New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-10-29

The export movements during the week were light
of flour and wheat and only fair Of corn and pro-
visions. Europe does not yet want our grain at
the ruling prices. The stock of wheat both abroad
and at home continues to accumulate yet 1t looks
a. if il was possible, II not probable, that the
speculation in the grain markets may witness just
such movement a. that which recently occurred
in the stock murkct-and lk" IL, based upon the
oycrsold condition Of the markets. II is easily
conceived how shorts in wheat M
about 90 cents might become frightened
at their position and materially advance the
price upon themselves, despite the large stock.
The Visible supply may continue to increase
for few weeks longer: nevertheless IL is true that
the real total supply cannot be- increased until the
coming in OF the next crop and it is stated that
the season has not been favorable to the seeding Of
the winter crop. Yesterdays markets looked rs if
these considerations were about 20 be- urged upon
the speculative situation for all they are worth.
That is one side Of the question But If prices are
spcculatively advanced. what will be effect
exports Here is a question which presents a more
important aud serious point. If Europe does not
require our wheat at 80 cents and our conn., in large
quantities at - cents II she likely to buy them at
10 or ! . cents more
The iron and coal trades do not improve. Prices
for iron are weaker than ever and the situation Of
the dulIldrilf tid lIUN' ~ bll'llN l'A ~ 'f In
giueerinJ and Mining journal as follows:
with the exception Of steam coal. for which there IL
demand the basis ut about - -, lhcIc II very
fI M, IL now In the trade II continues dull and NE
les. with some pressure 10 sell aud very disposition
tn buy. About the beginning OF December. ia, trade
drltions that the heavy output Of the cuIrnt
year win bring the opening of this s"a-on tuy month
ifr aud well informed nb-erycr- OF the trade look
"a iNrthcr c,siug up Ia the nr-t week 81 November II
remains 20 De- whether the pressure VIII become IS"
great n To restriction OF the output buyers
opportunity Ia purchase 20 hotter advantage th. ana
49, --trutly keeping ~ the market Nth the cS-
ccpfon oi those who must stock up before navigation
Except occasional umor- ~ low prices there is nothing
To- turb tao apathy 81 the htUu.Upu- coal trade. 10
all but u few the season has been very Disappointing
The local money market last week presented an
anomalous aspect The banks began the week with
their reserves below the conventional rule OF 20
per cent; their weekly statement OF averages
show, loss of $l3Ie,7OO in spcci" and legal
tenders during the week a contraction OF 72'Soo'-
900 in loans and los, 10 the surplus reserve ,or
rather an increase in the deficit Of T2'O323. Yet
for call loans AZ the Stock Exchange the rate was
not per cent, except during part Of one day
loans ruled generally at 2a2l2 per cent. year
ago the rate ruled at 4G5 per cent during the week
corresponding with last week, aud at ga - per
cent during the succeeding week. The bank state-'
mcnt OF year ago showed surplus reserve OF
Fl, 5g1 800, instead rs now a deficit of T3O',0JO.
The items at that date compare with those III
Yesterdays statement "a follows: AssetS-Loans
now are $l3,O56,7OO greater; specie is T3b"ooo
greater, and the amount Of legal tenders ~
$685. 700 greater total cash, fi3l2,IOo grehter'
acknowledgements now are T2+N12,6Oo greater
and circulation is S3,f2S3OO smaller. Inc 10"
rates for money however, are available only on
call loans upon pledge Of stock or bond collateral
The same class of loans on time are not easily OBJ
tainablc at . per cent, and iirst-claSs meTcanl!e
paper meets with only limited sale at u per cent
This condition of aiurs is not healthy nor Sails
factory one and if is beginning to attract more
than usual attention from thinkers who wish TO
learn its canse.
The domestic exchanges on New-lork at the prin-
cipal interior commercial points are against thus
city only at the cotton ports while at the East the
rates favor movement of money 20 this city.
The foreign exchanges ruled dull and weak all
thc week but that condition not the result OF
the actual commercial situation. a slack demand
made the banks opportunity 10 mark 10" rates loI
their own bills for basis for their purchases Oh
such commercial bills as were Offering. On lhuis-
dav rates were reduced L. cent per I, or To within
10 cont of the specie importing polhti pui My
small demand on the succeeding day had ne cIe ,
of quickly restoring the rates To Whal iHS W. w
before thursday. For some time DacK tIclo h ~
been dribbling receipts of gold nom Europe W.
this has been because of some eXceptlonal Ic1s"i
and not he result of exchange transactions. les
tcrday the Bank of British Noiih amer. 'rt
lea. of Montreal received at TINS port
fi62 900 in gold. II is quite likely that consid-
criug the condition Of affairs III 'uh4un'
thc managers of that institution deemed 1t
prudent 10 call in its resources from all points ne
liable at the head of this column giving the imports
and exports of merchandise and specie from J aG
ary To October ~ for three years, presents siBhu
cant figures IL shows that in the business Oh lortS
three weeks of this year the balance agahsl to
mort. with difference of only % l,J12 III me
specie movement is $02s6G,G2l, while Tor lho
same time in 1882 il was 500 i23,S3o AFTER eA-
porting $50 POI 4l3 more specie than was Iinp1i'ST'
and against So 223 J13 for the same time IN 10
after having imported $l2 S3O,9O2 specie 10 ru.r
the difference 20 that amount. After TINS u'te ~
1851 the imports of gold at NeW-l3lA Wt,iVV Uun64
~ 0OO OOO and in 1852 were only $2,9OOUOO;
Our imports of merchandise are running iargct ana