New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-12

II companies, Z,uS'.'os lSoioo" p'V ''"'"'' 80
Total ca COS. g .ssSo77.o ssoasoss Inc. sse5.a's g.:
ss 81: ses T:s Dec SIZE 1919 4:
Total eos se7i.aI4 5000 ao7 Dec n.sT7 o.s
ON THE STOCK EXCHANGE.
Trading In stocks last week developed no in
terest!ng features. Midsummer duness was at
It's best. and the end Of the week was welcomed
with gladness by every person In the speculative
and banking community. The market was
purely professional. consisting chiefly In the
operations of surface Spectators who tried In
vain to arouse some enthusiasm among the few
who have remained in town To watch Stock En-
change transactions There was no conspicuous
change in prices either way. and the leading
stocks maintained their values and appeared to
be In position where they were only waiting
for some strong hand to take hold OF them 10
make them advance. 1t was market when
caused no surprise or uneasiness and fully car
ried out the predictions made In the early sum-
mer to the effect that until the vacation season
had come to an end there would be no rnaterial
change In prices. At the end or the vacation
season. which is now approaching. the result OF
the harvest will be settled and change VIII De
made In the condition OF the foreign exchange
market. With these two important factors de-
veloped there will be every reason Tor an I'M
mediate and satisfactory movement In sNare
values. The general railway list was neglected
were bought and sold &c so ne extent Tor shaA
profits Pending the outcome of the anthracite
coal troubles there was no activity IN tne coal
ers. AS far as could be learned. no EFFORTS were
made to put the anthracite coal trade on bet-
ter basis. The leading officers Of the coal pro-
ducing and carrying companies are OUT OF Town
the big banking interests supposed to De inter-
ested in the coal difficulties are not taking the
public into their confidence. and the only notice
able movement now going on for reacJus'neh,
of the trade is being developed by the indlvldua
operators Even this appears 10 be in It's In
fancy but there are some well defined rumors on
the Street that the individual operators VIII iorce
the big companies to do something before long
The Industrial shares. principally Sugar tenn
ing Chicago Gas and United States Leather
huctuated according TO the manipulation OF those
in control. and there was no news or even runlors
about the industrial companies OF sufncient IN
terest to cause any particular attention TO De
given to the stocks. Manhattan Elevated de-
veoped some activity at the close OF the week
presumably mere speculation. although Russeil
Sage made the wise announcement that the
stock advanced purely on its merits
More attention paid TO the stocks OF cleo
trio companies. both in this market and In Dos
ton during the week, on account OF the announce
ment of the arrangement between the Westing-
house Electric Company and the Baldwin Loco
motive Works to manufacture electric locomo-
tives. Such arrangement brings more Closely
to mind the great future TO- electrical develop
ment setting people TO thinking that steam
must some day be superseded by electricity. ana
that the big electric companies arc beginning 10
get ready for the great advance wnich is pounu
lures commerce and almost every other held OF
usefulness Besides the arrangement between
the Westinghouse Company and the BALDWIN
Locomotive Works, there have been reports or
renewed negotiations between General Electro
and Westinghouse for pooling agreement TOT
their mutual protection. similar 70 tnat proposeu
some time ago. 1t may be a loIg time before the
two companies get together. but there are many
men connected with both concerns who would
Ike TO see such an arrangement MADE renera a!
Electric stock was bid up Oh the theory that II
the Westinghouse Company saw Its way clear 10
manufacture electric locomotives, the heherh
Electric Company would not be LETT pehlno, Dun
would keep pace with It's rival In progressive
moss and enterprise. The condition or the crops
was even more encouraging last week than had
been expected and the monthly figures conpliea
nv the Government, showing the acreage ana
average condition Of wheat, corn and cotton
were such to cause no DISAPPOINTMENT over
the outlook for the harvest General industrial
conditions throughout the country continue 10
show Improvement and reports from all centres
are encourag ing. Despite the fact That TINS Is
the dull season in trade there appears 10 De no
creasing activity and THE Iron Age for last
week remarked that the conviction was gaming
ground throughout the iron trade tnat the pres
ont high level Of prices was not merely going 10
he maintained. but that even better hgures were
certain to rule. Railroad earnings ana oank
clearings show improvement ana TOT .ne n1on. nun
Of July there an increase of about 10 per
cart in gross earnings covering over 900 miles
Of road. ., .. +, 1,-u
street at present Is the foreign exchange market
The end Of the week gave indications that the crl-
sis had been reached. and unless inteligent Cd
servers Of the situation are greatly mistaken. the
rates for sterling exchange VIII soon beSin 10
fall In the early part OF the week II was conn
IDENTIFY asserted by LEADING foreign exchange
houses that gold exports on SATURDAY would
amount 10 at least 81 900 000 but sum considera-
hlv less than 100000 went out. There was an
easier feeling among foreign exchange bankers.
and although rates were held at top flgures, there
wore Indications Of a better supply OF DIS, whcn
NAV be considerably augmented this week by
bankers bills and cotton and grain futures In
view OF the increasing deficit In the Govern
ment's expense account. continued exports OF goid
wight well lead TO alarm and force liquidations in
the stock market. and the shipment or over 81
900 900 gold on Thursday, with predictions Tor
more than that amount on SATURDAY. were looked
unon somewhat askance The Government re-
ceipts so far this month have falen nearly soooo-
600 under expenditures and the DAILY statements
ceipts exceeding expenditures for some time to
come except by the method now In vogue with
the Administration Of holding back payments AT
the end OF the month IN order ,nan1 toI,nr
revenue. continued gold exports are app 10 De.
come alarming Fortunately. however. the ehd OF
the outward movement of gold seems 10 De N
sight and well-nformed observers mink that
future shipments will be too insignificant 10 nave
any effect upon the Treasury or sentiment. More
over, the bond syndicate has treasured the pupiic
again that II will not allow drain upon the
Trcasury's gold reserve. and II Is only 10 be re-
GREETED that the syndicate's operations cannot
help the Governments revenue to exceed lis ex-
penditures. 1t was unofficially announced on Fri
day that the syndicate would turn over s2.0OO.oOo
gold to the Treasury in return for legal-tenders,
making good the amount Of gold recently with
drawn. That the syndicate IL well satisfied with
the situation was made evident yesterday when
it returned to the members 34.4946 per cent OF the
capital contributed for the operations OF the syn
dictate. OF this amount 30 per cent was on prin-
cpal account and 1896 per cent on account OF the
premium paid by the syndicate for the bonds.
Forty per cent had already been paid, thus leav-
Ing y.rrp Gfil dina he 1harS
ment II seems would indicate that the syndicate
Is winding I'D its official existence. The move