New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-07


then was no palpabc evidence OF wltldraNdi
and locking mp OF money. Every one was SUI,
prsed on that afternoon that the late usuaI
Of funds seeking employment AZ under Iesal l"'o ,
had suddenly disappeared. and that nothing o,e
an advance TO 20a30 per cent rates caiieu ."c
money back into the market. YESTERDAY o a1,o
statement seems 10 explain the mystery. ING
operations Of the Sub-1feaSurY for the week chueu
Friday night, which covered receipts for exchange
upon Southern and Western Sub reaSllrles To use
amount Of s4,S1S,000. ana for gold aI"n
from the Assay Office for export 10
the amount OF 81 ,J32. 900. il total OF s6,4l oVOo
taken from the banks and the payment OF 81 oty,
600 for purchased bonds, resulted IN loss 10 tIe
bank Of g, OPS 900: that is the Treasury recelPS
from customs, internal revenue etc. added TO tue
unusual receipts named, exceeded us otulh"iS
disbursements, including purchased bonds, Ohly
S2.O26, 900. II is known that rhe receipts rom
the West by express, which went INTO the r,
during the week. exceeded S2,O00.O0O. mus
known receipts about offset known sIileils , %o,
exports. The bank statement OF yesterday SHOVEL
loss from the preceding weeks aNefagcS "
$500, 900 cash. If on Monday -, 900 casn
had been withdrawn and locked up WIN u saie
deposit company it, would be reflected ih NV
bank statement by figures appr0NlmatlhG lht Tvs
in cash reported by the statement. IbcSe aIc ele
simple facts in the case, and each reader VIII ~
iuryman unto himself upon the question "netI,l
or not 80 900 900 cash was withdrawn from DahNS
only last week for speculative purposes. ,tal,
On Monday some balances were loaned ~ mn
as 20 and 80 per cent on Tuesday rs hiHh ~
I6 per cent, but for the remainder OF the week
- per cent was the maximum rate made IN Int
Stock Exchange. These figures. however; 40 noo
REPRESENT the condition of the money market on
single day. Probably on not one day was 'hc
average of new loans ana renewals ~ hlSl 10
per cent, and then, again. tins DllNlhcSs a n
at the Stock Exchange probably does IoI ~
thr rate of the week for per cent OF pfoh'rs
standing call loans. Respectable INSTITUTIONS Scu-
orally marked their customers mp 10 p per rrm,,
but we know Of loapS 10 a considerable aihoun'
still standing at ) and even at \ per cent -
The Treasury in the week ended FRIDAY hlgh',
was able TO purchase only sl,01l,G0 bonds AT
its figures probably because il was 50 wei uhdcr-
stood that the monetary situation To when we
referred was entirely local and manipulated Tor
speculative effects But yesterday 1t secured
1884 45O Of per cents al J =, ana S''Ooo ,.,i
at 100 "a: total SJj9,4j0. We have Ht,Ie
faith in the reported rumor of negotiations oei
tween the Secretary and an institution iephted
TO hold some 81 100000 oil the pohuS; pc,nus
the figures at which the Secretary WQnld accrpU
all bonds offered are well known and those neIrc1
are so high that after having cN'apIs13IIl
them we deem IT, 10 be lmploPappe
that he would show favortlsm even 10 mree noiu ,
ers at II time when the mercantile interest Is hot
being DISCONNECTED by local rates made Tor money
at the Stock Exchange. Still, we have no doubt
that anything approaching real StrihSchcy COM
ing from natural causes would supply the Treas
ury with all the bonds 1t is Wiling 10 purchase
at its present figures
II makes no difference for what purpose the
cXport last week Of II .j00,O 900 gold was made
there are people who still, Notwithstanding en-
plantations believe that it. was maze Tor elect
upon va ues at the Newl orll Stock ENclange-It
Sl.DUU
market that naturally from legitimate demands
was working firmer. But that small export dc-
yelOpcd a condition Of the foreign exchange en-
tirelv different from what II had been represented
TO he The movement entirely demorallzcd the
foreign exchange market so that rates declined al.
most equal to the declines made IN good stocks al
the Stock Exchange. We quote offerings yeScr-
day on the basis of 81 50 and - 80 IL. against
- 81 3-S and - So Il week ago respectively for
long and short sterling.
RAILROAD EARNINGS.
The reports of uilrOad gross earnings continue
70 make remarkably favorable comparisons, not
only with last year, but with the returns OF ] ~ q
II is noticcabc that in almost every instance the
figures now given for the periods of lsSS afc
greater than the estimated figures published
year ago 50 that the estimates of the current
business show smaller gains than they would show
if compared with the estimates of a year ago.
The returns for the third week Of September have
included cighty-fOur roads, showing an average
cain on the week Of SS4 of $40 per cent. The
Tribune now has published the returns of thirty
four companies or systems Tor the i0nrih week III
September, showing nm aggregate gain on the
week of 1888 of S3i0,J09, or S.54 per cent, al
though the important road of Chicago MIlwau kec
and ST. Paul returned a loss that week Of 50 $40
OF the total number. twcnty-cght companies ~
turning gains show an average increase Of 11.94
per cent, and six companies, including the 81
Paul, have returned losses averaging 1903 per
cent.
The subioincd table divides the aggregates and
4th week In sept lsSs. 1889. Difference. T.. 6.
~ =? S2iJTi ',2i7 ca inc Si22 % li9l
compaGics..... 1l6l,7Si LOSoOi@ Dee si,7H 7o3
"a ol-T -gtg gC Inc. afsn "a