New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-02

system east and west reported the phenomenal
decrease In net earnings In May OF sl.eS5,5s5;
Fries net decreased S1S3.6eS Reading. including
the Coal and Iron Company lost s19s3I2 in net;
Chicago, Burlington and Quincy decreased $685.
S65. and Wabash lost $1o2,si9 in net. Chicago.
Milwaukee and st. Paul reported the compare
lively small net decrease Of S3,053. and few OF
the minor roads made tolerably satisfactory ex-
hibits
The Tribune has printed the gross earnings OF
hfty-hve companies systems for the third week
In June OF the number, eight companies return
gains Of S52,57l. or go per cent. and forty-seven
companies losses OF sl.351737 or 225 per cent.
The total number shows loss Of s129sl66, or
1873 per cent II has printed also the gross earn
ings of sixty-three companies for the second
week in June. The total number shows loss
Of Sl,525,S47 or 22.3 per cent.
Third week in June
q s companies sss 1 sssSis Bs: 5 &c
Total 50 co'ssS sos 2s7 s5isoio1 Dec sI2ooiOe 1919
= sS%Ss6:: rs RS stss B @e @ 4! rs
Total 81 cossosi2.C'5 s5,aro7os si.525,s47 22a
THE WEEK IN WALL STREET
It is not surprising that Stock Exchange specu-
Is almost inexplicabe that values hold firm
under adverse conditions. The transactions for
the week were less than 100000 shares and four
teen stocks contributed nearly 500 900 shares 10
the total record Nearly every incident Of a
nature 10 repress confidence and repe the In
vestment Of capital. The United States Senates
tax an Indication Of a SOcialistc spirit
among our legislators which may well tend to
alarm wealth and lessen its productiveness;
The existence Of this sentiment suspected
after the election Of 1892. and while for a time
Il was held in control. it seems at last 10 have
burst the bonds. The same spirit has become
rampant at the West where about two dozen
railroads have been tied up means of CO.
ercing settlement Of wage disputes with car
manufacturing company The interference on
immense scale with railway transportation
Witnessed last week is the logical result Of the
neglect Of duty when the Coxey movement first
started on the part Of lagaly constituted au-
thOrties and Of cOWardiCe on the part OF some
railroad officers. The struggle may invite more
disastrous consequences If the threat OF the
trades-union strike in Chicago Is carried out.
The spectacle at the West can hardly fail TO
have a lamentable effect foreign views Of this
country's condition. or course there can be
no doubt that In the end the right OF property
to control It's Will be established. There Is
an immense reservoir If idle railroad and other
labor - draw upon and II the authorities DO
their duty In depressing violence, the supply VIII
soon break the force Ot the boycott. LABOR con-
trovarsios are generally the last phase Of after
panic conditions. There must be REIMBURSEMENT
81 wages as tho consequence OF the lessened IN
come and profits of capital The railroads may
now be encouraged to grapple WIN the problem
OF labOr's cost and IN the end the strikes may
secure 10 the roads a lessened expense III
operating.
The relations Of the new labor troubles TO the
National Treasury are not obscure. They VIII
tend - obstruct business and lessen the Natlonai
pendtures II the Cove nment In June exceeded
the receipts by Sl551S32. For the hscaI year
to date the receipts nave Oeen F994'o'oo9 anu
tho exponditures 1857 .5T5.421. an excess or ex-
rendifures Of s72.I19.159. The labor crisis VIII
rcfard the revival Of confidence and tend 10 Keep
Furope out Of the security markets. In these
cirrurn stances II Is idle - say that the gold
movement is over. regardless Of other consider
ations French exchange last week permitteu
and II still permits. the export or me precious
n,..al Even the Interview" OF President Cleye-
land last week produced only a trivial specua-
tive rally. To thinking men 1t shows blindness
voluntary or arising from ignorance. 10 ,he uIr
state Of our finances. Mr.. Cleveland may rely
upon figures furnished by Il Treasury Departmsht
already proved 10 BE- incompetent. In no other
way can ne figure OUT currency ph,"'o va ~ boI-
cess OF current liabilities minus the gOu pll- |
ance u S5SO 900 The true currency oalahce
has fallen to about NS.So0OOO. but Included III |
This Is slg12S432 in fractional silver ana minor |
c'i,s distributed in various Sub-TreasurieS |
through the country and unavailable for tIoverI, o
rnont purposes There Is also incudel >Zo foI'-y
deposited by the National banks 10 reuGen nn
bauls-note circulation-a sum whcn - 49, -,
"a ,r,,ef fund however II may be treated III lreaS,
urv statistics Deducting these TWO lteils, anu
no Presidents Wanted $53VWVVo shlnNs "
sq an o0O with Tulv interest. pensions ana otntr
80, annual payments TO BE- met at once MI
Cl,veand's statement unfortunately ais0 snom H
.,, ,h, r1ndttion OF the Treasury demands I'M
,nni,,tn attention Granting that the ne" 'dI.t
bin will magically raise revenues 10 en ntr -
Treasury deficit. no one may eNpeCt 'ns o'. -
h,.,r,. a law for another month. By thdt ~ IN
o'hnre IN view II the July payments ana me
,,r,h,blo continued efluX Of gold. does tne ~ u.
ministration expect It's casn paIaiiVT w" - CON
a., ,ruc mat the conviction prevails very etl-
orally that the Administration VIII 90 -
,,hcn ifs hand is forced. but the conse' ~
Ur Ivevelands delay In calling the eN'rs"'u'-.'ty
..ss,on ~ Congress to allay the CURRENCY sVa'V u
lad year ought 20 have taught a Iesson ,a,,,r
In such A narrow and professional spec -
az that Of last week II was nalurdl b S, he
rfnulation Of the Industrial snares T,r,,et
,rnn,nent The confidence 81 the guy br,uyb !
- ~ a. .orifY schedule would be forced throus'.
- s.,,,e was reflected In rise OF "'s pe' -
In American Sugar REFINING whlch wa" $50 ~, the
III O., .,ock The legislative prospects OF nv
a.uN 1tr,st aeer less clear and Distihns
vi - no Feeding consequently Is SUBS lal1t''IJ
a., .,a n sed In the railroad list -. ta'' - cs,t
49, ,,,St attention advancing over p ,lsn
GO Nav statement Of earnings rl'V - !
On ''N - -, = over I per cent because 'l .i'e
Sn""' ~ victory won by the Reorgtn'"H ~
r,,n,nitt.e Other changes were ee"s Ii, ex
.,nni TIN, decline in the amour. "a e"-oto
N' ,r1 supcrfcially favoraole h.e'I.' 80
por'S ~ pr.siden,'s public announcement ~,
u t >-o,inral finances drove the ioc1, 80 |
Interest 10 cover early In the We ,r,ces lost
demand from this source 49, ~ tho pull
u''''r",' T and the ugly developments III tre one
sIou'iI' 1T, merely created staghauon' C W
-, ~ the refusal Of holders Oh $50, $50. 20 tho
n,ar under the provocaton Oh pau so"ahle ON
INABILITY to find avenues lor uv ~ American
,',o,t ~ funds Foreign selling Oh an Trio
ploy LII. ceosel temporarily last Wees Ia
,,ras ~ future interest 10 spe s,,0r
,o,s will be Chicago and Wash'ns 1Vn ,,,,ber
Following is the usual llp'', 10 highest lowest
~, Shares sold Of all stocks the mS U,th the
OF sH SI rr,res OF the week, together Wl'n Wv
an" ,r,rcs az a week ago. prenXeu o' '"'
AGO. nrices Of July !, 1919
"e' THE WEEKLY RANGE
RAILWAY STOCKS.
'Hy- iIsh. low 80 June shares aT
1893 al. est Final ~ 90 as
A. o's