New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-04
bills respectively.
The WEEK IN WALL, STREET

-, 0 '"iuihe OF business about as
. 80 - was In the preceding week. but again
II WIS uneVenly divided. The industrial shares
meir ahec'ed by the promulgation of the new
TariH bill and by the uncertai,tv "a to what
chahses IN its provisions would be made before
'ie Dill hnaly became a law Even the indus
u al s"ares, however. did not move in unison.
, No groups moved together and IN almost every
a.. ~ were exceptions to the general ten
ano,, IA e,ther direction. The transactions in
~ ~ ian sugar Refining were nearly one-thrd
ol me total business in the week After fall
.. ~ per cent the stock rallied somewhat but il
sI H,ei mai loss Of 9i4 per cent. 1t fell
a. apl uniy on Monday on the publication of the
arm D'li and afterward waYerod within narrow
ln'.Ii'9' anu III spite OF The closing rally its ten
dency seemed to be down yard It apparently
i no, clear to the friends Of the company
WWHe.her tne sugar schedule a. proposed by the
ways and Means Committee viii not be seri-
ousiy modified in The uncertainty at any rate.
my nave shown 10 vigorous support Of the
.tocK' ana apparently are not likely ~ do so.
J, Is witfin the range of possibility that after
discussion N Congress Of the tariff measure Il
duty may he placed raw sugars and IN that
event II may be inferred from the policy puy-
sued by The committee that the new tariff could
proNHe an al valorcrl duty on all grades OF i'm
ported sugars. Distilling and Cattle Feeding
STOCK Waa second III point Of activity, ana IL WAS
affected by the same causes. Representa- ions
that me tax on SPIRITS would be increased
seemed to have come to naught. FOR the highest
authorities in the Treasury are reported to have
declared that there would be increase what
ever. The stock moved up and DOWN IN I'M
certain fashion. according to the runors ina,
were set afoat. IS movement however. was in
the main downward, and il closed the week
with loss Of 3ss per cent. TIL" decline in Gen
eral ELECTRIC which on small uansactions
amounted to 2'I per cert. was due chiefly 10 the
passage Of the semi-annual dividend on the pr
feTred stock. Other industrial shares moved In
the same direction. even If some oI them coulc
not b. affected by any change in the tariff ana
group was Chicago Gas, which advanced with
few Interruptions and closed with gain Of ~
hot 10 die flIa
which is already due might be paid in cash. in
stead Of scrip. but there is no good foundation
for the lcpor.. The transactions in American
Sugar Refining. Distilling and Cattle Feeding
ana Chicago Gas were about one-haH OF the
total business.
Railway shares were strong and with few ex-
ceptions tended upward. Those which have an
international market made the largest adj
Vances. although it does not follow that tn"
principal part OF the buying was for European
account. Union Pacific was especially pron>i-
nont by its strength. although the commtler
appointed TO reOrSaniZe the company has hardly
more than begun its work Louisville and
Nashville advanced materially cn the excellent
financial condition Of the company ana Atchl-
son slOwl% advanced. Final gains III n"
Granger shares rarely reached per cent while
burlington and quincy closed with a loss Of =
per cent. Another exception was furnished d.
Lake Shore. which was by no means active, oui
it suffered loss Of over IL per cent sock"
that have been selling for long time nj low
prices showed signs Of awakening. Erie re-
corded fractional adyanc" on me puoHcauoh
bic exhibit than has been generally expected.
and by the appointment, OF committee 10 pre-
pare a plar Of reorganization.
Great interes. was fell at the close of the
week In the recommendations which the Presi-
dent will make on the assembling of Congress.
The position Of the Treasury al the END oi I'VE
months OF tho present fiscal year y on" Ger
tainlv not to inspire confidence. The "Nrrss ~
expenditures over receipts seems - be "i'alilA
increasing ana at the present time the den
cien.y is nearly $50 90 00e Tho charges In ia"
tariff proposed by the Congress Coinmittc@ as
suledly wiz not enlarge the receipts. while N"
expenditures Of the Government cannp' ht M
terially curtailed. The chairman "i me co!nnli,.
tee has acknowledged that the proposed Ia'hl
bill will cut down the receipts from customs ~
s25 OO0 900 while other estimates nave been very
much larger Even on Mr.. Wilson'S admission
a deficit at the end OF the fiscal year Of about
500 600 600 appears not 10 be Impossible. IL !"
an interesting question how the Government
will raise funds for the payment oi us ordharE
expenses. That the Presidents Messasr VIII
contain some suggestions on TINS point mas bech
assumed In the opinion Of Wall street an -
sue Of bonds IS the only alternative unless d
duty should be placed on sugar, ana perhaps
Tea and coffee and unless the revenue tax on
spirits shall be increased. 1t has already bcen
Suggested in an unofficial way that II an Issue
Of Government bonds should be made IL W9uIu
be offered for popular subscription ih9''"" "'
being negotiated in a block . 49,.
Outside cconomir discussions in Congress me
conditions affecting speculation are unusl''llF
Favorable General trade reports indica,"
greater confilence in mercantile circles, al
though no great revival OF business coud De
not only in this city but AT Western points: lS
proof Of a lack of demand but at the same uinc
rosuonsibla borrowers can secure any amounts
needed for legitimate enterprises. one uhIoitu-
nate result Of the vast accumulation OF l"r
money is the fact that il deteis an inward nov
ment Of gold The balance OF trade Is Ia'BrF
IN favor Of this country. and without other m
0uences gold would be arriving in conslderape
volume Certainly much better ana nI"ir
confident tone in respect To American hallWay
securities pervades the London market Whip
The selling by holders on the Continent has
come 10 an end. In fact in the lasi week nod-
crate amounts Of both bonds ana STOCKS haNr
heen shipped to Europe. At the same uine eoih
docs not come in and the rates OF cNcnahee
remain strong. with an underlying tehu"hcS
toward even a higher level. In railroad matters
thn latest Developments have been toward re-
construction while the earnings reporter ndNr
hcen eminently satisfactory. cross earnings
for the last week reported show raining OH 81
abort G per cent compared with the same WEN
y wear ago. but the latest net earnings nav
shown most fortunate results IN general me
market has been controlled largely pE P'"T9-
gional operators. but public interest IN fpecuid-
ton is sure to be reawakened long before IN,
present session of Congress VIII nave nilish'"
its abors. ,, ,,,, ., ,,,r,
Following is the usual table giving thc nun
her Of shares sold of all stocks. the nghes''
lowest and the final prices of the week To-
eether with the final prices Of a week age pIc-
fixed by the average prices OF December - l''-'
THE WEEKLY RANGE