New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-06
30 comnni~.. 81 1913 ,o7 aiG277',2 Inc s23i.3jj 81
TIE WEEK AT TIE STOCK EXCHANGE

TIE WEEK AT TIE STOCK EXCHANGE.
Although exports of gold '"t week amounted
to S4,000,000 and the stoCt free gold III
the Treasury fell to the lowest point since
in stocks and railway securities was confident
even if irregular. The demand for railway pohis
was especially conspicuous and the transactions III
them would have been much larger if there
mad been better supply. The buying was
for both domestic and foreign account. 1t Is
strange fact that, while Europe processes to be-
lieve that this country is about 10 fall to
silver basis it should be an eager buyer Of al
desirable bonds. The reason for this probably
is the growing belief that the sherman SILVER
law will be repealed within short time A nill
with that purpose will he brought up in the
Senate tomorrow, and while the advocates OF
free coinage will oppose the, measure in every
TO lead to positive action. A vote in the senate
is absolutely necessary to determine the position
of many REPRESENTATIVES Of the people 90, on tnf
fifteen years. There should be no lodging and
the American people will regard the record with
financial crisis, even if for political reasons the
Sherman Silver law should not be repealed at
the present session. The incoming Admlnlstra;,
ton has virtually announced its intention to call
meeting of Congress immediately after
March 4 if the repeal Of the OBJ,
at me MSe tse stock of scd IN the
steadily diminishing, there is no PLAN relnedy
by which the shrinkage may be checked. ray
ments on account Of customs naturally are IL,
silver certificates or Treasury notes, where year
or two ago they were largely in gold certificates
The interior movement OF money is not now favor
tons through the Sub-Treasuries. Apparently
there is danger that the SlOO,OOO,O0o reserve 10
protect legal-tender notes may DE trcnched upon
unless the compulsory purchases OF silver shall Ie
brought to an immediate end. sale of bonds
under the act for the resumption Of specie pay
ments seems to be the only alternative ana while
that would draw gold back from Europe. It's Ell
feet on the prices of stocks and bonds might be
prObematical. Rates for foreign exchange were
a trine lower, but tile decline was due prlncipaly
TO sales of bankers bills against further shlpmchlS
of gold If the market will absorb more OF them
there is no reason to doubt that the outward move
ment of the precious metal VIII De 1ainad ,S
The market was exceedingly cratic the most
active stock, and the one which fiuctuated most
wildly was DiStilllng and Cattle Leeulng 90, e ,r,
less in the week was 30 per cent No cr%l
information in regard to the real condition OF me
company was afforded by ITS Scel GER, c m cone one
fdence that the rebate fund when shouIu I've
held in trust for the customers OF me company
had been frittered away in speculative ventures;
When the stock rallied it was asserted WIN cqaI
confidence that there would be no interr9puonf.
in payments either Of rebates or oit1ue.us;
was explained also that the violent nuctuhlohs
were wholly speculative and that no change ~
! the management was likely to occur before w.
annual meens n xci snar 1he r sspcon that the
speculative directors had covered their snort saes
and that the public would be invited once more
TO put faith in hopeful Alter the
severe losses which lave beeh snhered Whit . tn
last two months il may be considered uou ',, ~
if new crop OF lambs Will We 'o"n" ''N'
| purchase the stock. .... .
Practically the second stock in activity was
| American Sugar Refining, which was extremely
| strong closing with an advance OF > L. per cent.
II is recognized that the price OF tins STOCK may
be hoistcl to any figure which the owners p ,,iS
desire Aside from the industrial stocks PM,
81 adelphia and Reading attracted the greatest
| interest Ii seemed to be pressed for sale III
sluggish way, and in spite of rallies ~ s1nsr ~,
a loss of ? per cent. A pretext was anoraeu ny
| fbe Introduction in the State Legislature OF
hin to regulate the coal trade in this State.
The passage Of sumptnary laws Is Impossible unuer
the constitution OF this country and IT Is reason
able TO suppose that the decline In the STOCK
| would have occurred even if no such bill iad
been presented. The reported understanding De
| tween the Pennsylvania Railroad and the zen
bearing on the price Of Reading stock. Inc com
ljnati0p which was formed about b year ago -
| falling 10 pieces because IL was unnatural anu
opposed to the principles of business ~ has
proycd TO ne of little advantage even 70 IN" Read,
Ing Railroad and the advance in the price OF
coal 10 consumers has brought little net money
cbasss of railroads in New-Engand, by which ~
sought 10 strengthen its hold upon the coal busl-
ness of that section. may not have been wise, De
| cause they increased materially the burdens VI
Tie announcement OF the request Of security
holders for business REORGANIZATION OF Inc
| Richmond and West Point Terminal Company re-
shifted in an active demand for that stock me
| reputation of DreNel, Morgan d Co. assures list
and equitable reconstruction, bat the common
stock will probably be 0DnScd 10 contribute moS'
largely TO this end.
Following is our usual table, giving the number
of shares sold Of all stocks the highest, i1w ,hs
final prices Of week ago. preiiAed by the average
prices of February &, 1877
WEEKLY RANGE.
ACTUAL SALES