New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-30

Il ~
gains Of sssAsia or pa Der cent. and twvny.four
return losses Of tiieesi. Or per cent. The whole
tribune has ALSO printed the lSrees serninss Of
in September. OF which twenty.nine return sains
losses Of q Iss. or S. per cent The whole shows
| q gain Of e1S6.sS or "a per cent.
second week in sep.smSer- ,.. r.....
: ss%s::: i;: si:i: b Is ssi /:
Total Is cos. 1855 7ui a7.4sais Inc. ssssss7 rs
:s$s::i:: Sis s7ss D IN; S.: 5;
Total 81 co. .s4oas74 se.22o ~ Inc 1issoss g..
THE WEEK IN WALL STREET
There was little enthusiasm in stock transac
tidhs last week Heavy interests were not factors
In the course Of speculation. and outside support
was totally lacking. the market being thoroughly
and absolutely In control of small professional
traders The volume Of business was small and
narrow. In I'VE stocks the transactions amounted
to over one-half Of the total dealings. and sales
| In thirteen active stocks comprised 1.01s.llS
shares. leaving jus. s20ss shares for the rest q
the liet--ovcr 100 companies. exclusive Of stocks
| on the inactive department. Further exports Of
gold In the week appear to be the chief reason
for dull market. and perhaps heavy interest.
| ere keeping Away from the Stock Exchange until
| they are sure to the future Of the United
i -
| syndicate OF bankers So far It's condition can
not possibly be construed ~ satisfactory. deSpte
the fact that revenues Ia the last few days from
| customs receipts. internal revenue and miscel-
laneous sourcer have exceeded expenditures to
| an extent sufficient to make an excess Of re-
cepts for the current month OF nearly >a.ooo.oeo
BY keeping down expenses to e minimum. and
| by holding back payments which should right.
fully be made. Mr.. Wilson's tarIn act has been
| made u DO what its sponsors promised for IT
| when iGhrst became q law for few days In
| few"monthA ~ tts career but not even MIR. VIII
son, Mr. Jones or any VI the other hnan-
| clal and economic experts OF the last Con-
law will be more satisfactory than that In the
| last year. Estimates for next month indicate
| big deficit and continuation OF this law. with
| the constant fear OF gold exports. may well
| mako operators In stocks restrict their dealines
In the week the Treasury lost over 100000 IN
gold on shipments to Germany and Canada. and
although the rates for foreign exchange do not
permit gold exports at proft. more OF the
| metal may 60 to Germany this week. the shipping
| Arm finding It profitable on commission There
was a special demand for gold from Berlin for
| the purpose Of converting the Prussian bonds.
| but the nature Of this operation IL not 30 ex-
metal. and cannot be cisssed with the demand
which took gold from here at the time OF the
Austrian currency reform. Moreover. II the rates
Tor foresn s., 10 pT"t Berlin rim
| bankers will find 1t cheaper to secure gold In the
European markets.
For the present. at least. there good reasons
fer believing that the Treasury far a. its gold
| balance ID concerned will get along without the
assistance Of outsiders. for the crop movement IL
now developing sufficiently to make supply OF
commercial bills for all ordinary requirements.
and security bills against sales Of American rail-
way bonds abroad may be expected. In the last
two days of the week the movement OF currency
for crop purposes vas large. and the great adj
In the price Of cotton in the last week has
! stimulated the trade to an unusual extent. An
advance Of nearly - { bale in one week has had
the effect OF rushing the crop to market. and est-
mates Of q small yield which are now generally
conceded correct are . great incentive for buy
ers to hurry into the market. Fears are ex:
pressed that the sharp advance In the price OF
this staple may restrict the export demand, but
the reduced yield may act ~ countefbalance
and the yield larger. Although the transfery 6f
currency to the South have beer liberal the New.
York banks still hold large reserves, and last
vorabls exhibit had been expected. There 10
little demand for money outside OF that for crop
movement purposes, and loans have decreased In
rates prevailing in Europe make 1t possible and
desirable to make loans here whenever there are
any indication Of rates hardening. Commercial
paper has been In ssuaal supply and many houses
which make y speciality Of mercantile loans have
not done enough business In the last summer. or.
in fact since the panic hardly to pay once ex-
penses. The assortment Of commercial paper Of
ferlngs last week was somewhat improved the
supply coming chiefly from nearby points and
Eastern cities. but the majority OF loans were
made by city institutions other than the large
banks which were busy engaged In looking
after their correspondents
While stock speculation was held In check BY
gold exports the developments OF the week In the
industrial world at large were satisfactory. and
influences which should have q favorable effect
Of SONS stocks such influences were rejected in
higher prices and probably. II the gold spectre
had not been present. gains would have been re-
corded In all the active issues. Speculative At
teation in London continues to be centred upon
the South African mining craxe and until that
great bubble has burst American shares may
expect little attention from the foreigners This
speculation has reached such an extent that .
rule has been made that no new mining stock
shall be introduced upon the Bourse In Paris. ana
tnis harmful speculation. which. X not stopped.
will end with . crash that will carry Thousands
and thousands into bankruptcy. ruin and power
ton to our stocks they will undoubtedly see q
far better condition Of AFFAIRS than when they
switched over to African mines. The progress OF
recognising bankrupt railway properties 10 more
encouraging every day: and the success attend
ing the work Of Mr.. Morgan In Erie promises to
te repeated In Reading. and reports are now cur
road Will soon be launched. perhaps this week.
The anthracite coal roads are ell endea vonng to
regulate the trade to paying basis, and the IA
helped the coalers In the week. and speculation
In these shares was a. heavy a. the amount OF
then available stock allowed In this respect
Reading vas the only one to permit Of any great
activity. Speculation in the Industrials particu-
larry Sugar, Gas and Whisky. was active. and
all these stocks moved under the pressure OF
manipulation. Whiskey stock was bought be-
cause an Improvement has taken place In the AZ
fairs OF the Distilling and Cattle Feeding Com
rany. At least It Is called an improvement be-
cause the former wreckers Of the Trust have
been induced by the Reorganization Committee
to discontinue their opposition against the new
mana cement. or the Reorganization Committee.
which takes at cost the $500 900 bonds OF the old
company which the wreckers Of the company took
at ~ cents on the dollar Stockholders Of Whis-
key who have not enjoyed the privilege Of the in
he ms ~ TN
ask what interest the former wreckers will have
in Whiskey affairs In the future.