New-York tribune., 1896-12-28
Total 10 cos. .sl.a5lG3s siai2si3 Dec. si4l.1e5
THE WEEK IN WALL STREET.

1t is very probable that in the course of the
new year vast amount of money will find its
way into the hgh-cass investment securities or
the railroads Of the United States; also INTO
municipal. state. county and Government bonds
II Is likely that Wall Street will soon begin to
appreciate the fact that railroad earnings VIII
not continue to show unfavorable results OF e ane
last few months: that after the opening OF lN!.
business improvement will begin in earnest. and
that the present Congress will soon pass into
history without accomplishing any legislation
inimical to the interests of the country AS To
the Stock Exchange in particular. there are IN
dications of SUMMER times. There is strong
evidence that bucket-shop operators VINO nave
bee the blight of the Wall Street community
for long time will undergo a rigid discipline
and that the injury which disreputable dealers
have done to legitimate wall street business
will he repaired by a vigorous warfare against
the bandits and highwaymen OF the street ne.
cent developments in the Board OF Governors OF
the New-York Stock Exchange led the hnanciai .s,,
community to believe that the so-called "brok-
ers'' and bankers who make up the unsavory
set known as bucket-shOp owners ana managers
men who misrepresent. steal and confscate the
deposits Of their custOmers-will hnd tnelr iuture
position in the Street opposed by the poweTIui
machinery of the officers of the Stock Exchange
A bright and cheering prospect is indeed pre-
s4ntcd when the men in authority on the Stock
Exchange take measures 10 purge the street vi
the indecent coterie OF men who have by these
questionable methods diverted business from
legitimate Wall Street houses: and especially
cheering is the fact that in deciding to wage
war against the bucket shops the STOCK FIX
TONED which cannot be lessened by appeals
TO carry out It's decisions and mandates to the
fullest possible extent. The bogus brokers' IN
Wall Street must GO People who patroniZe
bucket shops from lack OF information regard
ing the nature Of the scandalous transactions
made by bucket-shop MANAGERS VIII by degrees
have their eyes opened to the character or the
bankers" and in time. after a thorough eln-
nation OF the bogus brokers. country operators
in stocks viii again put their money INTO the
legitimate operating channels or the street.
ha
nancy will 60 into securities in 1891 are based
upon the prospect Of business and trade revival
in eood-szed and conservative proportions after
the opening Of the year and upon the over
hurdened condition Of tn money market. There
is almost an unlimited amount OF idle money
IN this country. On January | there Will be an
eddfional amount OF money available for in
vestment arising from the heavy interest and
dividend disbursements on that date, besides
payment Of S100OOWU by the Government for
the reAemption Of Pacific Railroad subsidy
bends The Treasury will pay out about S',-
0O00OO in interest on the per cents on Janu-
ery / while corporations will make their heaviest
interest and dividend payments Of the year
at that time II there were prospect ahead
Of more war-scare agitation in congress. the
placement of this money might remain in
doubt. but recent happenings have shown that
the majority OF people in the United States
condemn all uncalled belllcose resolutions
while the attitude OF secre.ary % Wr".y for doubt
as TO the position OF the Administration on In
ternational relations. 49, a.,
The money market was Uttie dHccseu p9 INV
bank failures In the West last week. the Shipment
Of funds from here to assist In STRENGTHENING our
Affairs having no great influence upon oahk noio-
ings at this centre. although ~ iendins ,s ,s.es
there was reflection OF the western oanK
troubles by hrner tendency most OF the week.
The Importance OF this was seen In the foreigh
exchange market. the advance In money rates
with other factors wiping out the profit there
would have been in gold exports to Germany,
thus preventing shipments OF the metal Another
factor bearing upon sterling exchange rates was
a marked increase In merchandise exports, the
report for the week ended December 22 showing
an increase In value OF 81 1873 138 over the pre-
oeding week. an Increase Of S3I10.SI6 over the
corresponding week In 1895 and an increase OF
81 $50 21S over the same time In the year BEFORE
that At present sterling rates II would be I'M
possible 10 ship gold al n profit. and II Is not
likely that there will be any exports In January,
e Europe is very heavily In this countrys DEBT,
-chsr1ise cx)orfs show no signs OF flliing
ou. and ne amount " bearded sterling held here