New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-23
TRIBUNE MONDAY, PAGES

day to Ia rer cent for discounts and IL per
cent for daily balances.
On the Continent the open market rates for
money were virtually unchanged. The Bank Of
France in the week reported the extraordinary loss
of nearly ll7,000,000 francs in gold but no cX-
PLANTATION Of it has been obtained 1t was sus
pected that large part OF it might have gone to
Austria, but thus far there no indications that
the specie left the country.
Foreign exchanges were dull and generally firm
On one or two days there were slight concessions
In rates, but they were not material Yesterday
there was little doing and offerings Of bills against
exports Of gold impaired somewhat easier feel
ing At the same time rates werc scarcely lower
than they were a week ago. They were 81 SO and
81 81 l-2 for long and short sterling bills re.
spectivey
RAILROAD EARNINGS.
1.-THE Financial Chronicle" computes the gross
earnings in November of 81 railroads at Soc
322,7s2, an increase Of l.s3 PCT cent and the
net earnings at 1913, ,02G a decrease of 2.3G
per cent, 1t should he observed that the month
contained ono more working day than the
month OF 1891.
The Tribune has printed tho gross earnings Of
forty-fvc railroad companies, systems for
the second wecl, Of January. or this number
twcnty-six companies return gains Of S373,5!o, or
IA per cent and nineteen companies return lcsses
of o. per cent. The whole number gives an in
crease over the same week last year Of Slio,l's.
or 90 per cent.
The gross earnings of seventy companies for
the first week in January are also given, the
whole number showing an increase OF S3Jo,1o1,
or Sc per cont
The following table divides the aggregates and
differences of the companies, showing gains and
losses;
% companies .scGioo,5 sa?,s 49, Inc at7i 80 ~
10 companies 2,cl4,lcs loso7io Dec :S339a lo3
IS companies. 81 s25 oss a. oO5 sol Inc. s'ol7s 20
80 compncS 90 Ola s55lC 500 Inc. eii5GoG So
IS companies l,3sl772 l.2i2. 1913 Dee. $1,000 O.
20 companies So $50 ass Inc. ss'c''7 sc
TIE WEEK AT THE STOCK EXCHANGE.
The course of prices at the Stock Exchange last
week indicated n complete restoration of public
confidence The buying of stocks and bonds VA
active and energetic, and il WAS largely for in
vestment account. Transactions in stocks were
unusually heavy. and in railroad bonds they eN-
ceedcd oooo99, or an 1vTrasH ., ngaFN ~ =,
Dictated still further by the prominence OF Oh
favorites of spccu alton. The Granger shares
for instance We're IN constant Ge'nd by inn' in
this group, and il scored an advance iii the week
of IA per cent Rock Island was even more
conspicuous although the transactions in II
were larger and its final gain slightly smaller
In the last year or more all the railway
companies have been preparing for 'he cn nor
| Columbian Fair. The railroads cenrrlng at
Chicago are likely TO receive the greatest benefit
and owners and managers are now rra. ~ Tor 'mc
Of them are large holders Of the stocks ana pom
of the lines which they control. At any rat" the
real holders of railway securities nave proIr'
| many times in the last year that they were nm
willing to part with stock and bonds even when
| superficial conditions appeared 10 ~" opposed 70
| them. The recent advance may haXc been S''ilcn
| bv professional spectators for t'"ir own pnr-
| poses hut the movement has extended beyond, ami
the controlling factor at present * thu investment
| buviup for European well ne domestic account
| Popular faith that the sherman Silver law VIII
he repealed at the present session OF congress h''
| become mere cInfCcnt 1t Is beginning TO h'
believed that if the present CONFESS should iai'
to take action an extra session will 10 called I'M
| modiatcly after the GLANCE III Administration
Tho extraordinary ease Of money ai'd tie lew 'al.>
| Of interest which prevail evervwhcr" at nom"
and abroad naturally work in flNor OF me h"i
| prices for capital seehs more profitable emp oy-
mcnt than is afforded nv the current f1,rS '2r
| re-eeta bshcd WHY il shOull not secure the ldrc"
| dividends ,romiso by Tie inius'rnl stocks, ana
| certainly none whatever why il shonld not ~,
vcst largely in wcll-oStabliSlcd bonds and assured
| dividcni-payiog stocks o,
Tho only adverse influence 50 far as ,p"c"i!-
ton is concerned is S r T o we Tc-,cr
day amounted 70 81 goo. 900. and IN spite Of th"n
the rates for foreign e\chang" wrir rrlA.N.IN
firm \ wce, ago it was announced 'na' 'lr
| Rank of France had removed lis premium o.
| American gold The reason was tha' II va
exceeded the legal limit Of us note lN.n". NI
| that time the bank has obtained IT IN the ft'nh
| legislature permission 10 Increase ITS n''' err u,
| Iation by 500 600, 900 francs. and :l1ih'u||''N
Interest on shipments Of gold from Ncw-Nori
from the day Of shipment. This Is The "nN
| market where France or Austria or any Lnr"iFa'
| nation in need Of gold ob'ain an ad"1lp''
sunnlv It is doubtful. il must b. admitted. how
far the movement may extend. hut II certainty
mus be hoped that the Rank Il Franc" VIII mo-
attrmpt TO buy here the whole amount whir'
the increase in its note circulation Involves
The exports of gold. however, w.rc dlSIccardc'
| entirely by tie stock market. When me n"T J.
| nourirr in from all sections Of the country II
the volume which has been mnutin"1 for t"'
| weeks the loss Of few millions e1ii l. c'r
| eidered of little consequence. The movement u
stocks was sufficiently uniform. and with ti'
exception Of decline Of about ! pei cent u
| New-Encland. there We're no important "Nc"n
tions 10 the advance. The most activ" >t"'I
was Ds'illing ana Cattle Feeding, winch nnrtu
ated violently and mystcrIpuslv. Ath"u@h J.
closed with q sharp break. il was still above
, | Ter cent higher than week ego. stocks Wiucl
have an internaio nal market were conSpIcuru
bv their strength although the huyng for l"r"i =
| account partly To protect short contract :
| There were special movements in western mon
| and il Richmond Terminal. AMI OTHER stocks ="
| similaf classes The movements were uhiN"r
sally toward higher range of values. anu ~
| though the last prices were not the best i1r th
| week the closing confident ana lUii %
encoura cement.
Following is our usual table. giving the humble
, | ~ shares sold Of all stocks the highest, loves
and the final prices Of the week together with h
final prices Of a week ago. prciXed by the aycra@
| prices Of January %, 1892:
| WEEKLY RANGE.
ACTUAL SALES
| Ed. T0'a