New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-06
Total el cos ss,ols, i3o - ,oocs5s De. .'7cS'
THE WEEK IN WALL STREET.

W
The Stock Exchange markets last week were
somewhat less active. although total tiahsao-
tons amounted to over 100000 shares. Tn
happily. more than onc-half of this business
was contributed by five stocks, and of these
only two were railway stocks. 81. Iaui WIS
foremost. with a business amounting To over
81, 900 shares, but Sugar Refining was H'N'
and in order followed Chicago. burlington anu
Quincy. Western Union Telegraph ana ChcaSo
Gas In no other stock did the business hcaIII
approach even 100000 shares. The moNeniVht
In the leading stocks was downward from the
start Early in the week prices declined under
liberal selling, apparently for European ac-
count They sagged afterward in consequence
Of the popular disappointment that the repeai
of the silver purchase law did not attract eager
buying for investment In TINS respect lhe
course of prices was not surprising, because
Wall St..et invariably t.scounts the influence
OF any event which has long been expected
The speculative advance which was made IN
the preceding week. when it became apparent
that the Senate would be obliged 10 yield 10
the force Of public opioion. has been proved 10
have discounted the present advantages OF the
repeal. Two events in the last week ought.
otherwise, to have eyerted an important and
beneficial influence. The repeal OF the present
silver law places the currency OF TINS country
on the soundest foundation since the ClVi W ar.
The cancellation by the Clearing House banks
of the last of the loan certificates also should
have encouraged healthy, if not urgent in
vestment demand. with It's natural effect upon
anticipated too long, while the retirement or
/ the Clearing House certificates had been gong
on so rapidly for the last few weeks that us
effects had been anticipated.
The selling for European account was not
only extensive, but wholly a surprise part
Of 1t may have been speculative, but the great
bulk Of it evidently was not. II the foreign
exchanges afford a just criterion IL would
be unfortunate in the present condition OF the
Federal Treasury, with doubtful authority in
law for an issue Of bonds If the recent specu-
lative rise in stocks should check an inflow
Of gold from Europe. The small amounts which
have been engaged We're thought TO indicate a
large inward movement. but apparently they
have been checked by the return Of securities
from abroad 1t may he that European in
vestors are foresecing the probable necessity OF
fresh issue OF bonds by this Government and
that they preparing themselves for that
event 1t is barely possible that the buying
power Of Europe. as we'll as Of the United
States, has been greatly hurt in the last year
or two. The condition of this country, how
ever, is such that a revival In business, at
least will probably be as rapid as the recent
panic acute. With confidence everywhere
restored. with an absolute sound currency and
witt a discussion of silver ended for the
present generation. the business interests Of
| the country viii reawaken probably within
short time The losses that have been suffered
in some instances undoubtedly have been
serious. and the enforced economies which have
been made necessary will affect for some time
, mercantile and transportation interests and the
| last named Will be restricted somewhat by the
small crops and the belated demand for export
to Europe. These difficulties will be overcome,
| and that too probably within a few months.
Whlle the recent panic was serious enough, IL
| compelled general liquidation. either in mer-
| camille financial affairs.
The short interest in the stock market. which
| had been reduced largely by the recent ad-
| vance. appears again to have become heavy.
| and the weakness Of the leading stocks toward
| the end Of the week due in great part ~
the aggressive activity Of the bear faction. The
closing was dull and heavy. and in many cases
at virtually the lowest points In the week.
Following is the usual table. giving the num-
| Der of shares sold Of all stocks the highest.
lowest and the final prices Of the week, together
| with the final prices Of week ago prenxed
| by the average prices of November s. 1882: