New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-07

than sell. Even South American securities nave
begun to advance. but naturally greater oonnoedCe
position sS should u not be checked there would seem
Of gold. II Is improbable that this will be helped
very much by the action of the Fourth national
shipments. What the result might be IL this De
came the concerted action Of the Clearing House
Association II is not necessary TO inquire but IN
this instance 1t looks as If the action was merely
an advertisement Of the bank. 1t may even DC
doubted whether the exports Of gold in the spring
the banks of France and Germany retarded by
the action Of the Treasury Department In with
holding gold bars The movements of money are
able receipts of gold from Europe will be the
Treasury payments for matured 4 1-2 per cent
bonds, which, IL Is estimated by the Secretary OF
the Treasury, will amount to about S25,00O,O 600.
Ii should not be forgotten moreover, that the
money in circulation is constantly being increased
by $4,000, 900 q month.
In view of these conditions anticipatious of
strlngency in the money market would seem TO be
without good foundation. AZ the Stock Exchange
call loans little dearer In the early part OF
the week, but rates afterwnrd declined and the
average for the week was probably not over to
3 l-2 per cent more encouraging feature was
the greater ease in rates for time loans, and offer
ings at legal interest were more liberal. The
foreign exchanges weakened under o better supply
Of commercial and security bills and especially on
the announcement of gold shipments. Toward the
end of the week the market became firm again, clos
ing at 81 80 and 81 SIS for long and short sterling
respectively These rates are fully cent above
the gold-importing point.
RAILROAD EARNINGS
The returns of railroad traffic continue to be
highly satisfactory, although many of the COM
panies have not yet begun to feel the effects Of
the bOuntiful crops. The statement Of the gross
earnings of the New-YorlS Central for August,
which is printed in another place, is particularly
noteworthy. The comparison is made with the
month of the great strike last year, but in spite
Of that the increase of 81 202,0Sl is remarkable.
Deductng from it the earnings of the Rome road,
and comparing with 1889, the net increase is still
S272,440 The statement of the net earnings of
the Chicago and Eastern Illinois is another agree
able exhibit. 1t shows surplus for the month of
S67,31s while the requirements for the quarters
dividend are only little over S72, 1000.
The Tribune has printed the gross earnings of
twenty-four railroad companies or systems for the
fourth week in August OF this number thirteen
companies returned gains Of S225,f74, or l0.5 per
cent, and eleven companies returned losses aver
aging Az per cent The whole number gives O
gain over the same week Of last>year Of S131 1872
or 90 per cent 1t has also printed the gross
ings of sixty eight railroads for the third week Ia
August The whole number gives a gain over the
same week of last year of nearly per cent
The following tables divide aggregates and diner
ences Of the companies. showing gains and LOSSES.
Is cCSpa@ies 6S Us 81 sss s97 Inc SIS ia Jos
II companies. 220l4S0 2,107 ,4SS Dec so 9g2 AZ
Tctal % Chs a. aga e09 Ao8 YS5 Inc s191 7s2 90