New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-06-05

sume iron and ore, coal, coke and other mate
r1ols. and when other works in great NUMBER,
which depend uDOn the rOlling-mills for IRON
to be used in all forms of manufacture, are
compelled to restrict operations, the efiect
upon the general trade of the country must
soon be clearly perceptible. The striking re-
ver too, il often epidemic, and spreads WIN
ont visible reason from one industry to Others
These causes quite account for whatever de-
preston in business has occurred; indeed, IL
is an evidence of the general health OF trade
| that it has not been more seriously disturbed
than it has been thus far. 1t indicates that,
if the strikes should cease and the crops should
turn out we'll, decided improvement in busi-
ness would speedily follow.
The money market has been very little
affected as yet. The shrinkage in domestic
trade sets free for tho time more money than
is demanded by the excess of foreign imports
over exports. Only about $27O, 800 in gold
has been sent abroad during the past week,
and the effect Of Treasury operations was
such as to cause a decline of only $1,2O9,9O4
in the specie average of the banks Evidently
they received from the interior in legal ten
ders more than they lost through all causes IN
of currency balances 1929, 1877, and yet the
banks increased their legal-tender average
| $1,154,5OO. The fact that money was not
drawn to Europe more largely, however, must
| be explained by the lack OF present demand
at foreign monetary centres rather than any
| favorable change in the foreign trade of this
country. Imports at New-York last week
were $40. 148, 9S9 in value, against 81, 49,, 215
| for the corresponding week last year, when
the movement was exceptionally small; but
the imports for the past five weeks at New
York have been $4S,997,2S4, against
! $3.50, 1872, 749 last year, while tho exports OF
| merchandise for five weeks have been only
| $2S, 1913, SOP, against $35, 444,7S7 last year
Nor has there been any change In the
| movement of securities of such nature
as to lessen balances due abroad on
trade account At present the foreign banks
are largely increasing their reserves for, though
the Bank of England lost 81, 100000 in bull
ion. according to Thursdays statement it
gained 81 ,55O, 900 within the succeeding day,
and apparently held $117,OS7,2OO in gold
Saturday night. The Bank of France gained
! 1926, 900 last week, and holds SlS6,242,6 43
| in gold the Bank of Germany gained
81 900, 200, and now holds $146,015,OOO in
gold and silver. In the absence of more ac-
tive demand for money in Europe, trade bal
ances due from this country may remain I'M
settled for some time.
May 1881, was month Of extraordinary
transactions, and it is neither surprising nor
discouraglng that the exchanges have recently
shown some decrease in comparison with those
of corresponding weeks last year. At New
| York, however, the decrease last week was
| 69.1 per cent the greater part of it being due
to comparative inactivity in the stock market
But after allowance for the difference IN sales
of stocks, the decrease in the remaining ex-
changes was over 81 per cent. The transac-
tons at Boston, Philadelphia, st. Louis and
Baltimore were also smaller in every week of
May than those of the corresponding week last
wear. and for the week ending last Saturday a
decline appears at Chicago, for the first time
| in MANY months. SO far as this indicates a
less active speculation in breadstuffs and pro
visions it is an encouraging sign.