New-York tribune., 1875-02-15


the banks are possibly the instruments through
which we are to receive that further experience.
In financial circles the past week has been an un-
eventful one. Money has continued easy at q to
per cent on call and to for frstcass commercial
paper The exchange market has become unac
countably unsettled sterling having declined to
81 SO and S4 sc respectively for 90 days and short
sight bills. This OF course has substantially stopped
all shipment Of coin, and might reasonably been
expected to have reduced the premium on gold, but
such has not been the ease, gold closing tonight at
ll4s, being per cent higher than last Saturday.
The chances for the of the plan proposed by
the directors of the Toledo, Wabash and Western
Railroad for settlement of its difficulties do not
appear TO be as promising as they were week ago.
the bOndholders Objectng to the floating debt being
placed in the position of preferred creditors. An
other railroad. the c., C. & |. c. has during the
past week gone into the hands of receivers; and
altogether the business of railroadng does not just
at this time present very cheerful prospect. by
the memorial Of the Chicago and North Western
Company presented to the Legislature of Wisconsin,
it appears that the interest payable in 1873 ON the
mortgages appertaining to the 565 miles OF road
which the Company operate within the limits of
that State 81 S50 l35, and that the net income
from that part of the road for the year was only
81 O2G945. or deficiency of 1928 100; and also that
the gross revenue received from this 565 miles of
road during the months of October, November, and
December, 1874. under the Potter law rates.
from passengers "a per cent and from freight 26 per
cent less than it would have been by the rates
charged prior to October If We look care
fully, however. at the statistics of the business
Of this road, the weakness of the
stock might be explained without reference to the
operations Of theimuch- talked of Potter law. Dur
ing the years 1869 this Company operated 1.156
miles of road. The gross earnings S13,9 ,3i3,
aud the net earnings S6,06,s23. The total indebted
ness amounted to S5O77l,379. Five years later. in
1873 according to Mr. Poor's Manual, we find that
the Company operated $40 miles, and had an in
debtedness of SG6 023526. With an increase of S5,-
I47 Indebtedness and G03 miles of road tho
gross earnings were only S127S66O7, and the net
earnings S4.55s.37O. q falling OFT in the gross of
81 9O4 736, and 81. .45s 453 in the net earnings.
United States bonds have been in good demand.
but show decline for the week averaging about (.
ID cent. First-claSs railway bonds have been ac-
tive and strong. showing marked advance in
some kinds more especially the Pacific issues,
the Central Pacific rising to 96s Union Pacific lists
TO gSt Land Grants TO 94 95, and Sinking Funds to
s6t4. Chicago and North West bonds are lower The
week opened on the Stock Exchange with some de-
gree of life aud activity attended during the first
day by an advance since which the market has been
dull and generally declining. 1t is quite evident,
however that there still exist in the market two or
three ciiques fairly loaded with their favorite
stocks who are still inclined to fight against such
adverse influences reduced railroad earnings, as
well ss Improbable rates for transportation, and
they have thus far succeeded very well in sustain
ing the prices of their specalties The business of
the week has been small, only showing the purchase
-. half
to two-thirds the usual business before the
advance in the rate OF brokers' commits
sions The largest sales of the week were
in Western Unou about 167 600 shares, with prices
ranging from 73s TO 7ss, closing at 72i decline of
4 Der cent for the week. Next to Western Union
comes Union Pacific, of which 500 shares were
done at prices ranging from All to Soi closing at 40
which is on improvement of per cent since last
Saturday This is the only active stock upon the
list which shows an Improvement for the week. 1t
continues be held very firmly, though it was not
quite strong at the close as early IN the week,
which is true TO o greater extent Of the
entire List of stocks. Next in point Of
activity were Pacific Mail, 11S,O0O0 shares North
West, 10000 shares; Lake Shore, $500
Wabash, 44,6OO; Ohio and Mississippi and
St. Paul each A. OOO and Erie S5 600. Comparing tn.
closing prices to-day with those of last Satr- NO
find decline in Erie and Hannibal and e. To s.cb
Of per cent Rock Island ar ,.,.otio cd p,o;so
ioics'ap" o"0I Y" .sral and Hudson, New-Jersey
UenuA anu .,estern Union Telegraph, each .;
"e'@ . argo g. Co.'s Express, Il Harlem and
. anama, each {; Michigan Central and Quick
silver Common, each l; Northwest Common,
Pttsburg and Ohio and Mississippi, each II;
IT, S. Express, II; Northwest Preferred, .; st.
Paul Common and Adams Express, each 2t c.
c. and l. c.. "a Pacific Mail. "a; Wabash, o. aud
Quicksilver Preferred, AZ. Lake Shore, Fort Wayne,
Illinois Central and American Express closed the
same as on Saturday last, while Delaware, Lacka-
wanna and Western improved I, and Union Pacific
per cent. The subjoined table shows the extreme
fluctuations in United States bonds, the leading
railway and miscellaneous shares and gold made
during the past week. well as the closing quota
tiops Of each at the dstes aforementioned. and tho