New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-12-10
finanfial.
The Financial World.

| are steadily Tightening, STOCKS have coma -.
freely and in at least six issues Of the Industs.,
group the lowest prices on record have been p.
| corded The past week has not lacked for vara,.
of news affecting security values. some Of Il vsrv
| favorable but the good factors were ovs,
Swallowed day after day wore along w,,,
stir rates for money and an ever-ncreasn.
loss OF cash by the banks to the sub-treasurv
These Withdrawals amounted to $5,0OO0O0 n,
| Friday. and there was an additional loss OF 81
100000 by interior movement with funds bens
locked UP by Treasury operations II Is unneces
sary to state that bond purchases have dwindl.a
10 insignificant figures In foreign markets. N.
| action OF the Bank OF France in raising It's raj.
| from to 31k per cent. and heavy withdrawal,
OF gold for South America, were the unsettlins
| factors
II has been noticeable that for some tim.
past stocks have been supplied on all rallies A.
casioned by bullsh developments The mator,,
OF people were wide awake to money condition.
| there is no argument so effective as a month";,
| statement OF extra interest charges-but waltz,
| to realize. an expected advance through buu
| sh feeling engendered by definite statement.
| from the executive and legislative branches a,
the Government as 10 immediate action on N.
currency. and possible expansion OF circul,
| ton
Conditions such these explain the exas
gerated effect produced by the decision Of the
| Supreme Court adverse to the Addyston Pin.
Co. on Monday last, and the paragraph in the
! Presidents message dealing with Trusts TIN
hard to see where that group known as Indus
trials has been In any way affected: and the
! idea OF the public as to their standing has been
| but confirmed by the declarations OF the Gov
eminent. The weakness developed here mus,
be attributed to other causes chief Of which IN
| the fact that It is the new unseasOned security
which breaks first when the strain comes
The action Of the market Tuesday brought
sharply into prominence what had been before
| apparent, viz: good news failed to have effect
while bad news was at once reflected in declining
| prices. For the fourth week OF November 81
Paul had one of its phenomenal weeks and
showed $4,000 increase while Louisville &
Nashville increased $4,000 The stocks Of
these roads were unaffected by these earnings
but the quarterly statement Of the Brooklyn
Heights road showing $4,000. net decrease was
at once felt in the market, and B. r. T. broke de-
cdedly.
Atchison preferred may be now reckoned q
regular dividend payer, and a continuance Of
these payments is assured by the large earnings
both gross and net which the road is showing
and the ample crops found in the State where
most Of its mileage lies The Kansas Board Of
Agriculture in its final returns places the yield
Of corn for Kansas at 225.000000 bushels the
second largest crop in it's history. and the COM
bined home value Of the three crops-wheat,
corn and oats-at over S13O00OOO more than in
| 1898 Each dividend period finds an increase OF
V per cent in the rate paid. The dividends for
this year aggregated "a per cent, while that de.
cared last week and payable January. 1900,
was ~ per cent. pointing to a total yield Of
| something over per cent for next year.
| Northwest common becomes per cent
| stock The directors met Friday and de-
ciared per cent as the semi-annual dividend
| against the 2k per cent rate OF last July. Al
| the same time 3 per cent was declared on Omaha
| common This action was anticipated. and the
| prices of the stocks promptly dropped on. While
| the magnificent condition OF the Northwest
property may warrant high price for It's stock.
one is tempted to bring comparison TO bear and
| to cite the price of that other per cent tvt.
dend-payer Chicago. Burlington & Quincy
Weekly returns OF earnings by the 81. Paul
| Co. may be looked for with interest For tne
year ending June 80, 1897 this road earned
| $50 4S7 600 gross. For 1893 gross earnings were
| So TOO 900. larger Another gain OF 81 lOoV" was
shown for the year ending June 80 last Th'
heavy falling off in the receipts OF Spring whea'
| at Northwestern points was expected 70 CUT
| down earnings but because OF the large move
| ment OF general traffic. they still continued "
| gain and In the five months OF this fiscal year
| no less than 50, 165 600 has been added, point.
| ing to a total gross for the year ending June :"
| next Of over $40, 100000, or a gain OF slOoV"-
600 in three years, which can only be eharacter'
| lied as a wonderful showing. Returns TOT De'
| cember will be subjected to another test. Com-
| parison is made with very heavy earnings iSS'
| year. particularly for the third week IL o'e'
not seem possible. with the grain movement
running small that the present large gains CD"
| be continued.
| The directors of the Standard Gas CO. met
| and took no action on the dividend "hieh au'eu
| force to the expression Of opinion last "eeh
| that a serious state Of affairs would gro" OUT
| of the gas situation were no eHor's "'''' '"
| bring about a speedy settlement OF the wal
| From the promptness with when cuIie".'
| measures are being introduced III po'n 49,.
and House. following the declaration vi Va
| subject contained in the PresidehIs n'' "a
| would seem that the Administrator "D'
! nitely at work on currency reform
| is finally passed which, through oanA. =,
| culation, the Issuing OF notes w u ''N
| the Government bonds deposited, or oy ieiu"'
ing operations increases the circuiauon' g,
powerful factor bearing on security 'a'ue' WIZ
come into plsy.
1t only needed such happen.ne Az III.
| ported withdrawal Of Mr. F. o. MattmesseN i'O
the American Sugar Refining Co. anHoun ~.
Saturday morning and the heavy oreaA II w..
leading stock to start liquidation afresh' VIZ
the bank statement appeared with another y"
| scrutable showing. there was some GOVERNS
shorts and bidding UP here and there pu' ~.
necessities OF those long OF stocks niaa'
rally OF short duration and the market ''''''
| very heavy. u.,,
The way these Industrials are acting W."
their excessive declines. makes 1t likely 'ha'