New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-14
Tuesday, April 1872. m.

After early dulness in the stock market to-day
transactions in the afternoon showed some de-
gree Of animation. and prices rallied throughout
the list. several favorable influences contribut-
ing to The improvement. a statement by eX-
Senator Edmunds that. in his opinion. the Joint
Traffic Association. under its present organiza-
ton. was legal and would be sustained by the
Supreme Court. had considerable to do with the
stronger tone in prices. while the report that the
refunding plan Of the New-York Central had
been completed the announcement that the ne
gotiations between the Lehign Valley Railroad
Company and a prominent banking house had
been contaminated, and. wha. was considered
more reassuring news regarding the Cretan Ques-
ton, impaired renewed confidence to many local
traders. and assisted in the upward movement
OF prices. The increase in activity was not
accompanied by any signifcan. outside buying,
the market retaining Its highly professional
character, with transactions poorly distributed.
In Reading. New-York Central. st. Paul, Bur
lington. Chicago Gas Jersey Central and Sugar
Refining. total sales amounted to nearly two
thirds Of the entire business in all stocks. In
Reading dealings were particularly heavy, and
were stimulated by the Lehigh Valley announce
ment New-York Central gained per cent. and
the rest of the Vanderbilt group made encourag-
ing advances, while elsewhere in the active rail-
road list net gains were correspondingly favora-
Bile. Burlington was strong on the improve
ment shown in the company's annua. report
over the preceding year. Details of this state
ment will be found further on in this artlcis
The market closed strong at about the best
prices of the day. The fact that advances were
made without outside support ard upor not
unexpected developments, is the best comnen-
tary on the underlying strength of the market
and general conditions.
General sentiment In the financial community
ic huc Sti
the crusade against bucket-shopi. and 1t is the
fervent wish Of every representative banker ana
of every man interested in the legitimate busi-
ness OF the Street, that vigorous efforts VIII con-
tinue to be directed against every concern en-
gagged in the bucket-shop trading in wall street
The fight should not be stopped at TINS Juncture,
for there are yet many bogus brokers living on
the profits Of dishonesty. and so long as they are
permitted TO continue their evil doings business
will be diverted from the Stock Exchange. and
the money of many dupes VIII he secured by
knaves The Stock Exchange authorities have
made praiseworthy efforts to rid the street OF
bogus bankers and brokers. and it is within their
power, working with the Police Department. eff
fectually to cleanse the community from the ma
lignant and pestife :ous influence OF this class
Of swindlers who. moro than one OCCASION
have brought reproach upon the Street in gen.
eral Vigor Of action and energetic work will ac-
complish extremely important results. AT this
time, when the good work of purifying the Street
has begun so auspiciously, there should be no
opportunity afforded the public to criticse the
Stock Exchange as being in condition OF apa-
thy or suspended animation. The public should
see marked display of activity among the men
who ask 1t to deal In the stocks and bonds bought
and sold upon the Exchange. Efforts should be
made to give the public more information re-
eardfng the merits of companies in which in
yestments are invited and when a company re-
fuses to make a clear and intelligent statement
of Its financial condition, that company should
not be allowed to offer its securities to the public
through the medium OF the Stock Exchange No
one except the officers of the corporation. knows
ANYTHING about the condition OF the American
Sugar Refining Company, yet the shares Of this
concern are dealt in to larger extent than those
OF any other which are traded In on the Stock
Exchange. The detailed statement furnished by
the Reading Company in its recent application
to list it's new securities was gratifying and ac-
ceptable and In the listed department of the Ex-
change II Is true that more stringent rules now
prevail than formerly; but In the unlisted depart
ment, to which Sugar Refining belongs. there Is
none Of that supervision so necessary TO an in
tegent discrimination between the good and
bad features Of securities offered for sale. The
attract business have deceived many spectators,
securing an enormous business for the prOprie-
tors Of the shops, and In the absence Of informa-
ton about legitimate brokers have induced many
people to open accounts with the bucket-shops.
Honest brokers should be encouraged by the
Stock Exchange to keep the public well Informed
in regard to legitimate Wall Street business In
ators OF discretionary" trusts Syndicate"
purchases, market registers and Scientific
money making theories And high-class firms in
Wall Street ought TO advertise their business
freely and judciously in high class newspapers.
Prices for last sales OF the PRINCIPAL active
stocks to day, compared with the final figures Of
yesterday. were as follows: