New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-05-07

| plus reserve ia small, but money Is said 10 10
still coming in from the interior. The back
ward season has made the Spring trade very
light thus far, interior exchanges favor New
| York, aud exports of grain have been quite
large. and all these and other causes, t is
commonly thought, insure continued ease In
! the money market.
| 1t is possible, however, that disappointment
as to the spring trade may have an influence
| not now anticipated. Undoubtedly very large
stocks of goods were taken by many houses in
anticipation of great activity in April. But the
season has now advanced 30 far without any
thing like the expected distribution of goods
that the stocks to be carried over to another
season may perhaps prove quite large, and
collections may be found unsatisfactory.
natural consequence would be an unusual
demand for accommodations at the time when
the banks expect to gather resources for the
| fall business. Decided activity in trade during
| the summer would bring relief, but this Will
depend largely upon the prospect as TO the
crops next fall. Later reports have been much
more favorable than those forwarded rev
weeks ago, but there is still room for great
doubt as to the wheat crop, and the uncer-
tainty cannot be removed for some time 10
come serious disappointment in regard 10
the growing crops, added to the accumulation
of goods unsold, would make the outlook
unpromsing.
The possibility Of an extensive strike In the
iron works will not be overlooked. Inc
workmen and the manufacturers seem 10
be equally united and resolute, and the state
of the market undoubtedly is much more
favorable to the manufacturers than IL
was at this time last year. But workmen
are apt to be much more stubborn IN
resisting reduction than in demanding an
advance of wages, and they do not seem in
clined TO take warning from the numerous and
important failures which have occurred already
in the iron business Large stocks OF iron
are held in several Western cities, upon which
sums nearly or quite equal to the present
market value have been borrowed. A pro-
longed suspension of work at many OF the
Western mills would be likely to increase the
embarrassment of those holders of iron whose
resources are already strained.
The Treasury has disbursed at this point
about 81, 100000 more than it has taken in
since May /. and it's increase in cash on hand
and owned during the month OF April was
only about 100000. Ii gained in that
month only $4,000, 900 in gold against an in
creased issue of So 600, 900 in gold certificates,
thus virtually losing S2,000,000 of its gold
reserve. Its gain of S2,900,000 in silver dol
lars is wholly unavailable, and does not
even serve to balance the. increase OF
81, 100000 in silver certificates outstanding.
The main increase in cash was in legal
tenders and bank notes, while its loss at New
York since May has been mainly in gold. In
short. the Treasury must by this time have
lost considerably more gold than it gained IN
the month of March, and it ought to accumu-
late several millions before the close of the
fiscal wear. In doing so it will unavOidably
draw some money from the markets, but the
loss will not be felt in condition of none
tary ease.
The successful negotiation of several large
railway loans within the past few weeks, and
the increasing demand for bonds that are con-
sidcred safe, show that there has been large
amount of money unemployed. But the infer
ence often drawn that an exhaustless supply
of capital is presently to be invested in specu-
latiye stocks and new roads, does not seem to
be warranted by the facts yet developed. DIS
trust Of railway management and fear that
strife among the trunk lines may soon begin
again, have not been altogether removed. The
amount of capital recently invested is large,
but it does not follow that the amount still left
TO be invested is larger After having increased
its railroad mileage about one-third in three
years, the country may naturally hesitate little
before turning more of it's capital in the same
direction. At all events the present condition
of business is not 30 sure and prosperous as
to encourage unlimited confidence in new
undertakings.