New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-09

tnirty-e!ght railroads or systems for the fourth
week In August or these twenty-four return
gains OF 6009 "a per cent. and fourteen re-
turn losses Of s1G7,573, or 10 per cent The whole
shows gain gain of siss.43s, or 2.s per cent.
., Fourth week in August-ls9i 1895. Changes: p.
II companies 2'si2,sai 2'ii5.25s Dec 1878 ~
Total IS CO.'S. .s7o7ssaa s727e.77o sies 43e rs
ON THE STOCK EXCHANGE.
The Willingness of the Government bond syndi-
cate to furnish the Treasury with enough gold to
offset the Withdrawals of the precious metal for
export to Europe prevents Stock Exchange values
from seeking lower level. course which they
generally have taken with foreign exchange rates
permitting heavy exports Of gold. There was
more activity and better prices in stocks last
week, and an increase In the outside demand was
one OF the encouraging features of Stock Ex-
change business. The heavy exports Of gold to
Europe had no apparent effect upon the market
Tor the syndcate's operations continued to Offset
gold Withdrawals. and although the reserve Is
now slightly below the 100000 900 limit the syn
dicate has expressed It's determination to turn
over more gold 10 the Treasury. The continuance
of the gold export movement has led to consider
able speculation to the syndicate's attitude
toward the gold reserve after October |. when
tho contract with the Secretary OF the Treasury Is
supposed to end. and there are many people in the
Street who believe that all further efforts the
part Of the syndicate to protect the Treasury will
then cease. There Is no reason why any such
conclusion this should he reached. for there is
no official Information that the bond contract
will be at an end on October beyond that portion
OF II which grants the privilege 10 the syndicate
az taking any issue Of bonds which may be made
before then. As far this last feature Is con-
cerned the contract expresses that II shall be AT
an end on October |. but II says nothing MS to the
expiration Of the general contract II the condi-
ton OF foreign trade makes gold exports ecessary
after October /. the syndicate Will. according To
the authority Of one Of its members. continue 10
furnish the Treasury with gold.
Rates in the foreign exchange market continue
lf..l.s hn htfA
Of the year. Thu demand for remittance has not
been particularly heavy. but the supply Of bills
has been extremely small and chiefly confined To
bills drawn against gold shipments 1t Is unsafe
to make any predictions about the Foreign ex
change market. for not enough Of the grain and
cotton crops has been harvested To make any
immediate increase I'm the supply or commercial
bills. and THE Financial Chronicles statement
Of the cotton crop and its marketing which -
given in The Chronicles usual annual cotton
statement. published in the week shows that the
new crop is extremely backward and that in no
year since 1884 has the aggregate Of cotton receipts
prior TO September been 50 small as TINS year.
Tho indications in the cotton belt show that the
condition Of the plant is not 50 satisfactory as IL
this time last year ard that the yield VIII ne
materially less. Compared with this time last
year the foreign exchange market AT present is
much stronger. In this week last September rates
for actual business were the lowest Tor the year,
the demand for remittance was very small and
the supply Of bills fairly large, including some
bills against purchasers 0f stocks FOR the foreign
account There were more grain DIS IN the mar
X
ton futures. The rates in the first week IN sep
TENDER in 1894 at point where imports OF
gold were beginning 10 be Inquired upon Whllc thlS
year gold exports being made. over Si,5OOOOo
Of the metal going odt last week. Frosts cannot
now affect the crops. and present estimates Tor
corn are even larger than those made month
ago. the yield promising to be enormous whle
wheat estimates have also been raised over 40
coo 900 bushels The condition Of the crops is
ern.nently satisfactory and the general Industrial
conditions bright and promising Bank clear
ings last week were per cent more than IN the
previous week and Is per cent more than in the
corresnnnding week in 1894. while railroad earn
ings showed a corresponding increase The boom
in iron and steel continues prices both for the raw
material and the manufactured product showing
further advances last week. with an Increased de-
mand in all parts OF the country.
Value Of stocks made an average gain or ABOUT
Ga cents a share In the week Oh comparatively
large volume Of business. Stocks which have
been Inactive for the greater part OF the summer
enjoyed considerable activity. and almost without
exception advanced toward a higher level. Such
stocks as Alton and Terre Haute colorado 1oaI
and Iron, Erie Telephone and Telegraph Flnf
and Pere Marquette. Illinois Steel. Minneapolis
and St Louis Minnesota Iron. and Ontario ana
Western were ali active. and showed substantial
gains from the previous week. The chief inter
est was In the anthracite shares. transactions in
this group for the week amounting to over I9o.Cco
shares. Reading furnishing the greater part OF the
business In the early part OF the week the move
ment in all the coalers was such as to indicate
some announcement Of importance on the antnra-
cite situation. but no developments were forth
sole itself with talking about and hoping for
definite announcement concerning the read
tustment Of the coal trade in the near fut-
ure There is good reason to expect the
publication of the Reading reorganization plan
before the end of this month. and when that plan
is brought forth the anthracite agreement VIII
probably also be announced. The Granger
shares with the exception Of Rock Island. made
little change In their stock values during the
week st. Paul being fractionaly higher at the
close, while Burlington and Rock Island were
lower the last-named losing 4 per cent In the
week. Rock Islands earnings for the fourth |
week in August showed a decrease, and st. PauTs
an increase. London was persistent seller of ST.
Paul all the week. but it received good local sup
port An advance I'm Pacific Mail was made on
the report that the directors OF the company were
considering the declaration Of a dividend which |
the recent earnings Of the company would seem |
to Justify In fact. directors Of the company said |
that there was sufficient surplus in the treasury |
for a dividend payment, but they are considering
whether or not II would he better to devote the |
Increase I'm receipts TO betterments and Tor the |
purchase Of new steamships Tennessee Coal and |
iron reached its highest price Of the year, and |
scored n net gain OF over per cent. which makes |
a gain since January Of over q per cent General |
Electric scored the largest gain OF the lndustrials,
considerable Of the buying In that stock being for
the interests connected with the companys man |
agemcnt Northern Pacific stock and bonds were |
higher and the legal victory OF the representative
OF the stockholders over the receivers OF the road
kept the affairs OF the company and the progress |
OF It's reorganization prominently before the pub |
lie Il does not seem likely that the road VIII |
be reorganized on lines detrimental TO the owners
Of the property and present indications point
toward a complete victory for the head OF the !
company in his efforts to have the old Willard |
eliminated factors In the reorganiza-
ton OF the system
The following table shows the movements OF the
PRINCIPAL active stocks In the week: