New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-04
Total CT CO.. Sc 725 so7 s727soea Inc @4''4oo o.
THE WEEK AT THE STOCK EXCHANGE

TIE NEfIh AL lIIE olONh
Husiness in railway stocks and securities suffered
n decided shrinkage in yOiuIne last week. Inc
almost complete stagnation which prevailed IN
tho Gyc business days was the more conspicuous
bccaus of the number Of interesting incidents ana
Influences Yet the stock market, while generalN
easier showed few important changes, anu ,''c
weakness in some bond Issues was due to spcciaI
rcasons Texas and Pacific securities deeilhc"
steadily with barely reaction, but there was 10
novelty in the explanation that the rates maoe
bv the Railroad Commissioners of Texas WERE uc
nietjnn net revenues seriously. EIchnond lci
rSinal securities suffered from the dccllnatlon o.
Drcxel, Morgan ~ Company TO undertake the t ih
of reconstructing the property. his reluSa! nav
distinctly nnfavOrabie effect upon %h'iniVlt Ioi
The door is now open 10 long-continucd contro-
ycrsics and litigation. The objection OF sonic
Richmond Terminal sccnrity-hodcrs that t'ie sIcdss
banking firm practically asked Tor Duhd pooI
in the reorganization is somewhat amusing JSg
sdcring the absolute helplcsness Of these hoiuGrs
in the nm n.r n Interested in the
constituent properties Of the sys"in. but - woulu
he well for them 10 ask what would nc the encco
Of several independcnt at@mp nnd ' coehTs q
The coal stocks were Indifferent 10 the important
advance made in prices of anthracite ann ,ie prom ON
isinc report of earnings made by the Reading fys
tenn Less favorable reports as ~ inc progress
in corn caused only trading fluctuations IN the
Grangers and the only effect OF the Lake Shore
bolf-yearlv statement, which indicates return OF
per cent TO shareholders this year, was 70 develop
n slight Increase In the investment demand Tor
that stock Railroad earnings were generally
satisfactory, but some solictude is justified as to
whether the meeting Of the Advisory Board OF
the Western roads, to be held here on July IL,
can avert the general freight rate reductions on
ttah-Coloraco business now threatened 10 pe
made Oh July 81. -, .
The Stcek Exchange adjourned last week in
time to escape the unpleasant news rnat ' h Onh bn
Gaming speculation will have Il cope with thlS
unexpected and sensational revival OF silver a2i.
,ation II is TO he hoped that the friends OF
honest money may succeed in strangling the meas
ure In the House Of Representatives and business
men will look with ultimate confidence to Pres
dential veto: But It is peculiarly unlorthnstG9
Re introduced into financial circc' Market val,
urs have withstood with fortitudc the unexpected
proongstion of the gold movement TO Europe A
revival Of European selling OF American SECURITIES
would he severe test.
TIE tendency of the foreign exchanges Is up
ward. Notwithstanding the enormous mercantile
balance Of trade in our favor. and rates are NOT
far from tho point where gold shipments would
bc profitable without the inducement of the pre-
MUM virtually placed by foreign banks upon
American geld. II is true that within two or
three We ks bills drawn against cNplrts OF produce
should he in frecr supply, but indications point
TO better crops abroad thereby lesscnlng the Tor
eign demand. Even the poor reports from Russia
must he regarded in the light of the recent per
mission granted for the resumption OF Russian cX-
ports With gold now going ont at the rate Of
renewed uncertainty On the silver question may
not easily be measured. Fortunately, home con,
ditions are generally sound, and the power Of
thc American people 10 absorb good sccuritics
may prove equal to the eqnanimity with which
they have parted with 80 large proportion Of
their stock OF gold.
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
final prices Of A week ago preh>cd by the average
prices OF July g. 1891
WEEKLY RANCE.