New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-04-05
ON THE STOCK EXCHANGES

AFTER dull opening the stool, r,or,o. ..
advanced .s active and toward the close prices
No.. ~ throughout the list. The announce
neht tnat prominent banking honsa ',,a
snport from 100000 to 81 OOOO 900 gold an Tu"sda
nat no tS erect upon prices sentiment and # Is
the metal W be- spsns Snow W.T.; Of
a caii me conditions OF international trade
GaiiS lor the settlement OF oblieations ord ~
treasury Is situated in rasnect a. e., nu .ns
raance that an outward normal movement M
e. a. al VIII not cause any serious drain upon
that az ~ isas. me present indications are such
anat me leading financers do not expect that the
ainouht OF gold which will 20 abroad In tho
n ' SIX months will be large enough to bring
one ihL'easury,s net gold balance down to point
be necessary ~ van
Inc excellent showing made by the st. Paul
a a, other companies for the fourth week in
March impaired strength to the general railway
list. and good demand for bonds was devnloned
IN me course OF trading The business in railway
roHuS to-day was large for half holiday and
inc inc oiaracteI OF the trading was most encourage
ing. In stocks the chief advances were made
py baltimore and Ohio, the Granger shares
Manhattan Elevated. Tennessee Coal and Iron
ana s,is Colorado Fuel and Iron The last two were
!Huuehceu by the better outlook in the iron
INDUSTRY, as indicated by official reports of in
creasing business at higher prices Manhattan
EieVated was strong on reports Of a possible
caole-car strike. and the hopes OF the company
OF securing privileges In connection with the
Brooklyn Bridge. There was less interest in
american Tobacco although l. more hes Willy
ueait IN than any other stock on the list, and
al the opening II declined more than 1 per cent
on realizing sales. recovering a part of the loss
al tne close Total sales In all stocks amounted
to $3.50 shares. and outside of American To-
bacco and Sugar Refining the business was dis
tributed principally among the Granger shares
General Electric Laclede Gas. Louisville and
Nashville, Manhattan Elevated. Tennessee Coal
and Iron and Union Pacific. Elsewhere trans
strong
Regarding the large number OF business failures
81 a to IA
the causes which brought them about are not
stcn as TO occasion any alarm for the future
trade outlook. for these causes gradually
dwndling away, and the establishment of a
sound tariff and business policy in the National
councils in another year will leave no opportunity
for the repetition of the distress caused by the
Democratic policy in the last three years among
business institutions. According to the CONNER
cial agencies the excess OF manufacturing failures
in the last quarter over the corresponding time
last year is about 1862 per cent but the aggregate
OF such liabilities Is 1874 per cent smaller than
In the same time in 1894. and the excess of fall
ures in general trade the 1895 quarter is
16l per cent, with liabilities 1915 per cent less
than in the same time in 1894
Turning from the business failures 1t is en-
couraging to note the rapid change for the bet
ter in railway earnings. a factor which reflects
despite recent failures. a gradual increase in
business, and the preparations going on to handle
the Improvement in industrial enterprise which
the return of the Republican party to power
indicates. While railway earnings are increas-
ing. operating expenses are also showing gains
a indication that the railroads are doing
well and are endeavoring to enhance their value
as frst-class investment properties.
The majority of the railroads reporting net
earnings for February show substantial Increases
and the weekly statements so far received for
March indicate corresponding gain. Taking
few prominent roads reporting for February. the
following results are shown: The Norfolk and
Western has sos, $50 increase in grC and $780,
l6S increase in net: the Louisville and Nashville
S25 $50 increase In gross 1921 967 increase In net
the Canadian Pacific $685. 2i increase In gross
Sl2I1ll Increase In net. the Burlington and
Quincy. s377.s07 increase in gross s2S5.i37 in
crease in net: the Chesapeake end Ohio. Sl3456l
Increase In gross. s3o?sl increase in ret: tn"
Milwaukee and st. Paul 1878 15s increase In gross
N410S increase in net; the Erie sl5l.s64 increase
In gross. $14.52G increase in net; and the Atchi-
son. Topeka and Santa Fe. sl4024S increase In
grOse. and s23s. ABA increase in net
In these roads many different parts Of the
country are represented. and they give fair
business throughout the states. Besides the
roads just mentioned. the Rock Island system
should be included. jtT report for March re-
Ceived to-day. showing an increase In gross earn
irgs Of s7763l Chicago. Milwaukee and 81 Paul
for the fourth week in March gives an increase
Of sl70.41S In gross CRAVINGS. making the increase
for the month s493.ll7. and for the year from
July to date. A57915O. or twenty-four com
panies reporting to-day for the fourth week in
March. nineteen companies show gains.
Closing prices OF a number of active stocks
cOmpare with THURSDAYS as follows.