New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-17

severely depressed and, in sr.te Of late rally.
scarcely an important stock fails to show material
Deng spared in the losses. The fortniplitlv set
ticmcnt in London was preceded by hcavy lIGui'la-
non IN american securities, ana numerous fail
ures occurred, although only a few were con-
sidered important. The foreign selling found our
market apparently hcreft of a vital buying d.
mand. and the declines in values wor, che ,ked
only b;- Il suspension of the SELLING nrae.,r =
no troubles were developed here, the short interest
ilquidated freely, causing som" sharp recoyerics,
hut III The late dealings, when this demand slack
encd, the movement Of prices was again reversed
That the demand failed TO alfcct larger rallies
would seem to indicate it's professional character
No EFFORT was omitted TO dcmoraize the out
standing short interest by circulation of rumOrs
TO the effect that heavy imports Of gold were az
hand, ana that large rctrcincnts OF Clearing
House certificates would De made. The force OF
these influences was broken toward the clos. by
fresh outbreak Of banking troubles at Kansas
City, new failures IN different quarters aud
somewhat less satisfactory returns OF by
the railroads. II is unfortunate in the face Of
the present depression OccasloneI Ivy currency dis
trust and monetary srrngcncv. thar doubt shoul
be raised as to the future extent pt transporta-
ton profits. The Government crop report showed
deficiency in the probable wheat yield which
j significant 10 the hclt-carrying roads. IL II
also to be regretted that the embarrassment of
perhaps the largest iron ore producing synii-
cate in the country should call Now attention 10
the depression III the IRON industry Ii Is nnpo.-
Sible however, TO disguise the fact that the cvi-
dences constantly at hand of contracting business
and decreasing production must compel d"c
the railroads. 1t is to be hoped that the
threatened disturbances Of passenger rates r.
ported from Chicago will be avut"i by sensible
action designed to conserve the transportation
profits growing out of the Worlds Fair
Tho easier tone in the money market may IN
dictate returning confidence, especially rs me
time fast approaches when it is hoped that Con
grtss Will relieve the country of the incubus oil
its silver legislation, but the local BANKS have
yet to show evidence of any large shipments OF
money TO Ncw-lork. The crop movement Will
soon he under way bringing fresh TAXATION upon
New-York's cash resources More faith might
be placed In the prospect of cheaper money rN-
cent for this Other demands i'll front Of the
money market may he found in the necessities OF
the Philadelphia and Reading Railroad, Ire plan
for funding Northern Pacihcs floating dent, the
contribution required OF National COrua2e S'larc-
holders, the payments Tor hiVas1, ood
and Ouincys new stock, the ManhattanS he'u
for capital if rapid transit extensions are 10 We
nndorta ken and various other projects IN 'f-
fimatinp the chances of assistance from EUROPE
IT, should not be forgotten that while Englahu
attitude toward American securities uiN w
mainly determined by diStrusi OF our n, n,lnr,,,
II is nrobablv influenced largely by the poverty
nro0uccd first by the BarinS COLLAPSE uiice !c'iN
200 and more recently by the losses IN Australd.
Mr. should the consequences Of tlic eNtldoIdlnary
misfortunc of the worlds silver interest DC ioi-
gotten ,.rs that y
1t is contcndcd by many observers tna' ,h d
largo short interest is still outstanding III vi
stock market The speculation, however Co.'S
,vith - distinct diminutIon OF the covering
movement and with indications that perhaps
dulne.s mch. succeed the activity piOiu''" l'N'
week bv the sacrifice OF stocks a.. ,,,or
Following Is our usual 'aple, q IL !oh W., in~,nst
If shares sold of all stocks. the highest, loves
and the final prices of the week toGc,hci WIZ I
the final prices of week ago, prenNeu ~ Wv
average prices of July 8, 1872