New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-08-25


AS follows: Exchanges, $S3,30l.l74 balances. ~
O50.915. For the week: Exchanges. $500 .Oioo.o;
balances $50, 3cll74
The total exchanges OF all the bank clearing
houses OF the United states for the week ending
to-day have been s507 $50 $685. against 1906 s59Ss'
last week and $7s2.4asll7 the corresponding week
last year.
ON THE STOCK EXCHANGE.
Settling up contracts at the close OF the week
gave strength 10 the stock market to-day Trans
actions. however. were purely professional. and ID
few stocks amounted TO more than 1000 shares
The Granger group. under the leadership OF 81
Paul. which showed an increase in its earnings
for the third week in August. developed some
activity and closed at prices fractionaly under
the best prices OF the year. The IndustraD
moved with their accustomed irregularty. sugar
Refining being " per cent lower at the close than
yesterdays last price. and the rest OF the group
with the exception Of Distilling and Cattle Feed.
ing. showing small gains. The bears SUCCEEDS
In depressing Northern Pacific preferred on ths
report from the West OF a suit begun TO restrain
the Great Northern guaranty. This action nas
been brought in the Federal Circuit Court at 81
Paul, and Is to prevent the consolidation scnens
between Great Northern and Northern PACING,
and charges are made in the suit that the holders
Of majority OF the outstanding second tniro
and consolidated mortgage bonds OF the Northern
Pacific have entered into a plan OF reorganization
which will tend TO improve the value OF the STOCK
OF Great Northern. The suit may help the ~
organization OF Northern Pacific for IL will bring
out the question OF the charter right OF Great
Northern TO guarantee the earnings OF the North.
ern Pacific. This may not be necessary, as
has been asserted on excellent authority that tho
proposed deal between the companies has bees
declared off. but at the same time II will settis
an important question concerning the charter
right Of railroad companies under the laws o!
Minnesota and set the people OF the Northwes'
at rest concerning their rights to enjoy the oene
fits OF railroad competition. Lake Erie ana
Western Issues were strong again to-day. anu
closed at net gains for the week OF 33s and os per
cent for the common and preferred stock, S
spectively. -, sfAv
1t Is expected that the reorganization plan -
the New-York. Lake Erie and Western Railroao
Will be made public next week This plan nss
received a hearty RESPONSE from the foreS"
holders OF Erie securities and there will proV
ably be no objection to Il here IL provides Lc'
an issue OF $4,000 900 prior lien bonds and sis~
100000 general lien bonds to cover the eptiO
property. the general lien bonds to bear PEI
cent interest at first. increasing to per cent
The assessment. as mentioned before In TINS cvss
umn. will be $12 share on the common and eisuss
dolarc share on the preferred. 1t was reportse
from Boston to-day that the New England proy
erty would be finally turned over 10 the NV
corporation next Sunday night. and the n ns"s
Board would be announced this week ~
amount OF stock held by the new Interests ~
New-England was said to aggregate l'"W"
shares. ~
The foreign exchange market was quiet "
day The bond syndicate deposited at the ev w.
Treasury In San Francisco $500 900 In gold for r.
own credit On Monday the managers OF ~ ~
syndicate will. II was said to-day. repay W - 80
members Of the syndicate the remaining VIZ
cent Of the money. ADVANCED hyS thspsseoeD,