New-York tribune., 1881-09-12
GRtFN md com.

GRIFN md GOLD
The rapid movement of specie from Eurone
two weeks ago was felt in the arrival, during the
week ending on Friday, of %G,O96,277 in gold.
On Saturday T957,72O more arrived The
movement began a week earlier this wear than
in 1880, and the total imports of gold at this
port since July 23 have been $l1.6l6.S .S31
officially reported, against $;l6,312,97 for the
corresponding weeks last year. Including the
amount which arrived on Saturday, the imports
have been $12,574,55l. 1t is known that
about $7,O00,OO0 more is now on the way.
not including the large shipment reported as
having been made two weeks ago from Ham
burg. Hence, within two months from the
beginning OF the specie movement this
year. the actual receipts at New-York
VIII have been about $4,000, 900, against
about T24,3OO.oOO during the correspond
ing time III 1850. These facts do not sus-
tain the claim of The LondoR Times that the
movement has TINS far been only onc-third or
hall aS great rs that Of last year, and afford
no support to its theory that the whole move
mcnt for the season will be from S25.OnO 600
TO $4,000, 00O. When cotton and Grain brgin
To go forward largely, il will bc seen whether
the defensive measures of the Europran banks
can prevent further shipments of specie. At
pre- ent, i'll spite OF those measures. gold
con inues to move, $500, 900 having been
shipped last week.
Thus tar, the grain movement has been very
small. Continued high prices, and some re-
naming uncertainty as 10 the extent OF injury
to the crops, have caused buyers 70 hesitate
and the stocks OF grain are rapidly ac,umu-
lating. Chicago, Milwaukee, Toledo and De-
troit have increased their stocks of wheat ON
a. ~
7,NSS,355 hushe September 3. and the
visible supply" ut other points has also in
creased about 1000, 900 bushels. The wheat
i'll sight is about 100000 bushels more
than at this time last year The exports for
five weeks ending September ,, from
Atlantic ports, amounted 10 $50, 7Oi barrels
OF flour, against GG6,O35 for the same
weeks last year; II, ,7O7, 1913 bushels of wheat.
against 23,5O3,22G bushels; and 72I3.55p
bushels of corn, against 9,7O2, ,63l bushels.
there has also been marked decrease in ey-
ports OF pork lard, bacon and hams, talloy.
butter and cheese, and the increase in beef has
been small. Speculative operations have for the
time greatly checked exports by causing al,
advance III prices which many believe cannot
he long maintained. If it should be main
talned finding sufficient justification in later
news there would probably be rush to OBJ
tain supplies before further advance
in prices should he Inade. If. ON the
other hand, later information should cause
fall IN prices, there would probably be
increased purchases on foreign account in that
case also. Hence, it seems reasonable To cx
pect considerable increase in the exports of
grain and provisions during the next fev
weeks. The exports of cotton since Aupust
have exceeded by 81 per cent in quantity those
OF the corresponding period last year. and thc
Increase III exports of petroleum has been
2I424,OOO gallons, or 81 per cent.
The news from Europe does not point 10
greatly reduced demand for grain. Rain duriuo
the third week of August caused much dam
age to the crops in England and the prosncct
had previously been not very satisfactory for
nearly half Of the returns made to The Nork
Ldhe ETpress were below average, while only
Oi2 per cent were above average, and the
returns show decrease of 1O3, 900 acres or
over 3i2 per cent, III area planted with wheat.
lhese lacts Indicate that the yield will be
much smaller than that OF 1880 and the
actual Imports OF Great Britain during the past
year have been about 72,OOO,O 900 cwt mr.
l2OOOO,O00 bushels French journals of hioh
authority now state that France will r,
"quire to import at least as much wheat
when the net imports, for twelve months end
ing July 81, have been 5S,132, 900 bushels
The German crop is below that of last wear
and G,2Sl,00O bushels were imported dnrinr
the SIX months ending June 30, but the amount
wanted during the latter half of this wear will
be larger. Heavy rains have done much dam
age in Denmark, and severe drouth in italy.
In short, the only increase of supply in Europe
is III Russia and Austro- Hungary, while the
Deficiencies to be made up elsewhere appear
larger as the season advances.
The banks reported an increase of $2, ,257. 900
III specie last week, and decrease of S51l. 800
III legal-tenders. AS usual, it will be said that
the report of averages is deceptive and mis-
leading. The Treasury paid ont, in excess of
all receipts except from the mints, $7,676,192
from Wednesday the 31st to Wednesday tba
'th, and 1t is surprising that the banks renort
no greater gain in reserve. Moreover. the
Treasury paid out 81, SOC, 900 more ON Thurs
day, Friday and Saturday, and the effect of
these disbursements cannot have been felt in
the bank statement The payments by the
Assay Office were only $4,1s7, 166, SO that there