New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-11-18

70 companies So 49, 1872 s75Co5os Inc s9Ss,.e 10
companies. sl4 i32 134V'' Dec loO''' 49,
Total 60 cos 81 45e Ga ss.2a4.5s3 Inc s'''"c' Nv
'The Financial Chronicle computes the gI %
earnings of l39 railroads in October al s'o'of'i
90 ,ncrease Of a. 524772 over the same time III
1894 From January to October 81 1t computes
gross earnings of 1876 roads at an increase VI
$20.l43.436
THE WEEK IN WALL STREET
Rusiness in the stock market last week resulted
r. ;,nnrovement in the standard shares L!qudd-
ton was not heavy and the collapse OF the EURO
moan war scare strengthened speculative temper
ament which undoubtedly would have been more
pronounced had it not been for the strength IN tne
FOREIGN exchange market. which resulted in snip
menfs of gold amounting 10 $3.25o'00O Inc VIII
drawals of gold on Friday had no apprecl"pc
effect upon exchange rates ana IL 10" sv '
tbat the movement of gold abroad Will continue
this week I'm possibly larger amounts imam I"H''
With the exception of two instances, houses ''.'-
nected with the Government pohd :! az
have not shipped gold, until last week. since t,Ie
contract was made with the secretary OF me
Treasury while at the present these houses ar
authority for the statement that the settlemen.
of their obligations has been deferred uhtl II
is M longer possible for them TO refrain from
sending gold. They hoped that the moNeHen.
Of cotton and grain would bring into the MARK.
a sufficient supply Of bills to meet ,ne
demand but in this they have been disappointed
and again the already reduced goid reserve mus
he drawn upon to settle foreign oplgdtohs.
Fortunately the public commence III Pic"'ii'
conditions and in the prospect for the future -
such that gold export movement does hot
hiring the decentralization and general ureaslhesS
that II did last winter when the lr|asui! , o''i'
balance was so dangerously low, ara Whei
Congress was in session from which no reineuldi
legislation could b. got. and when there wa
nothing to look forward to but constantly ,, u
creasing gold reserve and a rapidly expanding
revenue deficit. Then in its financial c0fnpH-
cations the Government was only too Wiling L,
accept the bankers syndicate proposition ana
Ifoof hN
and its gigantic financial power. was dOIe ~
control the foreign exchange market ana by l'S
operations restored the Treasury gou les ,
ard to certain extent, the confidence
of the public The trade balance aedl"S,
this country continues TO grow, however ana
settlements must be made In gOid. Tor our eA-
morris do not furnish sufficient exchange to meet
requirements But in the face or ths' ana ue
spite a growing revenue deficit, the demand ~.
gold upon the National Treasury Will not ailecl
sentiment as 1t did last year, for the future Is
more clear and conditions now seem 10 De r.
solving themselves into something tangible upon
which the country may hope to be deHVertu
from the ills which have beset it for the last TWO
years. 80
The range Of values in the stock market are
attractive to long heads and to people who are
trusting in the future. The present price OF NV
id cnd-paylng stocks is being taken advantage 81
to a moderate degree. but such buying Is lost
sight Of in the Overwhelming majority ui puiCH
n1ofessi0nal transactions which are made In the
market. The present returns OF railway edrhI"tS
from the standard railways. as well as from
those which undergoing ifOlSdh'Hdh'"'
almost without exception extremely laNo'aoe
and reflect the increase in industrial prosperity
The large gains made by the Granger roans 40
not represent the grain movement alone Dul
great variety of products. and manulact-
ured which swelling the receipts OF thc
companies treasures and forming the DaSiS 81
increased dividends fer the stockht lders; ana the
same may be said Of practically all railway
properties Another important FACTOR IN ran
ways az tending to increase their Investment
value. is the growing tendency TO put ther
ma hands
efficient ADLER hands The reckless management
Of many Of the big railway systems Of the
country which in great part Responsible
for the receiverships and scandals or the pane
period, has served the purpose OF teaching d
useful lesson. the effect of which Is already 10
be noticed Progress has been made In the week
with the Reading reorganization plan, when VIII
most probably permit OF its being made puDhc
before long. while the affairs OF the Nor'herA
Pacific appear to be brighter as contennlng IN
terests are exhibiting more friendly spirit ana
ell classes of security holders may soon be unite1
in reorganization plan satisfactory 10 every
one. The Ncw-YOrk Lake Erie and western re-
organization has made satisfactory progress, a
new company having been formed in the week,
and when Congress assemblies actiVe steps IN
Union Pacific reorganization Will undoubtedly
be taken up The complete returns OF ralIrotd
earnings for October are the best OF any month
since Improvement set in, and, according TO Inc
Financial Chronicle for 135 roads, operating
l04 COS miles Of road. the gain in gross earnings
Is over $3.50 900. 6.59 per cent. The most Nat
terng returns wer. made by Chicago. Burling
ton and Quincy, the Great Northern New-iork
Central. Northern Pacific. 81. Paul, Illinois
Central Wabash, Rock Island Pennsylvania,
Missouri Pacific and the southern Railway.
Transa ctiOnS in stocks last week amounted to
! 1928 533 shares, Of which eighteen stocks fur
nished the greater part of the business. The
easier feeling abroad reflected in the mar
lIet ard the ma jOrity of standard stocks recOv-
cred, principally covering by foreign and local
shorts. from the declines Of the previous week.
The upward movement was slow, and gains were
very small but at the close Of the week the mar
ket presented far more favorable condition
than a week ago There was liltle better sup
port u the market from outside sources, but
most % the buying VAS for the speculative az
count. considerable support coming from = spec
ulatve bull pool Tn industrial stocks were
irregular ana generally the weakest features on
. the list. OF the active shares Manhattan Ele-
waited was the only 10 suffer q serious loss.
and the decline IN this stock If about per cent
WAS not surprising in view Of the miserable
showing made by the company In the last fiscal
year and In the last quarter. The anthracite
shares Reading excepted were higher. and the
Changers and in fact The general railway LIST,
were up about pc cent over the closing price
T. week go. pacii Mail advanced or re-
ports Of renewed negotiations between II ana
Panama Railroad. ard TeInesse" Coal and Iron
ana other iron companies showed stock values
were higher on better trade prospects
The following table shows the movements %