New-York tribune., 1882-02-27

sell at prices not far from the present market,
it is natural that they should wish to see
money in good supply. At the same time, it
evidently suits the present purposes OF several
OF the strongest spectators to have money
easy, for the condition of the banks is such that
money could readily be made scarce and dear if
any strong operator desired. The financial
condition abroad appears to be much more
satisfactory than could have been anticipated
a month ago. The Bank of England holds
$1O5.82O0OO in gold, and has reduced its
rate to per cent. The Bank of France re-
ports $165, 100000 in gold, having gained
$50, 100000 in little more than a mouth and
has reduced its rate to 4l2 per cent. The Bank
of Belgium has also reduced its rate 10
the same point. and the liquidation OF
speculative business seems to have gone Tar
enough to remove the fear Of further disasters,
though the coming monthly settlements will
be watched with interest. Thus no reason
now appears for expecting that further de-
mands will be made npOn this market on ac-
count of special stress and need abroad, and
if we have gold TO pay it will be because
merchandise does not go forward in sufficient
quantity to pay for imports and American
securities sold here.
Middling uplands cotton has sold at 11os
during the past week, but the sales for export
have not been of any Importance since last
Monday. The exports for the week ending
Friday were 1926 bales, against 97,511 for
the corresponding week last year, but the re-
ceipts at ports are now Ealing far below those
of year ago, and the stocks on hand, though
1 "A > laIn I I ot a
date last year, are gradually diminishing. This
was the pretext for some tendency to advance
Oh Saturday, though prices here are already
above Liverpool, so that foreign purchases are
restricted The exports of grain were also very
small, notwithstanding the great decline in
prices which had been effected week ago.
This sustains the opinion then expressed that
a still lower range of prices must
be reached before the surplus wheat IN
this country can be marketed. The actual loss
of wealth 10y partial failure of crops may prove
less important than the loss which may result
from failure to market the cotton and wheat
that we actually have for sale.
The trunk lines have refused to make an ad-
vance in rates Oh east bound freight, and it
may be more than they can do to get the rates
now nominally in force for the small quantity
of freight that is offering. Navigation is now
only two months Off and people who believe
in short supplies are not likely to be in haste
to forward products at present prices Though
the meeting early in March is generally ex-
pectcd to complete the peace between rail-
roads, many feel that the railroads will hardly
be able hereafter to maintain as high rates as
were formerly customary. Nor can any ar
rangement be made that will last, unless it
includes and is satisfactory to the additional
competing lines that are soon to be finished.
In view of these facts, there is probably less
confidence felt in the future of railroad prop
critics generally than at any time since 1873.
But year of good crops would doubtless
make great change in the prevailing i'm
nressi0n.