New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-18
Total 90 GOSSIP ,o27.5is 9i4is3o Dec si,ss27o9 i7(
THE WEEK IN WALL. STREET

81 cOnpancs.... 9,8SsSao i'eSSdss 2.coa9ss 2lh
Total So cos..sl .o275is s9l4sSo Dec si.ss21o9 10
THE WEEK IN WALL STREET
! There was a decided shnnkagc in business at
| the Stock Exchange. The total transactions
barely exceeded 900 900 shares. against 1871,
| 1873 in the precc ling week which consisted Of
! only five business day., and against l.56s,i0s
IN the same week last year, and 2,6s5,o0l at
the same time in 1891 The general LIslncS,
may be inferred from the fact that the Clearing
House exchanges amounted to only Siij,GG2 $40,
against $685. ,66slS in the corresponding week
last year. and SOL ,913.5S7 in 1881 IL j. t.
be said, of course, that the volume Of these cN-
changes this year Is Affected by the adoption of
clearing stocks at the Exchange. but this GER
talnly cannot account for the large differences
Inc movement oi prices Indicated that the rebound
from the extreme depression ~ Jdly reached It's
elimination Immediately after :hc vote in the
lower hoase of Congress i'll favor OF the repeal
of the present silver Law. " WAS the popular
expectation That the Senate would confirm prompt
{ ~ thls expression of the public Will. The sen
ate, OF the contrary. has persisted IN what 10y
/ courtesy Is termed debate. and the delay which
results from this obstruction makes the result
every day more doubtful. II j. not at all sur
prising that speculation in stocks and railroad
securities should he narrow and confined Chiefly
TO the operations Of professional traders and small
sreculators If the delay in the senate should
bc prolonged sufficiently 10 excite fresh dstrust'
II Is not ImpoSsihl" that goll may resume ~,
outward c0'rsc. There is in this market 4 largo
amouit OF European capital i'll the shape oil st"r-
ling loans How large the amount is il is impOs,i-
bic TO say The most conservative estimates DO
not place it below SI0, 100000, and il may reach
twice that sum. Estimates of from 5000 r,ooo
I" S5J,OoO,000 are probably mere "NaLg,ratipns
If, by the delay in the senate, confidence again
should be- disturbed and European capital with
drawn, the demand for exchange could be- mot
only by fresh exports of gold. Tie outward move
ment of merchandise is fairly large ana easier
rates for money VIII help the cotton movement,
which has not actually begun. Nj present the
merchandise exports are not much more than ai'-
quate to satisfy the ordinary mercantile demand.
II must not he forgotten. moreover. that while
the imports Of merchandise have been restricted
by the stringency III money, payments on former
imports which have been postponed Will soon be-
come Imperative. With better market for com
mcrcIal PAPER merchants will he enabled 10 meet
engagements which Nave been standing for
long time If the supply Of foreign exchange is
barely sufficient to meet the present demand, il
will be utterly inadequate it, to the postponcm'nt
of mercantile payments, il added an c\t'nsIv"
withdrawal of European capital If confidence Is
once more disturbed there viii be undoubtedly
fresh selling for foreign account of American rail
way securities. In fact. in III" last week there
has been considerable selling of stocks which
have IN international market, and while this has
been merely an arbitragc business, the result mas
been none the less real.
The deIiberation exercised by the Senate may
DE considered in sense perfectly proper FL
nancal questions of great importance ought not 10
he discussed without careful consideration. IL
is within the range of possibility that general
financial scheme should be discussed and adopted
\ delay which j. caused by simple obstructlon-
lists may create ALARM and the longer it Is pro
lonecd the more disastrous. perhaps, the result
If there is actual majority III favor of the re-
peal of the compulsory purchase of silver bullion
il ought TO have sufficient courage TO fore an
early vote II may be- inferred from this lack
of courage that sentiment is dangerously dlVIicd
and the suggestions of a compromls" measure
have been in the last week altogether too Ire
oucnt In case some compromise should be- made, IT
is interesting TO conjecture how " would I've re-
ceved by the House Of Representatives and the
Administration. Would conference between the
two houses of Congress he successful: And
would "A compromise bill be approved by th" Pres
idcnt? If not, the present law would stand ana
the Treasury would continue 10 fill its vaults with
di>crcdted metal, which i not basis for in
ternational exchange. Further delay in reach
ing vote may cause a fresh paralysis in business
and in speculation.
There is still outstanding in the market large
short interest which, undoubtedly has been IL
creased in the last week The amount of 1t a.
Indicated hv the borrowing demand for stocks and
the movements Of prices j., however, simply fra-
tive. There has been for some time an absolute
scarcity Of stock certificates for delivery. The
actual owners have maintained their faith: ana.
confident of the final outcome Of the silver dis
cusson, and relying also on the general prosperity
of the country, they have refused thus far to
sacrifice their securities II This faith AMI conf
denc.. should he shaken, there might readily be
unhealthy plethora OF stocks. as there seems TO be
threatened danger of excessive supply Of money.
Incidents Of the week. which Possess moro
less interest were the passage Of dividends for ~"
first time IN thirty-ivc years by the Lchish Val
ley Railroad. and the declaration Of the usual
quarterly dividends by the 81 Paul. Rock Island
and Pacific Railroad companies The Lrhigh Val
lcys action was not generally expected. bat Their,
was no reason 10 suppose that either the -.
Paul or Rock Island companies would not pay the
full rate The market "loscd weak. but not AZ
its lowest points. with final losses OF from 10
nearly per cent. Sugar Refining. ~ usual was
the most active and prominent stock. and II de
clncd steadily, suffering final los, Of 81
per cent.
Following is the usual table. giving the mum
her of shares sold OF all stocks. the highest. lowest
and the final prices Of the week together with th"
final prices Of week prcfiNcd by the average
prices Of September 10 1sg2:
THE GENERAL LIST