New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-22
MONEY IND RHNLNESS

MONE1 1ND DDcINEOD.
The past week has been one of unusually
active speculation in grain, moderate dealings
in cotton and petroleum, and larger transac-
tions than have been seen for nearly month
in the stock market, while the volume OF
other business has been comparatively small.
Indeed, 80 far IA one can judge from the ex-
chances. il has not been rs small at any her
time since last Jnly. for, tn ugh the reported
exchanges were smaller for the previous week
and for one week in AUGUST, the difference IN
both cases was due to the speculation in
stocks. Deducting for sales OF stock, less than
$500. O00.0 of other ex hanges remain for
last week. against about $500, 900, 600 for the
corresponding week last year. The speculation
i'm products was about equally Gctive for the
two weeks compared, and the difference was
due TO the SIN illness OF other transactions
The weather has influenced business consider
ably. but uncertainty in regard TO legislation
on the tariff and internal revenue has prob
ably been still more potent. In dry goods the
presence in town of many buyers Is noticed, but
the dea ings appear to be smaller than has
been expected Dealings in coal have been
diminished by the weather and the partial snS-
pension OF pro luc.ion. The market for metals
is dull. with a weak tone "A to ilon,
lead, tin and copper. In the grocery
business there is general disappointment
NJ the condition Of the trade. Business on the
Cotton Exchange. says the Financial Chronicle,
"has been brought almost to standstill,'
though there was slight concession in prices
last week On the other hand. no approhen-
sion is felt the failures thus far this ear
have been relatively few and unimportant, and
the state of the markets is one OF inactivity
but not ut all of disaster.
The two speculative markets In which es-
pocial activity has appeared-the stock and
grain markets 49, have been simultaneously
moved to higher prices A concurrent adj
vance in stocks and in grain is not customary,
nor natural under ordinary circumstances.
But the decline in prices IN both markets had
been 80 long continued and considerable that
an inward movement in each offered attIac-
tions to spectators. III there is ground for
the belief that the grain crops will prove
much smaller than has been privately and
officially proclaimed, 50 that the supply Tor
tins year will exceed the demand but little or
not NJ all, then bright anic,paiiOns of enor-
nous traffic for the railroads in transporting
grain must he disappointed. Or, if 1t be true
that the grain crops are as large rs has been
officially reported, the railroads will have
enough to do at remuncrative rates, but the
holders of grain must look for very
low prices. In the end, therefore. either
the advance in gram or the advance in stocks
must he met with failure oil the especial
conditions upon which it has recently been
based But each advance may nevertheless be
continued for II considerable time, if the mama
rcrs please to use the power they possess, for
both markets are under the control of the
leading operators.
Since January wheat has advanced at
Chicago from 93i2 cents to 81 OILS, corn from
49li cents to G9l2 cents. aud the ceips have
fallen off materially. During Christmas week
/ .229. 900 bushels Of wheat were received ut
Chicago, Milwaukee, Detroit, Toledo, Indian
apolis and Peoria; last week only about
TOO. 900 bushels the receipts OF corn, then
. 800 600 bushels were last week only about
| 200. 600 bushes. The final estimates OF the
Agricultural Bureau make the wheat crop OF
1880 bO2. 7gS, 600 bushels, and the corn crop
| 6249l7. 800 bushels, but IL is said in justi-
icatlon of an advance that very small part
of the corn turns out to be Of good quality.
Sales in this market alone since January l
have been about 100000 bushels of wheat
and s.. 900 900 bushels of corn, while the
entire "vsible supply" in the country has
not exceeded about 21,000,000 bushels of
wheat and 1000, 900 bushels of corn, and
only one-third Of the wheat and one-scyenth
of the corn is at or near New York.
Neither legitimate business nor speculation
was perceptbly affected last week by
tho money market which was well
supplied The banks gained 100000 in
specie and 500 800 in legal tenders. notwth- |
an increase of $73O,O0O coin and
$275, 900 currency in the average of treasury |
balances. These statements correspond well |
with other returns which show receipts from the |
interior exceeding shipments by about $l,SOO,- |
600. The surplus reserve increased $SO4,O75, |
and. is now S,674, 775, but the favorable state
ment added little strength to the stock market,
been decidedly strongand rising before |
it appeared. The agreement of nearly all the |
strong operators to advance prices il the main |
cause Of the improvement made last week, for
the news as to earnings or general business is
ia no respect more favorable than it was one
week OF two weeks ago. After the decline that
has occurred since last July, it was to be ex-
pecteJ that operators would wish to bring about
an advance; how long they will continue it is
q question that they only can answer. The out
siders have at no time Of late taken any such
part in tho market as to control or largely |
its movements.
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A NEW REMEDY FOR INTEMPERANCE.
The doctrine Of compensation is sure in its work
ng. Some time since Prohibiuoniss were Mortified