New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-04-09
The decline in wheat from 81 O0la March l

The decline in wheat from 81 09i2 March
| to 81 O0lo April has been in part due to
| improvement in crop prospects, which are now
said to be excellent in California and very
| good in Kansas, and in part to the failure
of operators to market the large supplies
brought into market in March, the
shipments from Western ports having quite
sharply declined toward the close of the
month Though the shipments were larger
last week, they were not enough larger to
prevent continued accumulation of grain
Similar causes have affected the corn market,
though. of course, no opinion can yet be
formed of the probable yield this year. 1t is
stated that recent rains have materially
helped the winter wheat at the West, which
was thought some weeks ago to have been
seriously injured. Nevertheless, the impress
sions obtained thus early in the season, though
influential in speculative quarters, are little
premature as basis for any substantial bust
ness estimate.
The New-York dry-goods agents have not
succeeded in obtaining change of classified
ton from the Trunk Line Commission, though
the subject was seriously considered with ref
erence TO the growing competition by Southern
manufacturers in Western markets The East
ern manufacturers represented that this COM
petition threatened not only to cut off con-
siderable part of their business, but also to
deprive the trunk lines Of an important and
profitable traffic Failing with the commits
sion the Chamber of Commerce now asks u
hearing from the State Railroad Commission
ers in effect proposing new classification
based upon the value of goods shipped, so
that case of sheetings worth $75, more or
less, shall not be charged the same freight as
case of silks worth perhaps $4,000. The
object is to bring about great reduction
in the freight on the cOarser or cheaper
goods, in which the competition of new mills
at the South is most effective.
The banks reported OH Saturday a gain of
only 1866, 800 in their reserves, and, owing
to an increase of 81 ,036,20 in deposits, the
deficiency as compared with the reserve re-
ouired by law was only reduced to $3, 7Ol 900.
The average of Treasury balances here was
S773, go lower than for the preceding week,
and some money also came from abroad, 80
that the statement of the banks indicates that
more money was sent to the interior than was
received thence. This does not agree ut all
with reports collected by The Financial ChrOR-
icle as to the receipts and shipments by the
leading banks, but the weekly statements of
the banks and the Treasury returns are official.
At the close of the week the Treasury held
So, 500, 900 less than the average of its bal
ances for the six previous days, so that the
banks were probably stronger at the close of
business on Saturday than their statement of
that day indicated. AT the same time it APP
pears from the Treasury statements tele-
graphed from Washington that the Govern
ment must have taken in at other points as
much money as it paid out last week at New
York, because the gold and silver held by the
Treasury at all points in excess of certificates
outstanding exceeded little the amount held
at the beginning of the month The exchanges
at Ncw-York last week were $100,O0O,OOO
larger than for the preceding week. partly be-
cause monthly settlements were embraced, and
partly because greater activity in stocks had
appeared. But the volume of payments, OK
elusive of those arising from sales of stock,
was $31, 700, 900 less than for the correspond
ing week last year, or about per cent.