New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-20

The bank of England gained 81, 395. 900 last
week, and now holds $115,8 100 In gold ;
the Bank of France gained S1,3lO,00O in
gold and holds $3.50, POO; and the Bank
of Germany gained 81, $4,000 in specie, and
holds $139, 975, 900 in gold and silver. The
I tone of the money markets abroad has greatly
changed, and considerable purchases are said
| to have been made here on foreign account, in
order to get back American securities sold
when severe monetary stringency III Europe
| was feared.
All these circumstances are favorable to ease
in the money market and advance in the stock
market here. There Is also the important fact
that the trunk railroads appear to be steadily
approaching a complete settlement of their
differences. The statements Of Messrs. Van
derbilt, Green, Hopkins and Sage, published
in The TRIBUNE during the week, had very
marked effect upon the tone of speculation,
and, with the remarkable exhibition of secu-
rites by Mr.. Gould, were accepted as proof that
the strong men CT tho Street were prepared to
expect and work for higher range OF prices.
BY some it is still urged, as is natural, that
the large holders of securities have not joined
in extraordinary efforts to advance the market
at this season except for the purpose Of dimin-
ishing their holdings, but the general impress
sion produced has been strongly favorable to
an advance.
One other fact is of much importance in its
bearing upon the future business Of railroads.
The prospect for large crops this year is at
present unusually good. Months of uncer-
tainty remain, during which storms or drOuths
may blast the hopes of the farmers. But the
prospect for winter wheat could hardly be
better at this season than it is now. The Gin
cinnGf Price Current publishes reports from
several hundred counties, which show in the
aggregate some increase of acreage and re-
markably favorable condition. The Chronicle
declines to attempt an estimate of the effect
of the food in the Mississippi Valley upon the
Weld of cotton, until the flood has subsidized,
but observes 1T is favorable feature, If 1t
should subside now, that it came in March
instead of April The disastrous food of
"1S74 continued all through April the total
breaks in ievres exceeded twelve miles, and
"the total extent of bottom lands oycrfowed
exceeded %, 900 square miles" As the yield
even in that year was only 100000 bales less
than that of the year preceding, at that time
one Of the largest crops ever grown, the tenor
of the comparison would seem to be not I'M
favorable.
On the other hand, the revival Of excessive
speculation in products is a bad sign. There
has been little improvement i'll exports from
Atlantic ports, nor can any be expected so long
as the Chicago market holds April wheat at
81 30 or more. The Mark Lane Express of the
9th said "The available supply between
10 10
" to meet tho requirements OF the second half
" Of the cereal year. 1t is clear that the 1rib-
"bling expectation from Atlantic ports may
"cease altogether from now forward without
materially affecting English markets" Yet
daily dispatches are filled with accounts of
corners in wheat at Chicago, Milwaukee and
St. Louis and powerful combinations threaten
to maintain prices without yielding until new
wheat comes into market This speculation
will materially affect the quantity of grain to
be moved by the railroads.
Another unsatisfactory symptom is the COM
mencement or visible approach of important
contests between labor and capital The strike
In the Pacific Mills, at Lawrence, in which |
there has been no previous disturbance for
thirty years or more, has already stopped $1,000
spindles and 900 LOOMS and threatens to throw
nearly 5000 persons out of employment. The
Mouders' Union at Troy held a meeting on
Saturday, at which 500 men attended, but de-
cided by small majority not to strike until a
committee had waited on the employ
ers. A convention OF miners was held
at Pittston, on Saturday, at which 104
colleries were represented by delegates,
ard took steps TO organize a Protection As |
ISOLATION, but there is n wide difference of |
opinion as to the probability of a strike. The |
partial suspension of work is the main cause |
of complaint. In several other branches of
industry the supply has become greater than
the present demand, and some difficulty has |
arisen Iron is dull. and has declined in price. |
In dry goods there has been only a moderate |
trade, and in some branches the outlook is |
quite discOuraging. Nevertheless tho ex-
changes show that the volume Of business |
here and at most other cities is on the whole |
unusually large.