New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1885-06-08
MONEY and BUSINESS.

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events. Dull in the extreme as to things
actually done, it has been made interesting
only by extraordinary reports of damage to the
wheat. by rumOrs about railroad negotiations,
by conflicting stories regarding the great
stlike of iron workers at the West, and by
accounts of Democratic devices to settle or
postp ne the silver question. The speculative
transactions included sales Of only 797, 426
shares of stock, against S76 600 for five days OF
the previous week, and about 100000 last
year: while a few stocks were sustained
or advanced the stagndtion resulted In de-
cline of about IS in the general average OF
prices to $II 20 per share. Wheat specula-
ton was active, sales reaching 23,7l2,OO
imaginary bushels, against 13,25l,OOO last
year, and the largest transactions were on
Thursday, when the price was hosted with
vigor to the dOleful music OF short crops. The
price closed at zoos for June, against 9S's for
the previous week, after a decline early in the
week To 81. The advance of 3 III corn and 1l2
in oats had no other pretcxt than the advance in
wheat sales were \, lGS, 900 bushels of phantom
corn and 9Sl.00 OF so-called oats. Cotton
was dull, though considerable transactions in
actual and tangible cotton occurred on Friday
at the decline, which for the week was three
sixteenths. There was the usual pOintless
trading in oil paper, with nominal sales of
%. COS, 900 barrels, ending in decline of half
a cent
The we'll circulated reports, if fully credited,
would indicate that there Is to be no wheat
raised this year. to speak OF. Happily for the
poor mortas ut the East who are in such dam
ger of starvation, the kind Western farmers
continue to empty their old wheat into West
crn markets ut the rate of 1923. 76S bushels
for the last two weeks of May, against
1.2S6. 40 for the same weeks last year, when
the prospects were unsurpassed. 1t is also mar
vcllous that the generous Western dealers in
stead of holding their sOOn-tO-b e-priceless
grain, continue 10 ship it Eastward mt the rate
of 6.9l2.4S2 bushels in four weeks of May,
against shipments of 4,771,294 bushels in the
corresponding weeks last year. Meanwhile, the
exports to Europe during four weeks of May
were 1,975,75S bushels, against 2,951,9S5
for the preceding four weeks, and 3,472,-
$50 for the corresponding four weeks
last year. There is great deal of
kind-hcarted benevolence in business, evil
DENLY; Europe is careful not to buy largely,
lest we may starve and the West is generous
these prices, lest we should be forced to pay a
great deal more "A little later.
The reports that q break of some sort is to
take place to-day in the strife between iron
workers and manufacturers at the West are the
more readily credited because the prices in
Eastern markets do not indicate any eXpecta-
tion that production will be much curtailed.
The accounts are 80 conflicting that il Is difficult
70 guess what the result of the contest
may be, but they seem to indicate that the
heavy loss which each day of strife involves
will not be long continued. In other branches
of industry the number of minor contests is
unusually large, the continued duness in
trade having prompted many efforts to reduce
wages, of which part have succeeded
The Treasury lost about 100000 in gold
last week, and gained about $1,000,000 in
silver, as respects amounts owned The gold
held by the Treasury increased 100000 and
the silver 100000, but the amount of
gold certificates outstanding increased
81 400, 900, while the amount of silver certif-
Gates decreased 100000. For some reason
which Washington dispatches have not yet ex-
planned, the amount Of fractional silver held by
the Treasury decreased $4,000, which looks
as if an effort had been made to get some banks
to take uncurrent minor coins instead of cash.
The receipts of silver certificates at New York
were large again, exceeding AZ per cent OF the
total receipts, which shows that the Treasury
must have been putting out more of these GER
tilcates at some recent time. The plans OF
the Treasury officials and of some Democratic
Congressmen, regarding legislation to suspend
silver coinage and to substitute an unlimited
issue of bullion notes. have been received with
considerable favor In the Street, even by men
who would have looked upon the second part