New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-03

lower discounts in London. At the present s-
nres gold can be shipped directly TO Paris with,
out loss. The market closed hrm az go 49,
and S4s6 l-2, and S4.oS Tor ioNs I'LL" ehoi'
sterling bills respectively.
RAILROAD EARNINGS.
The Tribune has printed the gross earnings Of
sevcnty-one railroad companies for 'lc ullu IN
in March OF this number ffty-one coTnpahies
S6GI75 The whole number gives an lncrea@
Of S547.7s5. or per cent over the correspond
ing week last year.
Third week In Matcr coo ,so. Difference p ~
Zee S:s 5sS7s );
?, commands. -sosi?.is, 81 $50 s'l Inc. s477ss 80
TIE WEEK AT THE STOCK EXCHANGE.
The stock market last week was devoid OF IN
tcrcsting features. There were no important , uc
yclopmcnts TO affect the course OF prices. put
feeling of confidence, which prevalieu IN te
preceding week was maintained In view OF .Le
fact that Friday was holiday, ana tilat !he
London market was closed since lhuISaay, .ho
volume of business was larry iarse dmJ J VIC
nreat extent local The public apathy in regard
to both stocks and bonds is SURPRISING D urine
tho Easter HOLIDAYS i'm London there IS usually
jttle business from abroad, but in spite OF the
HOLIDAYS Europe especially shows no intention
of re-investing in American securities At nome
low prices have attracted llttle investment puA
inp but il has been generally in the best grade
of securities and at no time has IL peen larse
enough to affect the course Of the market CON
pared with the prices Of year ago many slochS
seem reasonably cheap, emitting k"ading an,
Northern Pacific preferred, which have suncre,'
from embarrassment and mismanagement. Chi-
cage. Burlington and Quincy is over ~ per ccht
lower than it was year ago, and sucn STOCKS dS
Erie and New-Yorl Central are from to per
cent lower. There is nothing IN the con'htloh
Of these companies which should justify the de,
cline, while the conditions of genera trh9e a,n
the near approach of the Chicago Fair hold 1orth
fair promises of large increases in earnings. Inc
success of the Chicago Fair will mean much Tor
all the transportation companies 10 what cM
tent II has been discounted in the Stock AarE't
remains 10 be seen. Even comparative laiiuie
would be extremely harmful. rot only 10 .ne
railroad companies, but TO all the BUSINESS inter
ests of the country. Apparently there Is no
chance Of failure, unless cholera should become
epidemic in this country. During tha win,rr
little prevention against the introduction OF TIE
pcstience seems to have been taken anywhere ana
there is no knowing whore il may hrst break
out Reports from Europe have recently become
more alarming ard spread OF me disease III .a,'
10 the United States. the advantage to thi'
country would be demonstrated by an extraordl-
nary influx of travel.
'ihe state of foreign trade has thus far not
improved The settlement of the Lancashire
strikes has not stimulated the exports Of cotton
presumably because the stock OF cotton ~ Eng
Exports Of wheat and other breadstuns nave nor
been increased by a fall in prices. ana 1he
exports from New York were in value only a
trife more than they year ago Whllc
they fell 81 900. 900 below those in the core
spending week in 1891 Since January ] rN-
ports from Ncw-Ior are about S2l ,Ooo, ooo pc
low those in the same period last year. WINE
the imports in merchandise have been nearly
$50, 100000 larger. 1t ought not to excite won
der, therefore, that the renewal OF gold snip
mente threatens TO become large Arrangemeh.s
were completed yesterday for the export OF
81 800. 900 on Tuesday. and at the present ratcs
Of exchange London and Continental points
more than probable. The success Of the recent
Austrian loan was so great that tie market
ing of another instalm"nt OF IT Is rePoraea b no
opened TO public subscription the gold for wnch
the loan is made will hr drawn largely from
'hc country. If the trade balaHce IN 'aNor u,
-,ropo is not countersctc1 by purchases OF
American railway securities. tho amount OF goo
which may 60 abroad in the next three months
NAV bn far beyond the usual sprnT outflow,
1t il srotifyng TO know Una. ame TUIr "cr@os
inc ,i11 that il is now little more than S'.ooo
600 in excess of the l"ga-tendcr res"rv" ~lrh
ont Disturbing the money market. hrt i they
ebould become exccssv" the ONLY check thn'
COM" he applied would come from monetary
strinqercy AZ present there are 10 indicator
Of snch a disturbance The close Of the
month and tho quarter caused OILY tc'nporarI
furry while tha drhurs"rlonfs for interest," an"
dividends which will h>Gin tomorrow. VIII we
hcavv ard rotrrn from n" country WI d"
,i,-.'.. ~ DOT =, hn'oro H." - ~ ~" wool.
