New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-30

THE WEEK AT THE STOCK EXCHANGE.
There was evident change in the speculative
temper last week. While the bear faction
omitted no opportunity to depress prices and, on
one occasion at least employed dastardy means
to accomplish their purpose, the course OF prices
showed that their efforts were unavailing. For
the next Jew weeks, until definite information
about the staple crops may be CD
tained the Granger shares will naturally be liable
TO bitter attacks They were irregular ana va
rable according to %yng rumGs about the tn
weather at the West, and in still greater dc.
gree. according to the capriceS or necessities Oh
the bear leaders. In spite of the efforts that wer
PIT forth the Western railway stocks sod moy ;e
the last prices a week ago, their final variations
were generally small and unimportant
Rock Is land, which was subjected to severe ham,
mcrnG. closed with loss OF only IL per cent
while st. Paul gained the same fraction. ana Chl-
cacO Burlington and Quincy closed absolutely
without change. Atchison was eXceptlonally
strong after full understanding OF The compa
nys plan for the conversion of the income DondS
had been reached and in the week it gained !
per cent. Missouri Pacific fluctuated within mMcn
narrower limits. but sustained small loss Inc
largest decline among the leading shares wa
suffered by Northern Pacific preferred. but even
that stock seemed TO have rcgaincd friends ana
after a rally of l per cent from its lowest point
it's final loss was just per cent. Louisville
and Nashville was quiet but heavy on mnconfrineo
rumors of a new emission of bonds The anthrd-
cite coal shares advanced with conspicuous stead
mess, partly in consequence Of the action OF the
sales agents of the companies in making an
other advance in the price of coal, coal Reading in.
with gain of SIS per cent, and the
less activee stocks recorded still larger advances
and it reached the highest point ever touched
under its present capitalization Its mai gain WAS
1t will he seen plainly from these figures that
the ATTEMPTS in behalf of lower prices were sue
cessfrlly defeated Ii must be admitted, now
ever. that as rule the market was active only
when the bear faction was selling encrgHticairy OF
attempting TO protect outstanding contracts; lhere
was little puhlic interest in speculation. aitnough
TIC quiet absorption of sound securities which mas
tecn going on for long time was continued with
even greater confidence.
The reopening of the silver discussion in Con
greSS affected adversely the courcc OF prices OH
Friday. considerable part of the selling appeared
to he for European account, and 10 confirm SUPER,
fetal indications rates OF exchange Wcrr ahN1h.''l
i-ial-? cent to the sterling. while foreign
hol ers OF American securities unannn'euN alr
is agitatcd il may he suspected that the selling
on Friday will not bring back many stocks to ih!s
country: and that in consequence OF II no cAporls
Of gold will b, made; The low rates for
money which prevail throughout Europe
have begun TO have their legitimate influence
n L9TS Sns b boen by the
case of money! and the prices Of British conoos.
Of English railway securities and of Colonial COY
crnmen. and railway securities have advanced.
Even the Argentine securities. of various classes
have appreciated materially in conernncncc oi re-
viving confidence II may be possible that the
Bank Of England has encouraged the dcman for
these because i; has not yet marketed the large
amount which il received tom the failure ~ the
Earrings No securities which NE accessible II
the foreign investor are cheap and desirable ~
American railway shares. Whrr II IS fully un-
derstood abroad thai The latest agitation ~ The
silver quc.tion must he considered ro'hng more
than political manocuvre, European attention rs
certain 10 I've directed once more TO the American
market. II is deeply TO he regretted that the
growth of European confidence should he checked
h.. lot. al, of 10 ~
in this market. or by the partisan necessities OF
politicians
n, An Obstacle in the T'y f p GisnGF
Morgan & CO, conclud, 70 aeon. H., taslS Of
way Company. After the recent failures in this
direction il might NOT I've considered an easy
agreeab" labor. but the condition of the com
pany's affairs has reached point where no lcss
powerful a house would he justified in undertak-
ing the reconstruction OF the company. The OFFER
from the stock and security holders comes III such
n way that the banking house can exact its own
terms and condition" The mere fact that inc
invitation had been given c1nscd sharp rise in
Richmond Terminal stocks and bonds and thc
announcement OF the formal acceptance 81 the
invitation would remove the threatened DANCER
Of the ultimate dissolution Of tie system. That
the reorganization will be on widely different
lines than those Of the plans recently defeated IL
entirely probable. but 10 othc? course would be
sufficient to restore general confidence in the
comparys securities.
one other feature in the market last week
which ought not TO be overlooked the activity
and strength in the so-callcd industrial stocks
This may be accepted indication that these
stocks arc growing in popularity. but on the ~ r
hand. il may have been due in large part to
skilful manipulation. The authoritative 81 element
that the professional spectator who has had
entire charge Of the marker for the principal
shares Of this class has made large fortune ont
Of them NAV readily he believed. Ii would br
equally gratifying 10 know if his profits have not
been secured through his management Of the mar
llct price. and not commissions from the owners
of the properties who engaged him 70 distribute
the stocks.
Following ia our usual table, giving the number
Of shares sold OF all stocks, the highest. lowest
and final prices OF the week together with tie
final prices of "A week $50. preixcd by the average
prices of May 20, 1901
WEEKLY RANGE.