New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-07

4, componies s. 6ai $50 s5p9i527 Inc s272 81 90
% companies 80. i,9i3.5e9 ls1oCl4 Dec ll2''So %
Total 10 cos 81 800 255 s72s5IH Inc s25e.sse a.
Sopanss s;Sl7 90 Inc sa: $50 - g
Total 30 co.'s So 500 22s saoo2ess Inc. s?2a,7co IS
THE WEEK IN WALL STREET
Business in etocks was again restricted last
week and the volume of transactions was even
below that Of the previous week. when total sales
amounted to only 1.3Hl7S shares. The number
OF shares sold last week was lls9,5Ol, and OF TINS
number twelve stocks contributed 9o9,42S snaTeS'
Trading confined almost exclusively to the
operations of the professional traders. On one
day there a slight indication Of more interest
in the market on the part of commission mouse
clients. but IT was not sufficient To AFFORD any
support. and the result Of the weeks course OF
prices showed small changes either way. "A,
vances were scored In some stocks where especial
developments in the affairs OF the companies were
fOregone conclusions, and upon the actuaI an
nouncement of these developments the stocks de-
clined profit-takng sales The affairs OF
some companies are not kept secret as some
people would wish for the chance to make hand-
some profits their information is often too
! tempting for the insiders and friends Of com
panies which have changeable stock values II
resist. Perhaps this may serve 70 eniighten those
unused to Wall Street ways on the curious spec
| tacle Of stock declining in the face OF faVorape
| developments in its affairs, for the question Is
often put in reference to immediate decline or
no movement at all when some Interesting an
nouncement regarding the stock is made chi
w
at profits on information and belief Of successful
attempts to make the affairs OF the companies
more stable. and the transactions in these two
stocks and Sugar Refining were the largest on the
list. The Chicago Gas companies, according TO a
plan which has been formulated, are TO be con-
sodated into one corporation under the laws OF
the State Of Illinois, and new certificates are 10
be issued. giving the present holders the same
proportional interest in the properties as now
represented by the Fidelity Trust Company GER
tifcates. The question having been raised as to
the right Of the Fidelity Trust Company to hold
the stock of the Chicago Gas companies, and as 10
settle that question much time and expensive liti-
cation would be necessary, ii would Geem To be
for the best interests OF Chicago Gas holders to
unite In carrying through a plan which will end
all the legal difficulties of the companies.
The affairs of the Distilling and Cattle Feed
ing Company have been prominently in the eyes
Of the public In the week. and the remarkable
spectacle has been presented or RECOMMENDATION
between the present management OF the successor
company and the wreckers of the Whiskey Trust,
by which all differences of opinion and other
things to be aside and the business Is to
be conducted with Mr. Greenhut and Mr.. Morris
having sort of an interest In IT, According
to the telegraphic dispatches this morning from
Chicago. 100000 in cash and 900 in the bonds
of the American Spirits Manufacturing Company,
the successor of the old company. are to be paid
to Greenhut and Morris. In consideration Of
this Greenhut and Morris are to abandon the
100000 of claims on the cattle-feedins contract
with the Distilling and Cattle Feeding Company
and deliver SS75.00O of the bonds Of the old
company 80 cents on the collar. lesfs $4,000
This $50 600 is supposed to represent portion OF
the interest on the bonds Greenhut and Morris
also agree to dismiss all suits against the COM
pany both in Chicago and New-YOrk. They are
to give and procure new leases 10 the American
Spirits Manufacturing Company for the distlery
properties in Peoria, and never to institute or
cause to be instituted any suits Of any kind
against the company or the Reorganization Com
mittee The Distilling and Cattle Feeding Com
pany msmanaged by the interests which the
Of the property have Just placated
What has become of the high-minded and lofty
efforts instituted by the new owners to punish the
t,Naf hn prIahf n N fCN
the efforts to show the public Of the gigantic
frauds perpetrated? The efforts have ended in
handshaklng all around. but If the affairs of the
American Spirits Company are not to be in any
way connected with past wreckers; if the past
wreckers have been Internationally called OF,
then official statement TO that erect should De
made. Until such a statement has been made
there will be reason to suspect that the old man
ayers are still in official evidence.
Sugar Refining advanced four points above lis
closing price Of the week before last, but 1t suf-
fereG on proft-taking sales and closed the week
only u per cent above It's opening. Heavy inside
intereets are dealing in Sugar at present. and
the professional traders are making what they
out Of 1t. The Sugar market is In a first
rate condition. and in the last two months the
American Sugar Refining Company has done, II is
said its best business in its history. Tennessee
Coal and Iron and Illinois Steel Company were
active In the week on favorable trade develop
ments. The most conspicuous loss In the railway
list was In st. Paul. but the rest Of the Granger
shares only fractionay lower. and Burling-
ton closed at a slight gain. London was heavy
seller Of ST. Paul, but outside of this stock did
{ little IN the market Some people who think the
bursting Of the Kaffir bubble will have pancky
effect upon this market believed that the time had
come last week when this was to happen. Gable
dispatches reported liquidation in the mining
shares and the belief that panic had begun was
reached by the advocates of lower prices. The
fact Of the matter is has been expressed In this
, column before. the bursting Of the Kafiir bubble,
which IS only a matter of time. will have no effect
upon this market sufiicen. to cause panic.
Political troubles abroad may help to precipitate
the end Of the South African mining craze, and
foreign holders Of American securities may sell
them to make good their losses in the Kaffirs:
but even so, this should not bring on panic. The
Kaffir talk served 10 dep!ess the stock market on
Friday. but there was little trace OF 1t left on
Saturday and decided strength was shown In
many issues at the close ot the week, although
the general market closed irregular and without
important change
There further reduction in sterling and
Continental exchange in the week. and better
Offering Of commercial bills. The movement OF
currency to the South for crop movement pur-
poses was large and the holdings OF the assOci-
ated banks were again considerably lowered.
From table Of the conditions Of the banks. pub
lshed In this column. IT will be seen that IA many
as twelve National banks are below the legal re-
serve limit, ana that the surplus reserve for
the week lowered by over s5.00000O to
$64H,52o, while In the same period last year
the $50. $3.50. The fact that some of
/ the banks reserves below the legal limit
should not be looked upon az an unsatisfactory
condition. for 1t is bound to have important
and beneficial bearing upon the money market
and the market for foreign exchange. The de-
mand in the foreign exchange market was not
heavy in the week and although cotton drafts
have been held high. they coming forward
more freely. and there should be n further reduc-
ton in rates in the course OF the present week.
J Gold shipments appear 20 have been entirely
eliminated from the situation. and, although
there some gold bills In the market early IN
| the week. the easy rates made II desirable for
them to be rebought. The condition Of the United
States Treasury satisfa ctOry to the Wilson
bill advocates at the close of September. when an
excess Of receipts expenditures Of 81 III 900
was recorded but since then. IN the first five days
OF October. that excess has foon wiped out the
excess of expenditure IN y five days being
s3s2JllO Yet the state o. tho Traasury's income
and finances appears to please many supporters
Of the Democratic idea OF reveaue-pr1duc.ng