New-York tribune., 1886-07-20

MONDAY. July 1872. VI.

MOSDAY July 1o-P NJ
At New-york tho bank exchanges OF last week were
S55517l o77 being decrease from the week or 1888 OF
80 per cent Ontslde OF NcwYort the bank exchanges
OF tveutvnue cities amounted S29l 23G9O0, being
an Increase over week Of 1885 of l5 per cent The
principal gains percentages were as follows; oman"
o. NewOrleans 70 Lowell $50 Detroit 1913. Kansas
CITY 3z5 Milwaukee 80, Boston 3d. 3, Columbus 2f4
Cincinnati 2l.0 Philadelphia 207. Baltimore lsv'
springfield l7.5 san Francisco 16. Memphis 14.3.
Worcester 132 New.Haven 49, aud Portland IA
This although less favorable comparison than pre-
ceding weeks have shown is satisfactory exhibit OF
the activity in trade away from speculative markets
And II ia such exhibits that make the
present condition OF tho coal uade ana VI
railway traffic so inexplcable Tho one mas
deliberately thrown away 80 cents per ton on
some 900 900 ian increase over the ak months
OF 1885, OF coal which has entered into consumption
since January l. and the condition does not improve
but rather grows and threatens to become wa"
with An unlimited output the weapon to test the syhs
qualities OF the several interests We showed In todays
ssue that the output for the three months already ex
pircd since tho agreement OF the coal companies In"
exceeded the allotment 100000 tons. OF which excess
the Reading Company had contributed 3o3ooo 'ohs' an"
that reason tho other con paies charge hst the "
moralzcd condition Of the trade is because OF Hradhs
bad faith but the Lehigh also exceeded its allotment ny
LAG 600 tons. whilc the Pennsylvania Railroad wmch
did not agree to the arrangement exceeded Its quot"
l5s 600 tons These facts may in part explain why the
coal trade in its present deporabe state but they 40
not account the want OF harmony. not to say pau
faith existing between the railways all over tne cou
try. IT., nothing new to say that railroad building
and Capitalization havo Outgrown tho present capac'v
of the country support. aud IL Ia not improbaDe 'ua
snc nrye ments IN general bJslness as yet have oeeh
made fail to meet that goal But this IA fact wncn W"
believe was recognized 10y railway managers "no :"
common with the general impression were "lsPoseu "
make and abide by equitable arrangements between
themselves ~ woult not permit the carrying oil ci'
freight or passengers at unremuneratiye rates Az
such atoms IA ave been disappointed The Trunk
line AGREEMENT proves TO b, rope OF sand Etch con
panv charges the others with cutting rates, nut an bay
that the IRREGULARITIES are not serious ehouH" " '
woke open warfare" Al the West the rarosoS 'oi '"
weeks have beer doing a large part 7 'hr'r "u''' "
rates which did pay the of handling an" h"i
mo hc stnf onl I'm that way probably have stimulated
an movement m"rchandse which will account
Tor tho large gross earnings which are now pehS ~
norted The effect such ratos on net earnings mas
been shown by the trunk hne repOre oi tNo
last two years. AT the west soho 'o''
OF settlement has hern patched MP, and rest oraton
OF raies to naie Tomorrow hi- been orderel; p.
the OF the cvi-too m"uy a"",s " hn' riDh
paraleling OF each other lhes-Nhs oelhS pusne"
greater energy than II Is now IheNc ar sono oi VIC
rrasons hy The marcel - as limited ~ IL Ia ana
why the clique. which hat bought shares Tor the July
boom fan to nnd any heni"nn , mai. ....o ,,,o
Io-day's STOCK market developed httle more ire 10
than IL dId on saturday and che sales amounted 10
lG7GlS shares. IL WAS "A dr0OIlhg lnhihet however
from ts opening AZ IL H. I'LL aiier -"o p H. ~ @ tno
,st nft.cn nnnfrs thrre rccoyeres OF i4@- per
cenl fro,u the lowest cares. New York and New kh Llama
was special exception to the g neral course ct the
market, The aalcs OF us (27.1OO) shares were un-
n.ua liz large aud 10 rose from i43s 10 Ala, closing
strong at the hest figure. There was no new d-Vel
opnru about property nor tun"rs oi leases or any
thiug else. The aoYance probably was due 10 inc
Gradual absorption stock which has been In progress
for some line NV parties who believe u t. be growing
property, and. va co. cheap on lts own lheflls
vii out regard arrangements or leases Win c0hrct
ing lines. or the general market there was sanchr7s
wnch urbids pdrtlcularlzng; II was all weak-lh hG-
nres-togcihrr. and vet there was not any marked
10 The support less manifest than Il
before aud set OF traders FOR that reason
IquhIatcl upon another set who expect the support
again viii he Forthcoming. fhe oan uarSet indicates
minimum of snort interest in the market, and to-
days decline did not invite any special enlargement
Of It,
Government bonds were duh but strong at quotations
except the currency Gs Annexed are tue closing
quotations: