New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-01-23

The Coal stocks of tho Schuylkill re- on appear
made by the Reading Road, for reaching New-York
on the Morris and Essex. Tho distance from Potts
vile to New-York, by this route, will be some 25
miles less than the distance from New.York to
Wilkesbarre, so that miners in that region can
avail themselves advantageously Of both the New
York and the Philadelphia markets.
The Connecticut River Railroad makes the fol.
lowing report for 1865:
Earuings::. s5aaio8 Expenses $50 ssl g;
Net income. SZlb,3ol
The increase in earnings WIS.,. 1854
The increase in net ncome...... l4,9l0
The ratio of expenses to gross income was 1914
per cent against SO per cent two years ago.
The Chicago and Rock Island Road earnings for
the second week in January show decrease Of
81, 800.
Railway returns for the second week in January
appear to confirm the impression we have recently
given in regard to the business of the current year.
1t is not pleasant, PERHAPS to anticipate less profit
able results on Railway lines than during several
years past but it is in judgment better to look at
the facts as they are, whether stating them has an
adverse effect on mere spectators or not. If our
neighbors choose to ignore the plain features OF
the times, and to elaborate arguments in favor of
Railway speculation against the inevitable tide,
ascribing to those who write and think differently
motives which should not influence opin-
ions in writings upon monetary affairs.
We can only say that we hope our neighbors
will not oct upon their opinions, and become inter-
ested for a rise in stocks. Our principal concern,
however, is for the public and in writing for that
interest we hold it to be hazardous to speculate in
railway stocks now, for the following reasons:
FIRST. Because the chances are strongly in favor
of large decrease in railway earnings through the
year-partly, if not mainly, in consequence of the
restoration of trade by way of the Mississippi
River and partly from the loss of Government bust
ness incidental to state of war. With this dimi-
mutton of gross business expect to see an equal
diminution of net revenue and of business, because
it is generally admitted that corresponding de-
crease in materials or labor is likely to occur. At
all events, it is not expected that materials and
labor can decline in the same ratio, and hence we
argue that the net earnings and dividends of rail-
way shares will diminish during the year.
Second. Because we believe that Government
securities, paying at the present gold premium
about 81 per cent per annum in currency, will
prove to be safer medium TO invest money in
thar railways, which seldom pay over 8 per cent in
currency. and which are now likely TO diminish
such dividends.
We hold these arguments to be sound IL they
are not, they will have suggested thought and in
ouiry. and can do no harm.
Tho Board of Directors of the Columbian Insur-
snce Company in consequence of severe and I'M
prccedented losses the past year, and particularly
during recent PERIOD have decided to close up the
affairs of the Company. They find themselves pos
sessed of large assets, sufficient to meet all iab
tics and have handsome surplus.
The Chicago Tribune of Thursday reports:
The money market was more active TO-DAY. but there
was 10 material change In s condition. The bankers
ali report the market close but they are generally sc
comuedatng their customers at 10 per cent per an.
per NORTH. The market for Eastern exchange Is still
frm. The bankers are generally buying at par and
ceiling OF lilo premium, bot some OF the bankers
bnying only at discount OF li09l20. Round lots
we're sold to-day BY bankers to each other at pre-
MUM OF Soc per thousand. The grain trade at present
is confined wholly TO the operations Of local specustor
excevt corn eats and other coarse grsns for which
there Is northumberland for shipment BY rail The
Flour trade Ii again afflicted with o malady known In
market eports Bomnals and TO which II IL subject
In periodical attacks Whenever prices here and at the
East more closely sssimilats the market viii probably
recover.
The London TINES talks very seriously Of the
financial situation in England, anticipates still
further advance In the Bank rate Of interest," thinks
1t possible that r. Is 20 per cent may have to be
endured, and says, at win be well for all persons