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

age Of silver would enhance the credit OF the
country in the eyes Of the world; but without all
these blessings, and despite some unfavorable
factors in trade, there is no reason for taking a
cherries view Of the situation. No reason is ac-
ceptabe for magnifying the effect of the pas
sage Of Cuban resolutions and operators who are
doing II for selfish personal, pocketbook reasons
are offensive TO society and their perpetual croak-
ing is tiresome and disgusting.
The action Of the directors of the Chicago,
Milwaukee and ST. Paul, increasing the semi
annual dividend from to per cent, and the
agreement formed between the General Electric
and Westinghouse companies were factors
which might naturally indicate higher prices for
the companies securities. but the highly profess
siona character Of the market prevented any
increase in values Selling generally takes place
on good news IN a speculative market. and the
effect of such news on stocks is shown before
the news Ia actually announced. and profits
taken on the official announcement. The cond-
ton of the St Paul Company regards It's
earnings in the last eight months warranted the
increase in the dividend for the earnings have
represented per cent earned. Conditions In
the st. Paul territory have been especially graft
flying in the last year, and the outlook for Bur-
lington In the NEXT few months is similar. The
speculation in American Tobacco needs ex-
tended comment. ii being the result of fight
between the long and short interests, in which
the first-named were successful. the stock gain
ing per cent In the week. Baltimore and Ohio
advanced on the squeezing of shorts. and North
ern Pacific, toward the close OF the week. de-
clined on the talk Of the heavy assessments 10
be imposed in the reorganization plan. Consd-
able interest has been attached to the for
eign exchange market on advance In rates
ly in the week leading 10 reports OF gold ex-
ports. There was more at the close. and
the Indications were against higher rates bat
any sudden change in the money markets may
make exports possible. II has been suggested
that the Treasury call in the deposits held
on bond account In the depository banks as
protective measure against Withdrawals of gold
for export, and in view of the present condition
OF the money market the suggestion may
be bad The depository banks hold SCI
&62u Of Government money. which has been
freely lent on the Stock Exchange resulting in
low rates for call money. If rates for sterling
exchange should show any further tendency to
move up. the calling in of the special deposits
might serve to bring on reaction in the money
market which would check exchange rates The
actual condition Of the market just at present
however. doee not seem 10 call for any such
protection. The demand for exchange is light
and the low rates Of interest prevailing abroad
may have something to do with the position Of
the market. One item which should be Of general
interest as rejecting the improvement In bust
ness ard the favorable condition Of corporate en-
terprise is 10 be found in the rports Of the nsur-
ance companies which have been made public In
the last two months The growth OF the COM
panieS has been large and the character of their
investments has shown careful scrutiny on
the part Of those in charge. "Dun's Review
for last week made a compilation of twenty-one
companies reports for the year. showing an ag-
gregate surplus of 1927 2S2 337 against Sl135l1-
3l1 in the preceding year. and against $93 100 04O
in 1893 The total receipts were 5000 333 100
against $96607 002 in 1894 and $lS2 2S4 in the
year before that
the chief active stocks and bonds in the week: