The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-06-19

ing recent exports Of specie, which will prob
ably be continued during the greater part OF
next week. there seems to be little cause
for apprehension. A very large proportion
OF tho gold that Is being shipped now
is to meet interest due July 1 on obliga-
tons created horo and held abroad. On
some OF those obligations the interest is pay
able at London. while upon many OF them the
coupons are being sent hero and rcmttnnccs
made against them. 1t is on account Of these
payments that foreign bankers VEN
ture the opinion that there will be
cessition of shipmcnts ator the
last steamer which can reach Europe on
Juno 80 has sailsd. In view OF these crcum-
stances 1t seems safe to assume that next
week will SEQ at least two OF the clouds that
have been lowering in the financial ornament
lifted.
Another factor that many attach Importance
to is the deplorabe condition VI the financial
affairs OF tho Richmond Terminal system. but
1t is a question whether this has not been
pretty thoroughly discounted. Certain intcr-
este in that system have at last decided to te.
come aggressive In protecting the property
from the designs OF its enemies. and
to that extent the situation has been
improved /: besides. It Is almost II fore
gone conclusion that tho reorganization Of
the system will be taken in hand iy those
equal to the task and prosecuted vigorously
Minor features this wock have boon the de-
velopments affecting the Now York and New
England Railroad. the first report presented to
its stockholders by tho North American Com
pany since its organization. and the reduce
ton in the Distiling and Csttls Feeling iivi-
dcnd To what extent. II any. this Inst was
speculative tho public will never know. The
demand for the stock at the decline which was
CaleaI bv ha In, ho lt,Jd
we'll as the purchases that were made by West
ern operators before the dividend was acted
upon. Is strong circum stant nl evidence that
there Is nothing radically wrong with the en-
terpriss.
The New England Railroad situation seems
to he as full OF mystery MS ever. Those now
In control Of the prorerty are working ener-
getically to perpetuate thcmselve In power
and for n purpose that must be p ain to every
one namely. that they may eventually dis
pose OF the property at profit The ele-
ments OF uncertainty are whether they will
succeed. and II So. In what quarter. Tho
North American report is OF value rs further
evidence. II indeed any were needed. Of Mr..
Wizards incanacity to manage successfully
tho trusts which IN to the present time. he
has succeeded in getting other people to repose
in him. Fortunately for Wall street and the
investment community. his ability to attract
capital has decreased rapidly OF late. and the
sooner he il eliminated from the management
OF corporate affairs the better.
The conspicuous advances this week have
been In the Granger stocks and National
Cordage. and have been based sui stantiully
uron the same reasons. raney the cror pros
poets Officers OF the National Cordage Com
pany estimate that they will sell this
year at least $1,000 tons Of binding
x,,;,, ,,l I,,
rany has already sold four-tliths OF the
smaller amount, and has been obliged to
start up number OF factories to meet the OK.
traordinary demand for that class Of its
product. At the same time the prize has been
advanced q fraction OF cent per pound. Tho
volume OF business this year will. 1t Is claimed
by Those engage in It. be the largest in the
history Of the industry.
To-day's market was dull and embarrassing.
with Distillin2 and Cattle Feeding the only
feature. and the dealings In It were only
10000 shares The few stocks that held Soc
ond place supplI"d only about half OF that
amount The bank statement made q
better showing than was generally OK
pected. for the reason that receirts Of
money from the interior very nearly Offset the
shipments OF specie 80 far as they appea' ed In
the statement. Except for an Increase OF
nearly $3.O0OOOO In the loans. which was only
partly reaectel in the deposits. tho decrease
in the surplus reserve would have been insig.
nthcant. AS It was. the change In that item
was only S782.rO0. Tho market rallied
after the pui location OF the statement and
closed fairly strong. Tho market for sterling
exchange to-'iay deserves q word. because 1t
was ruotably easier. as It generally Is after
heavy shipments OF specie. the tension being
obviously relaxed
As oompar,d With the final prices Of last
Saturday the majority Of stocks are higher.
The moro important net advances are In Ma
tional Cordaye. 3s y cent Chicago. Burling-
ton and quincy. 81: Rock Island. %; Chi
cago Gas, Is: st Paul and Missouri Pacific.
IL each: Omaha. =: Wabash preferred. x:
Erie. X y cent Thu. noteworthy declines
were in Di.tillin9 and Cattle Feeding 90. 24
: cent: New England. -; Moth American:
Louisville and Nashville and Manhattan. X
eAoh: Canada Southern. New Jersey Central,
Northern Pacific preferred. Richmond and
Terminal and Union Pacific. \ cent each.
Final sales compare with those OF yesterday
As follows:
$ s:' /: = ss:s f. & II j!
CblcSFo II SiA Omaha 4!,a2 l.lS