New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-26


clally, and the Bank of France holds in gold
the equivalent of 1893 476,G3O That caused the
advanced rate Of discount in London.
RAILROAD EARNINGS
The Tribune has printed the gross earnings of
MY seven railroad companies or systems for
the second week in November. OF the number
tWenty-seven companies returned gains OF
$25S334 % per cent. and thirty companies
losses of $4917SS. LIP per cent The total
number shows loss of $104045i. or %.3 per
cent.
p companics 81 500 Gao sacS7s7, Inc s2is s4 ~
30 companies. 4,a4S is3 395c7o5 Dec 4'7.7sN H.
Total 81 cos. 81 .25s iSa s7cisG7a s2ia "a a3
The gross earnings Of four roads for the third
week in November have been printed. one show
ing a gain of sl.166. and the other three losses
of sll3.643. The four show losses of $ll2.i1'.
ON THE STOCK EXCHANGE.
The principal incident of the week. far as
its immediate effect upon the stock market is
concerned. was the reduction Of the Burlington
quarterly dividend from u, TO 1 per cent, and
the circumstances surrounding the directors ac-
tion added to the effect. viz. the postponed meet
ing and the false announcement. through the
news agencies. Of no change. followed by a cor
rection after due time had elapsed Il allow some
one 10 sell a lot Of Burlington stock the rise
1t cannot be doubted that the directors. from an
enlightened point Of view, acted wisely IN not
declaring a dividend which had not been earned,
10 all details If Burlington management. ana al
other arrangements Yet. when one considers
the effect of the reduction I'm figures. il IS note
worthy that while the directors saved for thelr
company something over 100000. the shrinkage
Of the stock in the hands II trusting holders
amounted ~ something over $.ODO.VlJ IN "A very
short time The argument that the Burlington
deficit should have been mad" good from FORMER
SURPRISES is strong o. its face but probably. Ike
most other SURPRISES in railroad hookkr ping
this one is now represented by expenditures
which have not been capitalized. The dec'easei
st. Paul earnings. and those for Norihw"Stern.
also contributed To the depression ana HucH III
tcrest felt concerning NorthWeSt"InS d.Nl-
dend. to be acted upon next Tuesday. When
Northwestern is disposed o. some other point
doubtless. will equally we'll answer the purposes
OF the bears II the market remains a professional
and narrow as at present
Much talk was made about the bond issue.
which was finally subscribed three times over. as
announced this morning in Washington as
patches: and some criticism was INDUCED IN con-
corning the secrecy and the alleged compiled
tons which occurred; yet everybody felt sure
that the issue would be easily taken. and the
effort TO make II appear that a premium was
paying gold was too transparent II d"celN"
any one In our opinion the bona issue ana i,s
accompanying incidents affected the market ony
indirectly. through its effect upon general busi-
ness. Now that the question IS settled. however,
the financial community will become composed.
and the stock market should show hrmer
under tone And after all. is the question set
tied? Under present revenue conditions VII" n"t
the business have to b. done over again every
little while?
causes lying deeper than reduced dividends or
hating arrangements To- subscribe for bonds; II
is largely due 70 the fact that while prosperity
IS surely coming t. this Nation ii mas not yet
come improved conditions and signs ~ in
creased business activity are not prosperity iis"f;
and people are waiting t. feel tn" better 'iih'S
personally before they buy stocks, 10 matter now
low the good ones may be. II would not DC
strange. therefore. Il the duh period continued
until toward spring ConscINa0N" Judges VINO
admit all the favorable influences AZ present Al
in,
proach Of the holiday season strengthens 'h'r
view Dull irregular and depressed therefore, is
the phase to describe the market of the week
past and the details If IL course may be
scanned in our table. IN another column. showing
the weekly range OF pric 's. Consd"Ihg IN" pi'sr-
IRE against them the Changers stood up well
Their huovancy was c0uspiruously shown yestcr-
day The lndusirials were comparatively Qui'I
rranipujatOrs seeming inclined t. take resi-.
especially in Sugar: and. generally speaking '"'
group showed weakness Thls feature va esp
ciallv noticeable IN The cas-" # Chicago Gas. ana
was without reasonable explanation. Inc H"I-
ancholy downward career Of toriagc cohllHu'n.
National Lead generally 50 firm Of late, als" Re
coded but nearly recovered ITSELF Fcsi'rna>. lnr
numerous investors in Western Union must nave
noted It's strength with pleasure. ana feJN''u
in rumors of increased earnings IN" ''."l' i'
Pullman stock was marked but res'c,i on hp,n-
ing but rumors. Manhattan was az low as ti'
managers Of the elevated roads cared 10 So" H. h
onc NAV Judge from the bull points when. us
usually uncommuncative oihcaIs fa'" out
c,u,hern RAILWAY shares looked up owing To ar
takes a large block Of bonds. In view "i 'n'
snecuation Ohe mental process) whlch preVahS
conce rning the coal stocks. We quote me l,llD"-
ing figures from The Financial Chronicle. FOR
nine months the loss In gross on the coal roaIS
was 81 504 91s. and the net loss S2boZ,o5i, 10
this net loss Central Of New-Jersey cohripu'ru
a. On, oee. Beading with the coal and iron com
many s7l3592: the leased lines OF me i-a'Ka-
wanna in New-York. s2s39s0; and the Delaware
and Hudson least Of all. Sl4.3Il.
In the bond department there was more ac-
tlvjtv than in shares yet. TOWARD the close or the
week this fell of. The bond issue negotiations
may have had much influence nero as ny Ger,
.a,rlr had in the money market Trading IN
Cov.rnrnent securities was naturally Nght Dnt
nuotafions strengthened. state issues were quiet
In foreign markets a buOyant feeling was
ebnwn esDeciay in London. where "gt-edge
Investments were In great demand. II Is paniui
~ reflect that the demand for American secnlit'.
did not increase there although the reduced
dlvidend in burlington did not seem 10 be ac-
ccn,od az so discouragine An omen as at home
THE WEEKLY RANGE.