New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-13
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TIE WEEK IN WALL STREET.
Transactions in stocks last week were a little
larger than in the preceding week but they
barely exceeded 500 600 shares, and the great
bulk OF this business was supplied by fifteen
stocks The market was irregular, moving up
anu ooWh itiully: and final changes consequently
were divided. American Sugar Refining was
less conspicuous in the trading and fluctuations
III II were unusualiy narrow. 1t closed about
per cent higher than 1t did week ago Among
specialtles there were advances Of from IL in
Richmond Terminal and General Electric 10
per cent in Western Union Telegraph and 3ia
per cent in National Lead. Louisville and Nash
vile. on moderate transactions, rose easily on
buying. apparently for the short account and it
scored net advance Of 27s per cent The most
important declines occurred In the Granger
stocks and while they were partly the result of
hcarish attacks evidences were not wanting Of a
moderate NluldatiJn They closed depressed on
the publication of the Government crop report
for July. which was most unfavorable ex-
hibit. 1t Is well known that far IN the present
month serious injury has been suffered. so that
the figures of the Government report, bad as
they are undoubtedly do not overstate the ser-
Gus damage. a less of 5O.OOO.OOO bushels OF corn
is a serious calamity. which will be far-reaching
in its effects. 1t will enhance the cost Of Nv
ing. while Ii may prevent the maintenance OF
dividends Of some Of the Western railroads. Chi
cago. Burlington and Quincy is the largest corn
carrying system. and the loss Ct so large a por-
ton OF the crop must have grave importance
to that company. The stock did not close at It's
lowest point but IL still lost Ill the week l9s per
cent
The developments in regard to the Atchison
Railroad will exercise also an important infu-
ence on all railway securities. They We're OF
such a character that they cannot stimulate
European confidence in American railways which
already had begun to waver 1t Is doubuul
the directors of the company would not nave
done better to have dismissed the pres'ueht
rather than to have permitted his resignation.
The moral effect abroad which this summary ac-
ton might have caused would have relieved
slightly the disgrace which his conuuct mas
brought upon all American railroads. mat ne
should wholly escape punishment seems 10 pe
impossible but if he should do so the aiSsrdCe
will even be deeper than 1t now Is. What Is
peculiarly distressing in the whole affair is me ,
reasonable suspicion which has been aroused
that some other railroad companies may hdNc
been following the Reinhart method Oh poohheeP-
ing. . =, ~ 90, sro
ciallv Influenced by the discussion In Congress
Of tariff measures. On one or TWO ocVaSioi'
nrices rallied slightly when 1t seemed propaple
that an agreement between the two houses OF
congress would be accomplished. 80 lar "a,
Wall Stree, is concerned, il apparently wouId
make ilue difference whether an agreement on
new bill was reached or the present law shoulu
be allowed TO remain. What Is especldlS w.
s;rod is that some decision should be MADE AZ
@nce and the present disgracefu session of Con-
gross brought 80 a close In view OF an the
ENVIRONMENTS the market displayed STUBBORN
strength which proved once more thal 'he ~
holders OF securities have not ye' pe0o'o
alarmed. ,, ,t,. ,bo num-
har If shares sold Of all stocks. the highest low
oct and final prices Of the week i"se'n', Wv"
the final prices Of week ago pte"Neu ~ Wv
average prices of August 2 1879
THE WEEKLY RANGE.