN "os
Street was what came simply from the oro"uine ~
nnusial work upon brokers and their employees tno
oor Of tn Stock Exchange thick with men az One
Sn,ns ana the bowling crowds In the different stock
grups bought and sold about 10000 Shares OF spOcA
IN ina first haifhour The first hours record rag up
10 100000 shares, and by Oclook those nsuieS h"N
nearly been tsebled. Holders Of stocks hough' az nun
lower figures tumbled them ont by the Tea, Dut u0
steady importing of orders TO commission ooSerS spR
Piled an absorbing element which carrfee Prsee"; "t
ward There were sharp reactions from the oe''
nts Of the day but nevertheless substantial net gains
were recorded . -. i ,o-
r advances were sensational In the granger shsfs
Rock Island rose 5s per cent 10 81 To- ana oosea ~
IS 10; Burlington and Quincy tahped 3 IA 70 So La
and ended at ~ T-6 and 81 Paul advanced per eSl
70 "a 3-S and closed at ,7a he. Part Of the Suyihs
l1npuke came from the West, which pourea III US
matches espeetns the recent weather conaltfons IN ee
com belt The last fear as to the corn crop was se
clared to be diSsipated, and estimates OIL s@IN "a
900 900 900 Bushels were considered conservative
In connection with tho rise in ROCK lsisna, gossip
told an interesting story. The tale ran that ehe sons
81 Law Csaula had been covering short sales after q
veopeRs attempt to stem the rising tide and secure
stocks al lwen figures The Street has been rife WIN
rumors Of late that tho Gould intereSt was 40~@pc
the advance and brokers who see prospece ot
prosperity could not pestrain cauek* @e Ne sNoe0
punishment OF tho obstUctieniss ip the STOCK %lh'
naralSzed by the days enormous business Iae PUB
cAs pnrohases have reached such scale that exper-
anced hpOkers admitted the lmpoSsbility OF MAKING
predictions. which ordinarily they would not hesitate
TO do.
one Of the important influences In favor OF the al
vance was the announcement of additional goa exports
from Europe 10 the United states. The fact that
$500 600 gold was consigned 10 llalgarten d ~ Oil
Thursday was considered significant as the house Is
most conservative one aud has lent Itself TO any
oDerations In foreign exchange not on stlcty com-
nercial basis Then yesterday came another deeIle
IN foreign exchange rates, Win ACCOMPLISHMENTS O
J. d W, selgman had ordered 2OOOsOoo francs soiu
from Paris. dispatch to E. L. oppenhelineF HO
stated that 100000 gold had been started from bohdoh
IA America Cables spoke Of hardening tendency In
tbe London money market, due TO the elect OF large
enracements OF bullion for shipment TO AmerEa. Inc
gold movement has now reached the point Wlere IL ID
difficult 20 trace all of the cOnslgnmen6 from ABROAD us
they are made WellnfOrmed observers estimate tlat
there is something like So 100000 gold pow ON the way
from Europe The foreign exchange houses are now
freely predicting the arrival OF S25,eOo'oOo 10
600 gold before the beginning of the new year
The Tribune recently printed official figures mdcauhg
how much earlier the Western money centres lad sHP
Piled themselves with funds tins season Us company
With last year. Bankers Yesterday wnel asEeu g W
e possibility OF speculative 1IS m Sn9r " 70 tSes
hgurs and 10 the depression In foreign exchange 10 INC
TIE air In Vail Street Is full of talk of Impending
railroad deals that w tend TO reduce expenses Of COM
pctiDg roads and soUdify existing systems. haiy Oh
the projects mentioned arc tpncies pat there y a
sentiment among railway linen thai We coming year
yin witness several important combinations aud gen
sral harmoniZston of interests. Another feature OF
tue Situation is the DISAPPEARANCE OF the fear OF nee
silver lhe emphatic Words OF President Harrison,
the bold declaration OF Secretary Foster thst be would
protect the gold reserves the decided action Of the Re
publican State conventions IN declaring for honest
money and the successful operations in fefnnding the
l-2 per cent Government bonds nave given tone OF
confidence in financial circles not enjoyed for many
months.