The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-04-09

the properly. and II certainly IL not q bull
argument upon the stock that Mr.. McLect
proposes 10 devote HE entire abilities to thu
MANAGEMENT OF . road which. unfortunately. II
gradually being forced into the hands Of III
competitors. One Of the most interesting de.
~velopments this week 10 the Information which
comes from authoritative sources In Philadel.
phia that the Reading Company was and Is d.
rectly interested In Mr.. MoIsod's speculations
in Boston and Maine and New York and New
England stocks.
It may be remem bered that when Mr.. Nc.
Leod and his associates purchased those
stocks and began tn take an active part In the
management OF the two companies. he and
they were very positive In their ents
that the Reading Company incurred no risk
whatever in those transactions. Staten ents
were made repeatedly. both by Mr.. Mcleod
and his Philadelphia friends. that they. and
not the Reading Company. were responsible
for the alliances between that company
and the New York and New England
and tho Boston and Maine companies.
It Is now a matter Of record that Mr..
Mcleod did not tell the truth. and conse-
quently he has become discredited and COM
PEELED to retire from some OF the positions he
hold. That he has been compelled to do 30 Is
one OF the most favorable developm ents that
has occurred for u long time. since II is EVIL
dence that security holders will not submit to
questionable methods In the management Of
corporate affairs.
Investors have another reason for congratu-
lation In the decisions In the Ann Arbor Rail-
road labor cases. Tho points raised in those
cases. which will soon DO definitely deter
mined BY the Supreme Court OF tho United
Stntes. are most important. and II the dccls-
Ions OF the lower courts are sustained mate
rtal Ns~-rn.s iii l-.~ .-r -~-I~ Aa-..l -.
tablishing tho right OF corporations and indi-
viduals to conduct their affairs as they sce Mt.
The speculative community Ia still exercised
ovor the shipments OF gold. though as yet the
outward movement Of specie has not assumed
large proportions. The hears on stocks have.
as a matter OF fact. been disa ppointod. because
tho shipments OF specie have not been'as large
as they had hoped. The exports today. for
Instance. were only $500. 900. whereas the i'd
vocates OF lower prices had insisted that
several times that amount would be shipped.
The outward movement on Tuesday. however,.
Is likely TO be larger. possibly 81. 100000. Inn
portcrs are not inclined to remit. on account OF
the stiffness OF the money market. but bank
ers who arc favored with the orders Of the
Austrian Government. and to whom a trihing
commission appears to be Of much Importance.
improve every opportunity offered to send gold
out Of the country
Missouri Pacific was a feature this week he.
cause OF the efforts that have been made to
deprsss the price; but Notwithstanding those
efforts. It closes nearly 2 = cent higher than
Il week ago. The most conclusive answer to
the arguments which are advanced against
this stock is the fact that the largest holders
are Its most persistent buyers.
The same statement is true Of Rock Island.
Chicago Gas. and the Vanderbilt stocks. Tho
Industrials. though actively dealt in this
week. have not made any decided progress In
either direction. Some Of them are higher and
others lower. changes that simply reflect pro-
fessional sentiment.
To-day's market was quiet and irregular.
The bank statement showed a loss in lawful
money OF moro than $780, 600. and the sur
plus reserve was logically reduced by the
heavy loss in legal tenders.
As compared with tho final prices OF last
saturday. the majority Of stocks are higher.
Tho moro important net advances are in
Lake shore. 4 n cent. New England. 3N; Mis-
souri, Pacific, TX: Chicago Gas. 1A: National
Cordage. IL: Rock Island and N. Y. Chicago
and st. Louis. 1K each: Northwest. l: st. Paul.
X: Chesapeake and Ohio. Toledo. Ann Arbor
and North Michigan and Western Union. u
a cent. each. The noteworthy declines are
in Manhattan. 2 e cont: National Lead. .:
American Sugar Refining Co. TX: American
Cotton Oh. TX: Omaha. ~: General Electric.
\. and Louisville and Nashville. y y cent
Final sales ompare With those OF Yesterday
a follows: