New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-09-17
THE .STATE or TRADE

The bank statement of Saturday shows that
the outflow of legal-tenders continues, though
by no means in unnatural or surprising vol
ume The loss last week was Bl,792, 300, and
was nearly balanced by an increase of 81
COL 600 i'll specie reported. A continued in
crease in loans and deposits reflects gradual
improvement in activity of business, and the
increase of $4,000 in circulation indicates
that some of the banks find occasion to use
larger amounts of currency. At Washington,
however the surrender OF bank circulation
still exceeds the demand for additional cir
cuation other than from this city, and
the increase in outstanding notes of
National banks since September / has been
only about 100000. The Clearing House
exchanges at New-York. moreover, were only
1891 ,O0O 900, against 1919, 600 600 for the
corresponding week last year, but the differ
ence Is mainly due to the fact that the num-
Der of shares of stock sold was $4,000
shares less this year than last, so that there
was probably but little change in the amount
of payments arising from other transactions.
The imports for the week ending on
Saturday were $5,41O,O4O against &c.
$4,000 for the corresponding week last
year, so that the decline in imports since
January 1 at tins port is now about 1872
100000, or nearly II per cent. The exports
of domestic produce for the week ending on
Tuesday last however, were over 100000
larger than those of the corresponding week
last year, and the increase since January l
has been about $5O,2OO,OOO, or over 20 per
cent Comparison with returns fOm other
cities shows that the loss in imports has been
- az oil ut
York, and that the increase in exports
has been proportionately as great else
where as here. Should these changes
continue at the same ratios through the year,
the domestic exports exclusive Of specie would
amount to $3.50, 900, and the imports to
not more than $780, 100000, but so great a
change is hardly to be expected during the
last quarter of the year. During eight months
of 1878 the quantities of domestic products
exported from this port exceeded the quanti-
ties exported during the same months last year
by S12,349 barrels flour, 23,9i5, 492 bushels
wheat, 1872, 1852 bushels corn, 2,2O9,327
bushels oats, 1876, 1SS, 569 pounds cut meats,
l ,4O2, 749 pounds butter, 23.031, 91S pounds
cheese, 1882, 246 pounds lard, IL, 165,71S
pounds tallOw, 34493 barrels pork, 1922
bales cotton, and 45,574 packages leaf to-
baccO. The enormous exports of grain and
cotton last Fall may be exceeded this season,
if the pestilence at the South does not diminish
the quantity gathered and forwarded, and if
the later reports from the Northwestern States
are correct. But it is probable that some in
crease in imports would follow any substantial
improvement in business.
A few heavy failures have occurred since
the repeal of the Bankrupt Act took effect, but
there is as yet nothing to change the hopeful
feeling which that event stimulated. Inquiry
for goods is very fair for the season,
and there is more confidence in respect
to collections. The intelligence from the
chief commercial cities of the interior
is also encouraging, and the amount
of business transacted is represented as
unusually large. At the South, of course,
there is great depression, although the pros
poets of the new crop are still very good.
The railway returns thus far made for August
show an increase of nearly 100000 in gross
earnings by twenty-six roads, or about 3l3
per cent although the losses on the
Milwaukee and st. Paul, Grand Trunk,
Iowa lines of the Illinois Central, and
Missouri, Kansas and Texas, have been con-
siderable. For eight months ending August
81, the gross earnings of twenty-four roads
were larger by $3,9O9,31S than those of cor
responding months last year, an increase of
about 10l2 per cent, notwithstanding consid-
cradle losses on the Grand Trunk, Intena-
tional and Great Northern, Missouri, Kansas
and Texas, and st. Louis. Iron Mountain and
Southern. No other road reporting sustained
any loss Of consequence, and the increase on
NJ fha d.