New-York tribune., 1886-11-15
MONEY and BUSINESS,

Among the influences tending to moro active
business and greater confidence, the end of the
pork packers strike at Chicago must be reck-
oued the first, and colder weather the next,
while the Improvement in the New York money
market, with the announcement that the
Treasury will prepay interest on other than
called bon ds, also had some influence. Low
prices continue to encourage free exports OF the
procipal products and the value Of exports for
the latest week reported was about 10 Der cent
above that of the corresponding week OF Last
year. Imports are increasing, however, in
much greater ratio just Eow for two weeks OF
Nov ember the value at New-York has been
S17, ,S99, ,O78, against 81 A. O99, 1922, an increase
of 27 DER cent. Last month the country sent
out ], 1,OOO, 900 pounds more cotton than In
October, 1875, but received for cotton
81, ,969, 900 less money, loss or 6i2 per cent.
Il exported 100000 gallons moro petroleum.,
but received 5000, 900 less money, loss OF IL
Der cent. In view Of the enormous supply 0f
cheap oil from Russia, " hich Is being sent to
most consumers In Europe at very low prices,
it is satisfactory that the quantity OF American
exports of tSis product for ton months has
diminished only tenth of 1 per cent, and tho
value only about per cent.
In like manner Indian and other competition
prevents an advance in the price Of wheat, and
strone operators have wisely reasoned that it
was better for this country to work of its
great surplus. even at comparatively low
figures, than to have it hanging over the mar
ket like nightmare for another year. Expert
ence with different policy for the past few
years seems to have been Of some value. Prices
varied but little last weeS, wheat closing at
l-IE x,ttk fo 30
higher, and the export movement continued
active. The movement Of pork products was
complicated with uncertainty as to the dura-
ton Of the Chicago strike, but the termination
of the strike will leave the market free to be
influenced by the supply of corn. which the
report Of the Agricultural Bureau shows Will
be ample With a report of the National Cotton
Exchange estimating the crop at 6,4l4,OOO
bales, the price advanced a sixteenth, although
receipts were al, 200 bales over those OF the
corresponding week last year, and the aggre-
gate receipts are now only 5000 bales behind
for the season. The exports last week were
IA 900 bales, substantially as large as year
ago. while stocks ut ports and interior towns are
$4,000 bales larger.
The coal companies did not conclude to ad-
vance the price as yet, but it is little stronger
than last week, chestnut being quoted at S3 4o,
and colder weather is expected to justify an
Improvement. The iron market is clearly
stronger at $19 so for No. foundry, and the
PENNSYLVANIA rolling mills are running full,
day and night, with demand enough to Keep
prices at 81 80 to So for refined. The monthly
statement of furnaces in blast is again encour-
aging for, though the report of weekly capacity,
100. 676 tons. is less than the account now given
of furnaces in blast October l, it is larger than
the statement published a month ago, ana In
any case shows q continuing productoh
never surpassed in this country, without any
tend.ucy to oy or accumulation of stocks or
decline In prices The magnitude OF this busi-
ness, showing large Increase not only in rail-
road building but in other branches of manu-
facture generally, is one of the most encourag-
ing signs of the time. Last week $2, 4lI,o9Z
in gold arrived from Friday to Friday, and the
banks gained in average only $935,2OO, but
the Treasury gained during the week
So 600, 900 in gold and issued $2,SOO,OOo ad-
dtional gold certificates. 1t also put out
81 400, 900 more silver certificates against an
increase of 100000 silver, and gained
5000 900 in legal-tenders. The money market
was more easy aud increased confidence as 10
the future was caused by the announcement
that interest would be prepaid by the
Treasury; if there is need, any part OF
Sl2 900 900 10 be dsbursed in December and
January can thus be obtained in advance. But
the payments to the Treasury are large, It's
receipts for the first ten days in November
having exceeded expenditures by $5,OOO.OOO,
or at the rate of $15OOO,O0O for the month.
Part of the receipts were on account or
SI,479,95O bonds withdrawn in excess OF de-
posts for circulation, and the customs receipts
were large. At New-York over 70 per cent is
still paid in gold certificates, and the proper
ton of silver certificates, now about II per
cent, shows but light increase.
With less chance of disturbance in the
money market increasing strength in stocks
was natural, but the advance last week was
irregular. Some stocks we're sold heavily, in
cluding those most largely bought some time
ago, and it was thought that foreigners were
unloading, but others were vigorously ad-
yanced, especially some of the new favOrites.
The market as whole is in a hesitating attl-
tude, but those who look for further ad-
vance, as a result of easier money and more
active business, had the best of it for the week,
and scored slight gam in the general average
of prices, which was 500 ~ at the close. The
marked increase in activity OF the less substan-
tial securities, however. is not sign which
usually prcsages a long ng-cOntnued advance.
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