New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-07-31
MONEY md BUSINESS.

The changes have been for the better, dur
ing the past week, in almost every branch of
business. The grain and cotton crops promise
much better; exports have increased; greater
activity is seen IN the dry-goods business /;
railroad difficulties have made further adj
vances toward complete settlement; confidence
in the value of securities has been strength
cncd: and the end of July has been reached
with less loss OF reserve than was expected.
Best of ALL continued decline in wheat, vege-
tables, and some other articles, promises re-
ductiOn in the cost OF living.
The colapse of the wheat speculation is alto
gethcr the most important commercial event
of the past week and month. On the 3Oth of
June, No. red winter wheat in New York
elevators sold at 81 80, on the 18th Of July at
81 33, on the 18th at 81 29li, on Saturday,
the pod, at 1872, and on Saturday,
the 29th, it closed at 81 IL. AZ Chicago the
market was completely demoralized, and the
operators who, less than month ago, were
Boosting of their triumph in cOrnering the
market, on Saturday were resOrting to all
sorts OF legal and illegal tricks to escape a
loss OF several millions. The large receipts,
the great quantity and good quality of winter
wheat harvested, the decided improvement
in prospects as to spring wheat, which
is now nearly ready for the reapers all have
combined to crush the combinations by which
bread has 80 long been made unnaturally
costly Actual scarcity has permitted a further
advance in corn and oats, notwithstanding ex-
cellent prospects as to the yield and has en-
abled Spectators to hold cotton firmly. Po-
tatoes have dropped from So 30 at the end OF
June, and 81 50 week ago, to - per bush
81, and turnips, green-cOrn, tomatoes and
other vegetables have fallen to reasonable
prices, although the heat and drouth of the
past week cause some anxiety. In pork
products, though the change has not been
great, it has been in the right direction
With cheaper food the army of woikmen
now on strike will have less reason to persist
in demands which the course of the markets
has proved ill-timed. Bar iron, which WAS
held firmly at 30 cents a few weeks ago, is
now often sold at 2.5 cents, Besscmer rails
have not advanced, cotton sheetingS and
print cloths command 10 higher price than
they did July /, though cotton Is a quarter
OF "A cent dearcr, and the demand for coal has
been restricted by the stoppage OF manufacture
quite rs much as the output has been reduced
by strikes in the mines. In almost every di-
rection the workmon are admonished by
the course of events that their demands were
not warranted by the condition of business.
Even the freight-handlcrs of this city, who
thought it would be impossible for the rail-
roads 70 get anybody else to do their work,
are applying for employment at Old rates, alter
five weeks OF idicncss, and many OF them
apply in vaiA. 1t is sad that good workmen
and their families should suffer, but the events
of this year may give them wisdom and reso-
luton 80 resist ambitious leaders and inpatient
associates when they urge ill-timed coerciye
movements hereafter.
The banks finish the month of July with a
surplus reserve of $5,3SL,O25, having lost
only half of the surplus which they had
about the middle of the month, when the
Treasury began to take in more money than 1t
dlsbursed. This week the Treasury will pay
out large sum. The $3,5O0,0O0 to be dis
bursod for interest will 20, OF course, TO
widely scattered holders. only part coming