New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-23

MERCHANDISE.
Imports s2ss4e5eel s2s34oC.4ss s26l. lg7s55
Exports 2Os.74s.72s l746ol.227 le97e9Ool
Imports IN excess .,o. -ooo,, a., AZ, ssa
OF exports S29I403G3 sos Io92ll Sil4Vioos
SPECIE.
:' SSsSslS $685.; StR 'Es sssss
Imports in excess -, ooo,,c
Exports in excess .. .oo- 900
OF IMPORTS S3O,SOo,ooo SoO''Voo
MERCHANDISE AND SPECIE.
Of eI9orts...... s53lS2.ll9 s72,o39s4e s7O.7977ss
The commercial situation last week developed
little that is new or interesting The strike of
telegraph operators dampened operations during the
latter part of the week, and TO certain extent II
unquestonably reduced the volume of transactions.
both Of legitimate and speculative kinds. The
specuatIOns In the various products were egular
aud were more governed by the daily conditions of
the markets than by tangible influences.
The export movement of cereals continues
small although better prices ruled for wheat
during last week in the English markets. 1t should
be stated however that the speculative markets of
Great Britain are moved by the same influences as
are worked IN orr own. Cotton ruled lower az
home and in Liverpool, although there were some
smart fluctuations in futures" on various and
contradictory reports concerning the growing
crops, The exports last week were 2O,7i2 bales.
against o5.63S bales for the preceding week, and
against 257 bales Tor the corresponding week OF
last year. One more important failure IN the iron
trade-the Manchester Iron and Steel Com
pany, Of Pittsburg-was reported, which, al
though not a surprise to the trade, places
another large lot of bankrupt iron and iron ore upon
the market Prices for iron quoted as steady,"
but the production seems still TO be equal to the de-
mand, which leaves 10 margin for the working up
of the previously accumulated surpluL Little
il doing in the anthracite coal trade except in
execution of contracts made In June. The follow
ing statement from The Engineering and Mining
Journal is significant and indicates the true inward
ness of the situation:
Presldent Roberts, OF the Pennsylvania Railroad.
called conference az Philadelphia Friday last, OF
the Western shippers OF anthracite coal over his road
the Pennsylvania Railroad OF the completion new con-
nectOns OF coal roads TO the West WIS iny
determination not 20 permit any diversion OF trade out
IL II not believed that the heavily increased tonnage
can be placed on tho western markets. without some
roo 1Sncb there while well maintained here the d.
version to the seaDosrd might d6mo'ahSe the trade
The week was a quiet one in mercantile circles,
but perhaps not more 40 than is TO be expected at
this season. The time, however, Is near at hand
when there should he a marked improvement in
certain branches, If the sangune expectations o.
large and prosperous autumn business are to be
realized. The Unexpected failure OF L. W. Hol-
brook & Co. gave a chill to the dry.goods trade.
The local monetary situation last week was
one of extreme ease, indicating great
nlethora of loanable capital or u stagnation in
the usual methods of employing 1t. Rates
for call loans at the Stock Exchange ruled at 2i2G
per cent. But there IS little deposition ON Ga
part of lenders to make time loans at less than SIX
ner cent and first class mercantile paper does not
mass easily at less than 506 psr cent The domes-
fic exchanges ruled without material change all the
week and so little in favor of this city that the
balance Of the interior movement OF none for the
week favored the city banks only about $500, 600.
The foreign exchanges rulel dull aud weak until
actual business in bankers bswas down the basis
of ~ SI, and 81 ST respectively for long and short
sterling In some quarters lower rates Tor exchange
are expectod in the immediate future. because OF
forward drawing against future exports OF cot
ton breadstufs, etc But the conditions which var
ranted bankers in doing that business so extern
syely ~ they did last year, now do not exist.
Money now is per cent in London instead OF per
cent the Bank of In gland now holds 81 100000
less gold than It held year ago. and although the
Rank Of France now holds fs40, 900 more gold 1t
holds "a 500 900 less silver than 1t had year ago.
A year ago bankers could sell their sixtyday bills
NJ rates based upon the godshippng price for sight
hills and in doing so possible risk OF loss.
"a the rates at which the bills were sold
afforded u profit the shipment OF gold II
that was necessary at the maturity
Of their bills. Again. in the face of the large stock
of cotton aud wheat now in Europe and OF the
good prospects there for the crops until there Is
change in the situation, the outlook for large ex-
ports in the immediate future is not promising
The Stock Exchange markets last week generally
vers more active than they had been IN preceding
,yeeks The stock speculation specially notice
ahle for its larger volume OF business " So1,oOO
sharesl and its wide fluctuations Until Thursday
noon there wac q continued depression In values,
Central and Hudson sold down to 1885, Lake Shore
western to 1854 Manitoba to 1O4. ex-divi-
dend Canada Southern to 63l2, Missouri
Pacific to 1884, Wabash preferred to 39i2 and com,
mon stock to 24l2, Delaware. Lackawanna and
Western to 1929. Central of New Jersey to s4oS
Reading to 54A and Western Union to 7!st. and all
other stocks made proportionate decllnea The
prices however. had shrunk rather than fallen. AT
no time there 50 great pressure to sell as TO
indicate any more rapid movement. 10 was the
steady progress of liquidation in market that all
The " short - interest hquldated as well as
the long interest so that when the shrill whistle
sounded at noon Thursday, which was the signai
alike for the telegraph operators To strike ana Tor
turn IN the stock market there was very little hurry
on the part of bears" as prices started up anu
Figures rose almost as quietly they had declined.
OF course there were occasional spasms wneh sono
particular stock was momentarily moved py uupn-
cation of purchasing orders bnt such perious were
short and always followed by dul! r9ac.Io9. J
action of the railroad officials last Thursday ana
riJav yvas urged as reason why the prices should