New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-04
MONEY And BUSINESS.

II
Another week of strength and progress in the
stock market has added TO the evidence that
the growing confidence in Republican success is
bearing it,, natural fruit. The market has bad
dull DAYS. rs is usual in midsummer aud at
times the wrcckcrs have created an impression
that the strong men had sold out again, but
in each ease prior to Saturday they and their
followers were dishcartened 10y another display
of strength They are now engaged IN the
same old effort; the advance, they say, seemed
to have eliminated, and on Saturday there
were signs OF WEAKNESS But the dullcSt fire.
0ucutcrs of the Street know that the Saturday
aftcra sustained advance is apt to be n day of
rcalizltions for small traders, and of rest and
absence i'm the country for the larger dealers.
IL /, further urged that the advance in three
weeks has been rs great rs the decline in the
three continuous months Of disaster prcced-
ing. This only indicates that but for political
apprchensions the prices reached three weeks
ago were decidedly too low. Whether the
course Of the market is now or soon 10 be inter
ruptcd by one of those reactions which serve TO
break the monotony of every long advance, in
ycstors and dealer. must judge for themselves /;
but there is sound reason for believing that
prices air not yet as high ms they viii bee when
u Republican President has been elected.
There have been three years of continuous de
PRECISION and decline since the assassination
first led H. the belief that the Democrats were
about to gliu power
The great cause Of more confident feeling
uport from political considerations. has been
the most favorable information ns lO thr crops
As usual, the gamblers in grain end IL ncccs-
s'ry. IN ordcr to get up market ON which they
can make money, to fight ag niust the nniulnl
COURSE of events That is thc chronic nalady
10 which they are subject they can make no
money los betting IN The same direction with
ryrrybody else. Hence the "vrll informed
gain men. Of conservative views are uow
quoted "a authority rol the belief that official
,sfiuut.a nio grossly erroneous. If these
people can rrrdp belief chat lhc yield Of
wheat The year VIII not rtrrrd lilOuu.uuO
bushels lhr, mHh holp thpit sportInlioua both
IN puin and ~ stocks Eat It viii ho just as
we'll 10 krop Ia mind thu fact that Che supply at
wheat noW Is be- mark ted Is not the quantity
raised iu lhol whatever that may be- bat al
least 75,OUOOOO bushels more, LETT over from
last year. II We have raised 5OO,Ouu,ouO
bushels and have on hand rom 1883 about
1000, OOO while the home demand for seed
manufactures and consumption will not exceed
$4,000, 900, it may well be doubted whether
the foreign demand will be such as to take
100000, 900 bushels oil our hands at high
prices.
Prospects as to cotton have been improved
during the past week by rains in Texas, and
The Financial Chronicle, recognized authority
on the subject, says there is nothing as yet
which precludes the possibility of very large
yicld.n The prospects as to corn and other
leading crops are also excellent, and there is
already such a pressure OF commercial bills
drawn against grain and cotton that exchange
rules low, and imports of gold are talked about
as probable.
The ScOyil disclosure has not affected conf
dcnce, because it was realized at once that the
circumstances of the case were entirely uneX-
ccptiOnal. The number of people who are ex-
posed to be robbed in that way is exceedingly
small. An important step was taken by the
Clearing House, in adopting the resolution that
no member OF the association shall pay interest
on deposits after January |, 1888. Though
small minority of the banks has been opposed
to this reform, it may be presumed that nearly
all will he prepared to sustain it heartily, and
the association has undoubted power to deny
the benefit of its facilities to any institution
which refuses to conduct its business in
manner which the associated banks deem nee
essary for their common safety. The truth Is
that 1t has become absolutely Indispensable, II
the associated banks are to support each other
in times of trial, that they should be governed
by some common policy in avoiding the risks
which therefore extend TO all alike.