New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-07

THE WEEK AT THE STOCK EXCHANGE.

Speculation in stocks last week was active. eX-
cited and cratic Early i'll the week Delaware
and Hudson Canal advanced sharply on the theory
that control Of the company was sought by the
Pennsylvania Railroad and aiterward by the New
York Central interests. No important develop
mcnts in one direction or the other have taken
place and the stock lost all It's early Improve
mcnt As group. the anthracite coal shares
closed lower than they did Il week ago. and Read
inc particularly was active and weak under real
ling sales. An equally mysterious movement III
New gland was begun on Wednesday, and since
that day the transactions have covered the en-
tire share capital two or three tines 1t may he
doubted whether the control Of that company has
not been changed or greatly modilled. Inc an
nouncement that Dr. w. Seward Webb, son-in-law
of the late William II. Vanderbilt, bad agreed TO
accept the presidency of the Ncw-England Rail
road was assurcdly correct That he had reasons
for altering his decision put end TO the spccua
tive differences that were drawn from his original
acceptance II is beyond dispute that the Wander
bilts positively declined to take any Interest IN
the company even TO consider arrangements Tor
an interchange Of traffic.
On Friday there a sharp rise in Lake Shore.
which followed by another advance in the
but its gain for the week was % 1-2 per cent. In
comparison with other stocks which have recently
been forced 10 high level the movement IN II axe
Shore not unnatural or unreasonable. Inc
rumors that the company was about TO declare
stock dividend were not confirmed, and doubtless
the abrupt rise in the stock Il surprise 10 the
principal owners IF the property.
These several movements may have been the
result simply of skilful professional manipulation
manocuvres of this kind is 10 conceal, invariably.
selling of other stocks. Wien control of any
property is really desired the purchases are con
Quoted with the utmost secrecy and without mys-
terious rumors. which would tend 10 advance
prices and virtually TO defeat the purpose Of The
operation. The heavincss of the anthracite coal
shares while popular attention was distracted ny
brilliant movements in Delaware and lludSon New
England and Lake Shore, affords some ground for
the suspicion that the authors of thc great Rcalng
deal were not unwilling 10 reduce their holdings
Of Reading securities. II may mol he disputed
also that the interests which recently secured
representation in the Lackawanna COMPANY have
sold some of that stock. which they claimed 10
have bought for investment. The mystery which
has surrounded speculation in the last week may
not he so deep. Therefore. as The average spccu-
lator has profcssed TO think
A favorable feature Of the trading was partial
resumption Of buying for European account THIS
was most pronounced in Erie. which advanced
steadily and although its final gain was little over
I per cent its last price only fraction below
its highest point Other favorites of the European
public were also in demand. and they also re-
corded gains of from ! 10 per cent. IhcSc p9r-
chases were not sufficient 70 affect materially the
foreign exchanges. and shipments Of gold were
continued on fairly large scale. The outward
movement of merchandise remained heavy and the
anomaly still presented OF merchandise and
gold leaving the country at the same time II
would seem to be not improbable that the great
banking houses Of Europe anticipated some con-
vulsion Of which nothing is known in this coun
try No further developments in regard 70 an IN
ternational conference on silver have been. made
public. The Secretary of the Treasury Is stlu
abroad and although ii is known that he has
seen the Chancellor of the British Eycheqner il If
not known that arrangements for the conference
have been completed.
The closing yesterday was weak and almost
demoraized Nearly all stocks fell rapidly, and
many suffered substantial declines. Tho reason
which accertcd most plausible false
report about Mr.. Gould who is travelling in the
Southwest. Whether the the cause 81
the weakness or an excuse for il was not entirely
clear. There are many reasons for believing that
Mr.. Gould has arranged his affairs in such n WY
that npWssof his death would have nothing more
than n sentimental influence on the market.
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, prefycd by the average
prices Of March :. 1891
WEEKLY