New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-24
. c1mpa i'....s % 99f til5V3 Il Nc F--'V-' %
THE WEEK AT TIE STOCK Enc lIANGE.

THE WEEK AT TIE STOCK EXCHANGE.
Never before probably did the chief financial
officer of great nation attempt 10 lnjnrc 'lc
credit oil h, own county The uncertainty ana
apparent Vacll!atlOn shown III the last "erk ~
the Secretary Of the lI,asaTy have been Wlthou,
a parallel Ills first Official Hitc!ancc III r-dfi
70 the policy which he should pun I'll" merely aId''
to the gen, raj dlstruSt and uncertainty. 40 'ho
very end Of The week there was apparently II,
certainty that a Ecw policy might IL adopted
before Monday morning. The cnga- cement 0l an
additional Sl,c0U,uOo III geld, winch c2uId noU
be shipped until Tucsriay. was Il sigD that the
ship feared that Tomorrow they night not DE-
able TO obtain tn" gold from tie lTasury: Inc
suggestion that the recent exports OF go!d were
in any sense artificial, or ne rcSult OF Il coz
spiracy 10 torcc an issue of Government hondS,l
almost too foolish to b. treated of seriously: Inc
Government report of foreign commerce IN 'c
month OF March, which was issued this week by
Il department of the Treasury, Is a distinct ana
GGchiitc contradiction Oh ,lr NOTION "" !I
Western haN" Instlllcd mo tHe
mind Of the present head OF the treasury:
For the three quarters Of the present
fiscal year me merchandise balanc" AGAINST
thi, country i, Si,.1l92s6. against an cAccss
Of exports IN the same period last ycar OF ?-u",-
$50. O96 Here il II dilicIcnc" of - j?,263.SHo.
II j. absurd 10 SUPPOSE that the bear faction
in Wall street has hccn importing merchan Use
Tor the sake OF compelling gold exports, or that
bankers ship gold for the purpose OF securing a
picayuue commission in marketing a new iSSilr OF
Government bonds In addition 70 the uniaror-
able trade balance this country has been receiving
\
an immense amour; of railway securities, which
the Eari,g failure compelled Europe to hpui1atc
In every branch OF on foreign commerce" tIFrc
is excellent reason FOR the outward movement
Of gold. The uncertainty about the present policy
Of the Treasury tends 10 stimuli ,jc cSportS OF IT,"
precious metal but probably IN" oi'c@IS ol IN"
Treasury would resent any intmation that they
conSprator. AGAINST the country. u r"p"ai
OF the sherman silver law is desired by all friends
of sound iinaucc There Is 10 doubt that III"
President personally is anxious to sccur"
The repeal Of the law. 1t is a
trifo with the currency OF the country even for
the sake of accomplishing result 80 desirable.
To he sure The Secretary of In" Treasury IN ms
published statement denies that ~ mas ES"I
any instruction. = refuse gold for TN" iull legal
tender notes issued in payment for SILVER puI-
lion under the law Of $500. " the same tim" II"
cyadcs clear statement that he may not at some
time adopt thar po icy. TIA" uniitneaS oi any man
to conduct the finances of this country VINO can
for II moment entertain the belief that tW? xmas
cf currency can be maintained az par win 'ach
order lV the Department would instantly any"
the better currency ont of circulation Wiii" thlt
which would hc dscr' lifted would How In'" me
Treasury in the ordinary cours" OF bSil'N-. hpu
and cold notes would leave III" Treasury. Whi''
tie silver notes would h" the only currency r.
crv"d by il. The Treasury ought without iur-
lher DELAY 70 Announce lis determination II treat
all forms of currency e1ua. with god. even II
The la-al tenor reserve should be cnt in two
within thirty days. ,..
t?intt o.out tine action of the Ir"aSnIr th1t
the e,orE market was icycrish and heavy through
OUt the week. There W'i" n'lul raH's, VI
course and on Friday afternoon an att"'lp' 10
protect outstanding contracts by The pear Ia''l"h
caused n spirited reaction. HI" "\lStenc" oi
large short interest has been one of In" sur
Guards OF the mark Il. and probably if that sh"nH
be entirely eliminated tn" dcclIn" would 10 ar,
tolerated. The most Important declines or'h:f'n
in Snccidl and industrial stocks. Manhottn
r,ilway for instance. lost II per cent. GENERAL
Electric = National COrdago AMI Chicago E"s
2 ii Der cent Doubtless the decline in IN" IN
duetrial stocks WIS assisted by the discrimination
exercised by the lenders Of money. lii" railway
share list was comparatively steady. and with one
or two exceptions the declines in them were not
inn ,rtant Missouri Pacific was unusually nc
tive and in spite Of rally Of about pr cont
from is lowest point il suffered los, of II
per cent The oSton~iblc reason was the publi"a-
lion Of St Lcuis story i'm record 10 th" iinanfill
condition Of tie company The oiiicill dennis
vrr,. c,npha,c and explicit. bat for all th1t "a"
downward movement in H." stock was barely
checked Al the Could stccl;s in fact sccincl
TO be pressed for SALE although Gcorg" j. "onld
said distinctly in regard to Missouri Pacific th't
be- had hron adding 70 bis investment in the
stock The supply Of stock was pl"ntiful. ana II
tlcr. was any short interest in Missouri Pa lilo
or the other Gould sharos il experienced no dihi-
entity in securing all that necessary TO it,
purpose.
Following i orr usual table. Giving Ne rnulb'r
Of shares soil Of all stocks. IN" highest, low ~
and tlr final prices of IN" week. together with the
final prices Of "A week ago. prciXcd by the avrras"
prices Of April q. le92: