The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-09-19

mVbspOIh ana np0CulhtOIb ~ o@'"hhh
to buy back the securities that other European
holders have sold 10 may reasonably DO as
sumed that the large banking interests have
virtually exhausted their resources in their
campaign against cash payments against an
Increasing foreign trade balance adverse
to them. These circumstances would seem TO
insure the stroet against Q positively stringent
money market, though moderate activity may
develop.
The noteworthy occurrences this week other
than railway tfafic returns have been
the termination OF tho bituminous coal
strike, a further advance in tho prices OF
many staple commodities. including iron.
larger bank clearances and extraordinary
exports Of domestic products, particularly
wheat. While referring 20 foreign trade move
ments, 1t is int resting TO note that for the cur.
rent week imports at this port wero about
III millions larger than for the previous
week. This may DO q temporary move.
mont; still 1t suggests that the poo
Pile Of the United States have begun to make
moro liberal expenditures abroad now that they
havs entered upon q period Of prosperity.
Should this provo to DO the case, Euro
pean nations can hardly complain OF the
effect upon their industries Of the new
Tariff law. The return to work of the large
army OF men employed In mining and transport
Ing bituminousc coal to market will obviously add
to the buying and consuming power Of the coun-
try. Regarding bank clearances. they arc
computed to have been % y cent. larger
than the previous week and SO y cent. larger
than In the corresponding week OF last year.
This last comparison. It should be borne in
mind. Is made will u period when business was
very nearly at a standstil because Of the Inn
p~ortance that the campaign in favor OF free
silver had assumed.
An,D,, Tho AMANDA that Wall atraot 10 lonk;pu
forward to next week is the decision of the At.
torncy.Grneral. or rather his intcrprcta.
ton OF the section OF the Tariff law imposing
q discriminating duty OF 10 per cent.
upon foreign goods br ught into the United
States by tho Canadian and Mexican railroads.
1t Is generally held to be Of Importance princi-
pally regarding tho first named. For some
reason or other the prevailing impression is that
that the Government will hold that the
discriminating duty applies to tho Canadian
roads. Should the Attorncy.Generul not so de-
eide. the American railroads that are in direct
competition with the Canadian roads will be no
worse OF than at present. Another event
that Is looked forward to with a good
deal Of interest is the probability OF
an increase in the quarterly dividend
upon the stock Of the Rock Island Company,
that will place It. upon n 4 y cent. basis.
Tho earnings Of tho company manifestly war
rant such an increase. and an example in the
matter has been set by the st, Paul Company.
Tho Rock Island management was one Of tho
first to reduce dividends. and it's policy has been
to pursue a conservative course In distributing
profits and not draw upon previous surplus
or income from other sources. The speculative
community has several times been disappointed
because the company did not use n part Of the
o.. 900. 900 II received from the rcorganiza-
tion of the Minneapolis and st. Louis Rail
road to place Its stock upon a higher
dividend basis. According to the last an
nual report OF the company. a part OF the
amount referred to has been expen cd upon the
property; but the management has consistently
declined to avail itself OF that fund for dividend
purposes. holding. apparently. that only profits
from current earnings should bo distributed.
Those earnings, according to figures that have
como to hand. now warrant a more liberal
treatment OF the stockholders than heretofore.
An interesting fact regarding the Rock Island
Company tha has doubtless esca ped the memory
Of many people is that the company owns about
1900 miles OF road against which II has not Is.
sued n dollar OF stock.
The feature Of to-day's bond market was n
sharp advance In Oregon improvement. IS
on unusually heavy transactions. This move.
ment is based upon the fact that the
recent decided improvement in the net
.s,nrns %. ~. onr,oO. r"aro, 49,, co ooo
Eor 81. ..r.n n,or,h. onsinr JnIr y, ,no..
earnings were 1894 900. They included net
go. al ..a. -.
To- y. eli S,ns 900 ana ~. ~. -,
-, ~. .orn onnau. -.
ly on account Of the Klondike excitem mt, the
.araa.n,Ir oomn,os -. =" IT,. 70
rsmajndsr ~ Tho v.,r Irnd.r N. rnnrcan
iSa,ion ~ 60 oha,,a. -, 49, 80
- all H. 80 - iii ~ CO., "no
Tha s,r,a.na uaon ~. a., ..a-S. $50
oa,I. ,or s-e oso ,or "a - a.
s.cond n-o,orrcd s,eo 600 moLira ,otaI ms,
80. 80 -, -. 49,, a,os. -, .
oso =, 1000. ,h.ro,o.a ~, 800 ~,
o.,i,a,. -, ".r,;na. 10 uoa,.us ~. Wv
n,n,w,, .ho, ohor, SOL ono - -.
and aiv;d.nd. nr,or 70 ,ho oon,n,on a,aan -.
rrhioh tho i,suo :. ~ 80 ~ 900 600 ~ "
,as.,h 49,. ~. 49,.
,or tbo a., ,Im. ,his - 49,. I,I,.an.HN
gu