New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-23
Total CO co.'s. ss.os3,2Is sss05,s7o Inc. s7l5o51
THE WEEK. AT THE STOCK EXCHANGE.

iiE NCEh Al lftE SlOOh EACHANOGI
The business at the Stock Exchange last week
| was chiefly mere trading In speculative con-
| tracts. There was practically increase in the
public buying. while the selling for European ac
| count was continued, although Oh small scale
1t should be observed that only on the bear side
| of the market there able leadership and
that the decli es which resulted from the opera
tons of tais fiction served only to check buying
| Those who confidently believe in higher prices
for railway securities ceased buying when the
market declined, and regained confidence only
when their opponents attempted 10 reduce out
standing contracts. The result of the weeks
| operations was to prove afresh the absolute
The conditions, both commercial and financial,
in this country were never more favorable to
substantial advance. They need not be re-
long time SFresG evidences were afforded by the
increase in its dividend rate by the Chicago,
Burlington and Quincy and the declaration g.; q
| road, IL is known that the principal Wander
bilt lines will make more liberal distribution OF
earnings, and that the Erie Railway will declare
a dividend on it's preferred stock. No one doubts
that the principal railroads of the country nave
| entered upon an of enormous traffic. Bounti-
ful crops have tended also to make money plenti-
| full by drawing upon the resources Of Europe
! There is not likely 10 be any serious agl'ali0h
of the silver question, and the assurances OF the
| Secretary Of the Treasury must be accepted as
authoritative on this point. 1t is useless to dis
| guise the fact however, that in spite OF all the
| favorable conditions stocks do not advance De
cause the general public does, not buy them. IL
| is impossible to account for this Indifference for
| interest could be easily aroused II the leaders
among investors were imbued with confidence
The European situation Is probably the cause OF
| the hesitation. Ii apparently was not materially
changed in the week. To be sure, rumos from
l Europe were somewhat reassurlng. put IL remains
! to be seen whether they had any 10undatloh.
Those which intimated the restoration OF harmony
between Russia and the Rothschilds were hardly
worthy of belief There is no reason TO think that
the foremost banking house in the world has taken
any part ip the new Russian loan after II had
positively rejected proposals for the whole OF IT.
Whether the ROthschilds have taken an active part
| in depressing Russian securities Is by no means
clear and il seems 10 be odmitted on all sides that
the recovery at the Continental 6onrses was due 10
buying for the short account Whatever may De
the present position of its loan, there is no doubt
that the Russian Government has greatly strength
ened IFS gold reserves, and that il Is prepared imam
ciay for all possible contingencies Tor al least u
year Its prohibition of expectation OF wheat can
not be considered altogether an argument IN FAVOR
of peace while the visit of it's Foreign Minister to
! Paris is probably not for pleasure. II
| the depression in prices at the beginning Of the
week caused by the shadow of war, the SUD-
sequent rally must have been because IL was re-
moved.
In the general market the Granger and Trunk
Line stocks were the strongest and most active
With the exception of New-A OK central when ,
was in unusual demand, their final advances du
not exceed or 2 per cent In spite of the general
strength the coal stocks were heavy, railyi1g with
! little spirit The production OF coal in October
and probably November is the largest on record in
the history of the trade. There has been no ac-
cumulation of stock at tidewater, bnt i may be
questioned whether all SHIPMENTS U lic NtoO H"sc
! been taken for consumption. While there seems TO
be probability of a conflict betweeR the COM
paneS the excessive production If continued ca2
| have only one effect on the market prices OF coal
| One of the conspicuous incidents Of the week was
another sharp break in the Richmond terminal
| securities The decline thus far indicates only
quarrel in the management of the company.
| One element in it evidently is striving to accom-
plsh reorganization with the purpose undonoted-
| " of securing the profits which would be In
| VOWED in such an undertaking. That interest
has at present no large amount of Richmond Ter,
| minal securities and the decline was engineered
for the two-fold purpose of acquiring cheap
stock and of making the reorganization more
| necessary The patience of the stockholders or
this company may we'll be exhausted. and there
I is in fact a movement among some OF the most
! influential 10 elect at the next general meeting
| careful and conservative representatives OF the
real ownership A bona-side movement OF this
kind ought 10 be successful. and shareholders
will do well TO WITHHOLD their proxies for the
annual election until further Developments IN
this direction.
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 week ago, pretXed by the
| average prices of November %. 1900