New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-01-06

renewals Voluntarily reduced the renewal rate
| 10 - per cent. and long before the cloSc Vi
| business the rate declined TO per cent
Kut there evidently existed an angry dlspo-
| sition. something like that felt by malicious
boy after thorough caStlgatlOn 30, on Ihul S,
day morning the first blSneSSaay o. ui, mem
yp9r the more secretive but nov less lcei 'lni''c
method which has been In vogue lor Iic I"oO
three or four months was resorted TO- Inc Ia hui
over National Bank was not alone In lssune ctlo
for the payment OF its ca-loans, at Iatrr lhah
the unreasonable hour of IL 80 O'CLOCK for tilc
information of our general readers, !. may ,bo
necessary to explain that by lhe ruleS, vi t r
Stock Exchange loans made upon ITS MOOR 10.
anvbodv's account are "callabe only uo 10
O'Clock D. m but practice ana courtesy nav vi
tablished the rule that where 1t is necessary ~ o
loans then notice shall issue as early rs oIo
and only an emergency juStliics call as lale 10
that permitted by the rules III IS qullc ctai ' I
no such emergency exists Whcn, as OH Ioc
Thursday after having created Il lale dlst
in the money market the same none I tncb
called at IL 30 appeared Ill the Stock f.Ncl'"I-
at a later hour to be loaned at 4Oaio per ce"V
70 thc frightened borrowers. ;.I
The Hanover National Bank reports capl'2l
OF 81 600. 900 and a surplus of 81 ,2"3'9oO lo.i,
81 203 900: its deposits by YESTERDAY s'atei'nO
are Sl5I94,60O, and its loans are Slo'o2 o'o"J'
Hence it has 81 300, 900 of its deposits nnloaheu,
NOT touchiur its own S2,293,0Oo. Inc 'IliSc
Nationals capital is S50O:0oo ana us surplus,
1852 900: total, $l,252OOV; us aePSSlS G Gao
Hence il has 81 100000 deposits unlOaheu' HoO
touching its own Sl.252,OOO. Inc ll[st a.
tionas capital is $5OOOOo ana HIS Sulp orl
6Io 500 and its loans S2l.s49,oO0; so that IL
is really loaning about fSVV,gVg ~, pi
its own capital, and Therefore JunEcu pA 'ic
statements of the two preceding banks, must re
in a nrecarious condition; it only mas S1,SOO,OOo
Of its own unl0aneu. ,t r .ro 70
ported be well managed ana WoirnS VI "a
tionaI has a capital OF SJ,OOO,OOO ana surplus
of 81 63l 800; total, SO,03l1oO us GePoSttS ~
Sl5 900 900. and its loans are ','o-'oVJTW' -
9rtmaIl, leaning 81 500, 900 of its own Inc N"-
tional Bank of Commerce has a capltu ol
s. 900 900 and surplus of S3,2sl ,ooo; us ue-
posts 81 35 800 ana itS lo H., "t ,v, and
l0i 900: il is loanng 81. 900 OF us 0"N a1u
its stock sells close 10 200 per cent lhere c'I-
IDENTIFY is not much fear OF lack OF ,on'tI w.
tism In its management. although 1t u.s. H'' MA
tain - or - per cent for any oi us io'hS' III"
State bauk-thc Corn ENchangc-has caPiil OF
81 .0OO. 900 and surplus OF 81 oD,oV' '''lIi
g. 1913 900; its deposits amount ~ anu
n. Ioars 10 50 1i3.OOU. Hence II Is hallhS one
half of lis own capital and surplus, ana YET Inc
stock of the bank is 2i0 bid for. II Is Wes''
of time 10 hurl anathemas at corporate hS'U"-
,ions Thcv are sOulless: but IT. Is the MANAGERS
If thorn that make them what they are. ana theA
are entitled individually ana coleclNeN !" SUI /
credit or odum as attaches TO such maha-eui'H' !,
is not only the borrowers oil m9he} Mno "ar
interested in this question Of ie-IlHa'A '"
ucgitimacy in the management OF banks or t'is'
companies II is needless 70 suggest I" U'-
positors what would have been the result 10 NV
value Of their deposits If the methods employer
by few institutions during the last thTec or
four months had been the rule OF all the hnanchl
institutions In the city Of New-l 9rK. IN r lu'H
the money market closed normal AT y per cent
In London the Bank Of England on aS' mon,
day took the unusual but not unpifcedeniru
action Of changing its r9te Tor discount oi,''
than AZ the regular weekly Thursday meeting;
IN advanced the rate 10 Il per cent, ana sun
maintains IT, The open market rate quickly
responded by figures approaching Inc p.lA Il'V'
bur has since c-l of and closed ~ ! l.! per
cont II i generally assumed that the bank hal
i'm view an inevitable export Of gold 10 me hl'ed
States and desired before such a movement began
10 draw gold bullion-not French goh|irom
the plethorlc holdings of continental D3hH'
The foreign exchanges were demoralIIed hoth ,N
the action of the Bank Of England ana by me
erratic movements of money IN our own nalNei'
RIt before the close of thc week steady tone
prevailed and some recovery IN rates was maze
The result Of the weeks operations, wmch j.
