New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-24
Total CO cos. l57 075 sS,5O7273 Inc s8lo.59s !
THE WEEK AT THE STOCK EXCHANGE

The Stock Exchange has leen clos since Tim.
day. In spite OF this unusual recess the VOLUME
of business was slightly larger than that of ths
previous week, In which there were five business
days., and compares favorably with the correspond
ing week year ago when there was no HOLIDAY
II may be hyIercritical TO call attention TO ii.
excessive prominence Of special stocks New
England d Philadelpb a and Eea ling c01tlibutea
mere than one-third OF the total business and
nearly the same proportion was furnislel by Dis
tilin9 and Cattle Fee ling, Chicago Gas, Northern
Pacific preferred, Chicago, Burlington and Quincy
and American Sugar Refining. In point Of actiy
ity, the importance Of these stocks accvrdno
to the order In which they have been named
Their final changes were Irregular New-Englanl
lost | l-2 per cent in consequence presumably of
the delay in announcing the mysterious arrange
mcnt which has been pre- ictcd frequently in The
past few weeks and Reading lost l2 per cent frola
sheer sympathy. The only other substantial De-
lc inc in TIE ading stocks was suffered by Northern
Pacific preferred which was exposed 70 a vigorous
foray By the Dear faction. On the other hand.
Dsuling and Csttle Feeding recorded record fnrthe,
anger frac ion below it, gle point, and Chi aga
Gas and Sugar Refining gained each 5.s ana
Burlington and Quincy "a per cent, Outside
Nh s stocks the market was quiet within narrow
limits. As rulo. the Granrer shares Wee
,troag. although s., Paul clo e alb olut ~ withou;
change: the trunk line stocks were dull but
rather heavy and the stocks which enjoy an inter-
national market almost invariably were depres,i.
The m 81 important event of the financial
week undoubtedly was the advance In the Bank
significant becau-, it was caused, not by greater
commercial activity, nOr even by an urgent specl.
lative demand, but simply by desire 70 check
the movement of gold from England {! the Cont
uent In the week the Bank lost ts65,000
bullion on balance, and the outward shipments
Of gold amounted To El.2to,OOO OF which the
great bulk went to Germany and Russia. The
advance in the discount rate was an official pro-
test against continuance of the movement, and
il may be inferred from the well-knOwn polcy
of the Rank that if this advance shall not prove
10 be enectua, il will be followed by Others
IL is uncertain, OF course, what advance VIII
he necessary because Russia and Austria-liungary
carefully conceal their desires for the precious
metal but continue 10 secure II on the best
terms they can obtain. IL is evident tnat there
is well-detned and general fear in Europe that
gold will become scarce. If the Bank OF Eng
land should Gucceed in checking the drafts on
It's own stock Of gold fresh demands on tbs
country may he ma4e by Continental nations.
The advance in the price Of money in London
concerns Us still m re- closely. because the bal
ancc OF trade has recently turned AGAINST tins
country. According 10 the Government report
of foreign commerce, which was issued on Thurs
day the merchandise balance against this coa1
try in September was SlV.0i3.i5 against favor
able balance # S?l ,349,34s in the same month
last year There were several reasons why The
exports OF merchandise should have fallen of last
month, but the movement began three months
ago. and now has become only more pronounced
and important. In the first quarter Of
the present fiscal year. the excess Of
the s same price year ago In these crcun.
stances it Is TO BE- hoped that the European
lem Il for American railway securities may
speedily revive and become broad aud ,Itant.
There were not wanting last week plain in,icl.
tion- of greater interest on TIE part Of Eup
pean spectators and investors. \ considerable
amount of railway bonds was shipped abroad
and the speculative buyirg of stocks was larger
han il had been for some time. The condition.
in this country. in every branch Of business. tell
of unexampled prosperity and the TRANSFORMING
companies are rcapng the benefits If commercial
activity. They ere handling an enormous volume
of traffic and although the reports OF earnings
| are brought into comparison with heavy returns
last year they still show moderate increases
There would appear to he no reason why Euro
pcan investors should not become earer buyers
# American securities. for they will nowhere
else secure better returns with the same degree
Of s2fety.
Following is our usual table. giving the number
of shares sold of all stocks; III" highest lowest
| and final prices OF the week together with The
final prices of week ago, prefiXed By the averag.
prices of October "a, 1891.