New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-01


,.r,,,~ - c :s:s Long ! sa.;; Short Ss'a
s s:;9s: 1900 ~ "' IS
RAILROAD EARNINGS.
! The Tribune has printed the gross earnings OF
seventy-two railroads or systems for the second
week in June OF these sixty return gains OF
seO5.o47, or AZ per cent and twelve return
losses of $l57.974 or ia per cent. The whole
shows a gain OF s5O7, O23. or So per cent.
The Tribune has also printed the gross earn
ngs OF fifty nine railroads or systems for the
gains OF .5s9Os7. or J4s per cent and ten return
losses Of 1924 259 or ST per cent The whole shows
a gain Of 1864. sos, or 81 per cent
20 70 SS%ss":: ss ssS Dec Dec 'Ssss Is
Total 70 cos. s'sos1'a ,s4ios2e Inc. so7o7s IS
s,ra wfes =" , s oss Inc .ssoos7 s
10 companle.. i427.I.o i3o2.s0 Deg. i2425S 81
Total 10 COS $3.50 49, s5e5aoa5 Inc. s4sssOs 50
/ ON THE STOCK EXCHANGE
( The week on the Stock Exchange brought for
ward with great prominence the stability Of gen.
eral investment properties In face Of determined
efforts to lower prices. only the speculative bub-
bles Yielded to the bear pressure and none OF
the sound Investment properties showed any
material losses as the result Of the raid on the
Industrial shares. The effort by bear clique
to depress these speculative specalties was
eminenty successful, and all small holders were
forced "a lquidate in a way which. while disas-
trous TO them. had the effect, it Is hoped, OF
teaching lesson TO the dabbers in these ma
nipulatel shares. Large holders. who were dis
appointed with the result of legislation In ILL.,
nois. threw their Chicago Gas holdings upon the
market and the bear contingent accomplished
the rest Prices were smashed right and left in
the Industrial group. and Chicago Gas lost over
II per cent in the week. and Sugar Refining over
I per cent. American Tobacco lost 2& per cent,
ard United States Rubber ~ per cent. The
course of Chicago Gas In the last week has DIS
PEELED the idea that the people who recently
d came into control Of the concern Will make X
purely investment property. II only needed their
defeat in their attempt % control the Illinois
Legisla ture 10 make this fact more patent, FOR
al the first sign OF successful opposition they
threw their holdings ard practically re-
tired In disgust without any effort to make the
companies something more than an aggregation
Of inflated values. Chicago Gas. Ike the majority
! OF the present Industrial list. might be an at
tractiye investment II II could be divorced from
the influence OF professional spectators. sugar
Refining which appears 10 dazzle and deceive
the whole street. ard Ms an unlisted security. has
been the most active stock dealt In for the last
two years representing company when pays
large dividends and yet refuses 10 give It's stock.
holders any idea of It's financial condition.
started IN last week for one ~ lis sensational
lambs who. blind IL the fate OF others. ventured
In IT, Thousands of dollars have been made Ia
this stock but only by the insiders who can
control stock market. Distilling and Catus
Feeding may be- taken AS an exception az pres
ent 10 the Industrial shares which are being 80
ably manipulated From all indications Its reor-
ganizers doing what they can TO make II
something more than a bubble and the forma-
ton Of a new company last week 10 take up the
assets Of the old was favorable step IN the d.
r.cton Of successful rehabilitation OF the con-
Germ.
The general condition Of tho country is such
that legitimate investment properties have been
able e. maintain their stock values and their
showing I'm the last week was encouraging. The
settlement OF the rate question by IN" great
Eastern and Western Trunk Line associations
was an incident of the highest importance ana us
effect uIcn the value ri railway securities mas
been far reaching and has won more commence
abroad for American investment properties.
Foreigners have not figured 10 any extent In our
stocks for the last few weeks. but there has been
4 good demand for bonds and the end or last
week brought forth more London buying OF
stocks The agreement 10 maintain rates ana
the probability 81 a ready settlement OF the an
| thracite coal troubles have given new interest
| to the railway shares and all efforts T. depress
them last week were futile. An anthracite SET
Element ~ now being actively discussed, ana WIN
Mr. Morgan's help IT will probably be accom-
plished within the next thirty days. Such a set
/ Element will likely involve the control ana re-
organization Of the Philadelphia and Reading
! Railroad and the activity Of Reading shares IN
the last month will then he explained. Bankrupt
/ railway properties are making progress toward
successful reorganization. and the Erie, Read
! ing and Northern Pacific companies will soon
: be- on the high road 10 II final financial recon-
struction. As regards the Northern Pacinc pan,
| there appears to be some uncertainty as 10
when II will he announced the belief being that
Mr. Morgan does not wholly believe In the ad-
! visibility of turning the company over 10 the
Great Northern az proposed In the ADAMS pan
7 Bank clearings. railroad earnings and crop con-
ditions continue favorable. The report OF the
Pennsylvania Railroad Company for May. when
shows an increase in gross earnings OF si4o9''o1
as compared with the same period last year, 10
striking proof of the improved general conoi-
tions. and other large companies showed the
same substantial increase In their May state
ments. In connection with the railway state
ments which are now coming In. IL IL interesting
10 note an increase in expenses which must nave
an important and beneficial effect upon lapor.
; BY the operations of the bond syndicate the
contract with the Secretary ~ the Treasury has
now been practically completed. The Govern
,nent's gold reserve has been restored. The full
amount Of gold contracted for abroad has not
been imported. and American gold has been de.
posted in lieu Of II. Whether or not the rest
Of this gold will be brought from Europe no one
except the syndicate and the Treasury oficers
knows There is nothing 10 lead 10 the belief in the
present conditions that gold exports VIII De-
come necessary. and all signs point toward
normal movement before long OF the precious
! metal from Europe here. The Treasurys actua!
cash balance now stands at sl93s26.592 but Ok
! that amount the greater part represents Dor
rOwcd money II required three bond issues III
a little over one year to finance the Govern
! ment under the present Administration. when
, practically allowed itself 10 go into receivers
| hands Democratic principles II finance ana
! economy have had a trial. and the end 81 the
, fiscal year makes 4 lamentable showing for
them. Secretary Carlisle estimated that the
: workings OF the Wilson Tariff law would bring
In $40 OO0.0 900 In customs. internal revenue ana
! miscellaneous receipts and the actual receipts
! in these items have been s3l 6962I6 making
deficit Of S44 494 1S3 Thess figures are taken from
I Yesterdays official Treasury statement and do
: ha la tuo Df he
! which will show in Tuesdays statement.
| The movements In the week Of the principal &C.
| tive stocks are given In the following table;
| stocks High Low. J'ne y. J ne - ,h'Es Sales.