New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-12
ro., y s1Os16 $40 s11 $50 442 Inc s773sS2 q
THE WEEK AT THE STOCK EXCHANGE.

cnoonla,ion in railway securities was dull and
,,,;ntorastinc last week Frightened by the pass
! inc Of the Missouri Pacific dividend and the won
derful power over the course OF prices eAerted Dy
| ono man public demand has fled from the mar
! ket Until il returns there Is little chance Oh
speculative activity IN either direction. AZ prs
ert the control Of prices has been left IN the
hands of professional traders who are nOuoIlousy
careless OF conditions and jealous only IN the
quest of profit. The quietnesS OF the msdEet Is
restful and wholesome ii clearly proves the nat',
ralness of the recent advance because IL that hdd
been promoted simply by skllful manlpUlauoLr 10
recessOns would have been permitted
I'm the midst OF speculative excitement, when
buvers are apt to neglect even ordinary precau-
tions in respect to discrimination some stocks are
certain To 90 far beyond their intrinsic worth.
In few instances that may have been the case IN
the recent movement, although the existing con-
Gitions are So maTvelOusly different from any
which ever prevailed before that the merits Oh
most stocks cannot easily be estimated.
One of the prominent features of the week
was larguid selling for European account,
Realizing sales both by foreign and domestic
beders were taken with the utmost equanimlty.
and although prices Yielded fractionaIS at the
moment no important declines were achieved
| Aside from the process or absorption Whlch Is
constantly going on, the operations OF the week
have left the bulk Of stocks in stronger hands
than they were in before. on course the mar mar
| ket was hammered by rOom-traders whe grasped
eagerly every chance 10 make Is per cent
| Their efforts were inadequate to detect any weak
spots, although they added considerably to the
| short interest
The attempt to attach importance TO the post
| ponement of the quarterly meeting OF the al
| visOry Board of the Western Traffic Association
was foolish and vain. No questions OF sulhcleht
! inheritance to compel the attendance VI SICK SICK
| men would have come before the meeting: Inc
| condition of Mr. Goulds health is such that ne
! could not well endure trip TO chicago. but
! this fact is not good ground for the inference
that he wishes TO obstruct or destroy the asso-
! ciation This suspicion entertained in some
| quarters chiefly because the Missouri racine
| Pailroad was REPORTED to he cutting rates. Inc
| disturbance in the Southwest is no greater than
| il has usually been at this scason and. rs a
rule railway rates well maintained through
| out the country -,
AZ il has been remarked before in this column,
all the railroads will have for the next few months
| nt least more business than they can promptly
handle and any cutting Of rates VIII sinply, IN
lure the railroad which authorizes H. Inc NJ ~
| souri Pacific episode. moreover. is TOO fresh IN
mems minds 10 permit the suggestion thau MT.
Gould willingly will do anything TO influence ahe"
public antpathy. ,... ...o. 90
new stocks and bonds are not an argument in favor
| Of higher prices. In several instances
which occurred last week .d the i Fgle may 6y
several companies are made necessary by the
immense increase in traffic. improvements "a
the roadbed and additions 10 the equipment mus
be made in order that the companies may IN
crease their means Of making money IN IN Ine
cases of the Louisville New. Albany and Chl-
cago and the Hooking Valley railroads me
English method Of providing FUNDS lor Iest
| nose new issues of bonds The fact that so many
| companies consider this suitable opportunity fo
the marketing of securities is an evidence o.
the universal confidence in the financial ahC
| commercial prosperity Of the country ana th'
stability of the Stock Exchange market.
Following is our usual table, giving the mum
Der of shares sold of all stocks the highest, low
est and final prices of the week together Wit IT.
average prices Of October II, 1890:
WEEKLY RANGE.