New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-19

ooiis when mean to subscribe to the nov. Gov
o. nlieNl bonds. Quotations ruled AS foIlows.
StV5 per cent for sixty to ninetv.dsv indnrSed
p'iIS receivable 3ft31e for four-rnonth commits
o. 9iion-house ana prime four-month single names:
S12W4 FOR prime siX-month and 4i5GI7 for good
ioud TO siX-month single names
Inc Federal bond issue is expected t. absorb
ao' No % the money now in the New-York banks
as well as elsewhere in the country. and thus I,
,,euuce appGcclably the amount now lying idle
mere This decrease. in the opinion of conserva-
s sVc Judges. will not Immediately be supplied
rom the interior. Hence. rates for money should
De higher in this cty soon
fofeiSn exchange was governed more by opin-
ION than condtions-the prospective bond issue
DeIng the influential factor. Generally speaking
II was duh with tendency to lower rates Fri
Gays quotations, which did not change yester-
gay. Were as follows: Gables 81 S7'4Gsi S7a4. and
~ S6i4MA S6ia and S7AMA S7i2 for long and
snort sterling respectively; reichmarks. % 5-l6
long. S59s short; francs 1858 and 5155s for sixty
days ana sight respectively; guilders 4O4 long
and 40i2 short.
The bank statement is considered above.
RAILROAD EARNINGS
nfty-elght railroad companies or systems for the
first week IN November OF the number twenty
SIX companies returned gains of sl7SS sos. or per
cent, and thirty-two companies losses of $3ll195.
or lOi per cent. The total number shows loss
~ Sl32.3S9, or "a per cent.
% %ggS in NovS is m 81 l. ~ s1. m re
3. COMPANIES 2a'Ss,5 2cS7.icc De- ai.ios ic4
Total IS co.'s. .s554i 256 S5,ilisG7 Dec >la2.,sa -
The earnings OF four companies for ,he second
week in November have been printed. of which
one shows a gain, and three show losses the
four make a loss of $197262
on THE STOCK EXCHANGE.
OF the week under review. the principal fca.
ures were the Federal bond issue for $50 0Oo
in ten-year : per cents. the expert report on
Achison and its auxiliary lines. and the inn
portaton of gold from abroad, which is perhaps
properly considered part of the bondssue in
oident. The condition Of the Atchison property
was seen To be most discouraging Apparently
1t can hardly afford TO keep its auxiliary lines
the Colorado Midland. the Atlantic and Pacihc
and the st. Louis and san Francisco; and yet
If it should let them 20. it might be permanently
crippled. or the auxiliary lines themselves, the
St. Louis and San Francisco is the only one
which seems likely 10 be able To stand alone on
its present basis. The bond issue was wrapped
in much unnecessary mystery. and wnen IL was
officially announced il found that It's effect
Lad been largely discounted in the stock market
General opinion considers the issue wise. since
ii Will strengthen the Federal treasury. l's hrSt
real influence should be seen in the money mar
ket where there will not be 50 much money to
lend when the bonds are taken up ana pald 1or.
That should stffen money ra ties: but only slight
ly so slightly indeed. that. other conditions re-
naming the same. Stock Exchange prices might
not feel the influence at all disposition is
manifest IN some quarters to get as much gold
from the SubTreasuries as possible t. use In pay
ing for these b)nds-which is not what IN" red
eral Government likes to see. The authorizes
al Washington doubtless are more pleased at
the apparent intention on somebody part 10
bring gold from abroad for this purpose. even Il
it does cost the importers something To- DO II.
There seems to be 10 doubt that the whole issue
VIII he subscribed before November -
The protest of the indep andent coal operators
against the difference between tdo-water and in
land prices for coal also an incident 81 IN
huence especially upon coal stocks; ana the d"-
cision Of Judge Brewer. in the Circuit Court Al
Omaha. properly regarded as Of h"neii -
the Granger group JUICE Brewer holds that the
Ncwberry Maximum Freight bill Of Nebraska
cannot he upheld NJ because 1t - nnconsti'u-
tiona hut because the rates when IL seeks ~
enforce were not just or reasonable toward the
stockholders Of the railroad companies anec'ei'
that they were too low in view ~ ruling cphdl-
tons and present earnings. but he granted per
mission II the uphol1crs II the law To- appeal 10
the court 10 enforce its schedule Of rates wheh,
ever in their judgment the situation changes ah ana
times are better. This helps to strengthen the
proposition that railways have nights WAich
legislatures are bound to respect.
In the stock Exchange market proper t ,hrie
was little movement II interest. II was larry
steady until Wednesday, despite realizing saes;
but from Wednesday on Il was less nrIIl' ana
at times was weak me Closing nt ,a, Week
a lower average for railway sharrs ehAi. a W ,t
before and a decidedly lower point FOR the rus.
stocks Trading on the EXchang- was almost
entirely professional the public iaiihs 10 dppI@I
and huv This was not because people grncIAHy
do not recognize that business conditions nave
changed since November q. nor brctuSr me 49,
,,t undcrsfa nd that Improvement in business ms
really begun but because the recent nara uH'7
continued So long thai they left most rc pie WIN
little money 20 spend FOR anything. Whil' me-
who still lad balances al their bankers were ''"
,irlid To venture - speculate iheN 'ouI' lo'
escape from The influence 81 the n'seo"'"h..t ~
tf,it. + r. rp0raion management 90 re. en- years
nor shut their ewes L. The low prices OF ""'a'
and cotton To discount IN" future was h"l az
tractive 10 them under the cItuHs.''nn, it,,
,bc,. e,aved out e the market. as they WI DE- ilK
" to do for some time The variations ID S'".h n
prices. Therefore. are hardly INSTRUCTIVE anu "ao
rt ~ esnec.al Interest Tho Grangers were un-
dor hear pressure most Of the TIM, bat 5000 Hp
,~nu unti saturday Railroad earnings were lleh,
and nnrsisteni talk was heard about reuuce.
On riii,.d Z, P,ul's earnings were the cauS" OF
Saturday's sharp decline; they were W1ise lo'
ihr second week Of November lhan many i sn pg
s''I9 70, ,arfati,ns of the most active stocks on
, ne Exchange. gives comprehensN" we" o'
the market: