New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-09
the market was weak at 81 80 1-2 and 81 SO 1-2
Tor long and short sterling bills respectively.
RAILROAD EARNINGS

the market was weak at 81 80 1-2 and 81 SO 1-2
for long and short sterling bills respectively.
RAILROAD EARNINGS.
The returns Of railway traffic continued to be
highly satisfactory Reports for the fourth week
OF October show extraordinary increases, and
that OF the Chicago, Milwaukee and st. Paul is
unprecedented. Further reports of net earnings
in September show small gains and hold OFT
promise OF better results in October
The Tribune has printed the gross earnings of
fourth week in October. OF this number thirty
seven companies return gains of Se92,7S6, or 100
per cent, and seven companies return losees averag
I ing 81 per cent. The whole number gives
gain over the corresponding week of last wear
OF 1881 ,057, or o. per cent. The following
tables divide the aggregate and differences Of the
81 eop %e oes os ss SIC o.s 5 Inc ss2 7s ios
eompsnies.... 1,o1o,G3o 1o13,9oi Dec Ol79o 81
Total A so5 eli oo2 O5a Inc $oSi O57 sa
THE WEEK AT THE STOCK EXCHANGE.
The common expectation of a better market for
stocks after the close of the political campaign
was disappointed. The failure Of the Maverick
National Bank of Boston, with its shameful dis
closure of official negligence, excited a distrust
which checked buying and encouraged selling of
securities, and uncertainty about the extent of the
Government supervision Of banks led timd holders
into parting with their stocks, while they aroused
TO fresh activity the bearsh elements IN the mar
ton, Chicago and even in this city, have not been
lacking, new developments Of consequence.
have come TO the surface. In several instances
the rumors have been proved to be false and
malicious. Ii must be admitted, however, that
the Maverick Bank should have been closed long
known TO the proper officers of the Treasury made
them accomplices with the speculative directors
OF the bank.
Maverick increased its business and deposits by
unsound methods. 1t paid a large rate Of inter
est on balances and il accepted as cash drafts
nipfc at tha
inducements the bank attracted deposits OF ABOUT
81 0, 900, 000 and its apparent success was an
absolute injury to the banking interests, no. only
be only one result Of such methods OF business,
but modern fnanciers seem to believe that natural
laws will Ike suspended i'll their faVof. >,
1t is not impossb that the stock market would
have followed the same course II the Boston oanK
had not been driven to the wall; Affairs IN
Europe are unsettled, and, while there Is Ntte
definite news about financial conditions on the
Continent, the weakness of British eonsols and
French rentcs may be Significant. Inc setuemenc
at the Paris Bourse completed without open
disturbance but the uneasiness In financial circles
WAS not removed. There are many intlmations
that the bankers who brought out the Russian
loan were bliged to take a large part OF 1t on
their own account, and that the Rothschilds, who
refused to negotiate 1t on terms which the Rus
sian Government could accept nave efiectualy
At this distance it looks as IL there was SEN
Gus conflict political perhaps as well as financial.
between Russia and the Rothschilds AZ any
crisis. and in the circumstances extensive buy
ing of our securities for European account is
an acute stringency in money at Paris 1t would be
fortunate if the French holdings OF American
securities not sacrificed in the hope Of relief
Recent developments at Berlin have not been nope
full. and in case of one or two failures American
securities were sold promptly 1t is almost i'm
possible that the London market should not De
in Brazil and by other disturbances IN South
America. :.
Boston and the political complications in Europe
and South America, the stock market was affected
by the evident organization of powerful bear
faction The course OF Prices NJ sne as
encouraged by the tacit approval, If not the
active cooperation, of the Gould interests! 1t
Pacific c episode that those interests had been
brought into harmony with the market Inc
latest indications are that that OPINION was oase1
Texas and Pacific securities possessed unusual
significance, and 1t is not improbable that fresh
developments in that direction may soon occur
Interest on the first mortgage bonds OF the com,
pany twill fall due the first of next month, ana
one of the principal directors of the company
says that it will be paid AS director Oh AIN; EHe
dend ION that stock. would not be passed. On
March / next year the second mortgage bonds OF
the Texas and Pacific Company can enter INTO
ditions There is little lchance Of the payment
of full interest the bonds, but there Is Is also
property will be surrendered according to the
| terms Of the reorganization. .,,.,;oo
| The favorable influences affecting speculation
were entirely overlooked The result OF the
elections was practically o defeat OF free silver
coinage and in London, as we'll in this country,
that result was received with the utmost salts,
| faction The heavy exports Of merchandise ana
| the certainty of immediate receipts OF gold from
! Europe and the consequent removal of any fear
of monetary disturbance. are influences which zen
! dividend of the Pennsylvania Railroad attracted
much less attention than its Importance deserved,
| and on account Of its careful and conservative
management this increase is indicative Of conf
dence in the future prosperity of the country. In
the present temper of speculation. bower, all
these favorable indications are dlsregar1ed.
her of shares sold Of all stocks, the highest low
est and final prices of the week, together with
the final prices Of a week ago, prefxed by the
| average prices of November &, 1890:
| WEEKLY RANGE.