New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-08-21
Total 81 cos. So SAG s575o,225 Dec ss5sG2l -!
TIE WEEK IN WALL STREET

II companies 99,31O ~ 4J.31' Inc HlbOOOl l25
Total 81 cos s. COS SAG s. 80 225 Dee ss5s o2l 1873
TIE WEEK IN WALL STREET.
Stock Exchange markets extremely dull,
without other feature last week. Inc total trans
actions were barely more than '1o,OOO shares,
against 90 700 shares III the preceding week,
ANA l,Oss,O0U shares III the corresponding week
last year. II. Iaul the only stock Ill which
the transactions exceeded 100000 shares, ami
there only four stocks i'll which the trans
actions exceeded 10000 shares. Nearly onc-hall
Of the total business however, was contributed
by these four stocks. hey were, III order, 81
Paul, General Electric, Chicago Gas and Western
Union Telegraph After many fluctuations IT;
PAUL ended with loss of "a per cent. GENERAL
) "a per cent lower, while Western Union sus-
tanned only a fractional loss. The dulnrss Of
speculation was esteemed PLAIN Indication that,
Tor the present at least, forced liquidation was
at an end. The market was so narrow. and the
apparent scarcity of stocks great, that III"
bear faction deSiSed from energetic attacks. but
the downward course OF prices proved with equal
certainty utter absence OF buying power.
In consequence of the extreme apathy on both
sides. the market was at a complete standstlll.
/ Prices moved up and down. according 10 tile
whims of boardr traders or small spectators.
who are frequently disturbed by developments oil
the least Importance In fact, the market pad no
attention to news of any character, and IT seemed
to be waiting solely for the determination by
Congress of financial questions. 1t may or
doubted whether the popular theory that forced
liquidation has ceased il entirely correct. 10
far as merely stocks concerned. I'll" theory
may be a just one. but there are others in which
the declines have been small. although there Is
no reason why the stocks showed exceptions 70
the general tendency. The selling of railway
bonds in the last week. while il has not been
large. certainly has h"cn significant. Some OF
the soundest securities dealt in at the Stock
Exchange have been quietly pressed for sale
Just rs fast as the market would absorb them.
This proves better than the stock market. and
still better than tile ease Of call money, tue
necessities TO which some holders have been
NJ. ha.-o a hno.
the holders lacked confidence in the security.
nor because they were not satisfied with the
return on the investment. but simply because
they needed money, and had no other means OF
obtaining il. 4 part of the selling was for Eu-
ropcan account, but the most of il by home
investors.
Brighter prospects Of an immediate repeal Of
the present Silver law have not revived cont
dence to the extent that boarded money has been
returned to .icnlaton.. The latest bank state
mcnt, compared with that at the same tim" a
wear ago, shows a decrease in loans Of over - p
100000 but the slirn.agc of deposits in the
same time has been Sl5i.1o9,700. In other
words. the city banks have lost in deposits over
S6S,j00.000 more than the decrease In loans.
OF the loss in cash Of about S63,0OO,O0O S35,
81 0,G0O has been in legal-tendcr notes. Festl-
mOny in the same direction has been afforded by
the recent imports of gold from Europe In the
last two weeks III" net imports Of gold have
been $24,457,6 $40 and yet the associated banks
to show gain in specie of little over $1,000.
600. II is known that considerable amount or
hut il is improbable that this movement has been
so large a. this difference would seem 10 Indicate
For these importations of gGld tbs country is
merchandise are gradually falling off and IN"
exports increasing, there IT, nothing in the balance
Of trade between the United States and Europe
10 vibrant expectations of large inflow or
gold. We paying n larg" price, not only IN
the premium. which alone enables 1mpor'a'ions
staple pronucts, with which finally shall have
10 pay for the metal. In one sense the RECEIPTS
of gold are call loan. made 10 MS by Europe IN
anticipation Of the movement Of IN" crops II -
q great satisfaction. however, that can obtain
the gold at any price The amount already re-
ccivcd must have filled vacsums in our currency,
and il il to be hoped that future arrivals VIII
have much greater effect upon the rates Tor
money and the prices Of our agricultural products
In the multitude Of cOunsellors there - wisdom;
After consulting with prominent moh IN VIII,
Street Mr. Simon Stevens suggests that upon
the repeal of the purchasing clause OF the Nher-
man act silver bullion produced from the mines
of the United States may I've deposited by the
owners with the Secretary of the Treasury, VINO
shall deliver therefor storage receipts on Il pr
ity basis Of 10 10 !, or III" Secretary OF ,he
Treasury may purchase sdcl bulhot and pay Tor
il in standard silver dollars. The storage re-
ccipts he urges. if issued, would immediately be-
come articles OF traffic, merchandise or exchange
with individual bullion dealers, instead OF ti'r
/ United States Government, 70 thc oN,ril, Vi
many hundreds of millions OF dollars annually.
Dick Brothers n Lawrence; OF New-iofN ali
pbiladcphia announce that they are buyers ana
sellers Of PHILADELPHIA exchange and all CLASSES
Of PHILADELPHIA securities dealt IN on tn' en-
chnugcs of both cities -,
The most important event OF the week was 'ie
acknowledgment Of bankruptcy by the northern
Pacific Railroad. In spite of "nncquiV9cal ana
cmrIlatic" dcniaIs made by its officers only few
hours before that company was placed III the
hands of receivers Tuesday. The previous de
cline in The stocks had prepared the speculative
public for the event. but the bonds oi u" G"n,I
many both speculative and Investment dcclh'H
with = rapiditv which proved that, TO the bond
holders. the bankruptcy was unexpected III"
+ recommendations about the coidltloh Ol 'h'
last moment. were disgraccfnl 10 the inanageIncnt
They evidently were intended TO deceive" ana me
only reasonable purpose for them was To chape
sales of tle stocks and bonds. he era Tor sl"cu-
lative railroad management IL paSsel 40 prs
don't or director Of IA company in snch circnin-
stonces should be appointed "A receiver, ana inc
/ courts should be appealed 10 Tor tlc pro'ortioh
or innocent holders Of the companies Sr,ul'hS'
II was hoped that the career OF freslucnt MciF1n,
/ of the Philadelphia and Reading haiiroah Mho
/ IecIarad interest on the income bonds OF That
/ companv within three weeks beior" IL was phc'u
! in tLc hands of the Court, would DC SUFFICIENT
/ warning 10 officers Of other companies
In general the market was waiting one.
Tho weekly bank statement was accepted IA Il
+ fovo,abc showing and immcdi lately after ms pup
/ licaton prices rallied in sluggis! ana uS,lss
way The closing WAS not hacking IN confluence,
however and az all the leading stocks coinmahu"l
virtual premium for use, Il hop'iui ''V""s p''
vailed. ,, .. ., ru,hor
! Of shares sold Of all stocks, the highest, iowrs'
and thc final prices OF the week, tOsc'n'i Wy"
tbe final prices of a week ago prcIiXcd py inc
average prices of August 20, 1892:
! TIE WI,KLY RANGE.
RAILWAY STOCKS.
ACTUAL SALES
!
D 90 Iov Final, Aug shar's