New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-12

1881 $40 600 OOO, we exported $27, 100000 more
gold than we imported. II each months settle
ment of the balance GetTeet there would be
some show of reason in the wonder SO oIITh
expressed that in view OF the IaVoI bace
change IN the balances, winch dateS oack
to SeDtembrr 30 1882, the foreign exchanges re-
main so strong as they do. BuI the merest tVro IN
commercial and mercantile affairs KNOWS that our
evnorts create exchange Immediately or are cash.
while large proportion of our imports are maze
upon q practical credit OF from three 10 Iour
months The tide of tbs merchandise movemeh. as
compared with preceding wears turned against me
con,itrv in September. 1881. but we exported no
gold until February 1882, and the showing now
made upon which so much comment IS heard pc
cause of the favorable comparisons made with the
showing of q year ago, would have been considered
poor at that time. Again, 10 allowance
j. made i"T oI IGe and dividends pad
to foreign holders of our securities. BY genera
consent those items are estimated to amount 10
500 900 900 per annum but there Is niue qles-
ton that the estimate Is too low, particularly III
wear when the freight-mOneY is 10 ne compute"
upon 81 500, 900, 900 of merchandise carried
The Stock Exchange markets last week moVeu
rregularly in all the departments. Government
bonds ruled dull with considerable depression III
the prices for the optional issues. ana laier par
tial recovery. The opinion gains ground that tne
12Oth call for bonds was not warranted pS
the prospective revenues OF the OoVernheht
and hence that future calls VII III, 9e
infreuuent aud for small amounts. The hnal Dlus
for the IS and Los s and 81 respectively lo"9I
than a week ago and for the Is and 4i2s are =
higher State bonds were neglected 1or ne Al al
kansas rs there was sharp decline rom INC - Hu
yauces of the preceding week. but toward tne cloSe
they again were in active demand and recovered
about onehaf of their losses. Railroad bonus were
moderately active and for issues higher values
were marked, but such movements were syhpa, netIc
with the changes in their kindred share. Among
miscellaneous bonds those OF Mutual Union "eIc
specially active and rose from z 10 TO 80.
The share speculation was interesting. but the
movements were characterized Dy much ieNerlsn-
and uncertainty. Early IN the week mere rev Wa
,ad a lar
accounts stcaded the market, ana impaired 10
prices better tone. That was followed by pr
chases under the rule of some 1000 shares OF Lake
shore stock against "shorts" who had failed 10
return borrowed stock when it was called. ms
had the effect OF checking trading IN that Stoch no
that at times during the following days close quo
tations for it were unobtaInable but Il stimulated
general buying III OF shorts IN o,ner
stocks, causing an ephemeral nut uhheaiihS
activity, The market also was stimulated ny re-
ports of settlements of the Geographic ana eleNalc1
railroad wars and of new cOmbina ions lhe latest
of these repnrrS was that of consolidation OF the
Central and Union Pacific railroads ms was Tue
occasion OF UnlOn Pacific selling up to o9'2 aitSr
having been down to 81 early IN the week. nan
road earnings. whether reported gopu or pau hau
little or no effect upon speculation because III bnth
cases they are believed TO be exceptional. The
losses since January as compared with the earn
lnps of 1852, of the Northwestern ComUani OF
$3.50 600 on an increased mileag' OF 40I miles. OF
the st Paul of $214,100 with 3Gl more miles
and of 3d. 100 by the Omaha with l67 more miles,
are without effect on prices, because 1t j. believed
that the losses are due 10 snow blockadoS. Aad so
with the large gains shown by nearly all the ''u' IL
western companies their prices are not thereby
stimulated because an extraordinary cotton
movement, which largely contributes TO the gaius
Is not believed To he permanent. The total
transactions III stocks for the week amounted 10
52OI2G sharcs against 2,2l7,l92 FOR the prece +
ing week and az inst >, y 300 shares TOR th' week
preceding that. Union Pacific, 81. Paul, Delaware
Iackawauna and Western. Western Union, Denver
and Rio Grande. and Northwestern contributed
I4S7 900 shares TO last weeks total business. lie
prices generally are from Il to 81 higher than they
were a week ago The notable exceptions are Chi
cago Burlington and Quincy, Union Iaclhc aud
Denver, and Rio Grande.
WEEKLY RANGE OF PRICES