New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-06
ro,,l q co.'s .s3.o 43O22 ~'9oS'o-I In'
THE WEEK IN WALL SIREH1

~ announcement in stock values
-, ord az the close the character OF 'h'
,,.a,n, ho,h in stocks and BONDS was IL"
,.r,a,,,, he,tored. The general market
d.y olosad ve~v strong. and the present
I. for higher prices and an increaSeu
An, Investment sources. The great ii'pio
mon, IN railway earnings and the DETER ~
IN the iron and steel Industries CAV nd In
tone 10 the market at the uairoads and
terests Identified with .he ,oox an exceed
iron and steel companies tooh d" THE re-
ingv ontimjstic view of the SITUATION .,arasta
Gently formed pool Of Southern .oi tnterssts
and the combination on the sou r. Northern
will no ~ material benefit to the MI S ,be
southern and Western companies, anu 10
proper regulation and restrlctoh, ,o,r,hu,,on of
will tend 10 afford equltapie uia1 factor
the business and serve as an iihPU 49, . cnnsid-
In pushing a business which has peeh coiI1 -
erably unsettled in recent years IA t. % oreat
the tinplate interest, which dePehuUS -. ,bere ia
measure upon the price OF steer pi'ic.' Siscrin-
every reason to believe that no unjust u''''
ination will be shown. ,. until
The chief attraction in the stock market uiIea.
yesterday was American Tobacco. Inc Soui .,
OF this stock in the last three months. ana more
particularly In the last two weeks mas Iui ar
TO great extent the wild hopes or d hu nue.
OF insiders. and the losses II has caused 10 -,
have only served 70 point out the same o id,,s
son which dealers IN the manipuiaIeu Iiiu I,
trials seem never TO learn. IL ~ "aStS ,n
time 70 offer sympathy 10 those VINO nave an
a
knew beforehand the odds against the'n any,
they have had ample demonstrations OF 'ne u.
Ter utility OF trying to win where a IL" NM"
ing ones hold the only trumps Inc action VI
the American Tobacco Company on the oiNlo,nu
question has furnished excellent OBJECT Us
Son OF the questionable methods empIoyeu py
certain cliques at certain times 10 mix thc
Street" and in this case. while the sufferers
have been few. there is none the less or snnine
ana OF scandal attached to the anair Wneh
company passes and declares DIVIDENDS WIN
out any apparent regard 10 its earning capacity
anc income account. making It's actions SMACK
OF pure stock jobbng II Is time for rigid IN
vestigatOn by tho Stock Exchange. ana the
financial community will welcome any efforts
ENDING to discipline some or these Industrial
companies The Stock Exchange is not a chari-
table organization, nor Is II within its province
70 guarantee or warn Its patrons against losses.
us an institution for the legitimate buying and
ceiling OF securities and IL Ia not responsible
tor mems fortunes or misfortunes but II IL
responsible for making the companies whose
:nares are traded in IN the floor sensible or
sner privileges and OF their duty TO the pubic
which they invite t. buy their shares, The ex-
,,transe understands this, and takes all prccau-
s~ ons to bring wrongdoers TO justice, ana IN the
vaaSSe OF the Tobacco Company 1t Will doubtless
so"ow out wise and prudent course. Inc per-
- finance Of the American Tobacco Company ~
g. sne kind which Injuries the prosperity or Wai
ieet and Of the Stock Exchange. and endan-
80 confidence and cxc.tes public distrust as 10
vrmDinations OF capital
fot.,e political situation IN Europe mas caused
80 v'a lack Of interest In the foreign bourses. and
~ .ne London Stock Exchange little or no at
,sa "s.on mas been paid TO the American depart
6".ss,. while the lack Of life there has been re.
1920 IN the foreign operations In the local
Foreign Investors ore still worrying