New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-14
Total IS co.'s. 2s3s7c s9ooa SOL Inc. sG257lo 0.
THE WEEK AT TIE STOCK EXCHANGE.

The most favorable features Of speculation last
week was a fresh demand for railway bonds. The
transactions in the open market were unusually
were satisfactory. The business included great
variety of issues, and, although the advance In
prices was neither large nor regular, the tone
OF the market was strong and confident
The speculation In stocks WIS devoid OF i'm
portant incidents. IL was full Of anomalies, and
the final results were not wholly encouraging
ing for the short account, and aside from pro,
fesional sales to realize profits the selling seemed
chiefly TO be by foreign holders. The largest ad-
vances were recorded by industrial stocks, or n
few other which were affected by special causes
Some OF the most substantial stocks suffered
larger declines than Others which are without
hope of dividends A great deal was said about
the discrimination by buyers, but Lake Shore
and Northwest closed with losses of over per
cent. while ST. Paul and burlington and Quincy
clined nearly as much as Louisville and Nashville
advanced, while Richmond Terminal rose =
per cent, and Missouri Pacific lost about as much.
The Northern Pacific stocks continued 10 be weak
In spite Of occasional rallies.
Inc continued weakness Of the Gould stocks
gave rise 10 the theory that the Gould Interests
were heavily short of the leading stocks: Inc
akness of the bonds of the same ralroa.is
ought 10 explain in part the position oil Mr.
Gould and his followers. That there IS large
short interest still outstanding may not DE denied
and il would appear 10 he certain that the Gould
interests are opposed 10 o further advance III
prices. The reason for this may be- not that
they wish 60 take advantage OF every oppof-
tunity to convert their securities into ready
money.
There was, in fact TO change in the specu-
ative situation The trading was chiefly local and
professional, and public buying was stimulated
neither by the advance. nor the decline. me
conditions were extremely favorable 10 renewal
OF activity. but the only expression OF confidence
and the only result Of excessive ease IN money
SS ,ne Of "rcbnnSs Ss Continued ON
large scale although the shipments of grain were
aarN cdhy the freight blockade ct Chicago. This
unusawl event may prove TO ne an injury nei'. me-,
transportation companies which must carry 10 TO
the seaboard. Heavy receipts would naturally in
vove lower prices. while the railroad companies
are sure Of the business at time before the
reOpenng OF navigation.
In spite Of the heavy exports Of merchandise
and the trade balance In favor of this country
the movement of gold has not been renewed. a.
though few shipments have been made with
ont regard 10 the prices OF exchange. This conn-
try has been gradually absorbing for year securi
ties previously sold TO Europe. With the addi-
tions TO its wealth which have come from
abundant crops it may he enabled TO rebuy all
that Europe wishes 10 sell. The advance in the
rates Of foreign exchange can hardly be eX-
planned in any other way than by the selling OF
securities for foreign account. The meeting OF
Congress. with the assurances given ny the fresi-
dent that free coinage was not Ut present possible
had little or no effect on the course OF prices
An incident of the week was the sharp. rise
I'm Richmond Terminal stocks and bonds. Al the
general meeting OF tine stockholders the Read
lnstmentr Committee authorized 70 resume
it's work of preparing plan OF reorganization,
but the advance in the stock is not necessarily
an evidence of complete harmony in the manage
ment One faction evidently desires what would
bc equivalent 10 an assessment on the stock. while
the other processes 20 he opposed to the scheme
The latest buying was acknowledged to be by
the East Tennessee interests, and change in
the control is not impossible.
Following is our usual table, giving the num-
her of shares sold of all stocks the highest low
est and final prices of the week, together with
the final prices of week ago, prctxed by the
average prices OF December -, 1890:
WEEKLY RANGE.