New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-10
companies 81 ,l57 95s 81. e5i, l2o Inc s'9'167 o.
THE WEEK All THE STOCK EXCHANGE.

HE WEEk Al IllE MUM HNS''A.'"A"
The feature of the stock market last week was
they moved inward with remarkable unarimity:
Lake Shore was foremost with "a tinai gain OF
per cent, but Ncw-Nork Central closed 1T dh aa
vance of IA per cent canada southern anu
Michigan Central respectively Ia and l-2, and
Chicago and Northwestern gained ] per EhS
1t was the popular inference That TINS suu'en
movement was due to purchases by inside inter
csts The conclusion is supported naturally py
the fact that the quarterly disbursements lor
interests and dividends probably brought 10 ti'oSs
interests large amount of money which IT would would
not be polite to let remain idle lhere couu
hardly lie a better use for it than in further IN
vestmcn,s in the stocks and securities o. tie co,n
NAMES under the Vanderbilt control. Those coii,
I,anies. it is universally admitted are managed
with great prudence and ability. 1heir. earnings
in the next few months must be largely ncreaScu
because they occupy a favorable geogriphical
position If the traffic In consequence OF the n
position at Chicago is TO bring benefits TO any
transportation lines, the Vanderbilt system ought
70 I've at the very head AT the same time while
speculation in stocks is chiefly professional Ne
suspicion may he entertained that the sharp al
vance in these stocks was engineered by PROBES
SIGNAL Spectator who has recently achieved no
little success 1t Is not at all impossible that u
large part Of the buying, not only in the Vander-
hilt stocks, but in the general marker, was as, Iol
his account rather than for inside interests 1here
has not been for a long time any general 1nciina-
ton at home abroad to buy railroad securities.
The public apathy in regard to them Is Thoroughly
sure visible, and while investors do not reduce
their holdings they seem reluctant to add to them
One reason. and probably the most effective one;
is the uncertainty in regard to the currency anu
the movement of gold Tho continuance OF the
compulsory purchase of silver bullion is steadily
driving the more valuable metal out OF the coun-
| try. Exports of gold were checked temporarily
ly the higher rates for money and the antlclpa-
ton of financial disturbance on account Of the
April settlements. These have been completed
without difficulty, and at once the outflow OF GOLD
is resumed. The shipments to Europe last week
to be sure, were only little over 100000, but
arrangements have already been MADE Tor exports
of about 81, 00O, 900 on Tuesday, and if rates 1or
foreign exchange should remain at the present
level still larger shipments may be considered
probable at the end of the week. The condition
of foreign trade becomes every week more ana
more unfavOrable to this country. The exports
of products are checked by one reason or another.
the resumption of work at Lancashire has Drought
no demand for cotton, and speculation has kept
prices of wheat and breadstuf at the point at
which Europe will not buy them. On the other
hand. merchandise imports remain extremely
large For the last week the imports were valued
! M 5415.594 against S12,4O0,0Os in the same
week year ago, and $s.s3S,264 in the same week
/ in 1891. II has been popularity supposed that tne
extraordinary increase in imports was owing IN
part to the rerei pts in exhibits for the chicago
Fair The statement has crept into newspapers
which usually accurate The EXHIBITS are
placed under special entry. and the custom
House reports Of imports are not Affected by them
to the extent of one dollar. 1t is also immaterial
whether the imports are in the nature of censlSn-
ments or actual purchases. The relative infia-
| ton in values, which has been produced by tho
operation of the Sherman Silver law, undoubtedly
brings European goods to this market: IL t t
renting for them has not been relieved by the
! character of the transaction. An accounting
must be made. whether oar merchants puy the
goods outright OF receive them on commission IT.
is entirely natural, therefore, that the outflow OF
GOLD should become within short time unusually
large Debts must be PAID even if the success e oI
months some portion of the gold which now goes
abroad in settlement Of trade balances
| An interesting development was the resignation
of his of'cc by President Mcleod, Of the Phila-
delphia and Reading. In his letter he con-
fessed with great frank that ne was per-
sonaly an obstacle in the way of reconstruc-
ton Of the company. The resignation was un-
doubtedly forced and not voluntary. No details
in regard TO 1t have been exposed beyond the
would take up the New-YorS and New-England
and Boston and Maine stocks. which had been
purchased with the funds of the Reading e, Com
pany If Mr.. Mcleod and his hackers fulfil this
apparent promise. his resignation az president ana
receiver may have hidden significance. The
is in the hands of th so@t nand s
are entitled 10 a careful exam nation OF the
management of the company in the last year or
two. The fluctuations in Philadelphia and Read
ing stock. in spite of this development were OK
tr'Incly narrow and the final advance in 1t was
only a small fraction New England. ON the other
hand, closed at nearly its highest point, with a
gain CT nearly per cent. Arrangements for ethe
protection Of the floating debt of that com
pany were said to have been made. bur 1t IS
pany will be improved or the earnings increased
! even if Mr. Mcleod is able to give his entire
attention to the New-England and Boston anu
Maine companies.
The industrial shares, although still active,
were less prominent in the dealings Sugar Rehn,
ing lost 3-s per cent, National C0rda2c gained
about as much, and Distilling and Cattle Feeding
was virtually unchanged The volume of bust
ness was fairly large, and it was distributed more
terday was at concessions caused by the publica-
ton of a bank statement and the Iumors in
regard to gold shipments.
! Following is our usual table, giving the number
Of shares sold Of all stocks, the highest lowest
and the final prices of the week. together with the
final prices of week ago, prefyed by the average
prices of April 8, 1892:
WEEKLY RANGE
| ACTUAL SALES
April Bid Total
O. Hgn- Low fInal. April share,
Stocks. 1872. est Apri D.. 4. sold