New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-01
Total so cos. 2S7 ee5 saS76435 Inc slS777o 2'o
THE WEEK AT THE STOCK EXCHANGE.

All departments Of the Stock Exchange market
were excessively dull Throughout the week the
trading chiefly professional and The volume OF
transactions steadily shrinking. The VARIATIONS
in prices were slight and without special meaning,
although they were generally declines. Ihe week
opened with some buoyancy and closed heavy and
uncertain, but both the beginning and the end
were SO dull as to be nearly stagnant. 1t Is fire.
ouently argued that the dulness was proof of the
Inherent strength of the market, and that the
great bulk of securities is held in strong hands.
There is no reason to question this assertion,
is the most desirable one While it exists 1t pro.
vokes sldlful manipulation, which in the end may
be detriment rather than an advantage. III Is
true undoubtedly that speculation is in an eX-
pectant attitude. Whether it is waiting for the
return Of gold sent to Europe or for the harvest
ing of the crops which Europe evidently must
buy, it remains to be seen IL 1t can wait Tor either
event.
The export movement of gold was continued last
week scale which was hardly expected by
anybody. The shipments were q fiat denial of
the theory that the demands of Europe had been
satisfied While they may not have gone TO
Russia and probably found a temporary lodging
place in London, the plans of the Russian Gov.
eminent are still concealed and the danger OF
further withdrawal of the deposits in other coun-
ments the action of the Bank of England in per.
suading the Joint stock banks of London 10 main
an ann intimate knowledge of the European situation
which is not enjoyed in this country. 1t eXcltes
natural suspicion that Russia and some other OF
the Continental governments must have more gold,
and that the Bank of England is fully informed
of the fact. Otherwise it would take no such
extraordinary means to preserve It's own s .St
stock banks. If il were possible, 1T would be in
teresting to know what effect on the export move
fusing to sell gold bars may have had. There is
no basis for such calculation, but the premium
which Europe has, paid for coin has been much
more than that asked for bars.
iS Treasury decision
the European thirst for the only standard recog
nized by Tne world The indifference OF Wall
many weeks The popular belief that they will
be returned in few months appears to be unsup-
ported by the conditions abroad 1t is hardly
likely that the gold which has gone to Russia will
return, and that which has entered the Golfers of
the London joint stock banks will not leave them
while the present Chancellor Of the British Ex-
lean securities for foreign account which distin-
guishcd the close of the week was collateral evi;
denee that the EurSRean purchases Of our food
specie The increasing wealth of this country
renders it extremely probable that it can bear the
additional burden but it is hardly prudent to dis
guise the fact that in that contingency there
might be danger of monetary disturbance.
The prominent feature Of speculation toward
the close of the week was the weakness of stocks
and bonds which are admitted TO be held largely
in Europe Silly rumors about the next dividend
were pretext for sharp decline in Louisville
and Nashville AS the company will have earned
nearly per cent on its stock by the end OF it's
fiscal year, and the dividend for the first six
months was only 1-2 per cent. there are sub
stantial reasons for saying that the rumors were
groundless. The selling was SO persistent that
the conclusion seemed inevitable that the stock
was sold by European investors. Other stocks
which are favorites of the London market were
only less weak, while the strongest ones were
specalties or usually inactive stocks which are
not known outside of this country. The closing
on Friday was not at the lowest points, but even
the publication of happy bank statement failed
TO infuse spirit OF courage into the speculation.
Following is our usual table. giving the num-
Der N shares sold OF all stocks, the highest low
est and final prices of the week together with the
final prices of O week ago. prefxed by the average
prices of May 81, 1890: