New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-08-22


G Cha; 1872 $42 % 5SS ls1s 200 80
I :ssS:ss - }s $;f5ss ss5s Ssi
f fa s. Ss sssS s ssS$ sssS s5$ S.
Ss sSosr Mt ss5 go SG4 $500 80
S wssn lSYi G7ssSS GIG Is 500 s
Isl D. tx" o3"" log 600 $id goo GOO d9ISS 5,S
Totals 49, o5 $50 sGOoi.S 81 $4,000 j244I2io 27.8
=, The bank exchanges at The NcwYork Clearing
change last week and for the week of tie preceding
two years compare as follows:
Exchange. s9f 8 90 .SE g; = az, s. g
THE MONETARY SITUATION.
Rates for money continued to harden last week
and the demand promised 10 be equal to that IN
previous years Transfers through the sub Treasury
ments the movement was Unexpectedly large At
the stock Exchange call loans ranged from IL to :
at the higher rate. Tie supply of time money was
abundant but at higher hgues ard in some cases
cess For short periods loans were easily negotiated
at 22Sa pc, cent No %%Gaas aInF Ga s of
rates likely TO prevail unless money brohers be-
pean markets there was important change IN rates
In London discounts In the open market we're lltle
psn st at per per cent" 'as the Gy
market rates remained at previous figures
but not greatly lowered 1t has evidently reached
that point where fresh supplies OF commercial bills
would dcpress rates in the absence Of an urgent de-
mand for remittance. Unfortunately. the slightly
easier rates which prevailed toward the close or the
Of merchandise bills No shipments Of gold Were made
Yesterday. and leading bankers again entertained the
hope that the outward movement Of gold had ceased
$3.50 34a s4.s7. and s4.ss for long and short stcr
ing bills, respectively.
RAILROAD EARNINGS.
The " Financial Chronicle" computes the net earn
ings OF 100 railroads in The first half OF The calendar
the corresponding period year ago, or 81 100 per
cent The increase In the miles of road operated by
The Tribune has printed the gross earnings If thirty
nine railroad companies or systems for the fourth
T RETURN 0, gains of Z s n" or T pcr cent and @
teen companies return losses averaging 80 per cent
OF last year of so4s,5il or O.5 pcr cent II has
printed also the gross earnings, Of sixv-four com
Der gives decline OF s5o.2e7, or o. per cent
Tho following table divides The agergates and df
"a wfsG n Auss.t rn s52 1913 r.
Total 40 co's.s5 s7O,as2 5s4ols3 Inc. si7s2ol 90
Is companies eomPsnes I9scsis icS1iCi De- 1910 81
Total 90 co.'s. $3.50 900 s5,ii,sos Inc a2sIo,s ~
THE WEEK AT TIE STOCK EXCHANGE
speculation was duh and lnngud last week. The
market railway securities brought aim st TO
Holders plainly showed an unwllinenc,s 10 ~, in
the confident expectation that the strife would not
spread and that Iii any case the railroad conpanirs
would suffer heavy losses. Sales for the short
account consequently failed 20 Increase the boating
amount o. the principal railway stocks, and bcari>h
attacks were quickly abandoned In the granger
shares and In others which We're not affected by Tie
that many of them recorded fractional advances.
ms was true particularly OF R"H Isand Nlc'E9 -,
~
end Of the week Reading ,nnns n0 sudden agTE
and 'H ts final Ic o1s a r1 To- Sc pr cda is
especial weakness yesterday was believed Ia lie due
about to be gwen by the SewJeser court Tho
superficial pret-A for the decline was me icar tat
pioyes Of The company but tiis not popn;i,ly
considered an adequate excuse OF It's unL,nal aeDy
final loss of nearly B per cent which was explained
BY the publication Of the earnings Tor tn" June
In general however. the market displayed stubborn
resistance to unayOrabc conditions, and TIE industrial
stocks especially were active and materially hiE"r;
1t was not a healthy sen that pners ana hW Nieid
more readily Ia the circumstances H., ,, Vrry v i Er.
not widely distributed although II Is incredible nat
they should be h.d exelnsivrly by Investors nCrs
pdly when the conditions affecting The general
a '' nm indication at least that the holders Of these
stocks were not prepared f'r any dreln' III ~" zen
week was TO some extent artificial aud unnatural.
The selling Of railway secur ties for knropc" u n1
!
shipment, Of gold made In the miidr ~ IN"
week lmt rates for exchange on LNnr Jn Nhilrf
enough to prevent exports by YESTERDAY HbhhrI-'
The relative strength Of sterling exchange i~ HJ "l
encouraging feature. Recent export, of glid hay"
been 10 the Continent. but In every case II "HH
sterling exchange that sOld against he .lph"hls
II looks very much II one refs III me TEMPORARY
susD.nsOn of shipments the Inability 10 sell
further large amounts OF sterling hIs II j. i"P
10 predict therefore, whether the export movement 81
cold /, vet al an end Confidence In An"iI IN ialI
way securities has apparently no' been restored IL
Iondon where there l. very little mar ~ at present
Tor them Although silver rallied slightly II t!osri
only An I'd above lis Lowest point and rlinuiN ~
regard 10 Mt least two Eastern banks have been freely
circulated. II IL reported alO from London ma IN"
English delegates 10 the International Conference nav
been Instructed not to di>cu-5 any pnl"~ii~ N""i
might result Ia change In the MONETARY system 81
which they may consider j. TO allow India - 3oln
an influential group Of States In adOp;in? ~ n'lalh.r
~ fixed ratio between gold and liver IN hniii Hi
policy 81 the Government OF Great Brit IN i srl'
understood and II II Is that the Enif-h doe
gatcs have received thcSr instructions tic au'Hi ~
81 the monetary conference viii be Ncrv sllght ~ j.
Incredible that this country alone ,bOild enter union
With India whose minis are artaGf open - NE ne
without England any great European nation VIII ch'r'
upm an agreement Of that cmiac,rF III ,l"'' ~ wv
distress In business circles IN England connected
Eo Trade a further decline ia 7lN"i mn bc '"H
sidered Inevitable BY British hnanceFs ~ hh YIN ~,
the selling of American SECURITIES - ''''' W. -" '''
further protractcd. ,, a., ,,..,. 80. nj
FolloWing is our usual table. giving the nuh3c. 81
sorc. did OF all stocks, the highest, lowest ana bhli
nrjccs OF the week. together with ~" i'hi P1,c,"
wce, ago, prefxcd by the average prices Of August
%, 1o91
WEEKLY RANGE.
Actual .alc. -
avg nlsh. low. H r,sai. is .' sssr'~