New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-09

1877 for the A per cents and 1O4 5-S for the
l-2 per cents. This proposition SD clear
that it is surprising that anyone ever for moment
questioned IT,. We wrote several weeks ago, Wnen
the question first agitated that if the SecIe-
tary continued to pay the present prices for bonds
he was more likely to be embarrassed by inc
want of financial agencies remote from the SUB
Treasures than il was possible for the money
near it to be disturbed by calling in of the
deposits The notice for call, to be made Jan
uary ). 1890, for 10 per cent OF the deposits
amounts 10 81, 700. 900. During last week the
banks voluntarily surrendered over s3.50O,OoO OF
their bonds pledged TO secure deposits. AS was
anticipated the knowledge that depository banks
would be sellers of their bonds and the posi-
bility if not the probability. that the treasury
might thus he overloaded with offers stimulated
the selling by other holders so that the purchases
Of bonds other than those held for security
last week exceeded 81 100000. .oou
Nevertheless. the sentiment of fear
born of misconception was favora nnio tio 10
which was easily seized upon by stock
SPECTATORS and the Shylocks Of the Street 10
mark high rates for money. On Monday the f''es
at the Stock Exchange ruled at loaIo per che tbc
and were held firm at the close simply by me
withholding of large amounts On TUESDAY we
renewal rates were Sal per cent, Dut Delore .no
close of business that day money was III apunI,
dant supply at per cent. Since then the general
rate has been per cent, with almost oalN rN-
ceptions at and 4 per cent Yesterdays pdhS
statement represented the average CONDITIONS, Oh
last week and il under those CONDITIONS thhI
the money market steadily gravltated TOWARD
ease during the whole of the week. The so-caIed
snrpluS reserve which includes the reserves Oh
q II 700 CAPITALS of State charters, as wei as
s4S55O 600 capitals of National charters Is again
rcdnced TO less than 81 100000. A reference
to comparison OF the cnansfs ;oh
corresponding weeks IN previous years WIZ iast
* nrjpt@d above shows that the changes OF Iaso
week were those usual to the season OF the year
But last week there evidently were eNcep,loia a.
causes TO make the statement poor Que al the ne
COMPARED with the preceding weeks, such as s s.
return Of certified checks, the locking up OF wilon
tNyo weeks ago made statemer apparently laNoi-
able in reducing the deposits and not wltnurd"tHS
the cash while the return of the checks d9d.ii
increased the deposits, charging the requirements
of the reserve, as compared with that OF WEEK
ago. without adding a9YthnS To y ,i T,,ied easier
and notably so at the close OF the week, when III
London the open market rate Tor discounts wa" %
down TO 8 "a per cent, against the bank rate OF
< nor cent Both the Bank of France and the
Bank Of England reported large losses OF E oiu
for the week, but notwithstanding tlR IacO ulaC
the Bank of France now holds u .OOo0TU niU,9
than at this date in Ss6, and the Bank OF England
holds 81 100000 more, the foreign exchanges iEg
were unusually duh during the whole week. lnS
rates were reduced early IN the week, from Mii. T
there was little recovery and they closed loI
actual business on the basis OF - 80 Ia aIEi
s4 81 g respectively for long and short Sterling
RAILROAD EARNINGS.
The railroad reports of gross earnings continue
TO show large gains the corresponding WEN
of 1883 The Tribune has published the returns
of sixty-one companies or systems for the third
week in November, which show gains aggregating
sass S65. or 1O.7 per cent OF the total number
cnlv twelve returned losses, 1t also has printed
yct1rns for the fourth week of November Of
forty-onc companies systems, giving an aggre-
gate gain of S469,499, or 80 per cen'. mus
FAR only four companies have reported losses for
the fourth week.
The suboned tables divide the aggregates and diner
ences Of the companies showing gains and losses:
"a week in Nova d 1ss 81, 1d DheF S9s so4 Il
- compgnics.. S7G2i9 sl69l0 Dec. 59339 81
Total 81 co.'s 4s9 $50 $6o71 22i Inc. s5s8S65 lO7
4th in Nov 80. 80, 9, -
4 comnanies...- 5G6,i77 j29,S15 Dec 80 OO2 GA
Total al cos 81 500 o69 s. S3s s409.49s 90