New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-10
,taI CT CO.'S S. COZ LOG s. COS >al Inc. sio3 10 A.
on THE STOCK EXCHANGE.

The stock market appears to have cut loose
from the influences which are supposed TO adj
vance prices. The general condition OF the coun-
try is better and 1t is improving every week.
Returns Of favorable railway earnings and in
creases in the country's bank clearings denote
continued expansion in business. and should. ac-
cording t. the logic OF Wall Street result in CIV
ing big boom to stock values but the influence
of such conditions has had little or no effect upon
current trading. Fortunately the level Of prices
has not been lowered to any apprecable extent
and throughout the week strong undertone ex-
listed. The market is in the hands of professional
traders at present. and from all indications vii!
remain SO for some time to come. Duncss In
stocks is not unnatural al this season OF the
wear After the warm weather has gone. when
heavy buyers Of iO'ks have returned 70 town,
and when the public more fully realizes the Er'h'
improvement in general trade conditions through
out the country there VIII again be ruoyant ana
advancing stock market The absence - i"rf.-H
support in the market has helped T. restrict
trading. and the unCer anty ABOUT the crop sltua-
ton. which Is more pronounced IN Wal street
than in any other place. has Increased the STAG
nation in stock Exchange iransa tons.
The railroads reporting earnings last week
showed satisfactory gains Over the correspon l'nS
period lasi year and the bank c.'arings through
out the country were over - per cent larger tAdn
in the same time in 1894. The great Iron Industry
has DEVELOPED marked improvement. ana this was
reflected in the week by comparatively large
purchases Of the stock - the Minnesota iron
Company and advance OF ~ pct cent IN the
shares Reports from the iron centres snow a
big increase in the output Of finished pr ducts
and a corresponding increase IN prices. As FAR
as the general crop situation IS concerned iheT"
is nothing IN IL which sh I'LL BRING ds.oura-0-
ment and the people who are circulating nah
reports about the wheat ana corn belt are N So
who are trying 10 boom the products on IN"
Produce Exchanges According u the ID 81
trustworthy reports winter wheat has suffered :,
some extent while the outlook for spring wheat
continues good. The officers in TINS city - many
Western railroads have been taking especial
pains to get accurate crop news along the routes
Of their roads, and in nearly every Instance ih'y
have received most encouraging rcpl'ts
The reduction IF the dividend on tn common
stock # the Chicago ana Northwestern wa the
chief incident Of the week as factor on %"
Stock Exchange While the action was Wise ana
in the best interests Of the property J. Va it-"n
ADVANTAGE Of t. depress NE stock 81 Northwest
orn and OF the other Granger shares but us
effect not great and declines suncT"d ~
this account were recovered at the close Z Inc
week The MANAGEMENT ~ the company - con
sentative and those who were familiar with ,ne
earnings Of the road were not surprised NJ ~,
lower dividend. The last semi-annual dlNidr"i
on the stock was reduced to pig per cent. So that
the company is now on a per cent bass In
comparison with the earnings Of the other West
ern roads in the last year. which has been most
disastrous to railway returns, an earned per
cent dividend is gratifying and better than hai
been expected The failure Of the United states
COrdage Company had no erect upon the market
except on the various Cordage securities. and the
appointment Of receivers was no surprise ~ the
Street The condition % tho concern nad .ons
been known. and the plan on which the Ola Na-
tional Cordage Company was reorganized Int" ne
United States Cordage Company was never con
s!dered powerful enough to prevent subsequent
failure The present plan II reorganization d'es
not meet the ideas Of some Of the stockh"iders
but the chances are that II Will be carried through
without serious objection. Various reports nave
come out in the week concerning the condition 81
the New York, Susquehanna and western Ran
road and these were accompanied by decl'hc
I'm the stock The management OF the road has
denied that II could not meet Its OBLIGATIONS ana
has characterized the rumors as stock -)ppblNS
appointment was felt over the r"iusa! ~ IN" IL
rec,ors TO make an explicit statement ~ Inc CON-
panys financial condition.
The condition Of the foreign eXchange market
has created apprehension in the minds 81 som,
people regarding a possible resumption 81 goa
EXPORTS but those who familiar with the
situation are not inclined t. believe thar any 81
the precious metal Will leave the country Just
nov The rates for foreign exchange advanced
all the week and are within few points 81 the
gold shipping point. 1t should be remcmDercd'
however that the bond syndicate is siill IN con-
troll Of the market and that 1t has no desire .I
interest in keeping the market lover than "1lhih
n close margin from the exporting point Inc
strength Of sterling exchange oid no, nave any
particular effect upon the stock market ana no
daclines were responsible 10 II. The principal net
advances Of the week were In Chicago quincy
and Burlington. ST Paul. General Electric Ten
nessce Coal api Iron. Consolidated Gas, MIME
aota IRON Edison Electric, Southern Paclhc ana
United States Rubber preferred. The chlei de-
Zines were In American Tobacco. Lake Enc ana
western Mobile and Ohio. jersey Central New
England Susquehanna and Western. Iteadllg
cordape and United States Rubber common Inc
following table shows how the active STOCKS
nuctuated;