New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-11

! return losses OF S4sS,96l, or 1875 per cent. The
whole shows gain OF S514 Oe0 or 40 per cent. The
Tribune has also printed the gross earnings of
one railroad or systam for the first week In No
vember, which shows gain OF A.76e, or H6
per cent
Fourth week October
t. ss s5sss Dec Dec :s 81
Total IS cos ,.ll.sa', 1o sl2s5i7oi Inc ssl4cao ~
company ~. sssc5 sa73s7 Inc. a7es I.o
THE WEEK IN WALL STREET
With the exception Of day liquidation in
stocks continued again last week and prices
reached a lower level. Declines for most stocks
not rapid large. they suii
cient to cause any uneasiness to large holders
Standard investment shares suffered to some ex-
tent. but the actual values Of these properties
have not decreased, nor are they likely 10 do
so. for their affairs are moving along in highly
satisfactory manner. The loss IN stock value In
The sound investment properties has been largely
confined to the stock Exchange favorltes and
also to those which enjoy an international mar
ket This loss. however. has been one Of insig-
nhcant figures and has only made the stocks
prove more attractive to those who are accumu-
ating them for future profits. well for
permanent investment While the liquidation Of
tho last two weeks has been heavy, Il Is to be
noticed that some support has come from heavy
interests and from those who are confident Of
wait six months year for IL, but they Will
finally be rewarded. Representations are likely
10 miscarry in these uncertain times, but with
regard for the uncertain factors in the situa-
ton. ii seems reasonable to predict an unusually
interesting and rising market IN the course Of
the next year 1t would be plea santer To be able
to chronicle opinions favorng an immediate rise
There is who will hazard such view.
however. at the present. but there are plenty
who see sufficient reasons TO indulge In bull talk
concerning prospects.
The results Of the elections of The week are the
foremost hoIes Of the advocates Of higher prices
ard the believers In better times. BY heavy
majorities throughout the country the financial
and economic theories. policies and practices OF
the present Administration. Of the Popul!sts and
of the silver shouters have received popular
dsapproval The country Is heartily sick OF and
Disguised with the manner in which the finances
Of the Government have been conducted and L
/ is determined to restore to complete power a
party which in times Of peace Is not forced to
call upon foreign bankers for loans to meet cur
rent expenses The financial situation Of the
Government is In a tangle Government financial
emergencies require a remedy which only party
Of experience. capability and intelligence can
administer. and to such party the country has
determined TO trust its interests In the future
The influence of this popular decision as reflected
in Tuesdays elections has yet to be felt IN the
stock market. At present the financial situation
and the strength of foreign exchange stand In
the way Of good news affecting he market es-
pecally when its professional character is con
eidered. but all classes of operators believe that
after the meeting of Congress the market Will
receive the benefit Of the good results Of the fall
elections.
In the week just closed the condition Of the
Nations finances. the strength in the foreign ex-
change market and the serious aspect OF po-
tical affairs abroad have been the leading
factors responsible for declines: for actual trade
conditions do not warrant lower prices. Gold
could be shipped at a profit. and II Is re-
ported that arrangements have been made to
ship some OF the metal this week although the
demand for remittance does not show any great
increase. Commercial bills, however, are ex-
tremey scarce. and the decline In cotton has
apparently caused no increase In the demand
from abroad
The unfortunate condition OF he foreign trade
of this country which proceeds directly from the
Wilson tariff BILL and the lamentable situation
of the National Treasury, also a result or the
Wilson bill. have been aggravated by the ue-
velopments of political nature abroad as well
as by the over-speculation in mining shares in
Paris and London. Under ordinary conditions
war scare abroad would benefit rather than IN
lure our security markets, but confidence has been
violently shaken and Europeans are afraid OF
American markets. This may. and probably Will
pass away when Europe sees the Republican
party in full control Of the Government again
The complications in Turkey. which may lead to
serious trouble between the Powers, were re-
sponsible for break in British consols Frehch
rentes and other Government securities and an
advance in discount rates. Besides this, 1t is ex-
pected that the speculation in mining shares in
Paris will presently call forth several confessions
Of serious insolvency. and II is to be observed that
there is no noticeable let-up In mining share
liquidation The liquidation for foreign account
in the stock market here was not excessive, al
though on Friday 1t reached far-sized proper
tons.
The shortage in the cotton crop. the fact that
the corn crop has not yet begun TO move, and sew
eral minor adverse conditions In the general sit
! nation of trade have caused slight setbacks to
/ activity and Improvement but they have not
been sufficient to cause any material et-up in the
general course OF Industrial prosperity. This is
proved by the returns OF bank clearings whlch
for the month Of October show an increase OF
over % per cent over the corresponding month
last wear and they only little less than the
large total for October. 1892. Railroad earnings
in the South and Southwest have been hurt by the
short cotton CROP but In other parts OF the coun-
fry large gains have been made. especially by the
roads in the spring wheat sections The ST. Paul
company's earnings increased nearly 100000 In
/ October and other Granger roads also report
handsome gains. while the Eastern roads, par
ticularlv the New-York Central and the Penn
sylvania report heavy increases every week
These factors however. had no effect upon stocks
and all the Granger stocks closed lower, as well
as the greater part of the railway list. LousviHe
and Nashville suffered from foreign liquidatton
also ST Paul. The Industrial shares were gen
orally lower as were the leaders In point Of
activity all the week manipulation being freely
indnl9ed in to arrange the pieces to suit the in
siders These Industrial stocks, mostly repre-
senting vicious trusts. continue to cause trouble
in the Street and the trusts managers see trouble
ahead for themselves. they know they will not
enjoy a picnic with the incoming Congress similar
70 that INDUCED in with the last The high stock
values of some of these trust stocks are likely to
have a bad fall from future legislation, and there
is no reason to be bullish upon their outlook
The following table shows the movements OF
the chief active stocks in the week: