New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-04-13
MONEY IND BUSINESS.


necessarily benefit tins country so much as has
already been anticipated in speculative changes
OF price the disposition prevailing is to make
the most of the real help that 1t Is felt the war
would give and. if possible, to start all the mar
kets and all business on new tack whlle the
excitement lasts. In this, active business men
are not quite 50 blind to the difficulties as they
NAV seem to be. They reason, first, that no.
body can tell how far mere change OF feeling,
from hopeessne5s to hopefnlness, in country
so prone TO speculation as this, may overcome
all obstacles and bring about genuine revival
of activity. In many respects they consider
the conditions have been favorable to revival
of trade for some time past. and only confidence
has been lacking. Ii the war Will bring us CON
fdence even though in part ill-foundcd, the
naturally favOring conditions and the immense
vitality and rccupcratlve power OF the country
will quickly give the movement such mOlnen-
tum as to prevent reaction.
In support of this opinion it may be urged
that the prices of most products are unusually
low. and yet production continues to such an
extent ~ to prove that the cost of production
has been greatly reduced. so that a moderate
advance IN prices woull bring prosperity to in
=.
is felt. u now remote. Nor is the continued
coinage of silver greatly feared, Tor the pre- SENT
since the debt statement of the new Secretary
of the Treasury disclosed determination to
stop the disbursement OF gold for bonds. with
a surplus reserve IN the New York banks near
" n large rs their entire reserve ut this date III
1879. and with a total reserve exceeding by
nearly $50, 100000 the amount held mt this
d ite in any year prior to 1851, aud exceeding
by $4,000. 900 the amount held ut TINS date
last wear, il is reasoned that the accumulation
of idle capital sufccs TO sustain an enormously
increased production and commercial activity,
if confidence could only be- impaired to buyers
long enough TO start the wheels OF trade. Even
the prospect Of a short wheat crop helps, for 1t
gives promise that our enormous surplus now
carried bv bankers dealers and farmers, may
be worked of at fair prices.
The medal has another side-which nobody
cares To see ut present. II season OF cOnll-
dcncc and activity can be brought about, al
most everybody will be glad particularly
those who have been carrying large stocks OF
unsold products, AMI those who have been
loaded with large amounts of unstable securl-
ties The danger is. first that speculation may
so largely and suddenly advance prices as to
DEPRIVE the country of most oil the real Dement,
which an increased foreign demand might
bring second. that the consciousness that the
movement il partly unreal and that 1t is being
uscd by speculatOrs to unload on others, may
min confidence in the bud and thiId, that the
prospect of poor crops and the curtalment OF
PRODUCTION in many branches may prevent for
the present that increase of purchases for con-
;,h - pI m order tn "A
revival in legitimate trade As respects securi-
ties, especially, the people have been and still
are making scanty profits, ana VIII hardly DE
ready to invest much until they have realized
profits and repaired past losses. hasty adj
vance in prices would therefore be very apt to
bring a most dscouraging reaction, but with
all the markets in control of spectators, most
of whom want to unload, an over -hasty adj
vance is not improbable.
Last week, Mt all events, the upward rush of
prices was indicative Of strong desire to make
hay while the sun shone. No. red winter
wheat closed ut ~ in elevator against 9Ol2
cents on the 4th; April wheat at %, against
9Ols; corn mt 53li, against 49i2; oats at 1913
against 37ls and lard at 7.25 against 40.
But the movement in provisions was moder-
ated by the published statements showing that
the number of hogs pac led during the winter
had exceeded by l,05S, JIG the record OF the
preyious year. besides an increase of 8 per cent
in average weight. The upward movement III
wheat was greatly helped by the Official report
of the Bureau for April indicating probable
WELD of only about 400, 100000 bushels this
wear. and the tendency to forget the large sur
Mus on hand was rs strong as ever. The move
ment in stocks, though well calculated to Gre
ate an impression, because a few stocks were
made very active and strong, had so little
breadth or public participation that the aver
are price of sixty stocks at the close on Satur-
dov was only 80 cents per share higher than on
the Saturday preceding II per share.
oooinst SIG -. The strength in a few stocks
seemed to be gladly used as a cover for consid
cradle selling of the list generally. and even the
stocks which did advance gained but little,
Northwest leading with a gain of 27s for the
week. If there is any public participating in
the market or any general buying by investors
here or abroad the tact is well concealed.
Neither the iron and steel nor the dry goods
market showed any favorable change last week,
but the settlement of some important strikes
was encouraging the market for iron appeared
70 be hardening; and the curtailment of pro-
dnction by cotton manufacturers gave hope of
improyement. Naturally there is much appre-
hension of another prolonged struggle on
account of the action OF the iron and steel
workers of the Pittsburg district, but the de-
mand for some qualities of iron seemed to be
rather larger, without change in prices.
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THE BANDITS PARADISE.
snndry Missouri journals seem be much grieved