New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-07
Total % CO. g.. SO 7s3 s3,s3OOsO Dec. S3i 100
on THE STOCK EXCHANGE.

Opinions were the noteworthy factors in the
stock market problem last week. In the judy
ment Of many the main reason why stocks do
not rise and money lend al higher rates is be-
cause the Federal Treasury IL steadily losing
gold. which is exported put into banks-dis-
couraging movements primarily due to our bad
currency system. This system, it is declared de-
mands immediate reform and since it is unlikely
that the present Congress Will furnish relief. the
financial situation promises $50 the argument
runs 10 become even worse-"while congress
does nothing the countrys feblood ooZes away"
Gold is expected not only to be exported, Out to
be boarded. more bonds to be issued ana the
Nations credit to fall away.
Little importance is attached by persons Of this
mind to actual or imminent improvement
throughout the country
on the other hand IN the judgment Of so he ob-
servers in Wall Street actual Jana imminent
business improvement throughout the country
furnishes ground for cheerfuness. and must
presently be reflected in better prices for stocks
despite bad tariff returns from the Granger
states This it is declared. offsets the condition
Of the Treasury. which was worse last August
than now when the gold balance was bout
S52 900 900 as against ss0,000.0OO yesterday The
Nations revenue might possibly be increasing
and ordinary expenditures are decreasing The
country this counter al gument runs pulled
through the frightful discOuragements last sum-
mer to its present improved position, and,
whether Congress acts or rot vii. keep pull
ing through these comparatively hard times TO
real prosperity Such optimists point also To the
present sound basis of American meicant IL in
terests. and the eXpan~ ion of business in ,!dent
thereto Reference must also be made to the
hope expressed yesterday in some quarters that
Senator Hill and Mr. Cleveland would soon be
working together in behalf of wise financial
measures.
Certainly the financial history Of this country
supports the more cheerful view. Immediate
calamity seems unlikely and the SLOW but sure
Development Of business should presently make
It impossible. Whether Wall street will respond
readily 10 more prosperous conditions is another
matter and largely depends upon the publics
forgetfulness of Incidents relating 10 Atctison.
Northern Pacific. Cordage, Whiskey Trust and
the like. But on the whole. depressing opinion
had the greater effect upon stocks. Du ness
reigned on the Exchange, only interrupted by
spasms Of comparative activity when there was
covering Of short contracts No incident o. en-
cOuragement cheered tn" spirits Of brokers-eVen
Of those who were willing to be cheered. J. the
admitted failure Of the Olcott-Earle plan for
Reading some improved passenger and few
freight traffic returns. better prospects for the
speedy consideration Of the Pooling bill ir the
Senate and the announcement that the wre kers
Of Whiskey Trust were 10 be finally ousted should
be considered within this category, there we're.
10 offset their effect. such disheartening IN
fuences as Unexpectedly large gold exports, -.
Paul earnings for the fourth week IN Decen-
her Rock Islands statement for the month.
melancholy talk from Granger railroad OFF,
Gals and evident liquidation in Central II New
Jersey Nothing very favorable was abstricted
from the bank statement Of Saturday week
ago and Of yesterday. our stock tables ap-
pended faithfully reflect these conditons-weak-
ness and uncertainty in the lndustrals. pres
sion and uneasness I'm the Changers an1 the
general list as well as the conspicuous declines
Of Jersey Central. Missouri Pacific. Readin, ana
Sugar Generally. prices were down. ana total
transactions were $50. $50 shares.
Transactions In Federal bonds responded 70 the
popular belief that new issues must soon 10
made Prices declined. and It is said that bonds
were for sale (and were Sold below the m arket
quotations If any one really wanted 10 buy. In
state issues the recent activity continued in Nlr-
glniaS When city bank stocks were SOLD the
prices were generally below the last preriouS
sales
The railway bond market is described by the
figures in the following table