New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-08

."" % VI Ao shr'N y"
that the rev !esal-tendcr Treasury. notes issued
against the purchase Of silver will not remain
in general circulation. Int have immediately
ioatcd back to tie Treasury. This, instead of being
n source of wonder. or calling for any comment, is
the most natural thing that could possibly hap
pen. AS y"t tn" nc% currency, is issued only in
notes OF 500 and 81. 600 each. All drafts for
the payment Of silver. no matter whcr" delivered.
arr made upon the Sub-Trcasnry at New-iOrk, and
therefore ii alone is the original issncr of this
new currency. Naturally. it goes Immediately into
the Ncw-fork banks. and as naturally, because
Of the size of the notes. being useless for their
counter business, they pay il out on large checks
which are drawn for the purpose OF paying Gov
ernm"nt duties. and thus they have found their
way back 50 quickly to the Treasury. iHnt en-
crpt for their Issue the duties and internal revc-
nnr would have hecn paid in money previously
existing. In view Of the fact that tho new
currency. when orcr issued. became a permanent
addition to The legal money in the country, it
Icmark upon the fact that s.. 100 out of
So. sos, 900. which had hccn issued no to August
"a, hal ben paid back int" the Treasury in
li"u Of gold certificates. or grrcnbacks. or old
silver certificates. which would have had 10 sup
PLY the payments il these new notes had not been
handy fer til" purpose; And il is now made 10
seem still moro ridiculous by Yesterdays Treas
urN statement. which reports the total issue lcX-
elusive of Nrw-iork's latest report to liz Si.11S.-
600. while tho sum en- hand in the Treasury. is
$40! ,loo-a sHin to III" Issue Of $500, 600. with
only $1,000 additional. returned to the Treasury.
The figures of yesterdays Treasury settlement,
given above. probably nearly approximate the
~ '"'i ''''i'I' VI ~ 'NS HUt 81 Wv u-p.
While they reflect only n small part of the cash
paid oUt by tie Sub Trcasarics for bonds during
the last week. OF the S!,l2:,6 600 ! u per ccais
offered 10 the Treasury rnlrr the call Of August
20. il seems HAT abOu; 81 200. 900 have been of
h"n!S held in the Treasury TO SECURE hank not"
circulation. The general movcmcn, Of bonds 10
the Treasury has been slower than was aniici-
patrd. but nevertheless il is probable that tn" rX-
traordinarily favorable terms offered will bring
in The full amount of $50. oo".ooo. of which only
about 81 800 900 more can bc of bonds deposited
10 secure ciTcuiati1n. without otter bonds arr
substituted in 'lcir place: rs tic limit Of the law
for reducing National tan!; circulation is S3,0oo,-
Iy a Treasury cir"nlNr Of y~cst"rl ,y's date the
offer is mad" 10 prepay one years interest upon
the outstanding 4 per cent bonds, Of which 500
ST 400 are registered. and SsO,j?H.3jO are COW
ron honds-total, *is6.3s4.Gj0. For the int 'r'st
on registered bonds dnc Jauu Try l, April l AID
July |. 1871, aprlirat:oA may he made at the
Treasury or any SHh-Trpasury from September 10
"a October 10. IT." books of the registered bonds
h"irs closed. the interest due on Octo-
Der Il: i>@o. will 1" paid rs soon
about The 80! inst. Holders Of the coupon bonds
riay obtain the cash on Il" four coupons-Octohcr
/. ls"c. = july |. lsWl-"n presentation, on or
after "Wednesday. September 10. Thus the Treas
nrT Oilers now l'irscatcd /" the public are 10 H.
Gccn $l6 .Oc0. 600 more 4 l.? per cent bonds, due
September !, ISL, AZ lo4 II, and TO prepay or"
,clr's interest. amounting to S?3.;j5.%sG. On IL"
entire i,,Nr OF / per rc!t bonds. The proposition
is. as soon as prlctc;.lic AMI permissible hy The
capacity of tie clerical force. I" pay out If the
-. .clSllrt Nlu. VnO. UUO. III aulltloN 10 tUlS. IncTt
viii he continued the monthly expansion Of over
81. 900. 900 Dc" full legal tender notes. which IL
80 luucll al:cd &c tl" GChCra. circulation. whether
or mol 'iry happen IN 10 lIid ,'!c& IL ia" treas
ury, irstead Of employing the old money for that
purW -.
base their calcrlt,ions Of the immediate future
Of The monetary situation. il either inSurrs rN.
