New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-07
"a there was no ostenslble reason for

.,ara was no ostenslble reason for
I US Saardenng of the market. c,rsn,cuors,v
inc no foreign exchanges "eie Oo,sp 80,
the ,,broughout the week. on one or Two
strong VI onncessiOns in rates were allowed put
days s was strong. generally at Top Offices.
the ma 1',ld not go higher, simply because ~ was
Rates co"' y, ship gold than TO purchase
cheaper mo exports of gold began early in the
drafts - ar the end the movement showed
week, ar ~ relaxing The market closed strong
no sgn and Sass for long and short sterling
Ellis respectively rApNINCs
,rr,h,,ne has printed the gross earnings or
l Inv railroad companies or systems Ior .le
iwen,S' v,eek In April. OF the NUMBER three COM
fourth ,rn Gains Of 81 103. or 0.S per cent. and
psnes .eo Companies losses of s902Sll or 1876
t"ehH, The total number shows loss Oh sosS,-
per cS1 per cent. II has printed also me gross
Cos, OF 80 If sixty-seven companies FOR the third
earnins' ,nri The total number shows loss or
week u or 1O1 per cent as compared with the
zane week last yea''
'~ rnr,b week in April SEQ. D,rsroncss Pc
~; 3; s s|iiII; B:s sS:5 81 81, g
o. co... .s5.Os5 500 s4.is5.59e Dec sSoo'os III
S cogPsnsss.. e,9G245 55i7.ioI Dec 7i'ooo ia
&c G2I. sos s5.o5s.s 1850 Dec sGG3.l55 1o1
THE WEEK IN WALL STREET.
-.oo, market was distinguished last week
the. ST. ~, an active and presumably skliui
simpn1r,aiion Of American sugar Rehhlhg o.9on c
I.ansssctons in it were more IMAM o,6 Gs
the W'. emit the most inveterate gaihDleIS,
enough upward with some steadlness uh'i !!
II Ho, close of business yesterday Wneh II
near - s over per cent in rev minutes
fell aOrW his recession the stock closed "a per
In spnt1 than II did in the previous week,
cen. ne ~ advanced 6is per cent Inc Dasls iOr
WIZ VIZ rocent advance Is the Dehel tn"t Ine IN
the iii receive the utmost consideration irVnl
pany VIZ II Is obvious. of course, that II by
Coheassnce there should be no change IN 'ne
any os re- company Will be able to continue us
srrs profits If an amended Wise" nil 81 tba
iares, rn,sd IL is understood from friends OF the
be auop NAT the margin of protection VIII not
eon lprnatlv lowered. while the changes may hot
p s,o practical effect until next year IL mas
90 into 90 much use to bet on the action on
not pesI ioct If the present Congress, and 1t may
any sN"cy,.ered finally that the recent movement
pe S,gar Refining stock was nothing more una"
cheer speculation ..e,orood mora or
me ~ n't The activity in Sugar Refining. but the
Iess, ,,ii M rket was staCnant without important
gene, The formal abandonment or the pan
Gov the reorganization or me i l, hanT
pS;ng railroad the obstacles when nave peeh
he" 'ntarsd IN the reconstruction or the New
york and New-Engand. the New OK, i.aMe
rTs and Western. and the AtchlSon colhPaiiiea,
"a tho djsgraceful disclosures III iosA.u !"
anu pacific affairs resulted in some weak
~. In these stocks but infused no hle Mllo
~ SPECULATION In the stock market as wen DO
business,
~ ,.aar has been so severe that preseht hoiu-
s % stocks display no anxiety in regard 20
Ss,r Investments. Conditions anecths Runway
u ne certainly are not highly favorable, anu
- nor rest riction Of credit II is possible
W. VIZ 80 other companies will be forced to
- tho nrotection Of the courts. kepors OF
earnings do not improve, although ECONOMICS III
Vorking expenses make the statements Vi ner
orn,,Ss nsarly as good they were. a year
ealA'' T5oso ec1nornies cannot be continued for
a great length Of tirle without serious injury
"a The properties or without charging us Con-
struction sums which should De HCiuueu IN ~
onerating expenses. Fortunately all the primer
nal railroads of the country made large DeOleI-
ments a year ago In preparation for the Chcaso
Fair and I'D TO the present time proDaDly they
have for this very reason been able 10 Opei "Oc
their lines at the minimum expense Inc pear
fac,,on In the stock market has attempted 10
derive comfort from the bad earnings anu tne
moor prospects OF traffic for the next rev
months but the glOoniest reports and funlo,s
have been unable to disodge any considerable
amoa,nt Of long stock and after the market mas
been tested" the principal buyers nave otsi,
those who had previously SOLD what tney ulu
not own. The apparent scarcity OF sto.hs ndS
been indeed one OF the most remarkable features
Of the, market The reason undeniaoiy may De
foundsin the cheapness Of money Many ldIse
holders Of securities will not be pothereu WIN WIN
the Lending Of them when their return Is oh!y
at the rate Of ! per cent year. For TINS reason
the exports of gold, which are increasing ana
may become still more extensive, are not aIIo-
plus Of money In this country which Is needed
In Europe and Of course gold Is the ony lorli
ofiour currency, which Is recognized in tnterna-
ttonal exchange. II It should happen that WITHIN
the next few months shipments should Tsach
such volume that rates for money sfiouu re-
turn to normal figures there wouIu De an I'm, I'M
mediate and prompt return OF the pIeclous
metal. The trade balance is so largely IN FAVOR
of tbIs country that present exports OF spec!e
NAV be regarded with complacency Iney are
In fact hardly more than call loans 10 Europe
The shipments result from Withdrawals OF lot
sign capital hut on a settlement OF currency
and tariff questions the same cap.Ai "ouIu
seek easily the most profitable field Tor perInd,
nent investment The confidence or holders VI
securities remains firm and secure =,
One OF the most interesting ana possibly I'M
portant events OF the week was the dCHoii
taken by the Governing Committee OF tIle SUN
Exchange in regard to arbtrage TRANSACTION
The fooishness of the attempt to restrict pusi-
ness 70 the four walls of the B0aru room 10
indescribab bic According to the Governors me
Stock Exchange IS practically private cIuo
where all errors are cOndoned II they 90 n0e
hurt other members 1t Is nearly tine tnac 'iii ~,
estimate Of the function OF the newborn StoCh
Exchange was corrected. Does the Excnahge
pretend to be a free and open market TOT Sc
curities or is its machinery TO be useu SIMPLY
TO fleece innocent and unwary investors! some
members Of the Governing Committee peloheeu
10 the old Open Board OF Brokers, ana lIUiii nc
experience OF the Exchange with that institution
they ought to have derived wisdom.
Following is the usual table. giving the num-
Der Of shares sold Of all stocks, the highest low
est and final prices Of the week, together win
the final prices Of a week ago. prehxed by the
average prices OF May 6. 1893.
RAILWAY sToCKa
May May no.
a Hfph- : Apr shares