New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-27

Cn.ted statea ssl2,7OO esL7O0 1850 46sssoQ
s ssS93:s S$sSS 5 5:SS sS
% Nat. SsSS :2S Yt5f
Inc bank exchanges at the Nsw-York Clearing
House ana the stocks sold at the NewYork stock
Exchange for the week of three years compare as
| folOwsi
Nss Fss 1853 E' 3 fs 4: :3s
LARGE GAINS IN EARNINGS.
TIE Tribune has printed the gross earnings
for the third week in February Of twenty rail
roads Fifteen Of them give an aggregate OF
! Sl,472, 625, against sl,226Ol5 in the week OF
| s-7 and sl,I34,575 in the week Of 1886. The
| percentages OF this years gains are 20 per cent
| on 1887 and 29.9 per cent on 1856. taxing
out Northern Pacific which for the week SHOWS
| a gain on oS7 Of Sc per cent and on 1856 Of 80
per cent, and the gains OF the other fourteen COM
| panies are lis per cent on the week OF 1857
and 2g4 per cent on lSog. Inc same same nlIee IN
February 81 an aggregate Of 80, 6O4, 9Vl, against
sS2l6,586 IN 1887 and s7,797,3l6 IN 1885
| Percentage of gains-l6S on so7 and 232 on
| 1885. Five other roads give FOR the week an
aggregate Of 40,94i against s42O17 N los =
a gain Of s7,s67, or 1s.7 per cent and Tor rom
| January / to February 2l an aggregate OF
s362l 62 against s31l 35s in 1854 gain OF
| $50, ia, SO per cent.
SOME NET RESULTS.
Below are printed the net results Of such raj
Of January. The Richmond and West Point sys-
| TEN reports gain OF S25, $50 lot the mohth Oi
January, and FOR the four months Of It's fiscal
year the gain in net eornings s242'2!S over
! those of the preceding year IL within S|l34 o.
being equal 10 whole years dividend on the
preferred stock Of the Richmond and West Point
| COMPANY Central Of GeOrgin also presents a
splendid showing in a gain Of ss6626, or 80 per
cent for January and s ssS So or per 'eH
The Pennsylvania Railroad, as usual or lare,
comes In with decrease in net earnings as com
pared with the preceding year. It's net earn,
lngs from the main line in January are reported
| s20s.431 less than for January, 1881 although
there was increase OF s342,2Oo in tne gross
earnings. An enormous charge TO operating eN-
| penses Of $3.50. 639 20.S per cent, more tAan
| In January, 1887, and Of S69s.Q64, or 70 per
cent, more than in January, 1886 Is what pro
| duces the result or course no one VINO - ~
| ali acquainted with the methods Of the Pennsyl-
vania Railroad for single moment suppoSes
that such large increased charges are caused 10y
an increased cost IN transportation lhey Know
| that it is money spent by a prosperous corpora
| ton in betterments and that IL will not impair
present rate of dividends But with those who pur-
| pose 20 use the figures for bear speculation
at the Stock Exchange it Is idle to reason: they
| will rise PhOenix-like, with the same Oid story
after n hundred crematOns in the fires or truth
! There IA nothing more falacious than picking
! ont here and there weeks or months earn
ings for the purpose Of comparison VIII that OF
and and Il. Pauf Railroad IN Jannary ran behind
1887 by s392s9 but the three weeks of ce6 W
ss6o since January l. The Pennsylvania
net for January was even with rs extraordinary
| charge to operating expenses s54,359 greater
than in isSS and its profits from the Western
! lines were s6O5l0, against a loss Of s222,35l In
1885 The TRPUNE is the only paper that
publishes the earnings for three years and tie
onlv daily" which gives them from January
l 10 latest date
THE GENERAL SITUATION.
The general situation has been clearly outlined
by the foregoing comparative STATISTICS. IL nag
been shown tnat the Treasury absorptlous so mucn
| talked about are as yet a phantom and what Is
| NOT unusual 10 the season OF the year. his does
not touch rhe question OF what VIII De tne condi-
tion next autumn if Congress fails tn adopt some
me hOd bv " hich Accommodations there NAV be pre-
vented Bat there is little question that the secre-
| tarv will he authorized TO purchase ponds. Sena-
| tor herman saws the Treasury has such authority
| now ont unfortunately senator Is not Secretary
sherman now, and the ruling aui horites hold that
the authority to purchase bonds beyond the require
mems of the sinking fund is OF Nuch questionable
character that they will not use II without fdrtner
confirmation. Therefore there should be no de ay
by Congress in satisfying the " seruples OF
the executive by q new act The bill requires no
debate and BY suspension OF the rlies III eOuld
pass both houses In a day ana take loac OF ap
prehension from the financial and commercial.
| world In connection with this 10 IL worthy Oh
note. that the amount Of bonds held oy tne ress-
nry to secure deposits in bank was reduced last
VT" n has been shown that yesterdays bank state,
nent instead of beng q bad exhioIt was
amarkably rood one for the reason mar ths move,
IelD'l o yo,nrareJ with hose OF 1887. 1856 aud
nssi even when measured by the rule Of tho,e
whose first essons were learned when tne eahk s
" ms was ron $4,000, 900 to 100000 600 IN the
sragnatiOn year o. 1850 III. -, .b.
| Tne SYNOPSIS of railway earnings tells OF Ipe
large volume OF business being donei th Y als00
show how little effect the terrible railroad war
! between few or many competing points mas upon
| The general trans 0ortatiOn question: rug s'c 90
talways az the West are fast becoming nko ~
Eastern hnes-it Is local traf1c ahd no' 'hi'"-"
business chat furnishes the earnings III, 49,
The stock speculation o the week was dl ~ 5 Sa
transactions for Ave days aggIegateu odo,Tnv ),
shares against 795O42 shares for the prrceu,n l :
Nil werk But even with the smaller tran s,'e,
lions, because traders were less aotlse, n snS
vas hrosder in the sense that commission bones
we're more than usually conspicuous ia !ne Spea II,
a.,ooa A relief from the " possibilities OF
freasnrv Absorption, by the prompt passage or
antbority 10 purchase bonds. seems 20 Dc now ali
49, "a necessary TO start The speculative wheel.
SnbioIned is our usual table, including the
nmber of shares sold OF all stocks. highest lowest
and anal together with the fnal prices OF week
ago. prenxed Dy the prices OF February 20, 1887
WEEKLY RANGE