Telegram-herald., 1891-10-26
clEWS ON THE MARKET.
HE weekly Review shovs Ravsrssis
aympsonns for rads.

el"fftats fSf sfo8es
New York. Oct. 2s.-The duliness In
Wall Street continues and the prices
OF stocks oscillate withia range too
narrow to encourage large speculs-
tive transactions. The absence of any
advance in the Bank ~ England rate
Of discount last week and the con-
unued imports OF gold. together with
further liberal incresse of the sur
plus reecrvc IN the bank statement
Of the 18th inst. were expected 80
have n revninsT effso -~sur-
krt during the past week. but only a
slight Improvement was iDauguratcd.
but the market still shows lay the
daily mcagre transactions an insenki
bility to favorable factors which can
hardly he construed otherwise than
as an ominous symptom.
Tie shrinkagc 81 transactions on
the Exchange 10 '~ss than one-hst
of their late volume plainly means
that an Important class oi large hold
ers have sold out AMI shas they are
mol at proent disposed to enie. --ss
market agasm at tse current range
~ vnlues. Hence such n condition Of
present holdings usually resats in
ciiller reaction oi prices. or IN q pre-
loncsd siagnascy. during which com
paratiycly weak holders have 30 kecp
up a eorlorn struggle against v-se
bears" Numrrau nol' - apt
10 be tsot only OF the feebler class hut
aiso include Vhe least practiced and
lnfIncntial and That is very much The
ease in she present situation Of the
marker. The capitalist class y ho
were caught IN the crisis of iast fan
With heavy 3ond< 81 ~,nn"s and third
| rise efoeks have encceeied m trans
| ferring them 10 transient speculative
bnysrs. aud the former class of opera
| tors alwavs 30 essential 10 . succssxi al
sbnli'' movement are now ouf of tire
| market. and their tactics are likeiy
| 10 favor tie ''i,eaf' Side until prizes
| arc more tempting than at present
| Theso men are AZ the wind To The ssils
| the eieam tn the locomotive. the Son
ev that makes the mare SO" ard
| market without them usually bss q
very unpromis'ne prospect.
Bat while the personnel and ths
make no of the market are not con
dssive 30 progress. but are eslculafet
20 invite periodical ''bearH attacks
the chiei current factors affecting fhs
intrinsic value ~ securities eFe distinct
/ IL fascraBle. The for-s9n demand fo'
our whssf continues upen = vers
large sfale. md the yield in the pric'
of that cerea1 is calculated 20 Hfir0B
/ late ia expert. TIE return ~ sels
from Europe showe Nc symptom .
| abatement and ~ f1pnsyo me loss 9.
ccid has 40 sar p-oaueed no ef'ert upos
The Bank Of Eneisnd rate. por tspoi
the rate IN the opes markss. while 4,
tzse sfoet market the preference 90
/ American scenrft i-s " causing . sfeaH-
ssresn ~ suyinx orders ~ Ne cables
20 View frk This IA ep~tsinl. = be*
t<r condition ei foreign firare-s ths,
| hes hren anf eipatef. Tfts nnensir,<-s
eassed ~ sfs ne~ Russxa foaa so.
! ~ reporfs ~ fresh trouble b. the A.
rensins ntrubiis ss~rp 20 hr~t N,
sfferf of st3unlattna the london d%
/ fnana for our Investments 81 fsr ~
| reepeefs uur 5s,eai money nsrkes- sb'
Imports ~ eos6 ane The moarratie-
| ~ the shipmertx ~ ssrrencF 20 che In
/ terfor leave 10 aoufss t.lat. 80. fsse -
| rnaEnapr 81 ttp ~eer. and prof.afsi-
unffI early nsrs sr-fw. fherf WI n
| 70 siffIcnat~ ~ prDcavgne money So
stsct ExeA&.ss pwpossa