New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-28

THE WEEK IN WALL STREET.

Speculation in stocks last week was extremely
quiet. ST. Paul again the only stock in which
the business amounted to over 100000 shares.
The principal activity was in industrial stocks, or
in specaties that do not enjoy broad market.
The movement of prices upward but languid.
Room-traders and small Spectators seemed TO have
complete control, and there was little buying
either for European or investment accounts. HE
market remained. indeed, waiting one, but the
general sentiment was more confident as IL became
palmer that enforced liquidation had been com
pleted In the early part OF the week spccula'
ton was checked by the danger OF serious
embarrassment of Stock Exchange iirm, win
total liabilities exceeding 81 100000. The dis
astcr was avcrted. fortunately, but simply be-
cause the character of the collateral security at
tached to loans. was such that it could not be
sacrifice The creditors OF the house came 10
the wise conclusion not to press their claims.
of the firm is inevitable In the Barring panic
the Bank of England thought IL necessary TO
take on the spcculations in south American So
curties. There has been since that time a con
slant recurrence of this policy 1t was absolutely
neccssary that the Bank of England should guar
antee the commercial credits OF the Earrings: 1t
ures II would have been better. in other words.
i the south American stocks held by Barins
market for what they We're worth Tho action
of the bank. which has been followed constantly
ever since. has piled up an amount of unm1rkctt-
1t makes very little difference whether the Sc
curities street railroad bonds in Argentina or
municipal bonds in Ncw-England. The policy is
wrong i'll every respect and il may have dis
astrOus consequences. There is no parallel BE-
tween it and the action of the associated banks
in New York which. BY the issue of loen ccrtili-
Gates. have decided 70 stand or fall together.
There excellent reasons for the better
feeling which pcrvaded the market The delay in
tho repeal CT tire purchase claus" Of I'll" present
silver law is borne it'll great patience. buy there
il - growing belief that the end. devohtv wished.
is near at hand. The discussion in Congress has
not probably changed a single vote. and pr sumably
It was meant only for the gallery. vot" in the
lower House will h" taken this week. and ia"
force of public opinion will be demonstrated by the
majority in favor Of repeal II is 10 DE rIsir','l
that the same programme must be followed in the
Senate and that members OF that branch OF Ton
crees must explain I their constituents at gr"ht
length and no little stupidity thor positions on the
silver QUESTION Senator Goiman VINO j. supposed
TO have charge OF the LEGISLATION in the NIat".
expresses the opinion that the repeal biIl VIII 70
pas.pl in the course 81 three weeks. lin" VIII ID"
wasted. and vote should he 'afcn lnmedla,"y.
with leave (, print granted 70 all IL" m"mhcrs
who wish 10 make explanations. The m"r"anth"
community is hardly able 10 ndoTs' ~" postpone
mcnt for long time Of III" act winch II De-
ievos viii relieve il Of its pr sent Difficulties
The market has derived n,nch "ncomra@"m'n'
from the imports Of gold from Enrop" hey nave
been large ~ 10 supply rurrhcN I''hrh,nrr~ q,
many points. and lin, most favorable i"atur" "i
the bank statement yesterday wa IA" lli,i,"S' ~
lcral-tcndcr notes. II l. proved INA WHO ,"lu
was gcing 10 the country lgal-.rnd'r noi"- wllIr
are greatly desired at this point aIc b"ne rc'eiv'
The increase in bauknotc CIRCULATION also ~ my,
ing its effect and il is likely 70 increase ~
further in the noNt few weeks. ~" market did
MOI clnse strong but there was good reason FOR III"
,upalnnt weakness in TN" fact that speculation ~
prTcut is entirely local and professional. MI con
litions were favorable to a further aINah'" IN
rrc.. hut fine fulfmont q anticipailons IN regard
10 me- bank statement simply signal Tor
realizing sales ~ .,,.,,
Following is the usual table. Qivinc the number
of .h,r,s Old OF all stocks IN" highest. lowest
and ,hc final prices Of IN" week. together WIN
fine final prices of week ago. prchNrd hy the
avcra.. prices Of August - 1892:
TIE WEEKLY RANGE.