New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-27
NOTES ON INDUSTRY and TRADE.

Raw RrsrRyrs-Already the amount OF re-
sorves held nv the New York banks are close to
tho maximum ever held, and at this season OF tho
year an advance is commonly expected. EAainl-
nation of the records, however, shows that wlthih
the past seven years decline has occurred ABOUT
the first Of May quite as often as an advance Last
cor ,bo circumstances wero exceptionalj the loss
80 81 q 600 600 in four weeks due to the panic
in stocks and the consequent failures In 1850 tle
reserves increased after this date quite rapidly ano
regularly in all $1S,000,00O before the decline
bepan July 10. But in 1882 decline Oh @IoOo,-
600 in three weeks occurred after May D, IN 1917
n decline of $l3,000000 in three weeks ana IN
Is7s decline of about S4,OOO.OO0, though 1t
hogan about tho middle Of April. On the other
hand the banks gained in 1881 about $l3,0O0,0OO
in three weeks after about this date, and in 1880
about 81 900 900 in the same time. and $4,000
ooo before July 49, 1t is to be noticed that q
decine about this season has occurred in some years
NJ GREAT depression, as well as in some years OF
great prosperity From present Indications the
state of the bank reserves appears to depend
mucb mon the export trade; If we send products
abroad largely, we may keep our gold; otherwise,
we may keep the products and send gold abroad
this sprinc. Hence the long-headed bears in the
stock market are dong what they can to lift the
nrice of wheat aud to make it too dear to export.
C,op pRospEcrs-Recent kilograms all show
considerable Improvement since the warm weather
came in the condition of winter wheat. but all
Indicate that the injury during the winter proves to
have been serious. In some quarters on account OF
the recent advance in prices general disposition
TO put in wheat again is noticed, while IN other
localities the farmers arc said to generally prefer
o,her crons The receipts at Western primary
markets during the week ending April IS, when the
nrIce suddenly advanced were only about l,oSOOOO
bushels flour included, considerable decline from
the preylous week, which perhaps accounts in part
for the advance But if there were not bushel in
the visible supply" instead of IL ,4OOOOO bushels,
the ouantity held in the Atlantic States and In
California would probably be larger than the
ouantity usually TO be found In the country at TINS
season The Produce Exchange Bulletin notices, also,
that British India and Australia will have 10000
600 TO 10000 900 bushels for export, while the
vary large imports of France and Germany In
,r+jci,otlon of an advance in duties leads to the
helief that the demand from Continental Europe
for tbe rest of the crop year will be unusually
small. II is stated in cable dispatches that Russians
-o making great efforts to sell large surplus in
r,ropean markets before breaks out though
most of the wheat they offer is OF inferior quality
this year.
A BoNANZA FOR SOMEDoDY.-About ten days ago
there were very glowing accounts IN san Francisco
papers of the great body of rich ore found in the
2 900 level in the Hale and Norcross mine. The
officers of tho company were said to be actually
iubilantn- when reporters called. One of them
exhibiting the rich ore, exclaimed, "What do you
think of that, my sonf We've got lots of it, and
the bears can all go to"-quarters warmer than
| the a 600 level The stock on the 10th danced III
TO 81 80 and even $12; plainly there was rea
bonanza this time, sure! But it seems necessary to
add by way of showing the precise location OF the
richest ore, that the price had fallen by the 2ls
to 1925 Byron said of some old families that they
resembled the potato the best part of them wa,
nnderpround.n But with many Western mines, il
| is just the other way.