New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-02-04

The bank exchanges az tho New York Clearing House
and the stocks sold the NewYork Stock Exchange for
the week OF three years compare a. follows
Feb s. 's7 Feb. T. 'Ss. Feb 2, 80.
k5eh s5, Soc; 252a2S scio 90 gig so1 3
THE FINANCIAL SITUATION.
There were no changes in the monetary stua-
ton last week calling for comment Money con-
tnued in abundant supply at 2 per, cent for call
loans, and 40 3a4 per cent for time loans, accord
ing 10 the character OF the cOlateralS OHercd
The short furry which on Thursday certainly
advanced the rate at the Stock EAchange from
20 4 per cent was OF so short duration as 10
require no searching Investigation to explain IL !;
the business Of the day, practically, was over ana
lenders had retired from the market: few be-
lated borrowers requiring small balances found
no offerings and advanced the rate upon them
selves until lenders returned. 1he aggregate
amount loaned above per cent was insignificant
aud before the close large amounts were offered
az 2 IL, and might have been offered at per
cent without finding takers.
The steady decline in the rate for money In the
London open market had loresh1dowed reduc-
ton in the Bank Of England rate at meeting OF
the governors last Thursday; the iale was re-
duced 20 per cent. The elect OF TINS on our
foreign exchanges was 90 weaken the rates for
short bills, while those for long bills remained
unchanged The exchange market was dull, how.
ever during the whole week, with the supply OK
commercial bills fully equal to al dgmands. me IN,
markets cosed barely steady, w1h the rates ios
bushes, on the basis of 81 SO IA and "a IS IL
respectively FOR long and short sterling
RAILROAD EARNINGS.
The weekly report OF railroad earnings con-
tinues 10 show gains on the good earnings on last
year with very little increase ln dhe I'M n Sras
earnings Of sxty-siX companies or systems Tor the
third wecl, IN January. Out OF the total mum
her only fourteen have returned losses IIom t1c
wool. III Ibs8 averaging 0.04 per cent while
0fty-tyvo have returned gains averaging 1891
per cent. The following table divides tbe az
gregates and differences OF the Companies sHV"-
ing gains and losses
Tb,rS ,reer m jan ISIS. 1850. Differences. ?; g;
% eompanies e. se2 Sls s. 1892 s InC as sol
Total &C 200 sss755O5 Inc sl75.so5 1898
TIE WEEK IN STOCKS AND BONDS.
The bond market continued all last week 10
lead in the speculation az the otock I-AoI Ia.s
The demand had grown TOO large TO DC lOhser
handled over the counters OF three OF TOUR naeins
banking firms, and IL broadened out so as 10 In-
clude issues which, while perfectly safe, nave re-
NAMED for a long time stagnant az unchhhseu
quotations With the greater demand there came
advances in figures which induced Irvg Ia ~ sn
on the Dor, OF holders, who thus were lea 70 seeN
change OF investments. The rapid accumulation
OF wealth in this country, winch Is equal uha tL
existing laws 10 proporuohate ltGrease III t IL
volume of legal money, finally rs bringing I'M
public mind up 10 the idea that all that hetealtet
can be expected from inv cstments when tedulro
no further labor than the cutting OH OF coupons
and the collecting Of interest Is . per oclo PSi
nnutm Hence the demand has turned TO Sc
curitics OF fair credit which az present r ates
return that rate or higher one. lne i"so ~e 49,
vi lta1.
probablv the beginning OF developments, With
long hay g been foreseen month ago os noLel W
announced il as fact that the larse Va . S
were securing the markets oil tnc COuhitty -
large blocks OF bonds 10 meet the delh"hdS 1laIe
mon them 10y investors. Only YESTERDAY, Maltlnu,
Phelps a Co. advertised for suDscr PIi9 9. lEt
e. F6O 600 East Tennessee, Virginia anu ueorSia
Raiivav Der cent gold bonds NJ 20; Inc Julius
we're all taken before the close oil ouslleSs YES
terday. .,io.ioD oinnlv fol
1o,,cd tho bent given il by the investment uehHhu
for bonds The change IN sentlIlcnt M"S n ni'
seen in the abandonment OF pea 1Sh
than in evidences Of DuIl,sh pst 80 btain
desire ON the part OF both interests 20 ooullu
stocks without enhancing yalnes was phluI. W.
dent During the early part Oh the YVES N, 'nS S
market was subjected TO the on; mo-n S ,I iH ~,
TOO many railroads in the business OF the lnl-
nossibitv of the gentlemens agfe3ineh1 prov
ng 10 be Of any value, If IL were nhauS slgneu, W.
n q probably would not be- OF renewed tullots vi
rate cutting and the Atchison statenieht was uuls
criticised from all the possible points OF dOuDt ana
interrogation To give bulIsh eheoe 70 the
Atcbison statement the price of that stock on
Monday morning was sofa 9 IT,n beors organs in
York, and TO z in Boston. Inc Deat orghn I, "a
their weekly Articles Of week ago VIZ S a
gOicitOus concerning the disastrous ehTels VI Ut
tain developments yet TO oe Haue roaI, 20
create or add 20 distrust proved iuule., buying
demand appeared in the market when was onl
seen in It's effects. Stocks were aDsorosu aC tly
Offering prices, on very small CONCESSIONS anu
ouiclxly rebounded in values the moment that
particIIlar class of Offering ceased.
Not Till late Wednesday afternoon ana the ap-
pearance Of the marked change IN sentiment as
sumo such proportions as TO attract general al
tention Since then the bears have been on the
run: to what extent they have been successful IN
getting out Of the way viii be more fully de-
r-his mrcb bo,yever must be said, that neither
buyers n5S FOR for the the long or short account have
crowded prices. For so long time
the average trader has Oeen educated
cent must not be lost that there was continual
liquidation which kept fair supply IN tho mark
cts at current figures. The change Is not one III
tbe general business situation, nor in railway
-, M - ,s.s. - boon larqe All thp time