New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-08
Total CO CO.'S .s5. 7os.4is s02sooas Inc $+0s $50
ON THE STOCK EXCHANGE.


Prices OF stocks were sustained last week. and.
despite the efforts OF operators for decihe .ne
whole list. with few exceptions. including chi
cago Gas, closed higher than week ago.
good part Of the trading was purely pro1es,
sonai. and the interruption OF MONDAY heipeu
to restrict business. but there was fair COM
mission house demand for stocks and an IN
crease In foreign buying Chicago Gas was
forced down two weeks ago by the bears. wnen
the Standard OIL interests in II sold out their
holdings. and this week 1t declined further on
the belief that the dividend Will be passed Inc
directors Of the concern have practically an
nounced that there will be no dividend for she
remainder of this year on account or the lower
prices being received for their product; the To
crease in the cost of manufacture when IL que
to an advance in petroleum. and the need OF
spending all available cash upon the floating
debt and construction requirements The large
interests which went into Chicago Gas severai
months ago expected that the consolidation meas
ure would be passed by the Illinois Legislature,
and that II would give the companies credit
sufficient to finance the entire floating DEBT Inc
defeat of that measure caused change In the
sentiment of the new interests In Cnlcago Gas
and it is possible that the head OF the COM
panies and several directors will soon retire
The affairs OF the American Sugar Reiining
Company call for TO especial comment. While
week ago its stock was being manipulated down.
It Is now being put up again. and 1t closed the
week with net gain Of 5ss per cent. The COM
pany continues to monopoize attention on the
Stock Exchange and to hold back Its financial
blers in stocks continue to sink their money IN
its shares. A pleasant contrast to sugar Henn-
ing and Chicago Gas is Distiing and Cattle
Feeding. the reorganization OF which IS pelns
managed In thoroughly busnesslike and sue
cessfu manner The Greenhut-Morris party
which wrecked the company. and which has en-
deavored TO block It's reorganization. has been
completely routed in its efforts to prevent
judicial sale of the property. and the way Is now
clear for the immediate rehabilitation OF the
company over $1,000 shares Of the company 8
cd In lac
a net advance for the week of 234 per cent. The
rest of the Industrial list was generally strong
and United States Rubber and American To-
bacco both made substantial gains.
The railway list was strong. and the Granger
shares, with the exception Of Northwestern
closed at advances. Reports of bad weather and
moor crops circulated by the wheat spectators
were not sufficient TO bring about declines. al
though in some cases they served the specula-
tors purposes. The outlook for the harvest Is
one of the NEST important factors just now, and
II appears to be about as favorable as predicted
some time ago. The outlook for corn Is excellent.
and the strength In the Granger shares is due
to this. The anthracite coal properties advanced
last week on the general belief that the setlement
of the coal difficulties would be accomplished
at no late date \ meeting Of the sales agents
will be held on Tuesday. and after that meeting
DEVELOPMENTS Of Importance may be looked for.
The reorganization of the Reading Railroad and
a satisfactory anthracite agreement VIII be
incidents which will be closely connected. for II IL
believed that there can be no anthracite settle,
under its present management. There nave
been large blocks of beading stock bought IN
this market. and current reports have pointed 70
Jersey Central interests as the purchasers, ana
the Nanderbilts have aiso been reported to be IN
a Reading deal but this has received emphatic
denial. 1t is understood that some plan Is now
being considered by Mr.. Morgan. and that an
announcement in regard 70 Reading and anthra-
cite coal AFFAIR will soon be made Interest IN
railroad recommendations has been increased by
the action of the Savannah and Western bond
hold mil
Central reorganization. which means speedy
reimbursement OF the Georgia Central system,
and by the developments In Northern Pacihc
affairs. In the last-named company disagree
ment has arisen between the Adams committee
and Mr.. Hin. OF the Great Northern. ana from
all indications 1t looks as II the ADAMS pan
will be abandoned or else materially modified.
The Adams committee has reached the conclu-
sion that the London proposal OF guarantee by
the Great Northern Will clash with the state
laws Of Minnesota. while Mr. Hin has an
nounced for publication that he Is ready To per-
form his part Of the plan, and that II Is not
impracticahe. Mr.. Morgan has kept quiet. and
the opposition 10 the plan which provides Tor
Great Northcrn's getting control OF Northern IA
cihc states that such plan cannot be carried
into effect and that Mr.. Morgan Will not sup
port II.
Railroad earnings and bank cearngs for June
show a large increase over the same month last
year. and reports from all industrial centres
show expansion in all lines OF trade The I'M
proved outlook in iron has had marked erect
upon the shares OF Colorado Fuel and Iron, and
1t scored the largest net gain OF any stock last
week. The Improvement In the iron industry has
made It possible for the company TO place a large
amount of its first mortgage bonds to pay on It's
floating debt and to get needed working capital.
The advance in wages In the last month has af-
fected, according to "Bradstreets, 1,OOO, 900 In
dustrial workers. who have received an advance
averaging about 10 per cent. The prices OF lum-
Der, print cloths and tinplate have advanced. and
the commercial agencies report American tin
plate factories running at the highest pitch to
meet the demand. All lines Of trade are making
progress toward prosperity Slight increases In
customs receipts reported from Washington will
call for heavier remittances from this country to
Europe. and this. with the strength OF the for
egn exchange market. has caused considerable
talk and speculation concerning the probability
Of gold shipments Rates at which business was
actually done In the foreign exchange market
reached the highest point OF the year at the close
Of the week. but bankers we'll posted on the
situation believe that no gold will be exported
al present. The demand for exchange has been
promptly met by the syndicate. which has the
situation well under control. and there are indi-
cations that the demand for remittance to settle
our obligations abroad will be offset by sales Of
American securities in Europe
The following table shows the movements Of
the principal stocks for the week: