New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-11

tiecates and S1,113O39 more legal-tcn-
Jers previously held in the Treasury, while
diminishing the outstanding silver notes
SIS. 76O. Tbusit added no less than SO, 10s,099
in n single week to the volume of paper
currency in actual circulation. Meanwhile II
added only $330,Gf5 to its stock OF
gold, and $1,111,597 TO its stock OF
standard and fractional silver. Practically,
it issued SO, 100, 900 more promises, against an
increase of $3.50, 900 in it's means of payment.
As less than $780, 600 was added to the
bank reserves, according to the state
ment of averages, the next weekly state
ment will probably show another increase OF
reserves. even if imitation by the Treasury goes
no further.
The advance of the Bank of England rate
from to 3l2 per cent is not result OF the
small shipments to Australia, nor wasit mainly
caused by the conviction that unwise borrow
ing by Australia had cut off supplies OF gold
from that quarter for some time to come
A more immediate influence was the ex-
pectation that Government would have
TO take large sums from bank for Egyp-
tian expenses. Want of confidence in British
industrial prospects, and in the future of British
and the British financial journals already notice
the accumulation of gold in New York as a re-
serveupon which Englandmaysoon have to draw.
Possibly they do not sufficiently consider the
effect which any considerable exports OF gold
from this country would have upon the market
here. Both France and Germany, however, are
gaining in specie as well rs New York, and the
bullion in The Bank of England Is still G2l,-
$4,000. 1t is to be added that continued
strength in the market for securities here is GER
tain to encourage ACCOMPLISHMENTS, and so to
resist the tendency toward outflow of gold.
Continued strength was shown last week, at
all events, and stocks closed at higher aver
age of prices than has been seen at any other
time for months. The same forty securities
which. at the closing prices of Saturday, cost an
average of $71 OF, cost $40 AZ at the closing
Friday, and 500 % on Thursday, having slowly
declined to that extent only from the average
Of $40 % at the close of the previous
week. The advance in the Vanderbilt stocks
and in those Of the old Iowa pool has been JUS
tilted by the favorable results of negotiations
and meetings as to freight rates. The coal
stocks were influenced by improved pros
pects in the iron and coal trades and by
highly favorable returns of earnings. On
Saturday it was officially announced that the
Delaware and Hudson earned 9.97 per cent
in 1888 above all expenses and charges, against
$40 per centin 1882, and ii was stated that the
LackaWanna returns would show still larger
percentage of profit. The belief that
Mr.. Vanderbilt had become largely
interested both in coke property about Pitts
burg and in anthracite coal stocks was more
general, and the formation Of the coke cOmbina-
ton appears to have been hindered by
that belief The Chronicles statement Of rail-
road earnings for January shows net
decrease of only $50, $40, and exclusive of the
Grand Trunk of Canada, which lost $254,Os6,
there was handsome increase, nOtwithstand-
ingthe very trying weather this year.
Labor controversies are adjusting themselves,
not always wisely, but with IA general tendency
toward greater stabilityin industry. Several OF
the Fall River mills go to work with new
hands. while two are said to have come to
agreement with their old hands, but a strike OF
spnners is threatened. The condition OF the
manufacture is such that suspension for time
might be best for all parties. Sheetings declined
from 73i to III last month, while raw cotton
advanced from 10. 1884 to 10.37l2 cents. The
tallings by Northern spinners appear to have
been only 142, 134 bales last month, against
197, O74 during January, 1888, and by South
ern spnners $1,000 against 10000 last year.
Most of the markets were irregular last week.
Provisions and grain were well sustained for
some days, but were depressed later in the
week, partly because the speculative buying
had been followed as usual, by a
desire to realize, and partly because it is
perceived that the export trade does not i'm
prove. Since the beginning of February there
has been a more hopeful feeling in dry goods,
with slight advance In some staple cot
tons. The movement of heavy wOollen
fabrics is still slow, and the possibility OF
another change of tariff is noticed, even by bus
mess men who are Jealous Democrats rs having
most injurious effect upon trade in domestic
as well as foreign dry goods. The people
would be happier if the men who get a living
by pretending to do the will of the people would
Just let the industries of the people alone for
one season.
TIE AMERICAN IS A PORK-E4TER.
One of the Young lionsr of The London DAILY