New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-16

has been called to this fact so frequently thar
ii is ineXcusabe longer to make Such mSleaulh@
statements the one to when we nave EeIerreu'
The " surplus" reserve even when strictly aP
nlied 70 the National banks, is IA bugbcar when
now he's no further use except Tor speculative
purposes. 80 au oil .hro,,ob
thn ,ccclx but rates ruled firm until the la'p
dav when, without qnotablc change III the
rates. they were easier Tor SaluIuhl suppl
mcntlry mail. The quotations Tor actu'l DuSlhrsS
closed ON the basis OF about 81 81 - and "a oS
respectively for long and short sterling.
RAILROAD EARNINGS.
"Thc Chronicles" report of railway gross earn
incs for the month Of August includes lao com
pancS OF the total number companies
returned gains on the month of August, 1855
which average 1919 per cent, anu twenty nine
other companies return Losses when average
10 per cent. Al the companies give an aN'Ia.'
cain of l q per cent. and the month Of August,
IsSs returned y small gain on the earnings %
fbp month of 1887. The following table divides
the aggregates and IN" differences Oh COMPANIES
showing gains and losses
Month Of August. 1sSS. 1850; DlBheetennCee: p,
10 % com com S75$55 8oa3 rs Dec. 1880 100
=, 40 GOSSIP 129oco s3c7c0e07 Inc ss97o32 Io1
Tho Tribune has printed In" gross cornings
for the first week in September of fOrtN-S-Ycn
companies or systems which show an average
gain on tn corresponding week OF 1898 OF 90
ppr cent. OF tie number thlrtN-tNo companies
Lovc returned gains averaging 1i.S per cent, ana
fifteen others losses averaging 60 per cont ne
following table divides tn aggr gates aaj di'cr-
cnccS of the companies, showing GAINS aud InSSS
st Sg,S IN sep s ~ 81 os Inc eI2ss& rs
IS conipanics.. 1880 O790G) Dcr. 5000 60
Total Al com'ss OiG 7G5 fiS95,o9s Inc 434s 333 sc
THE WEEK n THE STOCK MARKET
The stoc, market last week WAS less active
than i'll the preceding week, rs Is rejected ny
transactions aggrcgdtlng LIS JOS shares, a-n'J
lJSG3OJ Sla.,S lur the lNc days OF tn pre-
ccding week A>id" from the natural inclination
10 realize profits on the advances accrued during
preceding days, the condition OF IN" weather
during the whole was adverse to an active ptcda-
tion. Bat beyond that was renewal OF the
reports OF reduction III rates amongst the " est
crn railroads. For the fourth or lltl tiin' uic
Chicago Burlington and Northern Railway gave
notice of an intended reduction IN It's rates
between Chicago and ~. Paul As has been the
case heretofore this notification WIS accompanied
by Chicago predictions of complete democrat
ization of rates all through Iowa and as lar
West Marshaltown, and probably DeN Molh"I
and that railroad men concedc that, IL TINS
is DONE Missouri rates Will go Ia pieces
The phrases quoted seem % nave pcC"lhc
stcreotyp ped, they were quickly recognized by
readers Yesterday rs old friends returned. II IS
difficult to conceive Of any reason, other than thlt
born Of SpeCu htiOn. for these repeated demon
STATIONS by the Burlington and Northern manage
ment. and the sanction of them by the burlington
and Quincy mana cement. The Chicago Burning
ton and Northern has made monthly statements
for seven months ended July 81. During the
last seven months. with only moderately decent
against only S13.jJ4 for the same seven months
of sss. The sensational rate which il several
times has threatened Is rate that would hardly
pay for its axle grease: and thcn fore th' more
business il should obtain at it would only hasten
It's progress toward reccverShip. 1t seems TO
be impossible to believe that even the bondholders
would not quickly interpose to save their interest
Yet about every ten days or two weeks this
farce is reproduced, and Chicago claqucrs are
ready to cry Themselves hoarse over the pro
Spcctivc' ruin of all the Western railway system
Cf flap ngfI ion of a
in year only about the monthly earnings of the
large companies and owning a road 362 miles
long. il was that which was the principal factor
working for de preston during all last week. It's
real effect was limited 10 sEccliing purchases and
to the encOurag cement Of selling for the short
account. While the market closed the week Win
prices in some instances l l-2a2 per cent lower
than the best figures of the week, the final changes
are generally mmbortant and in many instances
do not exceed the fluctuations OF single hour
I in an active market
The movements Of the week have only fur
niShed additional evidence that stocks generally
are not held on speculative account and that
brokers Offices are not carrying then to any large
extent upon margins. Considering the advances
that have beer made before in an active Spccula-
tive market. such reactions rs did occur would
have been considered as only natural in clear
sunShiny weather and without a single cloud
upon the railway situation.
The conditions which make prosperity for the
whole country and for the railways despite spec
ulativc mana gpmcnts, grew brighter each day.
| The bank exchanges. the better demand for raw
iron and its finishd products. the unusual ac-
! tivity among merchants in all sections Of the
| country and the absence OF frost till now nearly
! the whole corn crop has passed beyond danger
| from il. all 90 to make up conditions bright,
if not brighter, than ever b. fore were offered Ia
! the American people. The stock Exchange Is u
very small part of Wall-St, Wall-St. Is very
small part Of the State Of Ncw-l orll and the
State Of New-Yorl is YET smaller part OF thi,
great and expansive country. The United States
Treasury neither receives pays ont the larger
part of It's money at even this financial centre
but the money which il dsburSes through the
West and through the South is so much les
money required 10 be taken from the Eastern
| cities for the purposes Of crop movements
| Following is usual table, giving the number
of shares sold Of all stocks, the highest. lowest
and final prices Of the week together with tht
final prices Of a week ago. prcfXed by the average
prices Of September D. 1888.
WEEKLY RAMON