New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-11-17

was somewhat depressed, and pork declined to
&14 so for mess, lard closing at &c cents
Sugars are steady, and coffee shows an improved
demand, Rio fair closing at On
cents. Tobacco has been dull, and
naval stores. The oil market has been much
depressed by the opening Of remarkably pro-
ductive wells. but rallied from 90 cents on
Friday 10 20 cents NJ the close on Saturday.
IN the iron market there ID general hesitation.
nnd no marked change IN price Lead has
undergone panic, dropping from about 400
cents 10 'i,io cents aud Lake copper IL also
lower 1T ia cents The coal market Ia rather
more hrAk with prices firm.
lheAe facts Indicate state of hesitation In
nearly all directions, How far this may be- due
to some doubt as 10 the result of the Presiden-
tlal election cannot yet be determined, nor ara
there tendencies clearly visible to indicate
whether the influences Immediately operative
favor an Improvement. After great contest
IN which the thoughts and calculations OF all
traders have been to some extent influenced by
their political sympathies, it is natural that
those of either party should for few
days act rather in the light Of pre-
conceived opinions than upon deliberate
and freshly formed judgments of the situation.
Those who believed that the election of Gov
ernor Cleveland would bring prosperity, and
those who, though having a different opinion,
had ardently desired his election, and wished
to make it appear, at least for the time, not in
furious to business, would naturally have CO.
operated in seeking higher prices with those
who had looked for a Republican success and
had not been able or disposed to unload. Under
such circumstances the action of the markets
for few days mas been of small value as an in
dicaton of the deliberate judgment of CONNER
cial men in regard to the business future.
Perhaps another week must pass before clear
indications in either direction can be seen.
Mean lille the state of the money market
attracts attention with peculiar reason. While
money is earning 43s per cent in open market
at London and only 2 per cent at New-YOrk,
gold is coming this way, FL, 100000 being re-
ported taken for shipment last week. Moreover
this happens at time when the bank reserves
suddenly mount s., 357 200 in week, reaching
Sis, 313, 700, while the loans increase only
81 ,262, 800 and the deposits SS,272,6 600.
With a surplus reserve in the New York banks
oil S37, 474,525, a movement of gold from high
rates in London to low rates here is certainly
phenomenon inviting explanation. The course
of foreign trade does not warrant the belief
that money is coming here in natural settlement
of balances. The prospects in the different
markets hardly justify the impression that for
eign money is seeking active employment IL
speculation here, nor are there indications as
yet that industrial expansion in this country
offers encouragement to foreign investors. by
some it is suggested that desire to hoard gold
may be operating, and the Fact Is noted that the
Mint reports an increase of S142JO,OOO III the
amount Of gold in the country during the past
wear. while the amount in sight in banks and
the Treasury has decreased $3.50 600. This
would indeed Indicate boarding, or in
creased distribution among the people.
amounting to $4,000 900, and there is an
apparent tendency on the part of the banks to
increase their gold reserves. But it is not by
any means probable that this disposition, to
whatever extent it may exist. operates to cause
shipments of gold from Europe to this country.
when enormous supplies lie unemployed and
seeking investment at very low rates at the
monetary centres here.
There remains one disIinctly unfavorabe
feature. viz. the stoppagc of some manuiac-
turing Embellishments. This may perhaps bc
attributed rather TO determinations formed be-
fore the election, aud based upon m impress
Aion that any Democratic victory would bo
likely to produce n speedy change of policy
than 10 more intelligent survey of the slnn-
ton aimee II has become known that the Rcpub-
LEANS will control the next Senate ana that
the Democratic majority In tho House has been
greatly reduced. In short 1t Is yet too soon to
determine from n survey of events what the
condition of business il likely to be Tor the
next few months.