New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-02-13

and adds that those banks now hold OF Govern
ment moneys ,deposits) about $4,000, 0oo.' The
Government deposits In the National banks OF the
country yesterday were reported at S55, ,033,
but pot quarter Of TINT sum is deposited by
the Governments with the banks Of this city. New
aorE rs n args nunercaily commercially and nnan
than the whole country, and Of the B. loo National
banks In the country less than fifty are in this
to paint Its scarecrow red for the stock market
Some leading hnancers assert with confidence
that the banks must reckon on having the Gov
eminent funds steadily drawn down, and upon
congress the duty rests Of letting the money out
again into the channels Of circulation Why,
man. the mon y deposited in the banks has nooi
THAT is pretty phtase.) The Government de-
posts In the banks instead OF taking the money
into its vaults, leaves it in the channels of cir
euiation' exactly the same as it was before you
paid your small postage bin and as IL was when
that sum stood to your credit in bank. The hanks
are not paying 10 for los and S6 for As for
the purpose OF securing deposits 10 leave around
In their vaults. When the scheme was first pro-
posed Tor charging the value Of Government
ouslv predicted that IL would prove futile because
the banks could not and would not II they could,
ohtaln the bonds TO put up rs security. Well
the deposits have risen from 90 T. 900 900 70 $50
100000. and there is $40 900. 900 in circulation
when would have been locked no in the Treasurys
vaults II me i1mes's' foresight hal been as good
as its hntsigtt When the monev Is called for
Tor redistribution to individual depositors the
nan. nanss VIII nave no greater difficulty in paying it
transferring ~
private to Government account.
GOOD SHOWING FOR THE RAILROADS.
The Chronicles" incomplete table Of railroad
earnings for the month Of January gives the gross
Of OF comDanies S2l 673 OF o. against $40 s73 1876
In January, 1874 gain OF s799,523 or 3 83 per
cent, with an increased mileage OF per cent. Con-
slderlng that the earnings Of the railroads in Janu
ary 1897 were phenomenal, giving an increase
on the month OF $50 of about 20 per cent, and
that the last month was unusually severe in storms
ana nlockadeS the showing is a remarkably favor
able one. Including the reports printed below
InE IRBrNE has printed the gross earnings OF
fifteen railroads for the first week Of February,
giving gross earnings of s1,275.l35. against
SILL 1344 in the week of 1879 gain of
which reported Tor the week OF 1856 give gain
en- that week Of % 1-2 per cent.
The Chicago and Northwestern Comnauys state
ment for seven months OF its fiscal year was pub
hShed yesterday. In the six months ended No
vemoer 81, se7, its net earnings were sTOO6l2!
or only 81 500. 600 less than the amount required
TO ay one years charges and dividends of s per
cent on the common stock and per cent on the
preferred stock. In the seven months ended De
cembrr 81, 1897. it's net earnings amounted TO
sZS7s, 7s4 or only less than 81 900 900 below its
requirements for whole year. Last year in the
five months. January 10 MAY 81 IFS net earnings
SO, $50. 675 So TO inn peril rhe present rate Of
dividends there must be decline in net earnings
from January | 10 May 81. tins year. Of s.. $780,
600 And these figures do not include the profits
derived from the tr'ns-NissOuT lines which last
year amounted 20 900, 600 nor the receipts from
land sales. which last year, in cash and notes.
amounted to $3.50 600 total figures for year ended
May 81, 1887. Sl.4GO.OO0. the proportion or when
is not included in the foregoing summary Of the
last seven months.
NO STOCK SPECULATION TO SPEAK OF.
Ifwhen We speak Of the stock market it is under
stood 70 mean stock speculation. there was none
last reek except few deSuitOrv and tlnl1 efforts
toward depression IN values. The mar ke was en-
tirelv suppOrre hv anything OF speculative ch3r-
acfer. Ine " bears sold the MARKET down on two
DAYS and bought iJ back again. At concessions.
however, good market was developel thAt
evinced a Willingness 10 follow with buving ~ Tar
rs the " Dcars daret 70 90 on with +he selling
Tins was a snr rise and n dis0ppoir' mont % the
few leading operators. who HAVING been speclFly
ached on toe " estern r2liwaV slUltlou o. some
prOmi ient directors OF those companies, supposed
thar w1rh the news q, published. which thew had
IN advance. dennra u 'non c"uid Oe Woraed
without the expenditure d. hGcn more tm nu NJ
tion. No sooner did the rail set IN on hur9ddv
morning which followed Wednesdays closing az
the lowest figures than there was great haste eN-
n hted o get the wOtd 7ent ont through the news
bureaus that the bears" had all cove, ell up fany
one doubts this vnluntar' statement made nv those
most interested IN drreIvnQ lef him study me
wonderful IFS" and 'pefha9Ses" published this
morning in tue great "aear' organ, which meas
ures fhe Financial World partly by the ups and
downs of prices for securities. but princIpi lly
by gossip made for stock Exchange con-
OF dividends by the New-Yrrk Central and
Lake Shore omBanies perhaps" of what IS
10 happen Oui West Is particularly untOrl innate,
because there are few persons engaged IN trade
NV who 10 not remember th9t tne pnor business
an general s-agn1tion OF trade IN 1852, 1883 and
1854. following extravagance IN dividends at
the expense OF either malfte iance or bono issues
were the primary causes or those eueHtS' ana
moi he war with he Vest ~hOre line. ne busl-
ness Of the week IN stocks amounted only to
694 1872 shares against s97,093 tor the preceding
week.
subioned is our usual table. including the num-
Der of share, soli Of all stocks highest, lowest
and final together with the NAL prices OF 2 week
ago pr,sti1ed by the prices Of Februry - 1887: