New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-11-12
,fnNEY ND RES[NESS.

Business was interrupted by politics last
week, but apparently with favorable results
After the election a stronger tone appeared III
nearly all the markets, which was well main
tanned by increasing purchases and advancing
prices. Money continued easy, and the banks
strengthened their reserve. The receipts OF
specie from abroad amounted to 81, Sl9,2G9' and
S1.S43,30O was added to the stock held by
the banks. The failures i'll England caused
some scn,tivcncss in the money market there,
and il is reported the return OF some United
States bonds and other American securities to
this side, but not in such amount as to greatly
ovcrbalance the moderate but steady buying
for investment To this movement, however
the rise in sterling exchange and the suspension
of gold shipments from Europe are commonly
attributed. The exports last week, though not
considered large, compared fairly with those OF
the previous week or the corresponding week
last year. The large demand for money IN crop
movements is indicated by the statement that
the Treasury at all its branches increased its
issues of gold certificates $2,G17,0OO during
last week, of silver certificates $55S,00O, and
of legal-tender certificates $555,000; in all
S3,74O.O 900; while its cash in hand increased
lation slightly increased, the gain being in four
per cents, while the four and one half and three
per cents slightly declined.
With financial indications thus far satisfac-
tory, the markets generally have been controlled
by belief in better business and higher
prices. Wheat advanced from 81 90 on Mon
day to 81 1Ol2 on Saturday, and corn also adj
yanced the sharp rise at Chicago was due in
mart TO the expectation of war between France
and China, but there was also prevalent feel
ing that in any case prices had gone low
enough The oil market, after two weeks of
steadiness and strength with dulness, rose
briskly on Frida& and Saturday, and the ad
vance for the week was cents. Provisions
were held more firmly, and the tone in lard
was decidedly changed; though there was If
regularity in cheese, butter was more firm.
The tea market is thought TO be in better
state than for years past, though the tendency
in coffee and sugar was rather weaker. The
cotton market also declined a sixteenth but
evidently because of the influence of recent
failures upon the Liverpool demand. In the
dry goods market it was noticed that many
more buyers had appeared since the election,
and the demand was better than had been ex
DCCtCd, though no auNdhce III prices OCculTcu'
Indeed cotton prints were rather weak, but
cotton goods were firmly held, and the pur-
chascs of woolcns, though moderate and eau
tious, included some heavy cassimcrcs and
suitings, while there was some demand for
spring goods. Satisfactory collections in nearly
all parts of the country are reported, with i'm
proving business at the West and South.
The most interesting transaction of last wecl,
was the sale of steel rails by the Lackawama
Company at $50 per ton. It is now stated that
1870 900 tons for March delivery have already
been sold at this price, though by whom the
additional 100,00 tons were sold does not APP
pear, and that contracts for 100000 more are
pending. These large sales and negotiations,
if correctly reported, indicate that price has
been reached at which heavy demand may be
rxpcctcd and those who have held off because
they looked for a further decline may be in
fuenccd by these transactions to place their
orders before the market has advanced again.
Some No. pig iron has been sold at $50, and
the market for manufactured iron is low and
weak, but the rail manufacture consumes so
much ore and iron and occupies so many oStab
lishments that recovery in that quarter would
soon have influence on other branches of the
iron trade. Nail manufacturers are considering