New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-11-09
MONEY AND BUSINESS.

! Hence the fact tnat inc exchanges 7""" "
markedly large increase in comparison with last
wear is of little importance. The same reason
APPLIES 10 the returns for the previous week.
ending October 81. Trade OF all KINDS was
about rs neatly supcndcd at this season last
wear "a it ever is. and the exchanges were
37Io per cent smaller than those of 1888 Tor
the week before the election, and u per cent
smaller for the election week. Part OF the
increase which now appears - obviously que
to the absence of an unprecedented cause OF
temporary disturbance. But some real
enlargement of trade still remains, aud outside
of SPECULATIVE centres. Deductlng the cN-
changes at New-YorS Boston, Chicago ana
Philadelphia, where the markets last week
were riotously active, the exchanges elsewhere
show an increase since last year of about per
cent each week. 1t may be added that
railroad earnings reported for the last week Of
October also show an increase of about > per
cent. But the shipments from Chicago were
small last week, as was anticipated in view ot
the great movement before rates were raised
Only -. $50 tons were shipped, against 1850
in the same week last year. The Pennsylvania
roads secured a larger share of the Increased
aggregate. while the Vanderbilt roads with
II 4 per cent Of the whole against BIB last year.
moved only i, 100 tons, against - 100 tons
last year. The Pennsylvania and Grand
Trunk carried relatively more, but In tons
much less than a year ago. Cntll navigation
has closed the beneficial results of the advance
of rates can hardly be attained. however well
the new agreement may work
The nature of the agreement, rs published
during the past week. cycltcs considerable
surprise. The trunk lines undertake 10 be
responsible for maintenance of rates by their
Western connections, which implies either
mower they have not yet been supposed to
possess, or a greater anxiety to have the
arrangement look we'll than to have it work
we'll If the Eastern companies can in fact
control the Western when it happens, Is it
ouickly may to some, that all the adj
vautagcs of the arrangement 20 to
Eastern lines and the heaviest OF the bur
den. to the Western. they VIII cXi lblt
really wonderful power. The comment of
railway experts suggests some doubt whether
the new arrangement, which il IS noticed Is
not a pool, but merely an agreement to JON IN
raising or lowering rates, will be found more
elective than similar agreements have been
in the past. Rates can DO eyadcd still by
indirect methods, and it still depends, rs it
has done from the first, upon the disposition of
the several road managers whether there SNAIL
be no effort to divert freight from each other
when there is not enough for all. But stocks
recovered sharply. especially on Saturday,
from n moderate depression on Wednesday,
and closed higher by 81 cents per 500 than
on Saturday the 3lst. The reduced dividends
OF the Pennsylvania helped the reaction early
in the week, and the completion of the new
agreement, with the finishing of the San
Francisco and Canada Pacific lines, con-
tributcd to the subsequent recovery
Labor is disturbed by another struggle in the
Hooking Valley, which seems to nave no other
reason for being than the will OF Mcbride, the
originator of the last disastrous strike. lie is
Thought to be acting secretly in the interest of
Indiana coal operators In the MOnongahea
Valley, the long strike has not yet quite ended,
though part of the men have returned to work.
The nail-makers hope to come to some
agreement this week with the manufacturers,
50 that the prolonged stOppaEc OF the works
NAV end. Miners about Ddnylllo, ILL.,, are still
on strike, the struggle having lasted SIX
months A more important strike Is
threatened by the action OF employees in the
Fall River mills, who publish a statement that
the margin for profits in print cloths is larger
than it was before their wages were reduced.
The business of the City of Galveston, and of
railroads and steamships in that region, has
been almost wholly arrested by the struggle
between the Mallory Line and the knights OF
Labor. Nevertheless labor on the whole Is
probably better employed than 1t was II lew
months ago and at better wages.
The iron business continues to show some
improvement, and other furnaces are about
going to work The coke combination has
fired per cent more of the ovens, making 60
per cent at work, and the output last week was
1900 cars, against 100 fortnight ago but
outside producers lost just as much as the
combination gained. Steel rails are selling mt
S32 in small orders but $50 is still quoted for
large quantities. The grain market took II
new freak last week while wheat declined
little corn advanced 3 cents and oats | cent.
The visible supply of wheat, with the quantity
at Minneapolis, amounts TO 52,G0O,OO0
bushels, and the known quantity in California
is 23,5OO, 900, making 100000 bushels in
sight, besides all the flour i'll the country and
the grain in farmers hands. The supplies OF
corn ultimately available are relatively still
larger but for the present not large. Cotton
declined n little last week, and oil closed
cents lower, while small decline appeared
in copper, coffee and sugar. The changes In
tho bank reserves and loans appear to reflect a
settlement with che Treasury rather than any
other important movement though the !