New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-12-14

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cent and eighteen return losses of $40 11'. 81.
l2G per cent The whole shows loss Of
H7S716. or - per cent
Fourth week in Nosember-
sI lr 81 o ic 60 m pH sIs7 Sc, r
% c'mIanies... 7eiieai c79eo7e Dec. ll1a.S7e III
Teal COS s., 75oaac $3.50 e Dec. s9aloss 1oG
i companies. 'sle2fSli si7S 300 In. sisl.75l %
Is com'anies.... ail5:5' ee>'7s7 Dec. 1885, L g
Total o. co.'s .s5o447c, s47Gsoio Dec. s27s7iG 80
The Financial Chronicle" computes the gross
earnings Of l21 railroads in November at S11-
".@oEj a decrease OF Sf..,.E;. - from the same
menth year ago. From January 70 Novcrn-
her ~ il computes the gross earnings of III
roads al s43o. .i63, 100 an increase Of Ss,356.-
l3I oven tho same time in 1880. OF the 1T
Ioafs TepOrted for November. thirty-fOur
showed gains coming mainly from the South
ana Southwest. The grain-carrying roads were
me heaviest los re. especially those running
through the spring wheat district of the North
west. In the spring wheat districts COMPARE
sons Of earnings were made with year Of phe
nMnena crops. shown 10y III" receipts Of
grain at Chicago for the month. which were H.
(So156 bushels. against ~ 1919. 44G bushels in
November 1899. but against only ii 31I, E,J
bushels in November. 1894. The improvement
ihfthe earnings in the South and Southwest was
cue u the heaV ier cotton movement, which
moved in November receipts at southern out
ygts Of l.2251 100 bales against 11.41i bales
ID the same month In 1S.'J.
THE WEEK IN WALL STREET.
Actual evidence OF expanding industrial
usUy on conservative ana legitimate lines APP
parently does not convince the speculative and
investment community that the situation war
,srts an active interest in the security market
employment Of capital in the stock market Is
ned In check TO some extent by the sO-callcd
uncertainty over the tariff: but as an argument
o. great force this falls short. for the simple
reason that within all human probabilities the
'arin programme outlined In the Repubi-
can National platform will be carried out within
SIX months by an extra session Of the Congress
erected in November. The Republican partys
,arin ideas are well known to admit or
Doubt There is little possibility of tariff egis-
Atl0n al the session Of the present Congress.
uut there Is every prObab ilky OF the passage by
me next Congress Of tariff with duties which
VIII protect home markets and furnish revenue
% meet expenses. OF equal influence with tarin
aoubts Is the exaggerated Importance attached
70 the Cuban situation by bear operators on the
sock Exchange. The fear inspired by fire
sstlng resolutions In Congress Is not sufficient
W cause any liquidation in the security mar
.et but il encourages hestancy in making new
centuries. and the recent vigorous remarks OF
secretary Oln, a; on Cuban affairs have accentu-
aso prevailing duiness in stock market opera
v vons No visionary situation exists IN Supa'
ie as an argument for keeping out or the
ssock market IL is O. little value. Unfortunately
~ the bear element. its extreme anxiety on
e Ss subject has oniy checked, secur'y p ha.
.uases. instead OF causing liquidation III mas
mace only small profits from its TRANSACTIONS,
sad II stands in mortal fear OF being forced 10
,sIfeat at any time under a renewed puyihs
,novement The public abstans from buy ing,
w " does not sell and large interests dPpeal
seentent to wait and hope for a level OF values
!. which II can buy with heavy profts assured
10 the mean time while narrow fluctuations
SEQ Z small volume OF business prevail ,he
mall traders continue to grow weaker as thsy
isi o. toward the short account ana c1nu
uons apparently work toward state Of anairs
mich will result In vigorous rally
wall Street expects a rally In the stock mar
- - before long because all the EFFORTS OF ,ne
uust to break prices on Washington doings:
"ullstic nonsense and bear stories have faiied
tner purpose. The Street believes thai there
"y et sufficient recuperative power In the go,
sSIty market TO cause a revival In activity. and
Enough at present the bucket shops are the |
sss ones which are making any money IN the
rset: legitimate brokerage houses believe that !
VII ~ harvest is cou.ing-Derhaps with the new
Az. Present conditions In the business ana
~ ncIai community are so Infinitely better than
- .uc TINE last year that q comparison leads
m,s. "e inevitable conclusion that stock prices
49,. soon reflect the many favorable changes
ovs. ssnt ABOUT since this time year ago. More
4sht must be remembered that throughout
~ year. despite the many hammerlngs