New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-30
Total II co.'s 81, sis.os5 ss,62es77 Inc sso7,sae TO-
THE WEEK AT THE STOCK EXCHANGE.

The transactions in railway securities last week
were extremely light. In the first part OF the
week business was restricted by partial inter-
ruption of Geographic communication ana aiIerl
ward by an occurrence of National holiday ana
a failure of considerable Importance. The move
,ncnt of prices was sluggish and Irregular. Oh
TUESDAY buying for the short account produced
sharp rise in the anthracite coal STOCKS oecauSe
the action of the sales agents In restricting pro
duction in December was accepted as cohttaulC
ton OF the previous rumOrs Of CONNECT between
the companies. When the demand on this ae-
count was satisfied the market came TO q start
still and while at times the tendency OF Prices Is
the week have been only small declines 1oau rn
of stocks apparently were unwilling to SELL esp
cially on the publication of bad news; wn WINE
the bear faction was reluctant TO attack tne inai
ket in face Of existing conditions ,,,o,
Ono of the most encouraging influences was
the Government report of foreign commerce In
Re month tS of in the fOy Of the
try, amounting to Sl02, 1926. The excess OF
merchandise exports in the month eNceeds Soo,-
900, and in the ten months from JanuatS
TO over 100000 The exports OF Gotn CO. IN 'Ee
ten months amount to nearly S4S:5oo'ofEo; 80
that the total export movement since oanu"iS
/ is very nearly 100000! ..,.,
The present cessation of gold shipments from
Europe in the face of these hg9res SUCCESS '.e
volume of railroad securities which have been re-
turned 10 this market For some time the move
mcnt Of securities in this direction has been SUI,
fcenty plain, but it has been continually aSserteu
that Europe held very few American securities on
sppculationl and that its investment holdings were
not likely to he disturbed. The Goverilment re-
port fer October, therefore, while emlnenty sa,Is
factory from a commercial point OF view, can can
hardly be regarded as an encouragement to the
purchase of railroad stocks and bonds While IN
sense this country may not Ge II ,e neTn OF ~ Sny
large amount of the securities sold TO Europe ana
so far as the stock market Is concerned, co,4
tinuance of this reflex movement can result only
in lower prices.
With few exceptions, the Developments in the
week were favorable. The Erie Railway resumed
the payment Of dividends on its preferred STOCK.
and there were intlma tons Gua the Northwestern
and the Omaha companies, as well as the Eastern n,
Vanderbilt railroads. would follow the example
set. by the Pennsylvania and Bur,ington, a mo
confidence of railroad managers was afforded by
the sale of So 600 900 Of its new debenture bonds
by the Rock Island Rad50a noo Inc t be
additional million simply on the ground that u
did not need the money In addition to these In
cidents, the close of navigation and the begnnlng
of an active movement of the new corn crop
assure large railroad traffic for the next few
months, and officers of the leading railroad Lines
have no HESITATION in sayihg that the sra I'm thn
next year Another event which removal con-
siderable uncertainty was the appointment of an
outside committee TO exanine ana TcaGlusv nne
There is little doubt that reorganization Of the
company has become absolutely necessary, and the
composition Of the committee ENCOURAGES Penef
noeed Since the recent decline the securities Of
TIE company have been selling on o receivership
basis. and consequently the action Of the directors
prccludes any fresh disturbance.
The failure that was announced on Friday
had no effect on the market beyond tending TO
repress trading II was what Is called bear
failure and to this extent it removed bearish
element No disaster of this kind, however, was
ever a substantial benefit to the market, and IN
this instance the rehypothecaton of securities with
happy effect. Uncertainty in regard to the extent.
Of the complications created stagnant market
Yesterday and although the closing was not
weak it evidently was awaiting further develop
ments. No great activity can reasonably be ex-
pected before the turn of the year In view Of the
approaching meeting OF Congress and the near
ness Of the Christmas holidays
Following is our usual table giving the num-
Der of shares sold of all stocks the highest, low
est and final prices of the week, together with
the final prices of a week ago, prefxed by the
average prices of November 20, 1890:
WEEKLY RANGE.