New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-25

ing from 10 for short dates TO l-%a4 10. iGr
all other periods Large amounts couiu No. bnr
be placed even at these cheap rates. because poi-
roNers SAW no reason for entering upon iohs ~
,Inportant engagements. The congrSiru c"Ii;'
ton Of the money market IS not WhoiN PN' 1 u'i
TO this city for reports from interior pohile ii'i
cate everywhere an abundance Of loanaole luh"5
In London the Bank Of England was io,'" = NO
lower It's minimum rate OF discount oF .o,,ppt.
cent and in the open market rates Tor discouIltS
fell TO l-2al IS per cent. While Dankel9 ar
ances were offered at l-2a3i per cent ne C sam
condition Of financial ease prevailed on ''T Pars
nent where rates were scarcely higher. IN arr
and Berlin there appeared 10 be- a JACK Oh coiI-
idencc. but there we're no important aeVflppi lrs
in any direction II is becoming s,eadlA m"Ir
evident that Europe intends tn hold tenaclonsN
to it's stock Of gold and. although II Is sun loiccu
10 buy largely Of our agricultural produc'S 10 PlH
for them by the return Of American railway secnri-
In the early part of the week the foreign eN,
changes yielded a little TO fuller supply OF
bills. both commercial and security. ou' as t.iS
was quickly absorbed, rates advanced rapidly 10
the highest points reached for several mohu'N.
The market closed strong and materially higher AZ
81 50 and 81 81 S. for long ana snort s'erlpis
bills respectively
RAILROAD EARNINGS
The Financial Chronicle" reports the net earn
nCs in November of l3S railroads, sn0Wlhs
gain over the same month IN tle prcccuns E Tho
Of S2,923404, or little over ~ per c'Ht' ]
increase both in amount and percentage Is iaIETer
than in any previous month IN the year: ne
latest gross earnings are less satisfactory LOT 'he
losses are more numerous ana ildi'
The Tribune has printed the gross earnings vi
6ftv-eicht railroad companies or systems Tor lhc
second week in January. or this hummer uhIN
five coihpanies return gains of S513.1jl, or l1.9
nor cent and twentV-threc companies return losses
averaging 10. s per cent The whole number gives
a gain over the same week Of last year OF
S32s 7g6 or SO per cent. II has printed also
the gross earnings of sixty-siX companies for the
first week in January. The whole number gives
an increase of S325,ol6, or "a per cent
Tie following tables divide the aggregates ana
az al. nia
losses:
4 !; s553 Bee Bee, ss }5s
Total IS co.'s. s5,s797i5 sc2os,54l Inc. ss-s'79c SO
i S%Ps@,: ss 'g3 S4s Dec Dee 's SO
,ro;a GIG co.'s &c OF 800 $685., All Inc s32jo6 "a
TIE WEEK AT TIE STOCK EXCHANGE.
The movement, in the stock market last week
were unusually interesting Prices decline, r4ni1
rapdly in the first Two days, fuly recovered thelr
losses on Wednesday. and since upn have iteA
variable and uncertain. The preteNt fer the cary
decline was the remote possibility 81 Il War WIN
Chill. There are many reasons for thinking
however that the reaction would have occuNri
even if some other excuse had been nrtL,. Oh much
greater consequence m sIecuauyc way w"s NV
action Of tie Missouri Paclhc Railway III request
ing q special meeting Of the Advisory DoaId OF
the Western Traffic Association winch imP!Tu,
threat of withdrawal from the Association II u'e
rules in regard TO rate cutting were not chi"iSeu
promptly and imIartiallN. No fault can p'SSloIy
be found with the position taken by the missouri
Pacific, but that special meeting was h4t con-
Cldercd absolutely necessary was proved by the
neglect 10 give an official notice. After TIE re
action had occurred and the market had recovered
from the shock, the Missouri Pacific Company
gracefully waived its Icqucst ana Inc matters
which carly in the week demanded tie lmme nae
attention of the idyisnry Board, became 80 niue
important that thcy viii not lie considered una
the next quarterly meeting. The publication OF
the correspondence between the president OF inc
Advisory Board and the president Of the Missouri
oi,o o., ola 20
the market Yesterday although II may nave bcrll
INTENDED TO stimulate speculation. IT IS mghN
improbable that the Missouri Pacific Railway had
any intention OF withdrawing rom the Association
or that It expected special meeting OF the Ifo1ru
would lie called on lis simple request Inc cvldent
purpose 10 produce fraction In inc s'oGR
market, and when that was accomplished rhe
disturbance WAS entirely over.
The anthracite coal stocks were unusually
active and prominent. An open eat in the price
Of coal suggested tile beginning of long Threatened
conflict but it was, in fact, "A signal for sharp
advance in the prices Of the stocks, ana revival
Of activity in them Lackawanna led the upward
movement on buying which seemed Ia be- for
the short account and II scored an advance ~
The week OF nearly per cent. Reading vas s'lII
tually unchanged OF the les. active coal shares
Delaware and Hudson was weak. while Ne%,JeT,ey
tween tie companies is expected. No, agreement
for the restriction OF production or the division
of traffic has been made. 10 is well known that
the Reading Company feels itself % be IN posi-
ton to demand larger proportion Of the business,
bnt il has DELAYED on one excuse. and another 10
define its requirements lat II Will pursue a
more aggressive policy has been shown by the pro-
posed issue of collateral trust bonds and by Its
acquisition Of the Poughkcepsic Bridge with n
line Of It's own 10 New, England ana win the al
dtion Of the Coke Brothers tonnage, the company
may be expected very largely 10 increase It's out
put The official statement of the production OF
anthracite coal in the last calendar year reports
the shipments from the Schuylkill region AT r.
10000 tons an increase Of over 1,S32.OOO tors
over the shipments in 1890 which at that time
were the largest record. There IS every reason
10 believe that even this record viii be- broken
ore Of the striking incidents 81 the Srrk was
furnished by HE crratc movements Of Disting
and Cattle Feeding stock On several days il
fell below IS, after beginning the week at - -
hut Yesterday il advanced sharply. and liS hn'l
loss was little over per cent Many rumoTs 10 -.
rogat0ry to the company have been circulated, -
the president of the company has profeSs'h no
little anxiety about the results OF threatened lit
cation and business opposition. I-here is nothing
in the affairs Of the company, IL Is understood,
which can in any way justify these fears. lts
earnings are equal TO nearly IL per cent on IL
prosent Capitalization and even If that in
creased for the purpose OF acquiring opposition
distillerics. the present rate Of dividend could be
maintained. even if the new business brought no
additional profit. The adverse rumOrs which have
from speculative directors Of the company who
live at the West. They were intended 10 affect
the prcc Of the stock i'm order that these directors
might make profitable turn in the market. IL
is 10 be hoped that AZ their next general meeting
ia, shareholders will refuse 10 elect their
trustees in the mana cement Of the property any
men who use the. official place for their
private gains The day Of the speculative director
in corporate mat lgcmrnt las passed The recent
movements in this stock are Oh par with the
speculative manipulation Of American SUGAR Re
| fning and Chicago Gas One Of the direct re-
suits Of such operations is to discourage and dis
pei public buying.
While the market was irregular and variable
declines failed 10 bring out any considerable
amounts of long stock. ana eycepting the first
days Of the week, the market was lower without
excitement or weakness Stocks that have an
international market depressed bv fresh
sales for European account, and of these TIE
Northern Pacific shares were especially heavy.
Tho oraat tlnfhora Of money however and tho