While confdorce exhibited IN III" "onrs" ~
nricos q. the sock FvchHnge. tho industrial shar"
occ-nicd an nycontionallv promiro~t Dlac" in IN"
doslince The transacti"ns in Dsfillirr AMI Cat
tIe Fepdirr and Srgor Pefnng. w"rr ah"n' ono,
Quarter of the total hrsiress. AMI oven tho f'ir
most activ" stool, h"lonq1 10 IN" SAN" 4rHmr
Distillinr ard Cattle Foodng declined sfr'diiv
throughout tho wnolS. and. in sDtr o. raHv ~
per cont closed with loss OF rs p"r conf
The only rrotevt for thn fall was tho statement
that the Eastern directors, having dlsnos" of th'r
stock. would r"san their places ~ IN" anproaHh'
ING election As 10 the real condition Of the COM
nanv. no information his been vonchsaf"d nc
inside INTEREST," move this stock M and down
according to their sweet will wIfhomt rrcaI1 y
the earnings If the company or ITS lh'rinN'
rcrlts Exactlv onroaitn To this movement wm
the advance in Sugar Refining. which closed within
- fraction Of its l,i"hest roint with Gun oil
over 4 ror cont Other Industrial stocks svinpa-
thized with III" a1varce in Sugar Refining rather
thon the decline in Distilling.
In the railway list there was no m?vcm"n' o,
importance Nest stocks advanced slowly. bn'
their final rain. exceeded 1-2 per cant onlv IN
the cases Of special stocks. The prominent excep-
tions were Missouri Pacific. which lost PR "cn'
receivers certificates Of the last-namcd company
was postponed because H." appncail'n was M Witn
drawn 1T the request Of the receivers for mo1itr,
tion. II /, 10 be presumed thar the amount which
was 6\od originally N S5.31o.o00. will b' re-
luced, but no official statement in regard 10 IN"
change has been published Tie stock was in
huenccd undoubtedly by the publication OF tho
earnings in February The falling OIL in com
parson with the SANE month lat year WAS eA-
trcnely heavy and requires explanation.
The advance in the price OF coal the unusual
consumption caused by the severe winter and the
harmony between the anthracite coal companies
tended toward different result II is not impos-
nible however, that the error in the statements.
| if one should be found TO have occurred lii that
of February of last year, happened when TIC fnoI
coal combination WAS made. The showing at
that time may have been rather more favorable
on account OF those negotiations. The decline in
! Missouri Pacific was apparently due to the boss
| OF a practical railroad man president of the
company, and the corresponding advance in Union
/ Pacific confirms the theory In many cases in
both industrial and railway shares the principal
buying was for the short account. I'm the stock
| loan crowd yesterday there was little borrowing
demand and on the surface the short interest in
the market has been entirely eliminated. Al
though the closing was slightly irregular it was
| generally not far below the highest points, and III
spite of the announc that gold exports would
lee resumed Immediately large scale it was
not lacking in confidence.
Following is usual table. giving the number
of shares sold OF al stocks, the hi chest, lowest
and the final prices of the week. together with the
| final prices OF week ago. prc!iXcd By the average
price. Of April =, 1892:
WEEKLY RANGE.
April --Ac;ual salcs---- Total
1tiDh. I.lal