New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-15

forty-five railroads. o. systems, Ior the hrst
week in July, of which thirty-five return gains
of 1894 430 29.4 per cent and ten return losses
of s9sl9S. or 1l.s per cent The whole shows
gain of $745,232, 21.7 per cent. The Following
table gives the earnings in detail:
s;S. :: IFS Ss Be- d,
Total sS CO.'S sOola 7s7 s7oa7.o5s Inc sia4.los 10
& ss Inc: ssss tss r.
Total As CO.'S .s3475504 s422o 100 Inc s74S2aa 2i7
ON THE STOCK EXCHANGE.
OF the principal active stocks traded In last
week the greater number closed at net declines
for the week. but. with few exceptions, losses
were only fractional and reflected nothing more
than persistent attack by bear operators
There were no disturbing features sufficient TO
bring about liquidation. and the efforts OF the
operators for a decline did not make any i'm
portant losses in the standard stocks; the
course Of prices on the Stock Exchange has not
been materially changed for the last two months,
except in the issues which are easy marks for
bear manipulation and careful observers of
stock-market trading dc not expect pronounced
advancing until the foreign exchange market
has eased and the summer season has gone Inc
condition Of the foreign exchange market IS an
important guide for the movement OF prices IN
stocks and it is safe TO say that with easier
rates for exchange higher prices VIII preVai III
for actual business were the highest on record
and the firm of bullion brokers when made
small shipment of gold found II cheaper 10 eN-
port the precious metal than to take the syhdl-
Gates bills In its control of the foreign ex-
change market the syndicate has put the rate
for bills above the gold exporting point. anu d
few firms not connected with the syndicate.
which have obligations to settle abroad. nave
expressed considerable criticism OF the syndicate
for exacting such high rates for exchange. me
strain the foreign eX hange market mas Den
excessive, but the syndicate has SHOWN us adj
ity to prevent gold shipments by us members
and many firms which take the syndicate's bliIs
do so rather than cause distrust In the business
community by making exports OF gold Inc
syndicate has been eXacting because the opera
tons in furnishing sterling bills VIII nor &c
profitable, and. In fact, II expects loss when
the whole transaction Is finished up. TO De sure
its profits on the sale of the bonds nave peeh
large. but that Is a matter which the Demo
cratic Administration Is responsible Tor Inc
syndicate managers evidently argue that the
profit they made on the bond TRANSACTION ~ ho'
10 be used for covering loss when wouia De
involved II they were less exacting In their con-
troll Of the foreign exchange market There may
be further small shipments Of gold but they are
doubtful, and even II gold should 20 gu, ,, tne
Treasury's gold holdings are In such condition
as not to suffer by the shipments when sihaH
houses outside OF the syndicate might MAKE.
The houses which are usually me heavi.s'
SINNERS Of gold are members OF the syndicate
and II Is not TO be inferred that they Will Drs"s
their contract. and 1t is believed that no matter
how eXactng the managers OF the syhusca.c
TO settle abroad will continue to draw syndicate
bills. The high rates for exchange however
are not likely TO continue long. for naturaf causes
will, from all indications. soon cause cnaiee
in the market and bills may be got al price
which will be at rates most satisfactory; Inc
sales Of Southern Railway and PennsyiVhniu
Railroad securities abroad will most likely DE
followed by other sales OF American railway
issues in Europe. and security bills on TINS ac
count ought to come into the market IN soou
supply and then the movement OF the crops
ak
The small shipment OF gold yesterday had no Ell =
feet upon the stock market and the hoiueis VI
securities of good properties were not irleh'-
ened out as local bear traders had hoped Dur
ing the week the industrial shares anorded 'he
hear element all the opportunity desired h'i~
| the closing prices showed losses OF cons'icraDic
| size limited States Leather suffered the most
| the preferred stock declining over I per cent
| and the common stock over per cent: iherc
| We're various rumors spread concerning .ne ~ ~
| erty, and the most effective one was tna' 'ns
/ company contemplated issuing large DOCK OF
| bonds This and all other reports received
prompt denials from the officers OF the cohceih
| Cordage securities were about as low as they
| could get and the proceedings or the riVal IN
| terests namely the Reorganization committee
| and the Bondholders' Protective COMMITTEE nau
| little influence on the stock or bonds. although
the Cordage firsts were higher than their lowest
| price Of the year. Chicago Gao declined merely
| on bear manipulation and Sugar Refining, wnich
was the most active stock In the whole Hs''
| lost IN the week over per cent. In the railway
group Reading the most active. ana over
| 157 900 OF its shares were traded in. The fact
that Mr.. Morgan had conference WIN h.,a ~,
| Olcott-E Earle Committee OF the Reading heipen
| the belief that Reading reorganization ahu an
thracite coal troubles Will soon be settled uhder
| the leadership Of Mr.. Morgan and there IL the
| hest authority for saying that the settlement
| OF these two questions will be accomplished De
fore long and on lines satisfactory to the great
est number Of people Interested Inc opeIa.or rs
| for a decline endeayored to depress the Grahgers
| and other standard stocks, but they met poor
| success and these shares demonstrated me con
| fdence which the gchefa puDhc haS III '"e''' "
| sound investments. 80,
There was some good buying OF Louisville and
| Nashville during the week. and the company
| yearly statement. which was punnsnea on 70 -,
| day was favorable. as well as the statement CT
,ts gross earnings for the first week In July
| which showed an increase OF over siooV"' me
success OF the REORGANIZATION Colhn.t,ee oi w
| Atchlson. Topeka and Santa Fe Railroad In i's
ranuest for deposits under It's plan OF reorganiza-
| lion has been extremely gratifying ana the I'M
| nroved condition OF the property ana us PIos-
| nacts for the future helped the stock 10 score
pc. . 80 fnr the week New-York and New-Eng-
| land was sold at foreclosure on ihursoay, anu
| yas bought In by the Reorganization Coih'hit,ee,
| A now CORPORATION will now be Formed whic'
III, ~. rrv ont the reorganization plan and issue
| the new securities az provided by H. VINE ~
| has not been publicly announced 'sat '''e ~ a..
| Haven interests have the control or the roau' !.
| 10 generally believed that Mr.. Morgan noids ~
| for them and that its future course VIII DC -"
| harmony with the New-tng!aho I.oau, i,n,.d On
vay properties the stocks or which are 's 49,, va
| IN. Stock Exchange continue In the main W
chow Increased earnings, and OF forty-hve com
manes reportlng earnings for the first week IN
July thr,y-hve show total percentage o, a,' !.
crcsso Of % per cent Industrial developne ~
| T., he week nrc favorable and the reports OF the
rrops were encouraging. The Governments ia'-
est estimate Is not 40 Favorable Tor w wnrne
| wheat hut shows a splendid condition OF SPIT ~,
| ",ho.t and Of corn The iron Industry SHOWS III
creased Improvement and bank clearn clearing, iao mh
| All over the country reflect better iee''"s """
| large EXPANSION In all lines OF trade. ,. -,
| Tho following table gives the movements VI
the principal active stocks In the week