New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-19

orally believed that Congress Will 10 SolneIilhS
to reduce the revenue, and meanwhile the
new call for $10,000,00O bonds gives assurance
that enough money to meet any emergency this
winter can be taken from the Treasury
through anticipatOry payments of bonds delly-
cred. The imports here happened to be quite
large last week. and thus far are about as large
in November, 1888, as in November, 1882.
But the swelling revenue probably comes III
large part from the payment of the tax on
whiskey which owners are now obliged to take
from warehouses. Receipts of that kind will
be large this year. II
The state of foreign trade is somewhat en-
cOuraging. Monthly statements show large
increase in value of provisions exported,
IS, 1913, 797 for last month, against $4,662,626
in 1882: a large increase in corn, rye, barley,
oats and flour, with decrease in wheat, and an
aggregate of $14,651, $50 for brcadstuffs,
against $l5,362, $3.50 last year; and evidence
of a general improvement i'll miscellaneous
products. In November, too, the exports OF
cotton have been larger than i'll November,
1882, shipments having reached 2O7,S2l bales
last week, against 16O,3 800 for the correspond
ing week last year. The collapse of Ranger
seems to have favorable influence upon this
branch of trade. After several fluctuations, the
rates of foreign exchange are just where they
were more than week ago, a circumstance
which, considering the dulness and narrowness
of the market, does not seem to support the
theory that important shipments OF United
States and other bonds and stocks are being
made to this side With money market re-
markaby easy here, and promising to remain
So with present trade balances not large either
way, and no important financial negotiations i'll
progress to control the movement, the ex-
change market would naturally be dull and
would 1uctrIate readily day by day on slender
provOcation, IA it does. At all events, the
market for securities gives no sign of Il pre-
ponderancc of foreign sales
In the railroad world, the most important
events of the week have been the union of the
Lackawanna with the Eastern pool, and the
notice given by the st. Paul of its intention to
withdraw from the Iowa pool. The accom-
plishcd fact at the East more than balanced the
threat at the West. both in Importance and in
certainty. The cattle movement which seems
to be the sore point with the Iowa pool is not
quite important enough to justify rejection OF
all terms by either party, and the notice oil
Withdrawal gives ample time for settlement Of
differences 80 that it is considerably premature
to take it for granted that the end of the Iowa
pool has come. The assent of the Laclawanna
to the Eastern arrangement will place the
pooling roads in better position to meet the
question, which will arise some months hence,
when the West Shore will have ascenaincd
what business it can command, and until that
time IL, movements will be restricted by the
fact that all the roads reaching Buffalo are now
under obligation To observe the pool rates.
The bratcd Erie statement for August, with
gain of S737.Sl2 in gross and T31l,9S9
i'm net earnings, cannot be strictly com
pared with previous returns, because 1t m
cludc~ the earnings of the Ncw-Gork, Penn
sylvania and Ohio, but it gives an cncour-
aging impression of the earnings OF other trunk
lines which make no regular reports. Ont oil
forty-two roads reporting thus far for parts of
November, only ten show any decrease, aud Of
these the Wabash. Manitoba and Alton and
Tcrrc Hautc are the only roads of Importance.
The Gain on the Northern Pacific, over $780,
600. or 30 per cent, for a single week ia alto
gcthcr the most noteworthy. Shipments, from
Chicago continue 10 increase, and reached
5000 tons last wccl, of flour, grain and pro-
visions only.
There wa, some depression in grain last
week the weather favored a large movement
from the farms, the foreign adviccs were less
stimulating and the report of the Agricultural
Bureau put an end to dreams of short corn
suuply. Cotton declined Il shade with modcr-
atcly active speculation. Hog products have
been more active, with some tendency to an
advance, and sugar and coffee have been dull
without noteworthy change. Oil rose rapidly
to ~ 1911, but realizing caused subsequent
decline to 81 II; refined has advanced to .
cents. Some iron and steel works have discon-
tinucd operations on account of low prices, but
additional contracts by others are reported, and
the statement by the Secretary OF the AS>ocII-
ton /, considered highly encouraging.