New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-16
IL compauies.ss $50 OPS 60 o7s 7Co Inc sIo7 s3o 30
THE WEEK AT TIE STOCK EXCUANGE

\ more cheerful and confident feeling pre-
vailed in tho stock market last week 1t was
exhibited not only in the substantial advances
Which were made in stocks and bonds but in the
wider distribution of business and the compare
lively large transactions in issues that have long
been dormant Tho demand for railway bonds
was especially marked while the supply in most
issues was Inadequate TO satisfy IT, The change
i'll the speculative sentiment was disccrnihlc in
nearly every department Of the Stock ENchanp
markets. 1t seemed to spring from general
COMPLETION that the sherman Silver law would
finally he repealed even If no positive action
taken at the present session OF Congress. lhlS
growing belief seemed TO be entertained abroad
as well as IN this country, and purchases of
railway securities for European account were
much heavier than they have been for several
weeks. In the general railway list the outward
movement was sufficiently uniform. The. deal
tenSive and their final advances were from TO
5 l-2 per cent. The stocks Of railroads in the
Southwest were in demand at somewhat smaller
advances and the anthracite cCal shares, with
the single exception of Philadelphia and Reading.
which suffered a fractional loss, gained from 20
) per cent. Much larger advances were made in
special stocks, New-York and Northern preferred
rising IA per cent, Consolidated Gas Q 'l1l, ana
Manhattan Railway Ia 5-s per cent. The con
and Cattle Feeding. The entire share capital Of
that company was turned over one anu one-half
times in the week
Its movement was Numerically opposite 20
that in the general market, and in spite Of slight
rally it ceased at final loss Of nearly | 0 per
cent. The reason for the decline was not plainly
seen because the business OF tic Company was
never so large as at present, and It's profits IN
consequence of the advance in the prc" OF spirits
must necessarily be enormous. The excuse for
the decline was tho possibility of an inquiry by
Congress, and perhaps hostile ley lslation. On a
similar occasion when some of the specula tive
officers Of the company wished q decline In tie
stock legal action in one or two States was lnNti-
gated. II is possible that the same motive may
underlie the threatened investigation by a com
mittec Of Congress. The movement in tie stock.
in other words. may be entirely speculative. 30
far rs has been asccrtained, il il a contest b"-
tween o speculative cliGUc on the bull side whose
| headquarters are in Ncw-lork, and an opposing
| faction situated in Chicago, in which officers OF
the company are believed TO be largely intrr SEA
The short interest, which is reported TO he "N-
| tensve, created when the stock was scllns IN
| the seventies. and when official reports IN regard
to the business and earnings Of the company were
| entirely favorable Whether the short interest
has been satisfied by fall Of nearly 20 per cent
| has not been made manifest The decline was
| a popular dsa appointment because The stock had
| been widely distributed in the expectation of
| further response 70 the improved conditions o.
| the business The decline naturally Affected ad-
versev others Of the industrial slar's and
| of stocks influenced by special causes. Otherwise
| the harm that was done was Of little consequence.
| and the resistance which offered by the gen
| cral market IN every way courageous and
| admirable In fact, further decline IN Dstillng
and Cattle Feeding wonld be likely to effect
| separation between il and other active stocks.
The decline in Philadelphia and Rcailng vas
little less than per cent. That was soincwhat
| declaration Of full interest all classes Of Tie
| intGipe BOMBS. Probably shareholders were de
| turbcd by the necessity Of horrowin@ the money
! with which to pay the interest The collapse Of
| the anthracite coal combination must be admitted
to be more apparent then Ica because ihc mana
gers Of the different companies Will not enter into
| Il contest about the price OF coal
| Following is our usual table. giving the number
Of shares sold of all stocks, the highest, lowest
and The final prices of the week, together with the
final prices of a week ago. prcXcd by the average
| prices of January 1G, 1892:
WEEKLY RANGE.