New-York tribune., 1896-05-04

way companies, ard Just at this period u ia we'll
70 nouce that crop news is of a most promising
character weather conditions have favored
the winter wheat territory, while spring wheat
conditions at present promise full acreage The
prospects In the cotton country are good, and the
general agricultural indications are very much in
favor of an abundant harvest.
In the last week two things Of interest and i'm
portance to holders Of railway securities were
me DEGREES OF foreclosure obtained for the Phila-
delphia and Reading and for the Northern Pa
cine railroad companies. They are Of impor-
tance especially to bondholders showing that
the courts will uphold their claims and rights
and that their mortgage bonds are cast iron Sc
curity for their interest in the property. The
DEGREES show concusively the right Of bondhold-
ers to enforce their liens and in the case of the
Reading road this Is especially interesting as
junior security-holdens have repeatedly said
that the general mortgage-holders would not sue
ceed IN enforcing their rights. The foreclosure
decree for Reading provides that unless the Read
ing Railroad shall within twenty days from May
lsatisfy the claims of the general mortgage bond
holders the entire mOrtgaged and pledged prop
erty of every description of the company shall
be sold to the highest bidder, as q whole subject
to the right OF the majority in interest of the
general mortgage bondholders. The sale Is TO
be at public auction on a day to be fixed by the
trustee. Every bidder will be required to de-
post the sum of S400. 900 as a guarantee Of good
faith. and an additional $500. 600 in the event Of
the acceptance of the bid. Provision Is made In
the decree for the disposition Of the proceeds OF
the SALE beginning with the payment Of all
costs and following with the cancellation Of
receivers certificates. payment Of general mort
gage interest and payment OF general mortgage
principal. II the amount realized be sufficient
In connection with the Northern Pacific matter.
1t Is appropriate to make note of the companys
returns for the month OF February. in which net
earnings show an increase of s2S.615, and from
July an increase Of $1.956,526 All the North
western roads are doing we'll, the increased grain
movement at present helping earnings to show
a gross increase Of $493. III. and net increase
Of $7926l. and Burlington an increase In gross OF
1924 906 and $163S06 In net. In the st. Paul earn
ings. net were reduced a considerable extent by
large increase in operating expenses. The
policy of restriction Of output entered into by the
anthracite coal roads has resulted In an advance
of 25 cents n ton. and though the Reading and
Jersey Centrars most recent statements were
poor better returns be looked for In the
April and May statements Despite the fact that
less coal is used in these months they are good
periods for the anthracite companies. as depleted
stocks are made good and a large movement is
made In putting in ceal for the winter In antici-
patton OF advance In price In the rali. IN
April. preceding the advance Of 20 cents Just
made, there was a very neaVy movement vi '"'S
sort.
Actual transactions In stocks and bonds showed
A falling off from the preceding week. but some
noteworthy advances were made. although the
greater part Of the list was fractionaliy lower
at the close Chicago, st. Paul. Minneapolis ana
Omaha reached its highest price OF the year on
Monday selling at 45ss. and on TUESDAY ST Paul
also sold at its highest price, ut 79la There was
no CONSPICUOUS movement among the railway
stocks and the industrials moved under the usuai
influence Of manipulation. The following tapies
show the movements Of the principal active STOCKS
and bonds In the week: