New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-29
Total 60 CO.'S So sN6, 639 = ,31Oo4 IH1' s'V''' "
TIE WEEK AT THE STOCK EXCHANGE.

TIE WEEK AT THE STOCh EAChANuH.
The stock market was dull last week, ana ti'e
movements of prices possessed niue sieIi"'"noo
The resumption of business after the hoiiuaS was
at higher figures. but subsequent movements "eie
downward Further shipments OF gold encouraged
selling, but the supply of hoatln9 STOCK was ho'
enlarged and before the end oil the week carry
sellers were eager buyers to close their contracts
Throughout the week the trading was a!InoSo
entirely professional. and the buying ana sellhg
for forrinn account were also mainly speculative
The changes, compared with the ma, prices
week ago were neither large nor Important
The anthracite coal shares renamed lhe ccnTe
of interest, and, with the exception OF heauinE.
they recorded advances OF from Gd u uadipo pm
canal occurred yesterday. and was accompanies
by rumors of fresh combinations. These reports
officially denied ana y w1 our oomna ar'h in
impossible to purchase control OF the company III
the open market The meaning OF the advance
was not plain, but the wea knees OF Reading s'orh
at the sane time SUI gested that the puSlhS W.
| in opposition 70 the great Reading deal, rather
| than In solpport of il. If the ruln0fs that Tue
Pennsylvania Railroad Is seeking to control Dea-
ware and Hudson Canal are true the results Oh me
| latest combination between the coal companies
NAV not be SO favorable "a It's friends ana al
vocates anticipated. To secure the full hcnehls
NJ tho leases of the New-Jersey Central and Lehgh
| Valley companies. the Reading Railroad must he
able TO control the price and production OF coal
If the PENNSYLVANIA Railroad shonld secure con
troll of the Delaware and Hudson Canal 'oni-
pany, or in any way be united with 1t In opPosi-
ton 10 the Reading Railroad, the large ohllga,
lions which that company has recently assumed
might become extremely burdensome III thlt
event the provision in the lease of the NewJefsey
Central road by which the rental was madc pay,
able monthly might prove to be prudent anu
wise -, po
dictions about the extent Of the movement were
frequent but Numerically opposed. 1t was as
serted. II course, that Europe has no pre~nS
ifc sfnc
seaucntly the Government banks VIII 10 nothing
to stimulate The export movement. IL shouiu
not be overlooked however that last year IDe
Rank of England did not advance its rate of Dis
count above 3 per cent until April g. and that az
that time the shipments Of gold had amounted 10
over 81 100000. The average rate for money IN
New-York was above that in London. and actual
rates for sterling exchange were about ~ 80 u
and 81 as Ia for long and short bills The snip
ments since the present o owe 70, Tho same time
.e v ,SS t t Barely exceeded 81 The
continuance of the exports depends probably more
upon Europe than upon the trade balance or con-,
mercial conditions II makes very little difference
whether foreign countries are anticipating imam
cial or political disturbances or whether noiders
the continued agitation of the silver question IN
this country il must ne admitted that exports
of gold with a heavy outward movement OF mer-
chandSe present an unusual anomaly.
Efforts to hold an international monetary con,
ference are being made, and II has been announced
that the Chancellor of the British Excheaner mas
representatives 10 the meeting. The nature OF
these conditions has not been made public Az
the conference which was held on the invitation
OF the United States in 1873 nothing was accom-
plished because the English delegation was not
authorized to act on the plain purpose OF the
meeting. This was to adopt common rat,o
between gold and silver for the purpose OF estab-
fishing internationally the use of bmetallic money
and securing xity of relative value betweep these
metals" Mr. Goschen the present Chancellor OF
the British Eychequer. was member OF the
English delegation and there is little possibility
that the financial policy OF England has been
substantially changed. II was. perhaps, un,
fortunate that this country had already authorize
The coinage Of the standard silver dollars which
IL made legal tender for public and private debts
The European nations which were represented ~
that conference seemed entirely content 10 await
the result Of The experiment. new conference
might tend to increase the use Of silver IS cur
rency, but il would hardly be successful in secnr
ing fixity of relative value between gold and sil-
yer The position Of Europe has NOT been weak
cned in the past fourteen years. while the vast
accumulation Of Silver in the Unit'd States Treas
ury. il IL il not n menace 10 the silver market
~ the world might prove 10 I've an obstacle in
the way OF an international agreement.
One Of the features Ct the market last reek
more and Ohio common stock The transactions
in IL were small, principally because certificates
which are good delivery in the New-York mar
rot have not vet been issued 10 u large amount.
When the supply becomes liberal there is every
reason n expect an active speculation in the
stock. Having an international market il may
spectators Richmond and West Point was fairly
active and strong. advancing in expectation Of
the formal publication Of the reorganization plan.
The terms prepared by the committee have already
been approved by some Of the large holders Of the
companys securities, and the whole plan has been
undprvritten by "A guarantee syndicate, which
practically insures it's success.
Following is our usual table. giving the number
Of shares sold Of all stocks the highest lowest
and final prices Of the week together with the
iral prices ~ a week ago. preiXed ~ the average
prices OF February %, 1891:
WEEKLY RANGE