New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-23

guage, we quote:
money is rapidly accommodating at this centre,
and the chances are that n will continue to do SO
In proportion trade slacliens in activity. There
is very large amount in circulation compared
with what there was about two years ago. when
expanding trade and speculation. stimulated by
the growing railroad construction. was draining
away in n steadily increasing stream the great
accommodations which had resulted from the fall
Of values in the spring Of / SS4. This money VIII
accumulate again at this and other centres"
To speak mildly the foregoing is only equded
for an authority which for six months predicted
the ruin of the whole country by the steady
locking up of money in the Treasury (which
never occurred en- leaving out IT," s2l. 600 GOO
last bond purchases and which asserted that the
money which had gone West and South scasonably
was buried in wild land speculations never 10 he
returned TO print paragraph like the above
when that which every INTEL gent person
ticipated begins to occur. But perhaps The
Times measures its readers correctly in suppos-
ing that they are Of those who possess no memo
ries As to the decline in business the fact that
the amount of imported lrYgOods marketed at
Npw-Yorll in the three weeks Of this year
$500 600 greater than i'm the three weeks of ss7
and So 500. 600 greater than in the weeks OF s86
furnishes evidence more valuable than deductions
made from false premises, as also do tho bank
exchanges in cities removed from speculative
effects But taking the clcarances at New-fork
last week. and eliminating from them and from
those of the week of 1887. the usual allowance
for Stock Exchange operations, the exchanges
other than from stock operations are $40. 100000
greater than in the week Of sS7. and 81 90 00O,-
OUO greater tlan In the week oil 1850.
RAILROAD EARNINGS GAINING.
And now come the railway earnings which,
cOmnarcd with the large earnings Of one year ago.
testify to active and lar movements. Be it
remembered that according to the same authority
which accnmnlates money in New-Iork IN the
month of January, " because of declining bust
ness" the railroad traffic all over the country
and PARTICULARLY in those sections from which the
weekly" reports of earnings mostly do come
is sadly demorized and rates are cut in
halves or quarters Yet TIE ipIBUNF's publica-
tons Of earnings including those prineed below,
cover the returns of eighty-siX companies for the
first week of January, giving aggregate gross
earnings of S3s9S.1 81 against S3.427670 in the
first week of January, os7, a gain of 81 60497,
or 343 per cent; also the gross Of foTy,sSven
roads in the second week of January. giving an
aggregate of S2.6l4,5 95 against s2,359,90l in
the second week of January leo7.a gain of
1854, A. or | 0.s per cent, and that with unusual
winter blockadcs Of traffic during the whole week
of this year.
And now they harp upon the declines in net
earnings And what do the facts show? Every
one knows that the last three months of $50
were the most profitable months to railroads of
tn, whole year; that the gains Of these three
months over 1856 were grccter than in any other
part of SS6. Well according to " The Cbronl-
Gle" scventy-siX railroads in November, so7,
earned net 3 per cent more than In November,
$50. Sixty roads in the eleven months ended
November 30, 1887. sixteen not having reported
for the eleven months earned Il per cent more
than in the eleven months of $50. What effect
the full return for the sixteen roads Will have
months Is not known. But this table as compiled
by " The Chronicle" shows the following: Nine
trunk Lines lost per &c, cent in November ana
middle Western gained per cent in November
and seven gained ~ per cent in the eleven
months. Seven Northwestern gained . per cent
in November and four lost per cent in eleven
months. Two west of Missouri gained 10 per cent
in November and ~ per cent in eleven months.
Eleven Pacifcs gained 20 per cent in November
ami II per cent in eleven months. Twenty
three SOuthernS gained IA per cent in November,
and thirteen gained 20 per cent in eleven months.
Eight coal companies lost % per cent in NOvcm-
Der and seven gained GO per cent in eleven months.
Five Eastern companies gained IL per cent In
November, and 0 per cent in eleven months, and
two Mexican companies gained 20 per cent In
November and AZ per cent in eleven months.
II will be seen that the comparison for the eleven
months Is incomplete b4t il is notable that
Chicago, Milwaukee and st. Paul shows gain
for November of 81 per cent, while its loss for
the eleven MONTHS is 30 per cent.
HEAVY DEALINGS IN RAILWAY BONDS.
In the stock market it was another dull week,
but In railway bonds large bus hess done
i'll and odt o1 the stool; LAch,n2c The speeu-
laJiNe SITUATION remains Unchanged. The mar
bingerS Of Ill cOLtlLuOdsly pIpcd their I mes of
dismal forecast 1t would take big vOldme
TO hold ali the sad predictions that daily
and hourly were dOled out 10 the members dAd
clicntasc of the Stock Exchange. 1t is loudly
asserted in behalf of the short interest That
out, and that the " bears" are waiting patiently
for the bulls to advance prices that they can
renew their sales. The average man, however
does not squcal when out of the squeeze. And
never were the talks and publications for lower
values more energetic than they were last week
But the actions TO that end in the way of sales
were tmd in character and featureless except
on the day Thursday when it was announced
officially that the great Reading pool had
liquidatcd 1900 shares of stock only because
of the strike of the Reading miners. On that in
portrait announcement the price Of Reading went
Off Ter cent, and other stocks were freely sold
or washed at some declines. That over the
market resumed its usual dulncss and prices gen
orally recovered ConfirmatOy of what has been
said here of the Reading strike and is effect We
quote from IN authority. " The Engineering and
Mining Journal" the following:
"Thc Reading Company, like all the others
which have been working under high pressure dur
ing the Lohigh strike. has need of time for doing
dead work and making rerairS, so that even
should the strike continue for another month the
comrany would still he able TO produce during
thc balance of the year IFS fair share Of the total
Out0ut. The Wyoming and Iacllawanna Com
ranieS are still forcing production. Should thu
Lchgh and SchuvlSill go to work. the. others
would probably greatly reduce 0utpnt while max
ing rerairs and pushing forward longneglected
dead work"
The sales Of listed stocks for the week aggro-
gated only 81 1888 shares, against 98L402 shares
for the preceding week. Suboined is our usual
table. including the number Of shares sold Of all
STOCKS highest lowest and final. together with
the final prices Of a week ago, preiiXcd by the