New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-27
THE FINANCIAL MARKETS,
STOCKS DULL AND FIRn.
OF THE FEDERAL TREASURY
RAILROAD EARNINGS
Sunday. December 26-p. m.

Sunday. December 28-p. m.
O,o r,..t from tomorrow a distribution OF
nm onorrnous amount of interest AND dlvloehu
,,vr,ents will be made. II II were possible 10
look into the future there would doubtless ne
found no spot black Igh TO deter the rem
vestment OF the large disbursements OF Janu-
AIRY / 1898 Comparisons with the last severe"
preceding January interest PERIODS make 'aiiu
ary l. 1895 unique-unique in its prospects anu
promises Investors have already seen the iui-
flinent of promises which were made yeui
ago and now they have the satisfaction OF iooN
ing forward to increasing business expansion
based on q foundation Of things already accom-
rlished. II would be superfuous TO point out
IN detail reasons for the feeling OF confidence III
business circles Every body knows why TINS
Christmas season is. from the business point Vi
view so vastly different from that OF the last
few years and why the business "orio can
look forward to the new year with chee'iu'
ness and confidence. peace and goodwin" i"e
change in financial conditions has been pro-
nounced The intrinsic worth or securities mas
been more than doubled. The farmers have
prospered Wholesale and retail business mas
expanded Commercial relations with other
countries have grown large that this coun-
try can assert its right TO a foremost
place among the nations Of the world. The
United States for the year 1891 VIII nave
trade balance in Its favor OF over S5o"V,VU.
Unlike past years. this country no Longer owes
Europe large amounts on interest ana dlVloellus
o. an American securities held abroad. The
proportion OF January disbursements cue abroad
is small The major part OF the payments Will
doubtless be renvested for home account IN
nome securities Financial circles are confident
that the future has no snags for investment Sc
cur!ties while the underlying strength or inc
market value Of securities Is convincing PROOF
d. hat phVscdl condition or the country
great transportation and industrial concerns is
such as TO insure increased revenue returns
throughout the new year. The monetary sltua-
ton is firm. but not stringent After the turn
~ the year rates Will doubtless move back 70
nominal figures. Everybody at least the rad-
Ing element in the Stock Exchange expected
panic rates last week, and while there was no
reason for such belief 1t was fortunate In some
respects that such expectations developed. as
they served 10 prepare the Street for a possible
squeeze" and tended 10 keep stock speculation
wit hin narrow limits. Bank accommodation was
not required 10 great extent by brokers' Iast
week because of the very conservative market
trading The Union Pacific reorganization man
ayers deserve-and they receive II on all sides
praise for the masterful handling of the arrange
ments for Union Pacific payments. their wise
operations being. In great part the chief FACTOR
in preventing troubled money market.
The foreign exchange market declined through
out the week. and on Friday announcement was
made OF gold import arrangement While this
country can draw gold from Europe whenever 1t
needs the metal. owing 10 the heavy trade bal
dNCt III ldNOI Vi Inv OHINfu Stdt'S, IL 10 HOl
thought likely that the present movement will
result In large imports. 1t is encouraging to
know, however. and It is element that
leves the monetary situation Of all fears. that
gold can be brought here al pleasure The stock
market last week presented few features de-
handing attention Dulness was the leading
feature but il is noteworthy that the tone was
strong despite efforts TO depress prices. The
local transit stocks were active and the gas
stocks were stronger. while the general list |
closed with prices for most issues above those
~ week ago. Regarding the local gas situa
ton. there now appear good prospects FOR
So tisfactory settlement OF the East River Equi-
table consolidation scheme. authority for this
statement coming from interests actively en-
poyed in effecting the consolidation An Incl
dent of the week the declaration by the Rio
Grande Western Railway Company Of extra
dividend OF per cent the preferred stock
The company's surplus above all charges for the
five months ended November 30 $751;. SS5.
1t is estimated that the net earnings above all
charges 10 be added to this surplus from Decem-
her business will make the total surplus for the
half year $4,000, or the full 8 per cent on the
preferred stock. The company declared a quar-
terly dividend Of q per cent payable February l.
The attitude OF the European Powers toward
China has not had material effect or the for
eign markets. and II is not likely that the corv-
ing up OF China would even affect our own
markets. The action Of the Trunk Line pres-
dents in restoring East and West bound freight
rates was an important development Of the
week
The movements of the chief active stocks and
bonds In the week gty in the following
tables:
STOCKS