New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-12-05

MISCELLANY.

"W. R. K."-Yes, You are correct in all your
propositions. The Cleveland, Cincinnati, Chicago
and St. Louis Railway Company paid only l l-2
per cent dividend on its common stock for the SIX
months ended December 81, 1S89-eXactly the
same as has been declared for the current SIX
months to end December 81. 1890. For the last
half of its year-the six months ended June ~,
1S9O-it did pay 2 1-2 per cent on It's common
stock. making 4 per cent for the year. Yes; II
the month of December proves to be as good as
was the month of November" the net earnings for
the common stock for the six months to end
December 81 will have been 1851, 607, or over $50
per cent on the capital stock OF $27,32o,ooo'
December should return better net earnings than
did November. The payment of ! l-1 per cent
dividend will, under your correct calcuiauoh'
leave S221 ,732 surplus carried forward into the
next six months, OF a sum only 2 $4,000 less than Is
necessary to pay the next six months divldend Oh
the preferred stock. But what has all this to 10
with present market values at the STOCK En-
change? A year ago Big Four common STOCK was
selling at 20; to-day, in the face OF Its iaVerSo'e
showing, which no one will attempt to impeach'
it declines from SO 3-S to 81 5-S ana CLOSES WIN
a recovery to 50 H..
London has bravely recovered from it's late
depression, which was due to legitimate CAUSES,
the complication of the Barring o ssE.1e ;n t na' situ "a
ton that at any time should have disturbed our
markets more than temporarily, penang an ca;
PLANTATION and a comprehension OF tne trouDis ana
It's causes. To-day the Bank OF England reduced
It's rate for discounts TO 5 per cent, wh1Gh Is the
same rate as it was q year ago. In Lonoons
open markets money for discounts Is below 4 per
cent, and for balances n below : . per cente en%l a
probable gold movement to tine Uni'ed o~'cs
What q contrast the situation in New-York pre-
-~-At H>~o <lonn 1aa loon M unusual trouble
that was not brought about by the employment
of artificial Methods question OF money ana
not of solvency, till the want of money forced
credit Of one Of the greatest firms IN the world.
Yet, while London knowing just S.rs what in Ns TIVE
York, where mystery still rules, the air continues
to be filled with ideas of some impending great
disaster. The changes In the current rumors ond
forebodings from day to day should be gathered
up and arranged in a financial Kaleidoscope for the
entertainment Of future generations. Yesterdays
failure of a woollen manufacturing company prob
But as it's insolvency. Is admitted by the president
Of the company, its collapse was due to a want of
cellatcrals and not to the inability, to negotiate
fonS enough to bring to light all concerns which
are so weak as to depend on kiting for a temporary
stay Of execution.
two or three Suggestions to tie financial institu-
tons OF this city. First, TO the banks who carry
merchants deposits and make to them loans. You
have voted in your Clearins House to issue an un-
able collateral. and at the rate Of not over IS per
cent on the actual value of such collateral. If this
public that {" there should be no forced ID liquidation or
Of any solvent merchants. Yet the idea has OBJ
tanned general belief that as a rule you are
loath to extend accommodation to your custom
ers at the expense Of taking out certificates for
the idea is prevalent, and not that it is true;
aon. are lighting sda 7 ;h against wasId the NE. greatest witns.s %dnlp Eiaher
meet the question fully. and bravely. and let
it be publicly known that every solvent mer-
chant M with proper co collateral Will be made safe
succumb at once to the speculative interest, and
shorten the agony. Be whole hearted. and thus
crush at once the Wall Street authors of all
these mysteries and miseries. Second, TO the
trust companies and savings banks. Sho through
fear, because of the mysterious disappearance of
money, have added to the distrns. by putting
money in their own vaults to fOrtlfy themselves,
we would suggest that a return OF such money
to the banks, where it could be seen in the weekly
statements, instead of hidden from sight in vaults,
would go far toward restoring confidence and
the influences Of the original lookup.
money could be returned TO the banks as
" special deposits, and thus, while showing that
the bank sIrplusses were all-suficient. be as safe
as the sums hidden in the private vaults of trust
and savings banks.
There were no new developments to-day in the
railway situation. but it is evident that progress
toward the establishment of a permanent peace
and of steady rates for transportation is steadily
being made.
THE DAY IN THE STOCK MARKET.
To-day's stock market was affected by renewed
rumors Of further financial complications. No
one dared to name the quarter or quarters which
were threatened, but there prevailed an indistinct
that either the speculative powers that be
were cunning in SOM new quarter for scalps, or
that the lightning was to strike some important
interest. Wall Street is so sensitive
AZ this time, that a whisper of " take care has
more influence than a volume Of favorable facts.
The cry now is. There can be no market till
time loans are obtainable, and speculatiyely it is
partially true. But that should not affect the
Lnvestment-b buyer, who b0rrows no money. When
the powers that be have accomplished their full
purposes, time money will be O drug in the market.
Now it is unobtainable, hence it is that among
it is only those who have fortified
with ready cash who are able to pick up
he bargains that are lying around. The market
dragged from the opening to the close, with
Union Pacific the special feature in the way Of
declines. Louisville and Nashville at ~ "a
d73 3-4s74 IA was notably strong. North
declined to IL 1-4dl1 Ia. There
s expressed much dissatisfaction by the outside
holders Of the stock that they are not as fully
informed of the cOmpany's present condition as
we're the creditors. No one is disposed 10 crowd
dr. Willard, but, as he has been home now q
week. there is much disappointment that no full
eport is yet made. The market closed weak, with
ONE partial recoveries.
WHAT WAS DONE IN BONDS
OF Government bonds only 81 900 currency 6s
4 1898 were sold. The nominal quotations re-
main steady as follows. |