New-York tribune., 1888-03-26

The bank exchanges at the New-York Clearing
House and the stocks sold at the New-York Stock
Exchange for the week Of three years compare as
follows:
: s::1s IN. - 81
The money market was easy throug ghout the
week ut to IL per cent for demand loans. The
extreme rates were i-2 and 8 pcr cent. There
were no material changes in rates for time loans,
which quoted at TO 1-2 per cent prime
collateral. Rates for mercantile paper were slightly
SITTER at to l-2 per cent for the best names.
The market has shown no symptoms OF even the
usual demand from the interior on account OF
the April settlements and those who have feared
an acute stringency are likely to be disappointed.
In some cases, it may be presumed that the dis
appointment will not be wholly an agreeable one.
There is reason TO believe that banking institu-
tons, which for the last month have been lending
on call in the hope Of higher rates for time loans,
are already disposed to be more liberal in their
accommodations The foreign exchanges were quiet
but firm, and on Wednesday rates advanced
for sterling and also continental drafts. The ad-
vance was due more to scarcity OF commercial
securities or merchandise account.
While the railroad earnings reported for tho
second week OF March show considerable de-
| creases In comparison with the same period last
year, the results are less unfavorable than cir
cumstances would seem to warrant. Traffic was
specially heavy last year while this year railroads
in the middle and Eastern States at least, were
blocked with snow, and in the West they were
partially crippled by the Burlington strike and
IneSc
ditions did not exist, the earnings showed moderate
| or satisfactory gains.
ACTIVITY IN THE STOCK MARKET.
The increased activity in the stock market in
the past week was welcome relief to the previous
dulness. In Wall Street stagnation is dreaded
only less than financial panic, and an advance,
or a moderate decline that attracts new interest
is hailed with almost equal cordality. In this
instance the decline was not serious enough to
esiIIS gfi
speculation. While the movement OF prices was
irregular, the so-caled Gould shares particularly
and probably most holders of those stocks are
amply able to endure even larger losses without
privation even IL they cannot accept them with
good grace. Missouri Pacific sold at 81 i-s on
Monday and at 40 IA Yesterday, q decline suf.
ficient in some other stocks to cause something
like panic. There no evidence, however,
that any large holdings OF this stock were dis
lodged and the mpidity With which the price
advanced In the last hour yesterday was slight
indication Of the real purpose Of the early de-
cline.
ments Of Missouri Pacific, until 1t was realized
toward the close of the week that even the pass
ing Of dividends BY that company was not uni
to suppose that such action was even contem-
plated but hopeless rumors were sedulously en-
that the 90 Hs Of
absorbed about f25 600 600, and that the earn, arm,
company's treasury is undoubtedly poor, except
In the securities OF auxiliary lnes which are not
Justify dividend on Missouri Pacific stock, and
the doubt about 10 that has disturbed Wall
Street has been essentially speculative.
It was probably for this reason that. In spite
of the furry In TIA Gould stocks. the general
market closed actually higher than u did the
week before. The largest nnai declines were
4 Ia In PaeiHc Mail I Sc In Western Union
and IA per cent In Texas Pacific. Aside nom