New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-05-21

April 81 and May compare as follows:
Ne. Col. tgs Msg 70 5is' Dee sssiss5ss
Net Silver 5o9ss.941 51,932, S9e Inc 124s4o'
ders. 2G,5seoos s.osa5e1 Inc. 4.5Ooss2
ury slos,4s4, SCI slss Cos, 81 Dec sss21's ss
tisna Banks 55,slo4o4 54sai9ss Dec sss6l5
Total Cash so4s7s54a1 s2ss So. $50 Dec oson
It will be seen that its net cash balance has
been reduced Sl0,209, 9il, Of which $S,S2l,Syo
was by reduction Of the amount OF cash IN ies
vaults. During that period the cash in its vauIls
was increased about So. coo, 900 by the coinage Oh
standard dollars. Hence in the four weeks
s12,40o,oo0 has been added to the money markets.
Of the country, which before were abundanty sup,
piled because OF the large expansion occasoned
by the importation and home production OF goia,
and the continuous coinage at the rae ..
weeks the banks Of New-York City, as per state,
ments of April 81 and May 10, have accumulated
s17,5e4, 500 although they have been called upon
for 81, 600. 900 gold for expectation. Under suc1
conditions comments upon the conditions OF sn1
rates for money seem 70 be unnecessary; San
loans rule at per cent generally, because lenders
do not think it profitable 20 handle the coilaVa
ais and assume the attending risks for less re-
Enumeration; but the amount every dav remain
ing unloaned is beyond calculation. Inc RAJ e
for time loans tending downward, ana 3af pet
cent for the remainder OF the year are rates ~
which money is freely offered The foreign eN-
changes were very quiet during the week. but tns
rates were firm and closed on the basis OF 81 30 "a
ling. Some disappointment was expressed thae
the taking Of the Baltimore and Ohio loan dld n1O
furnish the market with bills; but that dsAP
pointmcnt was in quarters where lt had Deen 10! 10.
GOTTEN that the loan was absolutely taken ana CY
money therefor furnished by the syndicate seHerSi
months ago. The amount allotted TO the E .hop
mean subscriptions was only s5o0000 greater tnnn
fhe European portion Of the syndicate orglhnaIRE
took. The placing of the Reading loan, |n VIII
now seems to be assured, VIII have a mauern na
aAect unou the supply Of bills IN the eXcilAhEe
marlyet However. there never was time IA 'ns
history Of the country when liberal expofos os
gold could be viewed with so mncn satslaG.ion Of
nov, II would relieve the plethora condIu93n "
n NOV Money markets and eventually further stmu
Iota European investments in American securlOi'''
PAUROAD EARNINGS STILL LARGE.
Rerarded from every point of view, the railway
RETURNS of earnings are extremely sasslaoUoiy'
For more than a year there have been connnuouS
rodic+ions that railway earnings were not only W
cease showing gains but that IN the near lu'utS
the returns would show heavy losses rom ~-.
nreceding year. A year ago we were tolu Vil 's
when the movement was over which IL was S
WAS stimulated in the early part OF Apfii on ~
connt of the Interstate Commerce Ia" sOniS nv
oeeot we should be met with comparative decnnJa'
s shst ,,vonid be astounding Well, May passSea,
"a the average increase IL the earnings u
month over the earnings OF ha5, less' about
per cent, On An $50. has presented those
tbreatened appalling losses althousa iaso . ant
did return a general average OF . IL pc. ~
decline But now + we cf these predictions
made and with mileage something hAc anS
per cent greater than IL was ye"s Gains
with earnings that still cohtinus So Sev-
nnon the phenomenal returns OF May Ieo';a tGoir
entvseyen companies which have reportea .No on
earnings for the first week IN May esane in
aggregate of s4,O11,o7e assnssss $50 7T or SO
+be week OF 1851 gain OF s5Z4, q, VI 49,
Une cent Intending the reports printed below,
R Sr '' TRIBUNE has published the returns on in
twenty-five companies for me see9n ss7 ecainst
90 oea "a I'm the week Of 1sS7-s gain OF S@Vo'-
S9T or 9. % per cent. But this way OF ststi ih
IL docs net convey correct impression Vi sno
actuaI condition: OF the thirty-one Companies;
eiSbt st Paul; Milwaukee, Lake Shore ans ana
western: Detroit, Lansing and Northsrn; nl.-
waukee and Northern ST. Louis ana san san 6h ,
cisco; ST. Paul and Duluth Ioleuo anu %ti 0nr'
Sentral and louisville, New-Arbany and chicago.
Show losses aggregating S72,667, or IO.oo per
cent The other twenty-three company . 49, -
an aggregate Of 81 e36, against SS7g SoI
the second week OF may, LOO 80 b"A4 ~ w.
or 90 40 per cent 49, -, A. -,.oo1-
The chief and significant feature Of the week week
in financial and investment circles was inc arIuic{
With which the Baltimore and ONO loan OIL
$1,000 600. taken up by syndicate several lnSnSSI
ago was more than subscribed Tor Wheh o1creu
to the public within the business hous a od sT
ceeded s25.OO0.000. What was the amount re-
ceived after the closing OF the books, W mcn
occurred Immediately after opening ene MS nan on
~ IN norning7 is not known 1t has been
stated that the entire amount of the loan vas
Given 10 London because more than the luu
amount had been subscribed for there before
the time for opening the newborn books on
Thursday, 10 q. m The amount allotted 70
London was "a. 100000 and to American subscrlp-
lions sa50O0OO. The significance Of these I'M
merse subscriptions both at home and abroad Is
in its development OF the large demand there
Is for American railway bonds. The nome SUD
scriptaons unquestionably reflect re- nvestments
of money realized from the sales OF Governments
10 the Treasury. The successful NEGOTIATION Oh
these bonds places ia the haRds Of the syndicate
which originally took them up SA,S15,eeo Tor
other negotiatioRs, and settles the question oil
the prompt taking up OF the entire Readlng lean
whenever the parties come together upon the ng-
ures The general bond market ruled strong
al the week through and was not all in sympathy
With the pessimiso operations in the SHARP market
All frst-class bonds of all issues are ruling hsh,
and the business in both them and bonds OF less
established character was limited by the offerings.
THE CHIEF FEATURE IN STOCKS.
In the stock market the chief feature Of the
week was supreme dulness for the general list,
and the second was the continuation Of all kinds
Of rumors unfayorsble to prospective market
values. While, barring foods, the crop prospects
were materially improved by the weather Of the
week, there was no change in the general char
acter of the special reports daily published for
circulation in and around the Stock Exchange.
The bull movement in wheat made further progress
in the early week and it-a pure speculation
used for evidence Of bad conditions for crops.
The old and WORKOUT song Of =" No business for
the railroads." was none the less loudly hummed
because the daily reports Of earnings dsproved
it. Finally, it was reported that the ST. Paul
Company intended to make further issue Of
preferred stock. This report was absolutely and
unequivocaly denied by the highest officials Of
the company. There is no question, however,
that the operations In the common stock for the
week have very materially increased its over
issae-the snort sales Of IL having been liberal
and undoubtedly far in excess Of the amount Of
stocks OF that character retired by the closing
oil short accounts. The dealings in the stock
l2S4,l shares furnished IS per cent Of the
total transactions IN all stocks at the Stock Elk
change, and the net decline for the week was
5-s per cent. The other granger stocks were
somewhat affected by the apparent weakness in
st. Faul and Omaha preferred declined per
cent on an unauthorized statement that il would
reduce It's next semi-annual dividend Ricbmond