New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-25
on THE STOCK EXCHANGE.


Last week was the most encouraging seen on
the Stock Exchange for a long time. There was
not only talk that prices must soon improve. but
prices actually did improve to a reasonably salts
factory degree This movement is responsive to
the slow but real improvement reported from all
parts Of The country. and shown to exist by the
bank clearings and railway reports OF traffic
The gain IS small everywhere. but it Is genuine
Confidence is felt in the outlook by big ins;itu-
tons. conservatlyely managed. which lend money
in the West. We know Of one concern when mas
just lent 81 900 900 In far Western city where II
would not have placed a dollar a few weeks ago
This is a significant indication of a change in
sentiment In regard to the condition or western
business enterprises. Confidence in American In
vestments is increasing abroad. ana prooaoly
Will increase II some new disclosure or ulshohesl
railway management Is not made here within "A
short time. The fact that well-known expert
in the analysis Of railway encouragement starts
this week to examine the accounts or another big
railway company causes shudder wherever u Is
known.
Perhaps the most important incident Of the
week, aside from the actual movements on the
Exchange was the meeting OF the representa-
tves Of me anthracite coal companies The utter
decentralization Of the situation which immedi-
ately concerns them is due TO their disregard OF
agreements: the remedy. therefore, lies In their
own hands. For this reason the meeting was
hailed as a sure indication 0; speedy settle
ment OF differences: yet all that was done on
that occasion was the appointment Of commit
tee to consider" further points on which every
coal company interested has made up its mind.
The argument that. because the bituminOus coal
tonnage troubles In Ohio have been settled. the
Eastern anthracite companies Will see the wis
dom of adjusting their differences. probably has
little weight among the people VINO ought 10 feel
its force Other factors are likely 10 prove more
instrumental in causing harmony than logic
which will be clear ater If the report OF control
OF Reading by the Pennsylvania Company has
any truth in it. The declaration Of the expected
p Of per cent as a quarterly dividend on ROCK
Island caused no movement or interest IN the
Changers. The buying on saturday was Salu 10
be in response to an advance in ST. Paul on or
ders sent in by one OF the managers Of the syndi-
cate.
IL is the fashion in Wall Street now TO see the
hand OF the syndicate in everything, Indeed. the
bearsh element declares that II Is the syndicate
and nothing else which sent the market up last
week Doubtless the syndicate Is a power or
magnitude. but if the managers did step In TO
buy largely last Monday. they deserve credit Tor
knowing q good opportunity when they gee IT,.
Everything proIitious for rise. whether
the syndicate moved or nor. Inc pears declare
that many Of last weeks transactions were
"washed sales" Assertion and proof are TWO
different things. Al any rate. the movements
of the market were highly satisfactory. There
was much more activity. the reactions were
slight and the steadiness, and even buoyancy. OF
stacks NCer. persistent. Stocks well-ngh forgot
ten were traded in. and there was great in
crease i'm the business In those stocks which re-
snond 10 legitimate conditions. Most prominent
was the railway list, led by the international
enaCiaities the CHANGERS and the bitUminous coal
properties Advances occurred all along the
line and weIc not entirely que 10 covering snort
contracts Monday Tuesday and "Wednesday
saw an almost unchecked rise In prices. ana the
reaction uredicted for Thursday and Frlday was
not conspicuous ON Saturday the rise again
was marked ~ well as the activity All through
the week there was investment buying TO large
amount The bituminous coal car rlefs were ad-
mred for gains based upon the formal accept
anc. Of the agreement arrived at last week by
representatives Of the companies Inc improve
ment in Southern railways was naturally iald al
the door az the syndicate but better market Tor
cotton is a more reasonab bic explanation. Move
nents I'm the anthra cite stocks were less natural
and the interests behind Jersey Central are 100
powerful II let one think that that STOCK IL leit
alone 10 meet whatever may happen. The inter
national stocks were better al nome because
they are better abroad. In the Industrial group
there was more trading than elsewhere Dut IL
was entirely speculative, ana Dased on ruHlor
or alleged confidential Information. Inc shoi,
were driven t. cover largely now and then, az IN
Distilling and Cattle Feeding. purchases 10 Cd
tain stock TO deposit with the reorgahlZatloiN
committee Of this property helped us advance
Hut a mart OF the better price Tor ~ IL que 10 an
actual increase in the value Of its shares. when
NAV nronerly be attributed TO its outlook from
business point Of view. SO mucA cannot De saiu
for General Electric, which was good second III
point Of activity As gamble II appears 10 De
attractive whether the tale Is OF continuation
with the Westinghouse people or Oh ihcIeaseu
business II the increased business rufhor Is
correct. then the electrical Industry OF the couH
try began to show improvement carrier thaH any
other branch Sugar was rather gentiy nah 1p
lated. Lead and Leather were also better me
following condensed table shows IN Drlel ,ne
most conspicuous stock movements OF the week
c..