New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-01-30

for brcadstufIs, provisions, and military stores
is probable, and rising and active market i'll
these commodities would stimulate purchases
by farmers and Others. 1t is thought, also by
many, that disturbance in Europe will cause
greater immigration to this country ana larger
investments OF capital here, which may i"iio"
if the contest seems likely to involve NATIONS
of Central and Western Europe.
Notwithstanding all the Influences tending
TO check business activity here, the transac-
tions of January have not been discourag1ng.
During the last week. indeed, the clearlngs
were larger than during the corresponding
week last year, $421, 314,349 against $4ol,-
799. APO, and for four weeks ending Jan. ~
the daily average has been S72,ooZ,ooo
against a daily average of S74,35I ooo 10 'nc
corresponding date last year. Inc decrease
only $4,000. OOOP is less than per cent
while the general decline in prices since jan
nary last would have caused decrease III
clearings of 7 per cent, if the quantities ex-
changed had been the same. In quah tl'ies'
then, the volume of business has been larger
in January, 1877, than it was III
January, 1876, so far rs the traffic centerins
at Ncw-York is concerned, nOtwithstand-
ing the hesitation caused by fresidehlia'
dispute and possible war in Europe, ana inc
retarded movement due to unusual severity o!
weather. The banks are accumulatlng iesai
tenders rapidly, as they should at this season.
while the loans are but "a per cent lower than
nj this time last year. This does not indicate
oreater stacnation of business, in view OF the
fact that the change in prices permits the
same exchanges to be effected with per cent
less money. The specie average 1ails peiom
the average of legal tenders again, but Is SUN
SD, 1000. 900 above the average heid at tilis
time last wear, and this increase Is prODaDly
due in part to large transfer OF gold, 10 DE
emplOved for speculative purposes, Dy leadihS
onerotors formerly of San Francisco. The de-
posits. however, are only $1O,OOO,O0O larger
In brief, the banks hold an excess OF nearly
S25. OOO, 900 above legal requirements, while
the loans are not materially reduced.
The Grain trade does not look well for New
York thus far, the receipts here having been,
during three weeks OF January, only l'l'"'zo'
bushcls. against 2,3S2,652 during the same
weeks Hast year. Only half CT tins loss mas
been in corn, Of which the receipts here nave
been 529,232 bushels, against 1,l25,oil
bushels last year. OF the other cities, baiti-
more has gained but little in proportion OF
the total receipts while Philadelphia las gained
all that Ncw-York has lost, and more. Last
wear Philadelphia took about Is per cent ana
New-York about 80 per cent Oh the com re-
ccived at Atlantic ports TO date; this year
PHILADELPHIA has taken 34i2 per cent AMI New
York only IS per cent Apparently, Wander
blt's elevator protects NewIOrk" very much
after the fashion of Vanderbilts war. How
ever. there has been unusual difficulty
on account of The snow blockade in the for
varJng of grain by the New-YOrk Central,
and il NAV be that The comparative loss OF
Ncw-Yo,k has been only temporary. II Is
worthy of notice that although the quantity
of grain received here has declined over 90
Der cent, the aggregate transactions OF all
| kinds. rs shown Ey bank clearings, have de-
clincd but little, Sc that, while other cities
have gained in grain the proportion which
New-York has lost this city has in other ways
| increased it's traffic.
The annual report of the Iron and Stee! As
ISOLATION is gloomy, but we fear there Is II
predisposiliOn to gloom il that quarter. Iron
! makers in many parts OF the country are at
work and realizing profits in spite OF the low
| prices. and the depression of That industry ap-
pears to be greater III Pennsylvania than else
| where. The cotton manufacture Oh the
contrary, reports very encouraging activity
and moderate profits for the last SIX months.
The mills at Fall River are al at work on full
time, ard there is a perccptib!e Improvement
in the prices of many mill stocks. Especial
Improvement is also noticed iii the boot and
shoe trade at Boston.