New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-06


banks which the Government has the use Of
and on which the banks get no Interestingly
467,332.
ON THE STOCK EXCHANGE
The market for stocks displayed some strength
to-day mostly due a covering of shorts, al
though some investment buying was reported
London both bought and sold here. but the bal
ance was In favor Of buying. International spe-
cialties. therefore. showed frmness. NewYork
Central. indeed receded exceptionally II to 9s& {;
but Louisville and Nashville and st. Paul adj
vanced fractionay. This generally helped the
railway list, which closed higher by large frac-
tons. The coal properties were strong. Jersey
Central advanced IA net to S7's. on covering OF
shorts and tales about speedy settlement OF
the anthracite troubles In view OF the fact that
Reading has just shut out Jersey Central and
its assistant company. the Lehigh and Wilkes
barre from her territory. the rumor lacks prob
ability The Industrial group contributed about
$4,000 shares to a total business for the day OF
1865 176 shares. Their movements were Irregular,
as our full quotations below show. but the ten
dency was toward advance. At the close the
market was strong. There can be no doubt tnat
sentiment is improving.
Foreign exchange rates were high, and the
usual declarations Of the possibility Of gold ex-
ports were heard Although the syndicate ala
little In the market. II is expected to sell freely
tomorrow Even II rates were niue higher
than now. exporters might hesitate to snip ms
metal owing to the low price the syndlcates
foreign allies have caused 10 be paid for gold IN
London. 1t is said that on the last million dol
lars which went abroad some weeks ago the
exporter narrowly escaped loss. The money
market was slightly lrmer to-day. but inc syn
dictate apparently made no EFFORT 10 control ~.
AppreCiative comment is due the report or the
PENNSYLVANIA Railroad Company for 1924 tprnted
in The Tribune this morning. for its fulness 81
detail and clearness OF statement. Accounts %
that kind inform investors. while the average
railway report only cOnfuses them-as II Is IN
tended to do Balance sheets like the Pennsyi-
vania's, with their columns OF increase ana az
,calxF rAng hHf he
ment has nothing to conceal. The Losses or this
company during last year were great, OF course
and are frankly set forth in this paragrapn:
Your system shared In common with me en-
tire railway interests Of the United States In the
great depression that continued Throughout, inc
past year The lines west of Pittsburg snow an
even greater proportonaie reduction III theN
gross earnings than those'east Of Pittsburg. ana
while the most rigid economics were enforced ~
their management. the net results are he",iS
s. 600. 900 Jess than for 1893. The aggregate de-
creas e in the gross revenues 81 your entire syS-
tenn is over SIG 90. and with SAVING IN TX.
penses ~ over sl3000,o0 here * loss III h,'
results O! about 81 900 000 This large decrease III
gross earnings fully represents the average ir-
duction In the revenue OF the railroads 81 me en-
tire country. The two facts strongly e'nphasi|en
by these figures are: First, the continued "'
nression I'm IN. commercial. manufacturing ana
mining Industries. and second. the constant i'
durtions in rates that have been forced upon the
transportation interests
I, is encouraging 10 he able To- point out that
the Penns ylvana's report for January ol VIZ
year shows that improvement IN IN" ''Hp'"S
condition has already begun. Its Increase N
gross earnings on the Hines cas-, ana "es' ~
Pittsburg for that month are s6942oS ana IN me
net settle Last year the loss was NLlN''".s IN
gross and a gain OF only slOS2SS In net ms
change for the better indicates thht Icc|'..E
has been made Of substantial pn,uon ~ ", w
losses 81 a wear ago and Is one ,oi thc best bits
NJ proof recently offered OF general improve
,no,, In trade. for by many the trafic returns
of the PENNSYLVANIA Company ar" regarded hs
a fair indication of the business condition ot the
country at large.
BoNDS-THE FEDERAL TREASURY.
Government bonds sold: $4,000 q. registered
a, Il07Sdlllh Quotations were a. follows