New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-05
Total ............ ..... Gl0f 9SO065 &l06. 55I O62
TIE YEAR IN TIE FINANCIAL WORLD.

THE YEAR in THE FINANCIAL WORLD.
The chief occurrences Of the year Of special
interest in financial circles are briefly given in
their chronological order.
January-Business was unsettled during the
first month of the year Congress passed the
Interstate Commerce bill, but the month closed
without its receiving the Executive approval. Re-
peated rumors of between France and Ger
many were in circulation The coal-handlers on
the Jersey side of the New-York harbor entered
upon strike which extended to the freight
handlers of the steamship and railroad docks in
this city. Judgment in Ohio Court against the
validity Of the first mortgage and in favor of the
second mortgage bonds Of the Newly rk Chicago
and ST. Louis Railroad was rendered. The Rich
mond and West Point Terminal Company per
s nd cad T
money market ruled easy at 3a5 per cent
Forei On exchanges were firm at advanced rates,
and importations of gold ceased after the | 9th
inst The Bank of England rate remained at
8 per cent throughout the whole month. The in
cidents related were the cause Of the effect shown
in dull markets at the Stock Exchange. and after
some small advances from the closing figures of
$50 dull and sagg,ng prices; A.,
Commerce bill early in the month Mr. Manning
resigned the Secretaryship OF the Treasury. Eu-
ropean war rumors continued to obtain periodical
circulation until the German elections took place
on the 2lst and these resulting in sustaining
Bismarcks policy allayed the lear OF war. The
ghthandlers strike continued to obstruct trade
till after the middle OF tnc mOnln, When IL ended
with complete and signal defeat Of the strikers.
Atchson Topeka and Santa Fe Railroad Company
issued its programme for the building of new roads
in Kansas, Colorado and California. The New
York Chicago and St. Louis Railroad Company
proposed to It's first bondholdcrs its plan of settle
ment Missouri, Kansas and Texas made settle
ment with its scripholders. Texas and Pacific
Railroad propoed adjustment with its income bond
holders Pacific Mail and Panama Railroad
settled their differences and made new traffic
rrangements and the control of Jersey Central
Stock was purchased by what was known as the
forbin syndicate Money ruled easy at 3a5 per
cent. Foreign exchange continued strong during
the early part Of the month and 1880 900 gold
was shipped to Europe, after which exchange
rates weakened The Bank Of England rate OF
discount was reduced to per cent on the Sd and
remained at that rate during the balance of the
month At the Stock Exchange the markets were
dull until after the occurrence OF most Of the
events above recorded, which were followed by
greater activity and marked Improvement in
prices SO that the final figures OF the month
generally showed material gains on the opening
prices. ~ -. -, /,
March.-The Trade Dollar Redemption bill be-
came a law on the Sd inst. without the PRESIDENT
approyal: under the operation OF that law, thc
Treasury has redeemed 81, 100000 OF the com.
The Pacific Railroads Investigation resolution
authorizing the appointment af three commission
crs. was passed March 3. Congress adjourned on
the 4th, but because Of the failure OF soAs N '1e