New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-10-17
-ecks ending on the dates named
nurlo

Had the decline in prices continued, so that
the purchases for export would have increased,
the blockade of grain and the consequent
blockade of money might soon have been re-
licvcd. But a new advance in prices began on
Thursday, No. red winter wheat ris-
ing from 81 AZ to 81 50li at the close on
Saturday, and No. corn from Gslf to II cents.
still higher prices having been reached on
Saturday early in the day, and it is feared by
many who are well informed that the clique
has power to advance the market TO higher
prices than have yet been reached. An upward
movement from this point would probably
check foreign purchases ana shipments from
the West again, and for n time prevent the
movement Of money To the East.
An encouraging feature was the arrival Of
So, O59, 800 in gold from Europe last week.
anil some further shipments from England are
reported, though the known amounts are small.
The Financial Chronicle thinks that 100000
more is on the way, though, if SO. large sums
mnst have been shipped of which there have
been no Geographic adviccs. The London Times
of Saturday says: ave believe that the Bank
"of England does not intend that any more
" gold shall leave the Bank for America"
But if the Bank is to prevent further de-
crease Of its own reserve, it may be obliged to
take steps which will react somewhat scri-
ously upon industry and trade in England and
France. II may be able to drive some Amer
lean securities home, but there is at least a
possibility that a monetary pressure sufficient
to accomplish this may prove quite disastrous.
n its issue of October /, The LOndOn EconO-
mist estimates that British holdings Of Amcri-
can securities were increased as much as
1925, 100000 during the first half Of 1881;
that British indebtedness to America in
"creased far more than the payment OF
"GL2S7,5Oj in gold would REPRESENT; and
that, though clearer money has caused con-
siderable export Of securities" during the
third quarter OF the year, and thus diminished
the burden of debts to this country, "as soon
cas- money becomes tighter in New-YOrk
"the existence OF those debts is made
"manifcst clearly enough" If England owes
this country, and money is needed here, we
shall probably get either the money or its
equivalent in securities at rates low enough To
tempt American buyers even i'll time OF
stringency.
The commercial transactions of last week
were large, though naturally smaller than
those of the first week of the NOR tn and
quarter. Deducting double the market value of
2,4OO, 900 shares of stock sold, the remaining
exchanges were 500, 663,700 of which part
was due to sales of 100000 bales of cotton,
$4,000, 900 bushels of wheat, 100000 bush
els of corn, and 2,5OO,O 600 bushels of oats AS
the receipts of cotton here were only 1,3iG
bales, and the sales for export only 1882,
and for consumption only 1898 bales,
and as the receipts of all grain were
only 1,s5S,Os7 bushels, it is evident that
the proportion of speculative dealings IN
these products was very large. In cotton,
there was slight decline in prices wheat and
corn have fully recovered the loss early last
week, and there has been a slight advance in
petroleum. Iron is sold so far ahead by many
mills that the quotation of $22 5O@$23 for
No. foundry is considerably below some re-
cent transactions at terms not precisely known.
The coal business is sustained by the
large demand for manufactures and