New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-26
Total SO co'ss7 $3.50 Sc, u, $3.50 Inc s2l29so ..
THE WEEK AT THE STOCK EXCHANGE.

Transactions in stocks last week amounted to
l,753,265 shares, against l,e04,62S shares In the
preceding week, and 3j93,S9 in the same week
last year. The interesting feature of the specua-
ton was what may be truly called panic among
bear operators. In Philadelphia and Reading
interest, and the dealings in that stock, We're
nearly onethird OF the total business The ad-
vance began on Wednesday and apparently cul-
minated on Friday. when the transactions in the
stock were nearly two hundred thousand shares
4 slight reaction, occurred yesterday, but the
final advance in the week was 8 5s per cent.
Other anthracite coal shares ADVANCED in prompt
sympathy with Reading and ended with gains Of
from two and three.quartcrs to nearly five. per
cent The course of prices clearly indicated the
been skilfuly concealed The success of the Of
tort TO force IT into covering was a speculative
every one outside the bear faction. 1t Is prOba
BILE that in Reading stock the short interest has
been y haU E1o elamnaeq That some other
the demand on the floor of the Stock Exchange
although many stocks are borrowed by private ar
rangements Whether the covering movement
stocks cannot be determined.
In marked contrast with the course Of the coal
stocks was the weakness In Northern Pacific pre-
fcrred and in Louisville and Nashville. In the
first, in spite of sharp rally, the final loss
| ceeded 2 per cent and in Louisville and Nasht
vile. Ia per cent. In both instances the sell
but few short sales undoubtedly were made by
those who lacked confidence in the financial con
stocks were accompanied by many explanations
and excuses. They were hardly necessary, but,
Of course, can do no possible harm; About four,
Nashville railroad are held in Europe, and There
are some indications that the stock may be az
fected by the general lack Of confidence which,
| company are not in proportion to It's increased
mileage and enlarged fixed charges. The cause
of the decline in Northern Pacific preferred Is
generally understood and fully appreciated
in in fhe In
seem to be almost a certainty 1t is greatly TO
be deplsred that the only stimulus to speculation
The removal of heavy short interest always
takes from the market certain support, which
at times has been found extremely useful; :,
there are 10 signs of furry in the money market
The continued contraction in loans by the CITY
banks has revived discussion Of the subject but
GENERALLY conceded that there mn Dc be- be-
den strinsency, the Federal Treasury would be
unable to, afford substantial; relief VINE W sne
demand for currency, the free gold which II
holds amounts only to Sls,s42;elS an increase sse
of only 900 since the beginning Of , the
In actual specie 81 1882 $50. In case of SCARCITY
of money, relief could be had only from Lon
don where idle capital has a acc TO ea an
of money In London may continue II is impos-
sble to predict. but the financial sentiment there
Bank Of Englan Is unable 70 market any con- 2,
holds in Its hands The guarantors may bis
called upon within short time to furnish part
failure of several banking institutions ard build
Ing societies although not important IN them
selves; have created DISGUST, even of American
railway securities. That it is wholly unreason-
able. every one In this country believes. for the
conditions here in all branches Of business are
favorable to higher prices for railway securities
no 90
ably light frost would do 1t no harm, and con-
sentative estimates Of the yield assure large
traffic in the coming year for the principal rail-
roads Of the country.
Following is our usual table. giving the num-
Dor Of shares sold Of all stocks, the highest. low
est and final prices Of the week, together with
the final prices of a week ago, prehXed by the
average prices of September &c. 1891:
wrvVTv pANEr