New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-05

Scncmc
teal success Offerings Of Government bonds UNI
der the Secretarys proposal to purchase were fully
satisfactory and exceeded the general estimates
The coal miners in the Lcbigh Valley struck. The
stock market was crammed with rumors OF an.
ticipated forced liquidatiOns There was tne usuai
talk Of an Anticipated money stringehcs; 1ut ene
per cent. The Secretary Of the treasury ISSUED
circular Offering to purchase sl4, 000. 900 OF either
or l;2 per cents at "a and loo a-f r rS re
lively The foreign exchanges ruled weak ana the
shipments of gold from Europe continued 10 oe
large. The stock market enjoyed short perlod
OF activity with some buoyancy following tne an
nOunccmcnt Of the Baltimore and ONO syndicaIe'
but following that there was stagnatlon ana de-
preston relieved only by spasmOdic movement
at the end Of the month.
October-The Secretary of the Treasury very
nearly filed his offer to purchase 81 1000 600 OF
A and l-2 per cent bonds under the september
circular. A new ruling was made in regard TO the
deposit Of receipts from internal revenue In Ma
tiOnal banks The per cent bonds were maze
security for deposit at 10, and the 1-2s at par
o al S S 90 se yR ssa e T
graph Company purchased of the Baltimore and
Ohio Railroad Company its telegraph system.
Chesapeake and Ohio Railroad was placed Ri in
way and Navigation Company by the Union Pacific
was completed, and negotiations with the Northern
n1p President Depew Of
the New-YOrk Central and Hudson River Railroad.
was quoted as expressing some extreme pessimlstc
opinions in an alleged interview with st. Louis
paper Rumors of an intention to default on the
general mortgages Of the Missouri Kansas and
Texas Railroad and place the road in the hands OF
a receiver were current The money market ruled
easier than it had done In several preceding
months. Foreign exchanges hardened, but gold
continued to arrive from Europe. At the Stock
Exchange the markets suffered much depression.
notwithstanding the result of the important ne
gOtiationS to which reference has been made. The
bear interest was large and aggressive and met
with no organized resistance to its efforts to es-
tablish lower values.
Novembcr.-1be New-Yorls, Chicago and st.
Louis reorganization was completed, and the
property was transferred to the new company.
Texas and Pacific and Central Iowa and New
York City and Northern Railroads were sold under
foreclosure in pursuance Of their respective reor-
ganization schemes. The. Northern Pacific Com
new 81 .. 900 600 third mortgage bonds. Western
NewYork and Philadelphia Railroad Comnany,
took possession Of tie property of the 9d aS
| under a decree Of foreclosure. The Penpsylvania
Railroad increased its rate OF dividend. Mr.:
Gould sailed for Europe, and the stocks with
which he is particularly identified Immediately
declined The money market hardened under
fears of a stringency toward the close of the year
The foreign exchanges ruled comparatively steady,
and gold continued to arrive from Europe: At
the Stock EXCHANGE the markets early IN the
month improved with an apparent increasing out
side interest. but late in tho month stagnatlon
prevailed and prices were dropping.
Dccember.-The closing month OF the year was
marked h. the usual ouietude attending the an
nual settlements. The philadelphia and Reading
passed from the hands OF receivers to the manage
mcnts selected by the stockholders the last day
of the year. The attempted strike on the part Of
the operatives Of the Philadelphia and Reading
Railroad the only local feature of the month
attracting snecial attention. Congress assembled
at the usual time, but at this date has not
sidcrcd any other resolution than that to adiourn
over the holidays A small war cloud was de-
| vclopcd by untrue report that the Emperor
William Of Germany was dead. Contrary to gen.
| eral expectation the money market worked easier
rather than toward stringency during the month
| The foreign exchanges firmer, and gold i'm
| portations ceased. The Bank of England rate
| for discounts remained at per cent. The Pacific
! Railway commissioners made majority and
minority report on the results of their investi-
| CATION, with recommendations as to the mode of
| treatment of the Pacific Railway Companies. At
| the Stock Exchange there dull markets with
prevailing strong tone, that the closing prices
of the month were generally about the best of the
| month Subioined are tables which give the ag-
| gregate amount of transactions including unlisted
securities. the yearly range for all listed stocks
| and comparison of the final figures of 1856 and
| 1877 for few Of the leading bonds:
BUSINESS AT THE STOCK EXCHANGE FOR THREE TEARS
Sales Of Government
bonds. sl5.57l 200 $13 367 100 s6647 90
Sales and
bonds 6C6 eco 542 6s5 1886 485 SGG 9e6 253
Sales of stOckss 49, 056 l0030S36 IS 1921 02s