New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-02

q. 'e emu OF the week did not warrant the gold
Exports MADE. Shipments of specie were consid-
erapiy under those Of the previous week and the
movement OF the metal abroad did not provoke
any uneasiness because the public has conf
dence In the ability of the present Congress to
devise ways and means to make receipts equal
expenditures sufficient revenue bill will be the
pest remedy for gold exports. That the new
congress Will do something to increase the Ma
tonal revenues seem certain, and Mr.. Reed in
accepting the nomination for Speaker said:
That we shall be ready at all times 10 furnish
adequate revenue for the Government according
to our sense of public duty. man can doubt"
The view Is beginning to obtain in the Street
mat the incoming Congress. which is made up
OF men who are competent and willing. viii
legislate in way which will inspire confidence
and promote the welfare and interests of the
country. The Improvement In prices last week
may be said to be due to this.
The position OF affairs abroad, which Is 50
keenly watched over here. is somewhat improved,
ana IL is encouraging to note that progress mas
been made IN mining liquidation without any
acknowledgements of Important insolve ncies.
The fortnightly settlement which began on Mon
day passed off more smoothly than had been
expected, although II is generally understood
according TO cable advices. that many members
Of the London Stock Exchange had To be helped
Liquidation in London and Paris viii probably
be continued for some time 10 come. but the ais
position Of large banking interests appears TO
be to give help to operators who need only time.
The return this week of American securities
any injury TO values here, and the fine condition
of the properties which these securities repre-
makes II possible Tor an absorption or lntln
by local operators without any worry when
otherwise might occur on foreign selling.
The effort OF the gold mining spectators Of
Denver TO secure foothold in Wall Street is not
meeting with the success which the projectors
of the temptations would wish. The allurIng
stories OF the wealth Of the Cripple Creek and
other districts and of the fortunes which are
being made on the mining exchanges In the
West have failed 10 excite any enthusiasm here
yet but. Of course a mining boom may gain
foothold in Wall Street For the present. how
he. q
In the week there was some activity In mining
shares in the unlisted department Of the Stock
Exchange and upon the Consolidated Exchange.
In comparison with TIE stagnation which has
prevailed in mining shares the small dealings n
the last week might be called activity. but TO
the operators who were engaged In mining specu-
latiOn in the exciting times between 1871 and
1881 the present operations are passed by WIN
out notice The bulk II the dealings was in
Phoenix Of Arizona. Enterprise. American Flag:
Horn Silver. Barcelona. Alice. LeadVlle ana
Standard. The comparison Of the prices OF tnese
shares to-day with the prices in the EOS and the
recollection Of the fortunes won and lost IN the
mining boom OF those days cause considerable
reflection just now upon the attempt to revive
interest in mining speculation. several large
banking houses have been approached in the
week by interests which would Ike their sup
port in starting a mining exchange but as far
as could be learned the banking houses refused
to take any part in the enterprise Every legti-
mate facility is offered for mining share specu-
lation upon the Stock Exchange and upon the
Consolidated Exchange. and the movement Tor
a separate exchange does not appear wise. The
gold mining fever in Denver is aimed to catch
the East and Europe. and unless support IS found
in these directions II j. not likely that it viii
continue. Denver spectators are starting OUT
on lines similar TO those OF the Katfir promoters.
and plans are already making for capitaliz.ng
every hole in the ground in Colorado. The
Cripple Creek region is und u5tedly good gold
field. but the mines few and they are closely
held
The local money markets were quiet IN the
week with some indications Of higher rates. but
higher quotations We're only obtained in call
leans, which ruled at 2Q2l2 per cent. an advance
from the previous week of y per vent. Time mon
ey was in light demand. contracts being made al
2l3 per for thirty days, per cent f"r three
months 3l2 per cent for four months and per
cent for six months The highest grade con-
mercial paper +G4i2 per cent for three ana
four months and Az per cent for six months
These rates We're generally made by houses
which placed loans directly while the majority
Of houses dealing through the banks quoted rates
at 2a "A per cent for sixty to ninety day indorse-
ments 4G4h per cent for four months accept
an-es: 4Mna per cent for four months high
grade single names 4l:Na per cent for *
months single names o. the same grade. SIX
months paper not 50 well known was quote at
per cent.
The foreign exchange market closed the week
dull AID at unchanged quotations, as follows:
Gables l. ng bills Short bits
Sterling .......... spa. 4.S7i9a4s1. +S
Francs ......... J1G3s = los
R4ichsmarks ...... vs. w..
Gulders 1V's US
The movements of he principal active stocks
in the week are shown in the following table