New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-14
TIE WEEK N WALL STREET

TO'al GO co.. 40 2s9 os9 - 59l 80 .Gs5 j&j -
TIE WEEK N WALL STREET.
The stock market last week evidently was III
a waiting mood The total tran actions harei;
amount considerably more than one-llalf was
furnished by five stocks. Congress met in sp"clai
session on Monday, but by Il mere iormalty III
the Senate the President message was not trans
mitted until the following day. The rcconinenia-
tions made in this document were what had been
expected, and they urged strongly an early r:peu
of the purchasing clause of the present SILVER
law. strangely enough, prices OF stocks Logan ~
sink Immediately after the synopsis oi the mes
sage had been published. No better proof J.,
needed that the movements in the market; were
controlled by room traders and small sl"cula'9f'.
The larger interests on both sides OF the market
seemed unwilling 10 take an active part uhtil
some evidence Of the final action by congress
were furnished The impotence of the people
for a prompt repeal of the compulsory puf'ha@
Of silver bullion has become 50 great that the
end of the first week of the session without ma
terial progress toward the desired end caused no
little disappointment. II was not cNPect'l' OF
course that the repeal measure would be rushed
through even the lower House. but II j. PLAIN
that Congress has displayed not even rrasoi'ap"
haste To be sure progralninc mas Pin o an
after a discussion lasting two weeks, ana per
haps this is all that could have been desired bNt
the friends of silver have dispiaycu an nnN-
IDENTIFY alert. On the other side there Is an APP
parent lack of leadership, and already talk oi
compromise measures has been heard There mny
possibly be two sides to this question, but me
evil from which the country is at present SUI
fcring have been due in large part, 10 the pre- rnt
silver law. If repeal cannon pe carried II M ';
be better that there should he no COMPROMISE
and that the country should be reduced az once
10 the free coinage OF silver. certainty Is pref
cradle to doubt. ;, -
extremely irregular and giraffe. On good news
prices apt 10 decline. ana on 'Vn r'~iaS
they frequently advanced. The continued I'M
portation of gold on Il large scale was hopeful
influence because il indicated an immediate ana
positive relief of the motley market me ad-
vance in the Bank of England rate OF discount
sh0uld have operated in the other direction. be-
cause it proved the intention of that institution
10 oppose an extensive outflow oil 'ne pi'rio"S
metal Further small engagements have p"l
made in London since ia" advance IN the "ink
rate. but sharp rise IN the open market l n''
for money presag"s luf'hrr advance III III" p'i I
rate this week. Without the premium Oh @o'"'
which, prevailed for several days III consequence
of the scarcity of all kinds Of currency, imports
of gold at the present iatr OF eAchangr are ,n.-
probable In this respect the scarcity Oh cur
rency WAS not an unmINed evil. for II showed
that We could get til" gold if We were Willn-
10 pay the price demanded ne ac,ual llipo i,i
in the week amounted 10 sl3.:l l."ll. ana. VII"
exports of SG,0?2. the net receipts anlouh'"l -
Sl3eOs,ss9. OF this amount So, 80 was IN
American gold con. and ought at one, on 81;
rival 10 have gone into circulation Nl'rr II
has gone. il is impossible 10 say \ pait mas
been secured by savings banks and another
share has been bough, for interior ri''r', ~
cured very little of il. In the la.t week they
have been Obliged to issue 81 .sGj 600 loan c"itiIi
Gates. while they hav" been unahir TO chic
any The total issue oil these certificates amounts
now to S3..0l50o0. The titne - raphN ,'P-
rroachng ard. in fact. i close ~ hahd Wi"h
money will De- required naturally for I'll" ont
ward movement of the crops. If IL" imports ~
gold should be- checked by any cause. the mean
for moving the crops could BE- fnrn>he 0hil
through additional and heavy omission .,
these certificates. NJ III" salnr tline IN" aloui,
,Ln history If tLe ns,ociatcd banks Other
! IL. 1.s
publication Of the Government crop report "hi'h
extremely unfavord,ie. and IN. III" Actioh
Of prices the appearance" Of cAph'ia ~ nus
port and yellow fc'r 4 the south. J." be
sure Of the Southern stocks YIELDED on
the first announcement Of yellow fever ~ f"li-
sacoa but Louisville ard Nashville suffered only
= small loss. Nashville. Chattanooga AMI -.
1.onis fell more abruptly. but the trans '"ii"n-
decline possessed little significance. TIE granger
shares were scarcely affected by the unhappy
report in roQ'ill 4" the crops.
OF che five Leading stocks four w"lr industrial
shares. Sugar Refining huct"a'cd ireGulHrN
within range Of per cont. but - final los
was little over per cent 'hl"aeo Gas frcold"'l
gain in VII" week Of Il per cent ana
nistlinq "nd Cat;l" Feeding. w'h slieht Varia
flows ended virtually without change. G"'"i.I
Electric declined over II per cent from - hiel'-
point bat. rHllvir2 occasionally WITH >oi9r
shirt. sufcrcl final los Of : 80 pr cent. ~
th. respect il Was 'l' FOREMOST stock IN the
list Ordinarily H." declines w"r" not larg".
Toward the close Of tie week the Northern Pacific
stocks afo"tel hy revival 0f III" minors
that recciv"l.h'n was 'm'n,n""t. hn' they w ,
promptly denied hv officers Of the coIppnnv The
closing extremely dull, bat inclined 70
weakness.
Foliowinc * onr rsu,I table oivi"r the runber
Of shares sold of all stocks. ia" higlr-t. lown-f
aud the fral prices Of ia" week. together with
tho Anal prices of = week ago. rrei>cd by the
average prices Of ,ngust -. 1892:
WEEKLY RANGE