New-York tribune., 1890-06-30


which over 81 600. 900 was not an abSorptlo!
from general circulation, but WAS made 0y addi
Iional coinage Of standard dollars.
In the foreign money markets the genera
tendency, except at London, was toward easier
rates The Bank OF England advanced its rat
Of discount 10 per cent. although III me WMce, w.t.
il gained 81 49, 900 bullion, leaving It's hoiiinss
of gold at the latest date f2 400. 600 less tnan al
date $50, but only 100000 less than at da'
1883 On the contrary the Bank OF France now
holds 81, 500 900 more Than II date OF lsso anu
Is 900, 900 more than at date Of 1888. The I'm
pcrial Bank Of Germany is short clOQ",OUp rom
! 1850 and $4,000. 600 from 1883. 1he banE OF
Engands proportion of its reserve 70 us IA
bities has fallen 10 &C. So per cent, against a.
per cent at same date in 1880, and against 432C
per cent in 1888.
The foreign exchanges ruled dul. and rather
weak for the greater pnrt of the time the effect
of the advance in the Bank Of En"land rate was
divided between an actual decline III the rates loi
long bills and an additional hrmneSs Wl'hou,
change in quotations, for the rate Of cables an'I
s. a0sa 1. pa and s. s. s. M respcctivcy for long and
short sterling.
RAILROAD EARNINGS.
Although railroad earnings are now comparing
with the period OF $50 when they were making
favorable comparisons with the preceding year,
they generally continue TO make comparisons
hardly less favorable than those Of an earlier date
The Tribune has printed the gross earnings OF
SIXTY nine companies systems for the second
week III June. giving an aggregate for the week OF
S6l72,S71-a gain OF SG6O706, or | 10 per cent.
OF the total number only eight companies T return ,t
have printed the returns of forty-fve companies
for the third week in June, giving an aggregate
of 49, 17S. .jS0--a gain OF S5O4,130, or S2 per
cent Only six of the companies have returned
losses.
The subioincd tables divide the aggregates and
differences of the companies, showing gains and
losses
q SSST So%onits m "ne $50 cio e5 Inc $6so
companies. s7S,l19 S374s5 Dec. 3'o34 Al
Total 90 co.'s IS 5l2 1O5 &Gl72 s7 Inc. 5000 700 llo
% % TSGS in June !:ss 50 ases nc Dssacas ts
companies...... 9asIs6 5cs Dec 597is 60
Total 40 cos 4os $50 t8,77s5so Inc. s3c4 79o
The May report of the Ncw-Yorl1. Lake Eric
and Western Railroad is published below. The
company is stir applying portion Of il earnings
TO betterments. etc, thar gain III the gross
earnings for the month OF S}14.i34 because of
an increase in the operating expenses of S232.G6l
returns gain in net earnings, after deductions
for proportions due 10 leased lines. of ONLY $40.
213. pom tie same basis the net earnings o..
eight months Of The company'S fiscal year amount
to Sl,7o5c2l-2 galn on lss9 Of 500 3@6. n
laneous sources. which are not included in the
monthly statements the net earnings for the
eight months are 100000. or S22o,o0o more
than the sum required to pay years dividend
on the preferrc! stock. Tie increase in net earn
ines for eight months alone is sum sufficient
10 pay eight months dividend on the preferred
stock
TIE WEEK AT THE STOCK EXCHANGE.
At the Stock Exchange last week the business
generally was confined 10 the Transactions of
professional operators. There was the usual
apathy that generally precedc' the approach of
holiday and Of midsummer settlements. Other
wise the influences controlling the market were
purely OF local character. or perhaps we should
the interpretations which were accepted by the
market. Predictions Of a stringent money market
over July were numerous and pronounced
The scandal connected with the management of
the Chicago Gas thmpanY and the Use of
court 10 further manipulations was perhaps the
most important feature of the week. To laymcn
il is incOnceivahlc that Judge, who. upon the
Of an alleged stockholder OF ten shares
and after hearing the case. and after mature
grants the petition for the APP
upon the petition Of the same complainant, with
none of the conditions changed from what they
were when the receiver was appointed, close The
case by dismissal of the receiycrshp To the
mind il is apparent that either there
was no occasion for the original appointment of
a receiver by which several millions of dollars
sons. or that something more than tie mere
petition of the complainant was necessary for ,tne
dismissal Of IN" rcccivcIship; probably ne iA-
nois courts have never struck n heavier blow ~
the stability OF foreign capital Invested III that
State than they have done in Tins htil" IniN"r-
able petty case Of pretended holder ol ten shnIe'
of stock onf Of the 10000 shares Of stock prin-
cpally held hy Eastern capitalists. That there
is connected with the operation n scandal OF the
largest dimensions is unGu9siionrl by any s1ne
man Perhaps an investigation n some power
similar to the FaSsett con mtter might develop
who the generous "Godfathcr IS in thl, case.
This scandal. while not succccdne ~ de'noml/-
ing the general market. unqucs'icnab'V lent lis
fair proportion toward creating hesitation and a
lanruishinc Of confidence.
The Illinois Central strike probably WAS with
ont any effect because il was believed from the
first TO the end 10 be q movement which would
os il did do speedily dissolve Itself. The ani'ci-
patton that if money did become stringent hciorc,
affect the price Of stocks naturally
withheld bnvcrS Of all CLASSES from the market.
The Sugar decision in the Court ~ ApneaIs was
without effect. because it had been discounted.
few people making any OuestiOn about the fact
that the North River Company had forfeited
It's charter-but not its property. Further. i
was developed before tho beginning Of last week
that the fluctuations in Sugar certificates had lost
their influence upon the general market.
And after all with Chicago Gas contributing
SO 600 shares more than any preceding week,
Philadelphia and Reading 10000 shares more
because of a settlement connected with Mr. Cor
hin's resiCnation) and Sugar $1,000 shares more.
the total transactions Of last week agsrrrntcd
9js.Soo shares in the general maTket ana -
o31 1s5 shares. only 19@.311 shares more
than in the preceding week. In the genera mar
kat the fluctuations were only OF an Ordinary
character and the final changes generally are IN
significant showing that all the efforts made for
depression were futile. and that the armor alleged
to have been put on last Monday morning IN
preDaratiOn for the FRAY was OF IlGnt Nel@hl.
Atchison and Missouri Pacifc. after sustaining
the first attack We're marked features In devcl clop-
inq strength There is no doubt that negotiations
are pending calculated 10 bring thc@e two systems
into entire harmony. and 70 establish stability of
rates which will nc no less beneficial 10 the pub
lie than it will 10 the two comDancs concerned.
With tomorrow the month Of juno and the first
six months Of the calendar year will close. VI
the Stock Exchange the month Of June has wit
messed some material reactions in figures from the
extreme advances Of April and May. 8ut it has
bccn month of dulncss in transactions rather
than month Of Oppression in valucs. The
eolidity of the market has been thoroughly tested
II has been proved hcyond question that the car