New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-10-09

''-<Zoof o1l3oo' De- llVZfO' lo-E
Total 80 cos .oa4 1872 sos2s4s Dec sooi ss4 ITO
y g
Total II o2s 44o ~ l4o sOs Dec. ess7 os7 i2
THE WEEK IN WALL STREET.
The total transactions in stocks last week
barely exceeded 100000 shares. against 1,23S,so3
In the preceding week, and 1,914.s96 In the cor
responding week year ago. In only one stock
did the transactions exceed 100000 shares or
the total business five stocks contributed more
than one-half, and in fifteen stocks, which by
courtesy may be said to have been active. the
transactions amounted to $4,000 shares,
leaving less than $1,000 shares for all the other
stocks traded in. The industrial shares occu-
pied the first place in interest. but the relative
activity In them seemed to be largely que 10
their sensitiveness 10 skilfu manipulation. 1ney
were in order: American Sugar Refining, DIS
filling and Cattle Feeding and Chicago Gas.
The extreme fluctuations in them were only
about per cent on an average ana IN sugar
Refining the final gain was only small iiacuon
while the others recorded advances OF 2'49a12
per cent. The trading in them was wholly
professional, and probably the variations , pos
sessed little meaning In the railway nst fhli-
adelphia and Reading was fourth In point Oh
business, reducing the transactions IN IL 10 duil
stock. and St. Paul was second 10 IT, hcadlhs
was strong throughout the week and closing at
nearly its top price gained Pm per cent us
strength explained by the payment OF
october interest some or It's ODnPhtolS' anu
by the report that holders OF the general mort
gage bonds who have now the legal right 10 PC
gin foreclosure proceedings. will not at present
exercise 1t. The advance was helped. moreover
by belief that arrangements would DC coH-
pleted for the further extension or inc Speycr
loan although partial payment on II has boon
thus far insisted upon Atch!son. Union Pacific
and Louisville and Nashville were inclined 10 be
weak, and they closed at from l 10 per cent
lower than they did week ago. Union Paclhc
declined to 49, but IT rallied per cent from It's low
est
dition OF the company were rife put they were
In no instance confirmed. The weakness OF
Louisville and Nashville was due in part to
sales for European account. The great bulk OF
the stock is held abroad and European investors
appeared to be disappointed on the increase Dy
s., 900 900 in the share capital by the raining OH
in earnings and by their Interpretation of the
annual report. Outside the stocks already men
toned the final changes usually were small and
unimpOrtant -,
In general speculation was placid. and while
strong in tone the fluctuations were too narrow
to possess much meaning. The movements We're
controlled by professional operators, VINO derived
success from the very inactivity Of the market
The speculative calm incidentally was rulied Tor
two hours on Friday by an abrupt ana uneN-
pected rise of 10 per cent in Delaware. Lacka-
wanna and Western. The ostensible excuse was
the discovery of a considerable short interest.
but as the tlansac'ions IN II on ma u ai,
amounted to little over 1000 shares OF full stock
the short interest could not have been extensive.
The incident was suggestive. however IN snow
ing the great ease and readiness with which
stocks Of this class may be advanced. III de-
mOnsrated clearly that the supply o. noaung
stocks extremely limited, and that the
shareholders of the company maintained I'M
plicit faith in the value of the stock ana 1utuic
prosperity of tho company. Undoubtedly there
other stocks in which the speculative posi-
ton is at least similar
The market is waiting with what patience
it can command for the decision by tho Seenate
in regard to the repeal of the silver law. Inc
open announcement made in the Senate yestcr-
day that on Wednesday the friends OF repeal
would insist upon a continuous session unlll
vote was reached did not infusc life int" Spccu-
latiOn. but il encouraged Wall street ana aroused
its interest At the same time reports Of a
comurcmisc became more frequent and positive.
and in the acknowledged interview with Senator
Sherman excited some doubt whether major
ity in favor of unconditional repeal could De Sc
cured. Whether terms Of compromise VIII be
approved by the lower house OF Congress- ana III
that case by the President. II is Impossible 10
Judge. The Secretary of the Treasury has De
MED that he was in favor Of compromise, ana
the leader Of tic Administration party In the
Senate has stated that the coming struggle
would be simply for unconditional repeal wall
Street desires above all things a prompt dcci@-
ion Of the question. whether in one direction or
the other For a day or two it has busted itself
with discussing the probable Influence on spec
ulatOn and on foreign exchange q TIE adoption
of "A compromise measure.
While the exports Of grain are falling Oh, mo
outward movement of cotton has at last begun
and the total exports of merchandise continue
to show satisfactory increase over thos" al
the same time last year. while the imports are
steadily diminishing. The balancr Of trade at
present is undoubtedly IN idNOT OF tnN 'puh'I!
ln ordinary seasons the movement Of gold would
be in this direction but the rates Of foreign eN-
change remain steady although exceedingly gen
sitvc. Thus far maturing sterling loans nave
been readily extended. and there can be n" doubt
that a large amount Of idle capital in London
would gladly be sent to this country i: TIE unccr-
tainty about currency legislation were removed
There would seem To be no real basis for a com
promise the currency question, but II there
should be ii might serve to delay for the
moment the inflow Of gold from Europe which
the state of foreign commerce and the low prices
of American railway securities would seem u
justify. The stock of gold held by the Federal
Treasury beyond the amount of outstanding
certificates has again fallen below 800 0tI. and
is at present less than 100000 above the extreme
low point reached in June. The shrinkase has
not aroused comment. and certainly it has no.
where excited uneaslness.
Following is the usual table, giving the mum
Der Of shares sold Of all stocks the highest. low
est and the final prices Of the week. together
with the final prices Of week ago. preiixed by
the average prices Of october g. 1892: