New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-15

deducting the specie movement OF tne e.eso"
months. and the exports exceed the imports @iVoIs
Ss4. The above are frozen facts, certified 10 os tne
f,ureau of Statistics at Washington. Now II start
ing January /. 1882. with a balance TO our creuie
ON the business of 1881 of $163,396,22o on tne
merchandise account or including the specie move
ment of 1881. with a credit balance OF $ll4,ooo'-
IT'S. the United States during the next eleven
months exported $34S17,5S9 more specie than
it imported, what is it reasonable TO expect IRON
the result of the next eleven months business
ended November 80, 1882. which was debit pal
snoe on merchandise of $1S,2S9,295, or. inciudng
the specie movement, a credit balance OF only
$40. S2s .2S47 The total of imports and ex-
ports of merchandise for the eleven months
of 1882 amounted to $1,36S,331, pa;
it certainly IS not too large to estimate the freight
on that vast sum at $G5, 100000, nearly all OF
which is due to foreign bottoms and adds so much
TO the Indebtedness of the country and to that is to
be add d our annual dues for interest and dividends
on American securities held abroad 90
800. 100000 TO cover these unknown amouhts Vi
annual indebtedness seems hot TO be large
estimate. In the calculation which places TOO great
al immediate value on the favorable change IN
our foreign commerce which undoubtedly mas
begun. there are two important factors III the
situation winch are omitted. First every cargo OF
p reduce or manufactures shipped from American
ports instantly furnishes the market with exchange.
while the demand for exchange to cover very
large part OF our imports does not occur ill three or
four months after the goods are landed. second
If is now beyond question tnat when exchange was
selling at the gold-shppIng point, bankers freely
used hel, credits abroad and sold tnelr DIS 10 eet
| the demand-thus gong "snort OF eAchabge az
| rates where there was no possibility or loss anu
| iair chance for proft 1T seems to have
neen done to a much greater extent lha1
was supposed and fully explains why inc demand
| tor comm, rcia bills has continued so active at
| times IL, ENVY, when the mercantile demand LOT
| baukers bills was small ami SOW. How or 10 What
| extent he movements OF securities may lnnuepce
toe future OF the eXchangesls matter OF specuiA-
ton out is clear that IT Will require many oht,
| with results Ike that of last November Tor me
| MERCHANDISE movements alone 10 resSoic ah 0e"iiA
| br,um in the tralie balances.
There " as Tile cnange to note in the commercial
| 81 uatlon last week. except greater speculative
activity There was large falling on in he receipts
OF flour and gram, both at Chicago and milwaukee,,
| from the preceding weeks OF this year ana from
| tie same week Of 1852. The shipments eastward,
| however PRINCIPALLY Of corn), show considerable
| ncea o over the weeks before mentioned The re,
turns of exports from this port Tor iasI week VIII
show "a large decline from the preceding week III
| flour anu wheat and very large increase III corn.
he speculation IN grain ana PROVISIONS was aItipS
ali the week. II, however, was Irregular, Dt closed
| with "a decided " BOOM" AT chicago, corn LOT Jan
uaiy DELIVERIES recorded hna advance on the price
| OF "a week ago OF cents; Tor February, the prices
| were no 33s cents Wheat closed about i . cents
| higher pUrS aOout 50 cents up and lard 80 cents
| The cora received continues 10 grace very low
| and that and The smaller receipts nave more
eject on prices than the rel sentations Whcn are
| made of the situation abroad. III begins 10
| De ,honght mat he crops have been largely over
AZ lat d; but whether they have been or not IL Is
realizeu ,nat view of tue short crop OF 1881 ana
| tue nigh prices eaIly In 1857 having pretty lho;
ON ly aued out tne granarles OF the country. IL
| is u, %. able that the movement OF gram lot
1883 viii not exceed that OF looz
un.ess high figures rule. AS 49, was
| .xpected tnr cotton movements falling of from
mnae they have been. lie receipts az all the ports
ended last Frl"ay were 40 49, balcs' asains.
| 2Z4 1917 bales (, the preceding week aud ll3,oOS
uui Tor he week IF 1882. and the receipts s,neo
| epieluner L have been 1851 ,S41 bales, against
$500 40 the same PERIOD OF the preceding
Ter fine e1 yni. IS last week were I6I,Z0l bales,
AGAINST 1875, 0Z3 tales Tor the preceding week anu
| against o,340 bdles f"r Inc week OF looZ. Shce
SeDcInDer tue ports nave been Z4Zo, lO3 OdIes'
| ai.st l.sol l34. Al date for the years named,
Ine s,ocAs III Europe anu the quantities. aBoat for
| Europe roupare as follows: 1888, LII 200
b.ies: lss2. 55Z $50; 1881. l,5U3,G4O; 1soO,
| lJJ4. 800. rho American stocks q, anne aaleS
w.ro /, 2o5,20O bales, l,545,oOO, l,2O4, 100 anu
ni3 700 respectively. lie IRON ana coal markets
| ale drifting tho on,y buoyancy ABOUT them pehg
| an The noves tnat the tide Will turn; Dlccs favor
| MYERS AZ was understood on FRIDAY that tue
aD1lracte coal interest nad agreed TO an indehnlte
rest,Ict on OF production 10 three days week Dut
IL WAS annOuuced YESTERDAY that the Lehigh anu
sehu, lkill miners bad dUmurrcd 10 the pan pro-
posed ii thas report Is uue the SITUATION Is cHti-
At the stock Exchange the prevailing feature of
the wees Vac that of stagnation ooyerument
b. nds ere quiet AL tine way out, with some nrcgu.
IarIty IN prices Dids for tue IS are b lower aud
lor the ~ Il higher than week ago. Stat
bonds were mOdeTaleF active, but the
D lnclpal dealings were III Arkansas ald and
| No,,h IaroiIAa special taxes Railroad bonds
| nr,s,ntno no spelal features, except tuat there
were some advances mace Tor a lew OF me specua-
I've Issrs, "a by Reactions; urst-cass lnyest
! | u.ut bonus ruled sit auy, the supply Oeng iuly
| eCua 10 the reIaiI demand that tnero was VI the
STOCK market htle Is required 10 be
said Inc week permitted OF 10 radl-
ca, changes III the situation; prices
| ,o,e ana ,,eclined as moved by the local trades
some stocks IN the absence OF any pressure 40 sell
| ,how.1 a ueeree OF nTmneSs, while The prices ioi
others declined under very mOueIate OHefhgs' Ont
| lr;,.ure OF the speculation perhaps was more
| fully developed thai II had been DclOrc
: | tuaC L. ne staring Of rumoIs elmer thal
SIM prominent person some company was Try
in Ia putcase controlling lnteIcsU IN some STOCK
| which -Une one was ANXIOUS 10 sell. lie business
| OF the We aInounied 10 l,2l3,44O shares against
Coo SO shares for the preceding week 10 day
| A.o1pansOn Of The closing prices 81 last evening
WITH t.. .a.G Lgu Tres OF tue preceding week show'
considerable irroguarity i'll tho movements out lew
| o. The changes III either droc Ion are OF suincleh
| magnitude To bo O1 any significance
WEEKLY RANGE OF PRICES.