New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-06-15
Total. So CON- IS 121 $685. 4os Dec. s2oo71s 81
THE WEEK AT THE STOCK EXCHANGE.

Speculation in stocks was lifeless and devoid OF
feature until near the end of the week. On FIJI
day IT. became evident that, temporarily az leaSt
gold shipments had ceased. What appeared to be
eager buying for foreign account gave sharp
impetus to the market yesterday, and DuoyahG
closing encouraged the hope that the Ionge&pecteu
turn was near at hand. 1t is suspected that tne
European buying was on orders from Ne"-i Ork;
But even if it was speculative, the strength Oh
shares were substantial The movement oil prices
is likely to he controlled by the demand Tor money;
1t is argued that all the gold sent TO Europe VIII
be returned in a few weeks in exchange for grain
and other products which it is admitted Europe
will greatly need. The theory may be correct reel;
made at a loss. and the last one at the greatest
loss. may interfere with its fulhlment WINE
money is unnaturaly easy both in Europe and In
this country, there Is no certainty tha' The
ton in Europe has been completed. The exhibit
of the Barings affairs which was made a rev day5
ago was disappointment because 1t contradlctea l
previous sanguine rumors Apparently t neo Dd I'm
which il has as collateral lot of South American
securities of exceedingly doubtful value.
The bank has three years from the date OF tie
Barring failure to complete the hquidation but II
the emergency should arise IT can call on ue
antee syndicate at any time Tor aSsistalce; %. 90
long as it can draw gold from the Umted olates
the guarantors may be exempt; but with the stag
nant market abroad, the remainder OF the Barlngs
assets in the hands of the bank could hardly DE
disnosed of at any price, The last shipment OF
gold. which was engaged on Monday BY the Amer
lean agents of the Rothschilds, was made at loss
Of about L. per cent cold 10 PROVED 70 bis bis
of any kind. There is consequently no basis Tor
an opinion whether other shipments may not DC
made on about the same terms. Inc conul,l1n o,
the General Treasury in regard TO its supply OF
gold has not been improved, In the Two weeks
Of the present month it has lost nearly $9;OoO,OOO
of actual gold, and it's net gold balance has been
lowered by $5,113,333. Its loss since January
has been in excess of S45,500,000. This disap-
pearance of the metal is surprising when IL Is con
sdered that the great buk OF te Exports ~
Europe have been paid for iii gold certificates ana
legal-tender notes. Even IL a considerable part
of the gold sent to Europe should return In the
fall It might not Immediately reach the treasury
vaults Although the imports OF merchandise con-
tinue to be on a large scale, large part OF them
are free of duties. 1t would make no materla rial
difference if the gold returned whether IL was held
by the Treasury or by the banks.
The evident cessation Of gold shipments, the
ease of money, the certainty Of a ready market Tor
bountiful crops, are potential influences IN favor
of higher prices for railway securities. There Is
disposition to awake large business in sight, but
Wall Street is prone TO discount the future, ana
the confident buying Of stocks In the last daX or
two shows that 1t may do so IN tnls case. h' ii
road earnings show some decreases compared %lth
the previous year, but that is nothing more than
had been expected Rates for traffic appear to be
well maintained and certainly they Will not ne
reduced on the very of the crop year Natu-
rally the Granger shares were most active ana
strongest and there was increased activity In Atch-
son and other Southwestern shares, along whose
roads crops are now being harvested The Gould
stocks also were conspicuous by their strength
and afforded satisfaction to spectators, who be-
leve they will lead the next upward movement In
prices Unfortunately the bond market was in
state Of complete apathy and it is known that
the Missouri Pacific Company, as well as others
under the same control, have large amounts Of
bonds for which they would like TO receive money
Some Of the industrial stocks assumed an undue
prominence, and particularly Chicago Gas was
active and erratc. The American Sugar Refining
Company declared dividend on it's stocks, which
were not improved in price by It, and the "Whskey
Trust" stock absolutely declined, although the com
pany has secured a practical monopoly Of the dis
tiling business in this country. The stock that
was issued to pay for the two Chicago distileries
recently acquired taken by a syndicate, which
seems not unwilling to reduce it's holdings Aside
from these minor incidents there no important
developments in the week
Following is our usual table, giving the num-
her of shares sold Of all stocks tho highest lowest
and final prices of the week, together with the
final prices Of week ago. prefixed by the average
prices of June IA, 1907