New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-08-11

" ~ attn ltuU 80 N mas hA"h inl - lh.l4 llllN
that thumo7luu,tNumhlr aVmptnua Ia the bust
ness world are found la the iron nnd cpil trades,
White there has uot brrn mach decline IN
prircA of latc the markets are Wr.lk, the pres
sure Of large supple, does not seem to he less
cnrd 10y such curtailment of produc ion a. has
takcnpdcr and buyers deal sparinglE hoping
FOR still lower prices hereafter. With No.
foundry selling At ST. 30 here and at Philadel-
pha, and steel rails selling at T2S the stocks
reported are largc-ncarly As large rs they were
a year ago. Mc-,rs. G.. II. Hull " Co., OF
Louisville, in circular to furnace owners, Sug-
ecst that the production OF pig iron be
stopped entirely for several weeks, saying:
"Thc present depression in prices is undOubt
"cd!y she effect Of the large stock on hand
and if we are to judge from the past, the re-
action will notcOmc until consumers find it
difficult to get the iron they need. AZ the
"present rate Of decrease in stock, this will
"not occur for three or four years, and will
" only be brought about BY the forced stop
"pagc of furnaces Responses f. this sug-
ccstion are to be- sent to Mr.. Joseph ID. Weeks,
secretary of the Western Iron Association, bat
the ,toppasc Will not take place unless two
thirds in production of the furnaces now in
blast agree.
At the same time, there is in progress a ne
gotiatou for the suspension Of coal mining.
But ,hc Delaware, Lackawanna and Western
declares that il viii not sioD ut present, and
tho market has been weak, stove coal selling
below = and rge for 50 80. h is reported at
philadelphia that Western orders are large, but
there is some expectation of q suspension in
Sspiamb,r. IN. claim made By thc advocates
of this policy !, that 10000 tons per day can
De put ont from the mine, now operated Not
with.landiug thc suspension of mining for
considerable part of tnc tim this year. the re-
ported movement mp to August was
lj.t79. los tons, lcss than per cent below the
deliveries 10 the same date Inst year, and nearly
ms much as the production to date in any prey
ious year. Meanwhile, the production and safe
Of biluuHnous coal seem ID be Increasing.
I'm thc.o branches of business, as in many
others. much depends upon the m'Ac,ng OF
the large crops of grain rails i this year. II the
farmers ct good returns tor their labor, they
viii buy freely lie they buy largely the dc
maud for all SORTS of manufactured Goods will
increase and then Che consumption ol coal and
OF iron will again expand. The latest returns
II ..aiu the most favorable ant,cipltiouS aS to
the Weld of wheat and curI AMI the tendency
of prices has been I'm favor of buyers. I'm cot
tom. prices ,iellrda shade because Of showers
i'm rcNas. and perhaps the dotcumi aa'ion of the
Fan River mills 30 suspend production may
have had some influence. The dry-goods trade
has improved little; though the oycr-supply
still causes depression IN staple EDITIONS. ,hcrc Is
growing confidence that the demand for con
al Ia IA L. Ipul-
ing5 IN woollcn goods were moro satisfactory.
A noteworthy feature was the depression in
quininc, caused by tho failures of the Boh-
ringers, and of Milan, G. j. Meier of London. II
il stated that. while foreign quinn" ~ offered
here at 81 per ounce, the American brand is 80
much preferred that it sells at 81 %, though
the removal of the protective duty subjects
makcr5 in this country to serious losses.
The stock market has experienced u reaction,
which was anticipated a week ago, and the
close was weak, notwithstanding favorable
bank statement aud a further increase in the
reserves. II was natural that there should be
considerable realizing, after the recent adj
vance, and it does not seem unrcasonablcto cX-
pcct a period of dulncsS. which may last until
the fall business commences in earnest. But II
would probably be- wise to remember that the
Iatcrisc, though it was large and rapid, was not
10 the tremendous decline which
had preceded. Against the building of too
many railroad, and the creation of too many
securities since 1851, it is fair to put the cnor-
nous growth in the business of the country
which will soon suffice to employ 10000 miles
of railroad as fully a. 100, 900 miles Of road were
employed three years ago. That part OF the
depression which was due to apprehension of
Democratic success, it may be safely rcckOncd,
will have passed away completely by the mid
die of October. Ii the general business of the
country is then active and prosperous, higher
price, Tor securities are likely 10 prevail.
ans nv J'NEyJSU