New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-03-04
THE FINANCIAL SITUATION.


interests and dividends passed without causing
even a furry in the LEGAL money market On
one day some considerable amounts were iOaheo
on call at as high as per cent but inc average
of the business on that day would hardly exceed
> rcr cent and for the week II would be
urdrr 10 per cent There is no change IN the
timcloan market. lenders being more anxious IMAM
borrowers TO arrange lot loans maIuun9 ~
lutr fixed date Notwithstanding that the New
Yorl, Sub-1rcasury paid out during the week
81 900, 600 for purchased bonds. us net aDsorV-
ton from the banks was S3,7OO,OOO. lnGIuuh3
rrritfances TO the interior. IT IS probable that
thr hanks actual loss during the week nearly
&c 600 600 cash The effect OF this loss on Inc money
market such Us It was was felt when II was han9'
and the bank statement rrlecung past co x.
ZION should have. and rr h Wy will have, no feot
unon money rates. The .casury6 disbursements
for interest on the % per cents were not mace
in tine at all to affect the bank averages. Ana
T. is probable that some OF the money sent away
last week tn meet March payments VIII he re-
turned early this week.
The foreign exchanges dull the week
through. with little or no chiDs for current rates
for business which closed upon basis OF
81 sc IA and 81 So "a respectively for long ana
short sterling.
RAILROAD EARNINGS.
TIL, returns Of the net earnings for railroads
during the month of January are making nov only
favorable comparisons with January. less, pub
also with the month OF preceding years. Ot twen-
ty-twO railroads which have made returns, ana
they are scattered all over the country, Only i've
ccptonal reasons last year made extraordinary
gains for the month.
The Tribune has printed the gross earnings for
the week in February of filty-one companies or
systems OF the number, thirty-vc have returned
gains on the week of sss, averaging lHl6 per
cent, and sixteen have returned losses averaging
S.26 per cent; the whole showing an average gam
of g. - per cent. The subjOned table divides the
aggregates and differences Of the companies SHOW
Ing gains or losses.
81 week IN FEB lsSS. 1880. Dtnerenc3e', Pc;
G5 iSi%2s9 Dec DS '' sS
Total 81 8so $50 cal rs Inc, e2oio4s- e.77
TIE WEEK IN STOCKS AND BONDS
At the Stock Exchange and at the offices Of
large dealers the business done in railway bonds
last week fully up TO the average OF rny
preceding week. Investors are finding 1t dhcult
10 secure the choice securities Mt rates winch VIII
pay them satisfactory interest upon the invest
ment Therefore the disposition to take little
risk in purchasing securities which have not the
reputation OF being gt-edged is rapidly lncreaS-
ing 1t is not at all unlikely that in the near
future investors who heretofore have MADE pur-
chascs of only railway securities VIII De forced
TO take the trouble of investigating the character
Of securities offered upon other enterprises:
Abroad the securities Of consolidated lnhnuiactuf-
ing interests and particularly Of brewcrles, Tor
some time have been favorites WITH investors
H. would seem as If things were rapidly drifting
tOwprd Ike condition in this country.
Tho stock speculation during the week was
irregular and unset led While for the oregon
systems and Union Pacific there all the time was
"A steady demand. which was little influenced by
the raids made upon tho general market, the
old IA vorites Of the speculation early in the week
were sharply depressed. 1t was the same OLD story
over again lies travelled a league while truth
was putting on its boots. Chicago ana It's allie,
in Ncw-YorlJ did not fail to circulate all the rumorS
possible that Were detrimental to the properties
included in thu Interstate t1lwaY ANNocht'3h
A local paper without name. has become the
fnvoritc authority for the Chicago rumor-mongerS
And. on that authority. whatever IT may lie. the
false reports Of the condition OF affairs are for
warded 10 New York;
II. was "A local Nrw-York paper that SIX or
eight months ago continuously affirmed that the
Ncw-York. Lake Erie and Western Company was
about 10 issue Il new loan for 81 0,OO0OOO. Since
President Kings denial OF the story, over. his own
signature, " the local paper has had little TO say
about the New-York, Lake Erie and Western Rail
way. We commend TO the Western presidents
who are not in league with the Chicago stock
spectators, President Kings example The
stories are so well drafted that they were not with
out effect in checking purchases OF the Western
stocks: so that with some selling and more
matching orders their prices were marked of It
an average Of about per cent The stock lon
market reflected considerable increase in he