New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-09-10

waiting for an opportunity TO relnvest at oet'er
interest than that paid by the holding OF Toy
eminent bonds. SO 1t seems to us TO DE lule
to consider the chances of Treasury absorption
Of money in estimating the course OF the money
markets. not only Of this city but of the whole
country. during this autumn we ma s'reSo
laid upon a possibility of such an absorption ohy
where last spring the estimates and opinions
secuted the idea that the Treasury would De
able TO purchase any important amount OF 0ohus
Yet since April 81 the Secretary has purchaser
s27273.250 of the per cents. and ST. 1l4,5Oo
of the l-2 per cents total, $40 OF ',ooO. me
Treasurys net balances Of gold silver ana legal,
tenders by Yesterdays statement was S3,6oO,Voo
greater than on April 2l In the Intervening -FOUR
months the silver coinage has amounted 70 81 "
100000, so that the Treasury in that time mas
actually put into circulation about shOoo'ooo.
The Treasury's deposits in bank now are aDOuI
s2,000,0O0 less than on April II. An ,ho,rh
The foreign exchanges were very duii throueun
the week. The supply of commercial o.is Is SUI,
limited by the scarcity of vessels to take away
the breadstufls and petroleum when are Wai'lI ing
shipment. Hence, large quantities OF oo.h ara =
still being carried by American mon'f rbc rates
of freight to foreign ports are now ruiins is"o CO
than they have done for years be'ore, wheat AT
Oil cents a bushel, which few months ago wnS
being taken at from nothing TO Genus nus,V. t.
With the arrival of vessels which the demand Il
certain to bring in, the exchange marke. VII VII
be amply supplied with bills when, Il h9v nle'
nv an UNEXPECTED improved demand will ma
terially reduce the rates belo" present neures.
As it is the market is barely steady at quo aIlonS
for business based upon = S Sa Ss ate Sn -
THE GENERAL SITUATION.
The weather Of the last week in the great
agricultural districts of the country, IL
it had been made to oraer, oq Iar
not have been more perfectly adapted to the mar
yesting and ripening Of crops Corn is now prac-
tcally out of danger it is still possible ior Iros.
to do some damage in special localities put hohc
that will affect more than minute percentage OF
the whole crop The latest estimates regarsa uIl
wheat admit that the reports oil damage pS IIV }
have been greatly exaggerated. Some Two NcchS -
ago some 600 600 bushels for the wheat crop Oh
Michigan was said to be a large estimate, n3w
%. OOG 900 bushels is believed TO be nearer IN. i
actual result. The reports from Europe dlrng Ihe
week do not change the estimates OF s,lo'S o ~
of wheat for the worlds supply, and every day II
grows more certain that Americas surplus U.
wheat for this year will find ready Ioreg h arhee
at large prices. II also is believed lna,' oMlhs ~
the high price Of wheat and the partial 1aihIc oI
Germanv's rye crop our exports OF corn from ule
present crop will largely exceed me exports oil any
previous year If these probabilities snail prov
TO he results their effect upon the general business
of the country and particularly upon railway earl
ings can hardly be ovcrestimated. IL are"Gv I'as
been proven beyond question that the uecinc III
tho net earnings of the Western railroads during
tho last EIGHT or ten months has been the result oil
mismana cement the part OF one or Two systems,
and not of a lack of tonnage. The oihclaI report
of the Chicago aud Alton, the lineage bur I .,
ton md Quincy. the Chicago, Milwaukee ana ~
paul The Chicago and Northwestern the chicago;
Rock Island and Pacific and the ILLINOIS Geh'rai
for their last fiscal years give lor omc croo o,
companies aggregate freight % movement mo men,
for the preceding year; Inc Nn .nn 77s
The six companies moved one mile was . L,o,-
4364s6 for the last year. against b. ooo, g
an increase of 97O,2S7,568. or IA Ia per cc1o
| When such results are here shown are supple
| mentcd by the additions which present conditlons
| promise. il is hard to believe that any raiIWay
| manacements will dare to continue the reckless
| course. even for personal profit which has beerr
| pursued during the past year Ucheiai udue a !
over the country already responds to the PROMISED
| large movements of our agricultural products
| and even the iron trade finally has developed uh
| mistakable evidence of improvements
RAILROAD EARNINGS
The Tribune has printed the gross earnings for
| the fourth week of August OF forty mine COM
| papics or systems, showing an average gam on
| The week of 1887 OF 6.27 per cent lhlrty-tWo
| companies have reported gains and seventeen
| companies have reported losses.
| Forty-sx companies or systems have rcporteo
their net earnings for the month of July
| twenty-five companies have reported gains az,
| greratinc s5Q0237, or 1856 per cent ana
| twenty-one companies have reported losses aGgrc,
| eating s1,424 226, or 5000 per cent Included
in those showing losses are the statement. OF I,e
| Chicago. Burlington and Quincy and Atchson
| Topeka and Santa Fe, which together furmsh
| cS31 3O1 toward the total loss Omittlng them
| from the aggregates, the other forty-iour com
NAMES return only an aggregate loss III net earn
| inrs of s3.6ss The following tables divide the
aggregates and differences OIL the companies SHOW
| ing gains and losses:
GROSS EARNINGS.
90 Co.'S So 7s8 $50 So 240 $50 Inc s4G6056 ~
Il Co.'S. 2155,s5e 199s'7oS Dec 1366o3 ~
40 Cos s4o3o13e s524s, $50 Inc s3o94os CO.
NET EARNINGS.