The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-05-29

| fiucnce hns. OF course. been the weather at tn
| West. which now appears to DO all that coult
be asked for. and SUFFICIENT time has elapsed
| to accumulate facts as to the actual damng,
done TO the crops and railway property
In consequence OF the recent floods and lorna
| does 1t is needless to cay that the reports o
| disnster to property and life have boon greatly
| exaggerated. and. 30 far as predictions arc OF
| value at this early date. It is quite probable
that a bountful crop will lie harvested in the
fall. all fears to the contrary Notwithstanding.
Seeding is now in progress
The securities OF the Richmond Terminal
Company have assumed prominence In the
market this week from the fact that Messrs.
Drexcl Morgan 4 Co. have signified their Will
ingncss to undertake the rehabilitation OF
that property There was an advance OF i'm
portnncc. which was followed by . fractional
reaction from the highest price. for. while
such an afIiliatior meets with general APP
proval. there is in prospect REORGANIZATION
of great magnitude. tho success OF which Will
make material sacrifices by the Terminal
security holders imperative. The uncer-
tainty In relation to the afrairs.of this company
has long overshadowcd the market. and has
in measure been responsible for the specu-
lative apathy that now prevails. Now that the
true status Of the company is known Its affairs
are lik ely to become less OF a market influence
and their elimination us such is not to be re-
GREETED.
The bank statement to-day rather exceeded
tho expectations OF the most sangune. There
was an increase Of 81 millions in lawful
money and 8 millions in tho surplus reserve.
which makes the total of tho last named nearly
three times as great as that Of the same week
last year and five times that Of 1890. Yet in
spite of this accumulation OF idle funds. tho
ord M tiae l,oc boo,
what retarded by the fear OF resumption
OF gold exports. Foreign exchange rates have
shown a hardening tendency for several days.
becoming rronounccdly strong to-day. Silver
agitation. while It cycitcs no special comm ent
here. now that there seems to be slight chance
OF decisive legislation In that direction. Is
viewed with moro or less apprehension
abroad. and tho resumption OF silver
debates in thu Senate this week started
n foreign selling OF securities which has
resulted in an advance in the rates for sterling
exchange. Should there be further sales it is
not unlikely that engagements OF specie may
be made. but. while London has been doing
little late in the week. tho purchases for that
account have slightly exceeded the sales. and
any extended demand for stocks would. tempo
rary at least, preclude the possibility Of a re-
sumption of gold exports.
The greatest net gain in prices this week was
in the industrals. notably the National Cord
age and American Sugar Ecnnin: stocks:
Western Union. which was advanced on tho
prospect OF an increased dividend and general
intrinsic worth. and the coal stocks. on the ad-
vance in price of certain grades Of coal and the
favorable showing OF the Rendine Company
for Arri. which includes preliminary
statements Of tho Jersey Central and
Lehigh Valley roads. The Reading statement.
as has been previously noted in this column.
was disappointment. but for the year to the
] st OF May. including that Of the Coal company.
the showing is q satisfactory one. The only
declines of note were those OF Rock Island.
Missouri Pacific. and Northern Pacific pre-
ferred. but in these securities there was par
tial recovery later IN the week.
To-day has been a fair sample Of holiday
market Fluctuations were narrow and tho
volume OF business light In bonds there was
greater activity. The transactions In Reading
issues and Atchison incomes formed the bulk
OF tho large trading. The plan for the CONVEX
sion OF the Atchison incomes into second
mortgage bonds appears to have been
accepted with favor. The present mortgage
lien for the payment Of their principal is
to be preserved by deposit Of the bonds in
trust. In four years they will bear interest at
the rate Of y cent. and will then have tho
right OF foreclosure II default is made. These
the chief points In favor of the plan
The market closed dull and strong.
Saturday. the majority Of stocks are higher.
The more important net advances were in
Colorado Coal. So y cont National CordaGe.
80: American Sugar Refining Company "a:
2'.: Lake Shore. Ok: Richmond
and Terminal and Western. 2,i each: Reading.
IL: Northern Pacific. N: Chicago. Burlington
and Quincy. 4; Atchison and Chicago Gus. 1 |
each: st. Paul, Omaha and Wheeling and Lake
= cent each. The noteworthy declines were
in Susquehanna and Western. 2l4 z cent: |
Northern Pacific preferred. y: louisville and
Final sales compare with those OF yesterday
a. follows: