New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-06-10


The gold exports, as they have been during tne
whole season, were chiefly made 70 the Contlhenl
the sterling rate not wurranting shipments Oh
gold bills
RAILROAD EARNINGS
The Tribune has printed the gross earnings
Tor the fourth week In May OF hfty.pWo rni III -
! companies or systems. The comparisons wlth tne
same week of 1883 continue to be mvoraote.
OF the total number thrty-nin companies nave
reported gains and thirteen companies nave re-
ported losses The subjoined table divides the
aggregates and differences OF the companies snow
ing gains and losses
FOURTH week 1893 1882 Dissssessss Per n g. J.
70 e. sfiSis &c iois$is Dee e 1865 iS6i
Total. 50 700 e6,1OO 1os Inc seto1os AS7
THE WEEK IN THE STOCK MARKET
Durine the first half OF last week the stock specu-
lation was hampered by temporary disoontnuance
of the ticker service by which heretofore the
transactions and quotations made IN the hoor OF
the Stock Exchange were reported almost instanta-
aeousIy to brokers' Offices banks, hotels, bucket
shops, etc To what extent this departure inter
fered with the trading is disputed question.
Bat tle totql sales of listed stocks last week were
.26l, 2o6 shares, against 1901 81 shares for the
five daya of the preceding week. There were,
however. other influences which naturally caused
dulness or on activity at declining figures The
terrible calamity in Pennsylvania OF itself would
have checked operations for the long account.
Fortunately, IL did not brighten real holders into
parting with their securities nor encourage oper-
astlS for the short account 10 make serious at
tacs upon prices. Perhaps il the ticlSers had been
running there would have been q temporary de-
preston in prices As IL was. the market was
only dull with small fluctuations.
Another factor was the condition which railroad
rates at the West were represented 20 be in There
is no question that the Burlington nnd Northern
Railroad has taken advantage OF some unlmportaIlt
action OF tie 500 line again 70 renew the pur-
poses for which II was originally built. Neither
there any doubt that the seriousness OF the nght
affecting the general situation Is exaggerated 70
on the subject are rehnshed with predictions OF
trouble which moy occur nnd are sent out Tor
publication on Tuesday And 80 II goGs On t ,b h
sencr of the tIckers," the PENNSYLVANIA disaster
the Seattle fire. with the immensely exaggerated re-
port Of It's losses ard the sensational reports from
aytrted-so the rumor committee sRys-the prices
for the granger stocks are immaterihlly changed
from those Of o week ago The gainS are LA
7-s per cent, being about equal in number 70 the
As Chicago has been active during the week in
the market, 10 would seem that the re-
rorts were exaggerated for the purpose
II seems impossible 10 believe that after the ex-
pericnce Of the last three months, which has given
arge gninS IN met e%rRings Orsr tTs sec D1 r
possible TO believe in the face OF the present
prospect for o large tonnage that managers WIN
dare recklessly 70 repeat their operations OF 1883
Still il is never too early for the owners OF prop
critics TO call their agents 10 account. The gen
eral railway market which Is unaffected by the
conditions at the West, even II they were US bnd
as reported u:tuated much the same as sS d,d the
despite Fridays and Saturday. reactionnry move
ments. Among the transcontinentaI lines there
is little change in the final prices. Union Fncinc
shows gain of 5-s per cent; Northern Pacific
loss Of "a per cent, and the preferred gain OF
is per cent Oregon Railway and Navigation
on the declaration OF an extra per cent divi-
dend 70 be paid from the surplus IN the companys
treasury. aud the announcement that parties in
the interest OF both the Union IA Niiic and thH
Northern Pacific had aged that no attempt should
he made 10 reduce its rental below per cent per
annum, sold up Ella per cent 20 l0ol-2. and
closed az g7l-2. As 10 the lease Of the Oregon
Railway and Navigation Company to the Oregon
lessee, IL is difficult TO see how the rental can he
reduced except by the consent Of the stockholders.
The nature OF the partial Agreement between Mr..
Cakes and Mr. Dodge will not be fully compre.
hended until the results OF the Oregon companies
elections, which are 10 occur on the 18th, are
A feature of the week was the large business
done in the industrial stocks Among the unlisted
and nos included in our weekly range, National
Lead was dealt In 10 the extent OF over 900
shares: Sugar Refneries 10 over $4,000; and Cot
ton on 10 over 10000. These companies are
practical consolidation under one management Of
numerous separate factories. II is oaimed for
them that by the CON binatons economies in man
agement are secured which result In control o.
the markets and better profits without necessarily
higher cost TO the consumers. Az present the price
OF sugar does not seem 20 establish the Inst named
point. But 1t is urged That the short crops and
the higher price for the raw material would have
the price OF refined sugars more except
for tho existence OF the trust md It's economies.
BE that IL may, the unofficial reports land u is
t the sT objection SSs to o ,sf
conce rning the Sugar Renneries are that by It's
economies 10 IS making large profits. Certainly
last week the purchasing Of the stock from about
finances of the institution. Above that figure, up
to lo7 "a, the buying seemed 20 be general and
heavy reslizations were made down 70 Oh 81,
advanced from rs l-2 10 81. was steadily purchased
by insiders up TO about 30; realtZationk carried
the price back TO 2s s-4a29 Cotton Oh 1uGtu ~,
night at :-6. The -" knowing ones predict an
early dividend, but there is a conservative ele-
ment in thu direction opposed 10 the declaration
IL is anticipated that the company will have &C
. large cash surplus
Chicago Gas Trust Is not a trust under the same
conditions rs the other companies named. IL
holds charter under the general laws Of the State
Of Illinois 10 construct, purchase and hold the
stocks Of other gas companies and 10 supply the
City OF Chicago with gas. Under It's charter IT
has purchased the stocks of all OF the prior ca
listing gas companies Of Chicago and holds them
in It's treasury. It has reduced the price OF gas
10 the city to 81 and 10 individuals 20 81 %. BY
contracts with Of certoin oil and gas lands
in the State of Indiana, 10 will receive 81 per cent
Of the capital stock OF the Indiana COMPANY in
payment 70, the furnishing OF means OF dlstrlbu,
the Equitable Gas Company in Chicago are now
practically idle, it is anticipated that by early
autumn IL win be furnished In Chicago with
natural gas for fuel at the rate OF about 80 CENTS
per 1000 feet The company's books close 10
morrow for its first dividend Of per cent, derived
from It's profits Of it's present works. Outside OF
the problematical profits 70 be derived from the
supply Of natural gas It's policy is hencetorth 70
pay quartey dividends Of per cent toward which
II now has a large sum OF unexp nded earnings.
The stock last week WIS not particularly active,
the transactions amounting 20 only SO, 500 shares
hut from Mondays decline NJ IA per cent 70
81 "a IL rose 10 81 and closed AZ 81 1-2.
of shares sold OF all stocks the highest lowest and
final prices Of the week together with the final
prices OF week ago, prcnxed by the average prices
Of June 0, 1883: