The sun. [volume] (New York [N.Y.]) 1833-1916, 1891-09-06
ton that served to encourage buyers. Many
Who deal In stocka become cautious After .

ton that served to encourage buyers. Many
who deal in stocks become cautious after .
continuous movement OF n week or ten days
in either direction. for experience has taught
them that reactions are rs certain to occur in
the stock market as natural forces are to OK
PEND themselves. The scare relative to tho
corn crop on Thursday was acute while II
lasted. but IL was OF short duration. Tho
street has now been alarmed twice By lore
casts OF frosts In the corn belt. aud It's
apprehensions may be again aroused on the
same point. But the crop is SO far advanced
and the area producing 1t is 80 vast that It is
impossible 10 conceive that tho crop as whole
can be materially damaged. Frosts may be
expected to visit certain localities. but a WIDE
spread calamity Is improbable. To be sure.
corn is exposed to greater risks this year than
usual. because the season 10 ten days or two
weeks late. but nothing can happen to curtail
tho yield OF wheat IA nearly all oft 10 now har-
vested even In the extreme Northwest. And 1t
is upon that crop that Europe Is relying for
sustenance and this country for an mpetus to
Its prosperity.
Next 10 tho crop situation the affairs OF tho
Union Pacific Company have engaged the
most attention this week. They may now 10
regarded as definitely settled. and very Sc
rious menace to the market is thereby re-
moved. One o. the best fea' ures OF the market
has been tho easy and continuous advance in
tho Vanderbilt securities. The effect OF this
movement abroad ia certain to be encourage
ing. The bond market has more than held It's
own. and for good reasons. 1t Is many months
since there was an active demand for invest
ment securities. yet tho accumulation OF wealth
has gone on both in this country and In Eu
rope. At the same time comrai atively few
now securities have been manufactured.
saL RUzs
that bonds have not yet enjoyed anything
like the advance that stocks have had
warrant tho assertion that the bond market
is relatively better purchase than tho stock
market. Many Issues which have long been
neglected. though not from any lack OF mort,
are now beginning to receive attention.
Among those may be noted Chicago and
Eastern Illinois S. Iron Mountain SO, Kansas
and Texas As. I.aclede Gas Sc, Mobile and
Ohio general As. Cotton Oil debentures. and
Oregon Improvement general mortgage bonds.
Tho securities OF smaller corporations apreal
to many investors more strongly than those
OF some Of the large systems. for the reason
that their operations and accounts are less
complex and can be more easily COM
pretended.
The arguments In favor OF the leading stocks
are already 30 we'll known aud so generally
recognized that 1t seems superhuous TO go
over the ground again. 1t would seem that
some OF those stocka had RAPIDLY and fully
discounted the most roseate future that can
be imagined for them. Still tho demand for
them. speculative and otherwise. shows no
signs OF exhaustion. The friends OF the West.
ern trunk lines are not only relying upon tho
enormous traffic that is In sight as factor in
enhancing tho value OF tho shares OF those
roads. but are willing to discount the busi-
ness which they believe will accrue from the
so-called International Exposition which is to
p~ held In Chicago. For example. the friends
OF c.. B. and Quincy are confident that tho
handling Of this years crops will place that
stock upon a S y cent. basis, and that the Chi
cago Fair will enable the company to pay =
cent. And forgetful Of the record OF the man
agemsnt OF the comnany in connection with
the c.. B. and Northern enterprise they affect
to believe that tho stock will regain its old
time prestige.
This week. for tho first time. Q group Of
distinctive showing in the market namely. the
shares OF tho anthracite coal companies. Ac-
cording to all accounts. tho anthracite trade
Is In good shane. yet conditions do not WAR;
rant expectations OF . pheuomenally prosper
GUS year. but rather coutl"e the industry
within conservative lines. This being the
s II sa iHs @ hs
ga Tssss tfs. IL yan n:,s Wi
would seem that stocks in which compare
, begin to attract .specu !ators. The principal
difficulty in handling shares OF that class is
them. but there are lines. and they are GER
tain to come AGAIN. when tho officials OF hnan;
sa and to shs
fairly good market on tho Stock Exchsnse.
is money enough in tho count , to co duet It's
'Sa Sr USE in is
though strenuous efforts have been made. for
Besides. 1t is in evidence that Europe will nay
for the brsadstuirs furnished It BY this eoun
| try in cash and not in securities. Az q matter
Of fact the current OF securities is now toward
Europe; and some the gold shipped there
To-day's market was active and strong. with
the ra"sactio"s we dis ibnted. The princ-
The bank statement shows large DECREASE in
| lawful money and a CORRESPONDING reduction
ins BeayT 6gt
than the statement shows, The expansion Of
in the regular, Il ade reports. Tho closing was
change cannot 30 desert tsd as OF berwise shan
absoutely confident. Monday bai - legal
hollday.the banks and exch snges will DO closed.
As compared with the. final prices OF asst
Sat rdsv the majority Of stock. are higher.
The more, important net advances are IN
American Suear,3's = cent: Lack awanna. ~
Reading and Wheeling and Lake Erie pre-
fer! cd. ~ each Atehison. 21l.: Wheeling and
Lake Erie 2.::, Chicago, Bur!ington and
Cleveland. cincinnati. Chicago and st. Loni:
and Missouri Pacific. T.. each: Union Pacific.
II: Erie and Louisville II. zach; Northern
Shire. J. each: Rchmo nd and Term NAL. Tex
a. Pacific. Western Union; and Wabash lre-
clines were in National Cordaee. y. y cent
Tennessee Coal and Iron. !. and Now Ell gland.
"a p cent
Final sales compare with those OF yesterday
- follows:
Sept Septh Sep.4 Ser.5.
Ateh, T4sF ss+ s2h Nat cerdsss.. 9.,t a..