New-York tribune., 1885-10-19
torious at last is a crown OF honor TO senator
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MONEY AND BUSINESS.

almost invariably found in q speculative IcVei,
rather than in any change in the condition oi
business or the value of properties. Last weeA
n great many good things were believed to DC
about to come IN the near future, but 1t cahho'
be said that anything actually came, to change
the real value of properties sold IN the in''t-
kets But the stock market auVahceu Is '0"''
for tbe average of 60 stocks, a rapidty OF galn
rarely ex led. The grain market adV'hcou
for wheat, rye and barley, and slightly ior "a %
with only a slight decline for corn the ii'i'iNo'
| for butter, cheese and eggs advanced OIL "ene
pward with wild rush; coal advanced ~
cents ton, and turpentine l cent per sa'ioh'
| and nails 10 cents per k'g g.
The cause of this movement is not 10 Dc
! found in the foreign market for grain. wDIch
declined during the week from rs. al. TO 's' ou.
| for red winter on the lGth. At that price, reu
winter wheat WAS worth about 93lI cents at
| Liverpool, against 99l2 at New York. TO say
nothing of coats freight which Is ASKED puI
/ which. it is hardy necessary to say, the eA-
porters at present arc not paying. fr'ceS
! climbed to 1OOl2 on Wednesday, when the
! stories were that various lords ana mlilioi-
aires had bought and were buying oil the "iieaV
| in the country, and that EInopc would haVeVo
| follow the United States. But when III was
! learned that shipments from India were sur
prisingly large, the price fell L cent. Inc
| official French report shows that the require
mepts for the crop year will be only 3I,o9o,ooo
! bushels, of which, III anticipation or change
of tariff, a large part was imported early. Inc
French farmers, British journal of September
2B complains, @are getting 3Ss. Cd. for 49o
nounds. against sos Cd obtained by British
! farmers according to the London price. Ihat
! is about 81 16li against 92Il cents per u3hci'
! Such is the effect of French protection, Whlch
| British farmers prefer to believe Is particularly
| bad for them. If the principal anxiety were
that this country should not sell gram we
/ might rejoice over the achievements OF lhe
! speculator, as the French farmers do over the
work of their legislators. Corn declined only
half cent. in spite OF the Official report show
ing that the yield was about 15OOOO,OOO
bushels larger than in any previous year.
The oil market had some cause for improve
incnt in a better export demand last week, but
not enough to account for the excitement or
the change in price to 81 10 and back to 81 o''
/ Some persons had sold great quantity of prop
erty that did not belong to them, evidently
and the consequences were natural ana well
! deserved. The advance in coal appears to be
due TO a real and remarkabe increase in the
demand, especially from the West, and 1t goes
! far to Justify the better feeling in the stocks OF
coal-carrying roads. The iron market gcncr-
! ally was not quite strong, bar being quoted
! q little lower, but an advance IN nails seems
likely to be followed by another. The combi-
nations IA lead and tin let 90 their hold little,
and the price reacted in each case - cents per
| 100 pounds. but copper was held in spite of
speculative decline in London. The cotton
market was the only one in which the specua-
tive engine was moving back ward, and the re-
port of the Agricultural Bureau appeared suf-
fcirnt cause for the decline of an eighth. But
il was also noticed that print cloths continued
to fan back toward the lowest point ever
touched, Notwithstanding the recent advance
aud the talk of combination.
Tho banks lost about $3.500,000 of their
cash and of their surplus, mainly because of
shipments through the Treasury to the West
and south. The Treasury Is putting on silver
coin taken out the same premium which was
formerly put on silver certificates 1t Is issuing
certificates here on which the com is delivered
1 at other sub treasures In distant cities. Tins
has enabled the Treasury to lessen It's stock OF
| silver dollars during the month by S463OOO.
and in addition probably about S1,200,0O0
more have been comcd and put into circulation.
This can be regarded only as temporary and,
since the coin will probably come back again.
| II i species of borrowing money, but it may
also serve to enable the Administration to
claim that it is doing all it can for the silver
! fanatics in the Democratic party. In gold the
Treasury gained last week 81, 100000, re-
covering the loss of the previous week. and in
legal tenders 1t gained about S477,0O0
In the railroad world the only important act
ual event was the beginning of the 2O-cent
rate from Chicago and the consequent decline
of 6670 tons in through shipments thence
although the new rate went into force only on
Thursday, the 18th. As the fall WAS great
with the 2O-cent rate enforced only three days
of the week, it is supposed the movement this
week will be still smaller, particularly as OPP
portunity has been given, during several weeks
while the advance was expected. to fill ware
houses and elevators at the East to their ut
most capacity. The water rae is now & cents
per busne from Chicago to New-YOrk, against
II cents by rail, but rs respects exports it
makes little difference, for even with only IL
cents between Chicago and Liverpool, besides
transfer charges, 80 cents at Chicago is too
high price to permit Il large movement. But
the upward movement in stocks continued la It
week with extraordinary vigor. The gain of
34 cents in Erie, y in Erie preferred, and
ia in Erie seconds, 3ls IN Reading aud ia in
jersey Central. was suspected to have iustica-
tion in some great deal not yet announced. In
like manner, the fact that Western Union did
not decline after the published report. but adj
vanced - for the week, was supposed to be
evidence of a secret trade between that COM
pany and the Baltimore and OHIO. No cor
responding explanation was discovered for the
rise of to cents in Wabash, or 81 in Cleve-