New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-06-16


the cay on which loans made at the Stock In
change not cailable until Monday. ana whea
the preparations had 10 he mace Tor the payment
of the 81 100000 gold Withdrawn from the AsSdy
Office tor export, the extreme highest rate was
- per cent As the money used III payment
tor the 81 100000 gold bars was wlthdrawn from
bank only on saturday of course IL Hnd nUC
figure In the bank averages for TIE week, pup
lished yesterday. But as the banks at the Close
of business Friday night held an amount oil
cash in excess Of the average OF the week. rs re-
ported III the statement, nearly cpual 10 Ihc
amount withdrawn for export yesterday, tne pdhN
statement very nearly reflected the actual con-
dition AT the close of business yesterday.
The foreign money markets last week rueu
firmcr, and in London at one time the rates Tor
discount of bankers bills closely Appropriated
the banks minimum rate put TOWARD tne ciusc
rates again were easier and seeming ~ tehdlhS
downward. The Bank OF England gold holiihEs
are now fl1OO,000 less than az date OF leSo'
but the ratio of its reserve 10 liabilities IS pfac
tically tie SAME Teing now 42.6', AGAINST 4?.o3
per cent Its minimum rate of discount now is .
per cent; a year ago it was IL per cent.
The foreign exchanges last week were molc
than usuaIly active and rates were advanced "a
fnll cent for sterling sight and cables Al tile
close however, there was am easier to tI !" buHi
nnss ON a basis of 81 81 IA and 81 ~ "a re-
spcctively for Ions and short sterling against
81 81 and 81 81 3-4 year aeo
RAILROAD EARNINGS.
"Tbe Chronicles compilation Of the gross earn
inrs of 100 railroads in the month OF May p'
f tSS Covering 90 only three weeks of the month
makes a remarkable exhibit The gain on 1 ner
month Of Nav. iSS" Is % no to,ol nnmher
AK companies return gains averaging lo'2 per
cont. and only twenty-five companies retuIi o on,
averaging So per cent. The following tnnt no ovil
mares Tie aggregates and differences OF companies
showing gains ard losses eoo D,norences pc.
-, Noun of M2s 7 g 2ao ss4 ia
$S Connani6s siG75Ii 29c5 go Dec 2o2-l4 I'd
ro,1oo ali775a So 2s7 Inc s5G iss 49, 49,
The Tribune has printed we GrosS systems Of
which only seven fail to return gains, Uhr WIN
GIVING rain of 81 GA 800. or II per CEN, ai"
Inc tL9t the average of the last week OF me n41n
LIZ ,it,le he.tcr than the average for the whole
month. 49,, .,,o cross oorninrs for
the first week in June of iiT," t SS ,snt Of this
,c,r oooinst - 3G1.2i7 for the week OF p
a gain of laO.G9G-or is per GEN., N Io,se s
total number only seven companies Icrn o,
oiroroncos IF the companies showing gains ana
losses: ,ooo riro~cncos H. g.
an wek in May, s 5ssG 80 s'9 Inc III oss $50
~ 1881 rs 26si9 Dec. d9sJ6 o.
Total 20 1870 o5 sS57 nIssa5 2ss II 40
g c sSHSans. :" @s5ca5 Dec. -
Total 50 cos - 361 "a sls51 s79 Inc ;l9o go li3
TIE WEEK AT THE STOCK EACiiAN"E'
The las, week was dull one at the Stock
i
listed aggregated only 96S.353 shoIts' "e'in''
1881 ,43O for the preceding week. ana VI 500
unlisted 2S6,joo siaIes, against tVo'l' "oi,i
total for last week. l,2JO,U93 Sh'I'e "-"II''
l135.g43 shares for the preceding "ch' A. -
a week in which all tne local influences cU'' ,i
from the bear side. Aside rom " ha, ,d
hesitation after the May ADVANCE III prices anu
desire Ia continue rcalzatonS oi plohiS loi DlV
bull account, the Chicago pesSiihNuc ma WIS
reorganlzcd, and recommended It's dIs'IlVulpH W
fatal news. There was much talk dn"H' 'I,, nm
probability OF an agreement between thc ho'Sc
and the senate upon the silver FslsmllVh' an as
the most damaqIng feature, TIE Lake NhoIe an"
Michigan Southern Railway Company c"hlIH"t"
10 cX nlbit a disposition 10 RIP ana year Td''" Oh
certain cases oil oaStbOuud laihc. without my NE
or reason Finally, GA IGn% 'TG , %Ilo Ia,
not Vet been satisfactorily explained, hlcd uic
cup Of disappointment Ia Overlooking. Inc IcaGIl
oi all TINS extraordinary labor is unnatural &c
clnes for majority OF the active Stocks ue'I,
lu First uuluess was created, anu advantage "i
that was taken 10 raid values. Inc IcsuIt III
It's dimension9 is miserable failure. Nil.e "n
this In progress there was cohtihueH s'edH!
investment absO ptIon Of securities Inc bdAN
statement in the contraction of loans not oHy
Tor last Wcch but Tor several preceding weeks,
fully establishes the last suggestion into au
absolute tact. No one Will contend that thc
mercantile loans are expanding with the enlar-c-
mcnt and steadily increasing volume OF business
Hence the contraction in bank loans Only par
tiaIly reflects the amount Of securities Withdrawn
from loans and absolutely paid for.
such difficulties as still remain unsettled among
their aggregate earnings. Inns j. show ~ tne
continued improvement IN gross earnings, as the\
are reported by week ana month, ana IL j. more
emphatically shown by the monthly statements
Of net earnings which show generally even
larger percentage Of gam tnan do The gross earn
iDas. During the last week the Aichlsons re-
port report for The month of April OF us whole
present system was made. showing gam IN mol
earnings of over S20I. 900. or over - per cent
Chrssa peake and Ohio shows gam for The same
month of SIC. 600. or 2O5 per cent; Chicago ana
Atlantic gain Of S?0,-0o, or over % per cent
and Flint and Perc Marquette a gain Of Sl2,OUu,
or nearly 20 per cent. hs real values al me
stock Exchange are not dependent upon silver
legislation. and only temporarily upon The spasIns
and changes of The money MARKET such returns
as are referred to above, are the qualities winch,
DESPITE speculation. finally rule The market NJ
urrs II has been such returns during the la'l
few months which have depleted Wall street "I
good securities and reduced the bank loans durlng
the last twelve months over S2l 100000. HE
market continues quiet. and II may remain so
,ycek a month or six months longer. But WIN
or without an active speculation thrr6 can be-
but one result 10 prices until there l. an cntlfc
change in The prospects Of the countrY's business
Silver legislation anil an excessive plethora OF
rnoncv NAV or max not start speculation when
will run wild hut with continued improving con
dtions values Of securitcs viii appreciate on Their
merits. exactly tho same as COS real estate VII -
increased rentals
FoIlowing is orr usual tahc. giving the mum
her Of shares sold Of al stocks the highest low
est and final prices Of the week together win ~"
FINAL nriccs OF q week AGO. prciiAed by tie average
prices Of June -. 1889
WEEKLY RANGE.