New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-25
. ,-r ,,oNnAy April. 2, 1S92-TWELVE fA1re.
Totl. $50 So 100 10! sD90O - 95i,5oo % 90 90

5i HSs y gym 99o 5oo 927 0o5 iiL@oo $4,000
Totals 100 s75 700 TO- $4,000 - $4,000 5cs 500
The baus o,,haI,ec, a, the NewYork Cheering Hous,
ana the stock sold at the NowYok stock Exchange last
eek and fos OF the preceding two YEAR compare
follows. -, 80, -. 200
Exchange. Az. z q 49G@l g 81 9s
THE MONETARY SITUATION.
Money remained extremely easy on both call
and time throughout the week At the Stock
EXCHANGE call loans continued TO RUE at Lao
ror cent and. perhaps. the bulk of the business
Vas done al the higher rate The supply OF funds
ntrcred on tine was excessive, however, and rates
for thirty DAYS were scarcely higher than Tor
demand loans. At II per cent loans on mixed
cnllaterals w,rt easily obtained for sixty ana
ninety DAYS and f1r longer periods rates ranged
fran 10 4 per cent. me ms'lnallleu niurr "p-
I'm Europe there was no change in monetary con
dItions The Bank of England rate of discount
was lett M II per cent bat there is little likell-
Lnnd that This figure can long he maintained, while
in the open market money Is plentiful at ! per
cent for discounts, and at 1-2a3-4 per cent Tor
bankers balances.
Mo foreign exchanges were strong and higher
in 0rsrnuence of a continued scarcity of mcr-
cbandise bills, and renewed demand for remit
lance on both mercantile ana bankers accounts.
= norris Of Sl,7jj,00O were made hS yesterday
steamers and bankers with European connections
freely predicted an active continuance of the
movement The market CLOSED strong at an au-
81 81 IA and 81 80 IL for long and short sterling
bills respectively.
RAILROAD EARNINGS.
THE Financial Chronicle" reports the net earn
inps of 1873 railroads In February at Sl6,429,Ss"'
an increase Of S2,7Ss,j6l or nearly 20 - per
cent. over the corresponding month last year
There was, of course, oue more day in the month:
The Tribune has printed the gross earnings OF
sIty-three railroad companies or systems Tor tne
second week in April OF tins number lortS 're er
Gains of S3,U..lD. or J.S per
cont and twenty companies return losses aNerag-
ing 3 per cent The whole number gives gam
over lie San, week Of last year Of $24l ,5s5, or
$.6 per cent. 1t has printed also the gross earn
mos of siVtythrce companies for the hrst week III
April The whole nuwber gives gam ol
S362, llj, or 80 per cent
The olowIng table divide. the aggregates and dftr'
onces Of The companies, showing gains and lose.
"a week IN Apra SS'l-1 s,1tSsS6 Inc. s5,07 rs 9s
30 con1 ,ses 2994,570 2,sG3iH Dec 12"lS2 10
Total Ga s67os.7i7 47.oioS9o Inc. s24i,5sS SO
q. i GoS Sss1 "a Go 4e7 Inc 1903 o2S 90
IS conpano...... 2il572o loG1si2 Dec lio9o 81 %
Total CD so7I0.I47 sG.97s262 1no s2C2, ll3 S9
TuF WEEK AT THE STOCK EXCHANGE
The dominant influences ir speculation last week
were continued. selling of securities Tor European
account and the renewa. OF exports Oh eolu;; r,dr
lc sure come stocks which do not ENJOY an InlrI-
national market, suffered the largest hn'l decHhes'
but even their movement was confronted Nv INC me
general influence The an'hr2cle coai shIeS; lyi
instance, were cOuSplCuouSlS W''N' "A'HN
ing alone is dealt in abroad. one spcciaI reason
for their decline was ;hc uncertainty IN regard 10
tLe action of the Pennsylvania Railroad III felu-
ing ite tolls IN coal 10 tide water. lbat tde CON
nonv subsequently, approved an advance IN west
ern prices was accepted generally as an lndlc'iHn
tba, IL was not II declaration OF war against lIt
croat Reading deal AZ the same time, IL ma!
hardly be disputed that the enormous prohts
which the coal combination counted on by l'e
large control Of the production. VIII not oe -
cured without an effort From an advance oI
pfe
coal Ii is atlSuTdly easy To calculate the hl!lohs
Of profit on the output, and the proportonate par
of profit which the various companies W0uiu on D.
tain The action OF the Peunsy lNania fallroaI IL
yirtnnly a notice to the Reading company ulh'
il intends TO retain its coal trade, II would seem
to bc advisable, therefore, that the result OF th'
wears business should he aSccrtaincd pcIore, 'N
pecting with too great hopeiulness, ulNloeHu
on Reading stock . -,
The renewed selling for European account on
the reopening Of the European markets aIoI e,le
HOLIDAYS was a serious and unlOokcd-for diSip-
pointment The advance in prices when nag "tn
engineered in the Ncw-Nork market proved 70 w
an irresistible temptation 10 foreign sWculal1rS
who began Immediately their realizing sales. IN
stead of being encouraged 10 make fresh ventures
they were content 70 accept the moderate Rai lI
which the rise had given them me apparent ip' an
Of confidence which prevailed in Europe Is "hoiN
inexplicablc All tie conditions anrcthe sPecI';n
ton in American railway securities remain hi4hY
favorable. Railway earnings continue 10 iI'' 81
much more rapidly than had been eNpecuu' anu
with a few exceptions. the companies are Oh Il
sound financial basis Discrimination IN respect
10 securities ought always Ia be exercised, ana al
present il is being used much more than usual
One Of the prominent features OF me rai~iy 33nd
market is the absolute scarcity of irscnrs obisa-
| tions Moreover. stocks which are considered ~
sure dividend payers maintain their recent adj
vance without difficulty. ,
| The renewal of the outward movement Of gold
| was plainly 10 have been expected * was
| entirely natural and seasonablc and Judged nom
previous years, it il. likely 10 be continued for
the next two months. The extent Of the move
mcnt may not safely be predicted, however, be-
cause il cannot be clear what inducements 10
stimulate il will be held out by the great bank
ing institutions Of Europe. They certainly have
no excuse for desiring % increase their stock Of
gold unless il may BE- in some financial or poIitl-
cal complications which not known in this
country. In view of the gold exports and OF
the proposed international conference in regard "a
silver the position Of the principal European bank
in regard 10 the precious metals becomes interest
ing. The following table presents the total hold
ines Of gold and SILVER by thc-Govcrnment banks
OF England, France, Germany. and Austria
: Hungary on April q, in comparison with those
Of a year ago, and of November -, $40:
GOLD.