IRENE cas-" ~ n period when the business Of ii"'
country is cruwing more rapidly than ever be-
tore. or i, will prove that managers Of Institutions
and executors Of estates are unh''ru 1r INC
positions which tie occupy.
stadirr'Ss and ease. and ~ Paris trrrrh $ PR
cents have ruled firm at about tie highest flgui"'
,lcy ever touched. The IIan! OF England la>:
week mad" Il small gain to its bullion account.
lut the proportion Of It's reserve wa. 'l3'i'E
reduced. yc, was left at 4l"| ;nr rcn,; as'ha
gold. a.ai"st E?o.S31,1iG IA year ago. Inc Ter
cisn exchanges were rather inclined {" 1rn'hr''
during The Garlic pat of the week, hn, f"r t''
ard ~ eJ l. respectively Tor iohs ana s""''
sterling.
RAILROAD EARNINGS.
Tie general return OF railroa earnings. com:
pared WIN 'aisc t e" mnEs r %n fav"rai,lc
exhibits. The Tribune has printed Inc p!"s'
,arnincs Of seventy flour companies or sNs'e:h'
70: thc THIRD week in August, sIVinS an .eS'r-
CAT, iucr,;s" on the week Of 1850 OF S'4S."4I. or
80 pc9 cent. Ont Of the total number only rish-
tcrn companies return losses
forty companies for the fourth week, giving nn
aggregate gain on the week OF ~" o, p".3
S"s,l4o. o; IL per cent. n., IN ar ;N w,'n n,,y
one in thu week. OF lsSa. The Aggregate ehrhihes
Of the week " this year were $G;,4Sd.o:S Or OYER
$>n",ooo rex day.. i,!o%i"i o"'X w 'wni'1 rc,ur" {" !.
gam for the week q: ,cariy S'vo."oo: or Oyer
II per cent. The sihioin~i tn'l'' ';.idc W.
agyrnC9tf& ard dll1c-rUrcS Ol the companies u"
lnc rain~ oad losses:
q! Nr"N IN Au2.- lEo ln"- "" 49,
Total. $50 D., .o1o.'n = loa.aI' In; 's% 81 80
81 con- S,"i :: SO 50 20. :S5 '%.:!"sot:: h I%f: :5@S;iiai.' 8:
Teal. 40 eo'..s $751; !s 80 1908 ins. "-I'o -
TIE WEEK AT TIE STOCK EXCHANGE.
Ii seems idle 10 comment upon a s'l"h i.ark"i
which in five days business gives only l'',i'i
Shares as tr total tiaIi,ar'io'is on ta' Sr'"ra!
list, While the unlisted dc;'rin.eiit turns our
transactions Of 1890 shnirh. We VIII as
poe OF the unlisted department SIMPLY hH H''rFc
'ncc 10 TRANSACTIONS III H"ta. r"riH"a"" NJ
- "a. with Il final closing a. =" -. against.
~ IS ore week ago. and ia tranS'r'i"iiS III i""'
PAGES ranging between - IS and ~ 3-S. WITH
a inal closing at II 80, against - "a ohr """
The drlness in tine general market is clearly
cyciupl;lird by the ainount Of Transactions named
ahovr-I-3,4;l shares. l@rriHg some %ar,iyiiv
and al upward mCT"mci't IN prices on IirSl"A,
Tive dull marker mas rh'iI'iA '"Vh Si'"'''" '"
slro,. efforts for Il depression III values. ana J,
is from this point Of view that t'" !!arE"lS
position is to he measured. The methods r">"r'rd
10. inclu.iing that IL Il snrak1nS ai!ohfinous
MIition Tor Il Change of management IA The
illinois Central Railroad. n'c not worthy OF con
81 sheraton beyond that given. to them III H."
daily reports, except 10 sly tart tie famous
aunuynuls PETITION alluded 10 simply. repeated
IN an Ingenious way figures Mhici had Tch
known 10 tie c0!npany's stOckhold"rs by rV'ri
annual issue Of IT'S very full and complete report.
The poin, j. simply This: that the result "f
c\,ranrdinary and questionable methods 10 dcprrsa,
values nv, Teen -iagIiiioii IN sITrhiN''ioii; ana
generally ar im,na,rrial decline IN prices. Why
l.cW>r ne artiil holders Of securities ar" ho
lnn:cr learning their lessons Of values, Or "i
prospect, from the publishers rItl"r OF wal! H'rrr'
Ln.sip or Ui Gn"HyInOus cnIniniIlra'lohs. Ah
inAura ncc cnLlmlny whicl had ~poSit:vc iniOrInN-