due entirely 10 the Bank Of EnSIan@ acton is
reduction Of - cent between the rates Tor
lone and short sterling which closed respectively
at 81 30 Is and - Si IS.
RAILROAD EARNINGS.
The reports Of gross earnings for the last "'eNs
in the year maintain the same Ai-h poSili'h
relative 10 gains that they have done during
the last siN months. The tribune mas pflhfu
for the third week in December the gross earn
ings Of siXty-tve companies or systems WIIrh
return an aggregate gain of S6"'9,'' or l".3
pcr cent For the fourth week II has printed
the returns II seventeen companies or systems.
which give an aggregate gain Of S2lO,4l6. or 80
per cent. Notwithstanding that the important
system of ST Paul returned a loss OF S5l,232. or
nearly per cent The following tables divide
the AGGREGATES and the differences of the com
pancs showing gains and losses:
50 60 COW Isa a D. So +, el m. i92
u COM anc,...... 66O.lj5 - ioi Dec '+.''i H."
Total. % co.; *eI'7oeo so7-37o' Inc. $685. o751o9
- comTanc, $50 49, 81 so3 10 me- @253 rs ~
= ompanics..... 7~3,s-2 ,jl ico Dee. 81 - 81
Total. Il co., sei3i.i57 s96it573 Inc. s2lo.n6 So
TIE WEEK ~ THE STOCK MARKET.
Al the Stock Exchange both speculative and
investment buying was checked by the anona ,0u'
condition of fictitious money marNet ne
total transactions tor the five days IN STOCKS
amounted only 10 sol. 500 shares-'33.99S listed
and 155,9ol shares unlisted. Nevertheless Ge-
spite the manipulation OF money and renewal oi
sensational Western reports OF wars upon pas /
senger rates, the values Of stocks ar the close |
Of business yesterday generally were materially
higher than they were week ago. 'crlaulN' /
there we're no local Influences NJ work during the
whole week favorable 10 the depreciation oi val |
ucs probably such influences as were al work were /
created solely for the purpose OF causing repression
Hence such appreciation as there was must nave |
come from faith learned from studies outside |
the common talk and inspiration OF speculative |
circles.
As has been the case in every previous advance |
Il great deal Is said about the covering 81 |
" shorts" as a reason for the advance. 10 that /
particularly are ascribcd such advances as have /
occurred i'm the coal stOcS-1 per cent tor Central
OF Ncw-.lcrscy | per cent for Delaware, Lack /
awanna and Western ; - per cent for delaware /
and Hudson, and . per cent for Philadelphia ana /
Reading The indications are that the short IN,
tcrcst in those stocks, rs well as IN the general |
list is fully rs large as 1t was n week ago. In IA |
word considering the immediate local conditions. /
the market astonishcd its friends fully as much /
as IT, did its enemies The reason is that neither |
set of spectators appreciates the comparatively |
small amount of stocks now beine carried in
brokers Offices
Following is our usual table giyr the number /
of shares sold of ali stocks, the highest, lowest
and final prices Of the week, together with the
final prices Of week ago, preliNcd 10y the average
prices u January .. 1889:
RANGE.
ACTUAL sALss. lFnaLl
Jan. ,, Dec Total
;. High Low Final -
IlbS9.i est est Jan 1881 sold
Atch Topssss Is 3SS'H '3sl S55N 81: nI95