New-York tribune., 1880-03-01

i0."' 'Nf'
Ncr, ca0lu- January 1O....... %G9l3909 - 2Gl -32
VICE cu'iln- ) nlfrN l7-....-. bVs I'D ---~'iN-
NrrE tu,IHE January @l.-.-... IitO0.h5i -. 't'l
Week ending Jtrulrl 3l....--. ll.I33.Zl2 62Gl 20
N'tk 'nuiuG trurutry ,:-..--- Hl"l.1 o.i,,..vJ
Acrk ending fc5iu,r' 49, s295.-i5 500 o.
Wo't tndHt February -i-.---- 3-f5.uUI IA"D''
We" cH'u- f'.'n"ry --..... ',Si,''" o."'o,O-
sine Jaluap 77.4,37e5 sio.se7939
The increase for the year thus FAR, about -
per cent i, sufficiently large 10 warrant some
apprehension. If there were not manifest to-
kcns oil % decline in the movement But the
urgency of demand far foreign goods, except
i'm certain brauahc~ of trade. seems 10 bc di-
m.nishing, ani IT is pIoh,bIe that the decrease
apparent In the import statements for some
week, viii continue. II so. the Withdrawals Of
money from the market to meet duties viii
diminish. and increased purchases OF bonds by
,ac Treasury, beyond the regular Sl.009,O0O
each week, may not he needed.
The continued excess of imports over hose
Of ia-t year, and the recent crease in value
of exports. ha- contributed 60 advance foreign
exchange. and some export, of specie are
NOW considered probable by many. Il does
MOI follow that such exports, If any should
occur. would b. large enough to have any ap-
prrcab.c effect upon our monetary condition.
nor that exports of specie ,uluci,u utly large
20 check the rapid advance OF prices
and 10 retard speculation would be
disastrous. Thus The advance in prices of iron
and products thereof has been 80 great that
shpmcn,, from Great Britain to the United
Starc- amounted TO $3.50 tons in Jannary--
NJ fine litc oi more than 1000 600 tons
yearly. But already tendency to decline IN
prlccs ISuotcd, and II Is probable that the excess
,ivc importation VIII thus be speedily arrested.
so the rapid advance III prices Of wheat and
other brrad-tufl-. having zone 50 far rs to
check exports, was arrested by the partial
Withdrawal of the foreign demand. Both by
checking imports and 10y increasing exports Of
merchandise. decline in prices would thus
tend 10 prevent exports of specie; and We may
be quite sure that this remedy will be applied
bclorc enough specie has gone abroad to cause
any sctions monetary stingcncy. Thus Tar the
exports of gold have been even smaller than
they were last year 10 date, amounting to
Sl2S152 since January ! against Tl3l223
an 1879. and the exports Of silver have been
ONLY $l.2l2,3GO slucc January l, against
- 292S,3l9 90 the same date last year. More
over. there is much more reason now than
there WIS year ago to believe that bonds
and stock 0f American corporations will be
sold abroad to u large amount and the pres
rnt effect ol such sales Is to prevent exports
of gold, precisely n if wheat or other mcr-
chandiSC had been exported instead of bonds.
The coal companies have substantially
agreed upon a curtailmcnt OF production until
Aprl /. upon plan which was formerly Sug-
gcstrd by Judge Packer As set forth in the
circular recently issued by the NewJerseY
Central. the understanding is that no coal
shaN be mined, weighed or moved ont of
chutes from II o'clock Wednesday night of
each week until the next Monday morning.
II is supposed that this partial suspension
will be maintained until April l. TIE
output for the week ending Febru-
ary u was less than that of the
corresponding week last year by 98,4G0 tons,
and the decrease in production, II work should
be entirely arrested three days each week,
would be about 10000 tons. But n decrease
of that amount each week for six weeks from
February 21 should certainly more than suf-
fee to clear away surplus stocks on hand,
which increased only 243,0 tons in Jan
nary, and were only S5GS12 tons at tide
water shipping points January 81.
Railroads con nuc to report very satisfactory
gains in gross earnings Among the largest
proportionatc gains reported since January l
are Sl9S .0OO or 40 per cent, on the ST.
Louis and san Francisco $27G,O00 or 50
per cent. on the Missouri Kansas and Texas /;
S95 900, or GO per cent. on the Burlington,
Cedar Rapids aud Northern 1901 900. or 5S
pcr cent, on the Iron Mountain $252, 900,
or 80 per cent, on the Chicago and Alton !;
SlSG.O0O, or 3S per cent, on the AtchisOn,
Topeka and Santa F6; $3.50, 900 on the
Milwaukee aud ST. Paul; $359 900 on the
Philadelphia aud Reading; aud S2lG,000o on the
Louisville and Nashville, each 81 per cent. and
1906 600. or 80 per cent, on the Wabash Pa
clfc. But it must not be forgotten that Opor-
ating expenses have been largely increased by
the advance in prices and wages, aud often
more than the earnings, especially when the
increase in earnings has been small, and roads
whose gross earnings have actually decreased
are by no means III as healthy condition as
at this time last year. OF these, however,
there are but few.
The exchanges at New-fork for the
month of February, 1880, were larger by
50 per cent than in February, 1879, and
the increase in amount of stock transactions
has been smaller than the increase in