New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-13
MOAEY AND BUSINESS.

Improvement in business prospects still keeps
pace with the decline in the price of many
staples. Silver rose sharply last week, at one
time touching 45d. per ounce, on account OF
the appointment of the Royal Commission of in
JURY. On this side the arrival Of gold, OF which
the shipment had been previously reported,
placed the banks in a stronger position, and inc
effect was felt with marvellous rapidlty III
Treasury receipts For the season, the volume
OF business continues remarkably large, and
the market for securities was especially aided
~ reported gains in earnings, and by cncourag-
ing progress toward settlement of difficulties
at the West.
That wheat and silver march together by
accident If at all, might have been inferred
last week when the surprising recovery In the
price of silver bullion entirely failed to affect
the price of wheat in Liverpool or here. A
decline Of half a cent for the week was not
more than might naturally result from the pub
LEGATION of the September report OF the Agr-
cultural Bureau, showing that the yield was
turning out better than had been promised by
The pre-, ious report, so that the aggregate, in
stead of the 4OOOO0,OO0 bushels generally
forcshadowcd in speculative accounts, would
probably be from 437 100000 to 447,OOO,OOO
bushels As the surplus in either case VIII
much exceed probable demands this year from
Europe though those demands seem likely to
DC increased, The effect was to weaken prices.
The Bureau also indicated that the yield Of
corn would probably be 6OO,OOO,OOO bushels.
which, though 20 per cent less than was at one
time expected, will probably suffice to meet
ali needs. The price declined for the week a
full cent, and oats also fell half cent. Cheap
er corn opens the way for cheaper meats, and
pork products were little lower, the collapse
of a Chicago speculation in lard assisting. Re
turns of Strengthening show that 4,315,OOO hogs
have been killed since March |, against $780,
900 in the same time last year.
Coffee has been further advanced by spec
dlatlon to 1880 cents for Rio, and copper, TIN
and turpentinc all advanced slightly, though
lead and sugar declined a little, and coal and
iron products were steady without change. Oll
lifted thice-quartcrs of cent, but accounts OF
the serious effect of prevailing low prices on
tho finances of Russian producers apparently
! - more influence than any news from Penn
=, ,ania. Ocean fIcights are stlffcnlng little
for grain, with I'D. asked for corn to Lly-
crpoo The cotton market was rather active,
hut futures rose suddenly on Monday, with I'M
proved reports from Manchester, and altcrwald
settled back a sixteenth below the closing quo
tations of the previous week, while spot cotton
retained the advance of sixteenth. The dry
goods market was unusually active, purchases
Of staple cotton, ginghams and prints having
been large at well maintained prices, and it is
felt that the change III rail rates has given
I.,1.. DYlcQ
Of woolen goods are also well sustained, the
demand steadily charging, while raw wool
is strong here and at the London sale on Satu--
day the competition was sharp.
The financial outlook improves, first, because
the hanks gain slowly IN reserve al time when
they generally lose and, second, because OF the
remarkable change in feeling with regard to
the use of gold OF which Custom House receipts
give proof. Since September l, DOL per cent
of the total receipts at New York has been IN
gold certificates, against 1876 per cent in the
north of August, while payments in legal ten
dcrs have dropped from 73.5 per cent to 33.S
Der cent. Last week the Treasury pad oul
100000 more gold than it took IN, according
10 Washington dispatches, and 100000 more
silver, while gaining only 100000 IN legal
tenders. The disbursements for redemption OF
other than bank bonds were not large, but the
banks withdrew 100000 Of the three per
cents, and deposited $4,000 of the foms
and S74s. 900 Of the four and a half per cents.
All these things Indicate that the prospects for
the Treasury are decidedly better, as for gen.
cra trade, provided disturbance through foreign
Influences can be avoided.
Last weeks operations at all events did not
indicate any disposition to realize by foreign
holders of American securities, but supplied
them with some reasons for continued conf
donce. Reported earnings have deceptive
look. when contrastcd with the exceptionally
bad returns of last wear, but they are ncycrthc-
less decidedly good, the gains being shared
hy nearly all roads, of whatever size or sort.
stocks were generally supported, and advanced
SIS cents per share on the average last week,
closing at sci 40, the highest level of prices
vet reached this year. While the negotiations
Of Western railroads have not reached final
settlement, there is believed to be substantial
progress made though 1t must be confessed that
no adequate provision yet appears Tor ADJUST
ing the difficulties arising from the building
Of many rival lines. But with large grain
movement and other traffic, the companies have
mst now the less temptation to indulge IN
throat-cutting.
THE OPENING OF the PUBLIC SCHOOLS