New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-03-16

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Cash in s2es so2s5s s2a4 445i4i Inc. so52 2sa
cnal banks.. 29osa,s52 27i2ssos Inc 2osSolG
Available cash. scss 4scs7o s2s57oOs Inc. S. 800
Siiiies 27425l5e 27.Osesss Dec ass PCS
Actual cash saGl oila54 s2c 4s7i2l Inc s347550i
THE MONETARY SITUATION.
Money call representing bankers balances
ruled at 3G4ia per cent. the greater part of the
business being done at between and PER cent.
The banks holding the Government bond de-
posts liberal lenders. Banks and trust
companies quoted per cent the minimum.
Time money was inactive and easy. most CON-
tracts being made at %2 per cent for
thirty to sixty days. per cent for three
months. and AZ per cent for four months The
demand for commercial paper light. and
all offerings subjected to the closest scru-
tiny the recent mercantile failures making it
necessary TO be unusually cautious. The supply
Of choice paper small. Rates ruled at
5l2G6 per cent for all periods for high-grade
paper There was no market except for choicest
offerings In England there was little change
In the money markets. The Bank Of England
continued its minimum rate of discount at
per cent, while discounts of sixty to ninety day
bank bills ruled al 1l-l6 of per cent. In Paris
the open market rate was 15sQlA per cent. and
IN Berlin and Frankfort per cent. The Bank
Of England lost in the week 1879 bullion. and
held at the close f4Ss7l.S52.
The market for foreign exchange remained
dull and inactive. with closing rates practically
unchanged from the preceding week. There
were a few cotton bills in the market. which,
however. were held too high to find ready sale
and of other bills there was a great scarcity.
The low rate for call money here and the light
demand for mercantile remittance were factors
which contributed 10 the inactivity. Closing
rates for posted We're 81 S71a@S4 IS and 81 $50
81 So for long and short sterling respectively.
Closing rates for actual business were fol-
lows:
Sterling ......... 4ssSIss4 lSGEa..S;, 4S7s.oiSs
Reichsn,srks 1855. o.. os.,
The bank exchanges II the New-York Clearing
House and the stock sold at the NeWYOrk Stock
Exchange last week and for the same week OF the
preceding two years compare as follows:
March H. ~ March 10 % March "A. 90
10, shares Sold 9io.97G i.c27, ~ i.2i455s
RAILROAD EARNINGS
The Tribune has printed the gross earnings OF
sixty-seven railroads or systems for the fourth
week in February OF these hfty-seven return
gains of 81 6C 800, or 1919 per cent and ten re-
turn losses OF slsS7i. or SO per cent The whole
shows gain OF 81. 1926. or lS.5 per cent. Inc
Tribune has also printed the gross earnings OF
ffty-one railroads o. systoms for the first week
in March. Of whcl. twen'y-Seven return gains
OF $slSlos, or 49, per cent. end tweniy-four re-
turn losses OF sllO.9S1 or Al per cent The whole
shows a gain Of s207l12 or Al per cent
Fourth week February
3, companies .l: So .e5s 1879 l5 RHs se s
10 con5snies..,. sisi'2 2o9'2 '' Dec 1854 30
Total ca co s.ssla545l s7.2sGs77 Inc. $l1442G ls5
First week In March
81 companies. SO So $ct So ooS 45s Inc Sis lG ~
Total 2, 70 s. IS COS sss s5225Il Inc s2o7172 ~
The Financial Chronicle" computes the gross
earnings OF 12s railroads for February at $780,
2571s1 an increase Of A199l77 as compared with
the same month OF last year. For two months
ending February 20. the gross earnings OF ~.
railroads were S73 1881. an increase OF $sO451H
as compared with the corresponding period last
year.
THE WEEK IN WALL STREET.
Investors were not attrac to the stock mar
ket by several favorable developments In the
week The investment account was practically
neglected and the course Of trading reflected
nothing more than the operations of the profess
slonal element 1t a speculative orgie. Well
engineered manipulation In few stocks MADE
up the sum If the business. and while extreme
duness ruled in other shares, values were well
maintained throughout the list. OF the total
dealings, 121455S shares l,O3s,S56 shares We're
contributed by fifteen stocks. and the Industrial
stocks alone furnished sS2053 shares. mace up
chiefly Of dealings in American Tobacco and
General Electric. The railway shares OUTSIDE OF
the Changers. Baltimore End ONO, LoulsViis
and Nashville, Missouri Pacific, wheeling ana
Lake Erie and Northern Pacific were neglected.
all interest being centred In the STOCKS OF which
there were enough shares in the nanus Oh tne
speculative element TO make a good SPECTATORS
market. The events OF the week were encouids
ing 10 degree which should nave brought soou
tuying orders. but IL seemed as II Investors were
satisfied 10 make new ventures, 10 hoIu 'nei
securities and 10 let the course or manipulate
run uninterruptedly until they had attained the
results desired The constant pratue OF Ger
tain element. which is allied 10 the cause OF our
ness ana depression has doubtless had an e'iec'
Upon investment sentiment but IL mas hot III
ouced liquidation as hoped for by the operators
Tor decline. but only served 20 check any pur-
chasss which investors might be disposed 10
make There Is altogether too much Importance
attached 70 the talking Congress. There Is no
reason for uneasiness over the progress or me
warlike deliberations of certain politicians
and there should be no fear that the price or
railway securities. wheat and cotton will fall 10
minus quantities II the country decides to MAKE
appropriations for coast defence and new battle
chips England has Appropriated upward or
tooO0OO Tor additions to its navy, but II Is TO be
noticed that the traffic earnings OF the railroads
have not fallen on. and that Industrial activity
has not been retarded. Here however are
Informed by the pessimists that any demonsra-
ton toward improving the defences Of the coun-
try, any expression OF favor toward the down
trodden little island Of Cuba means industrial
and financial paralysis. While this class OF peo-
pie feel so wretched the dark diplomatic
Atmosphere" II IL refreshing to notice that divi-
oends are being resumed and increased, railroad
earnings growing larger and various branches of
industrial activity reaching out. OF course there
are unfavorabe factors In the general situation,
such as the excess OF Government expenditures
over receipts. depression In some mercantile CEN
res. which has resulted in several failures In the
eet week, and q more or less waiting erket In
varfous departments Of business. There is no
Soubt that the adjournment Of Congress would
materially benefit the financial interests Of the
SSatry, that an adjournment Of the State Legis-
In e ,or ~ 20 - ~ cno san