New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-01
MONEY AND BUSINESS.

MONEY AND BUSINESS.
Interest in the elections is given as a reason
for the siackening of trade here, and no doubt
with some justice. The political camp igns
this year are uncxcting in many of he States
and il, many parts Of this State, but tie interest
in nearly all the larger towns is Sufficient to
account for considerable shrinkage in new
transactions. and even in many country dis
/ trlcts the Congressional campaigns lessen
/ the volume of purchases. Still there are some
signs of slackenng III the demand for good,
| irrespective of the temporary excitement,
winch may be attributed IN part to the SENSE
Of uncertainty which Congressional election
usually Produces Or in part to the dlSapp0inl =
ment of producers at getting no better prizes,
or in part to a turn in the tide toward the moie
ina ctive condition which usually prevails IN
winter.
1t is just as we'll to recognize the fact that
the next few weeks may disclose indications of
some importance regarding the commercial
feature. The character of the neIi Congress
can hardly fail to have some influence upon
the industrial calculations. European uncer-
tainty may take a definite tuin toward WIZ or
peace Apart from these obvious cOntin gem
cies, business men may presently sec reason to
believe that the recent activity has not bee II
so much an evidence of real and lasting growth,
as an effect of the enforced economy of pre-
vious Yeas. If fifty millions of people, because
crops were bad last year and prices low, or
because many were out of employment and
many establishments were closed, deferred
purchases Of clothing, tools and necessary re-
pairs only i'll part, the supply OF their accumu-
ating wants, after the good crops OF this fall,
should make trade appear wonderfully active
for a time. More or less of sucn forced
economy there has been for several years, and
some part of the activity this year has doubtless
been due to that cause. How large par
events may presently enable business men TO
Judge, but it would not be very strange if, with
the low prices at present prevailing, farmers
should feel disposed to buy no more than
enough to meet their more urgent needs.
Commercial figures are now compared with
those of time when the temporary rush of
activity last year was at its height. The fac
that railroad earnings show gain of only do
per cent for the third week of October, and the
exchanges a gain of l per cent for that week
aud 7 for the last week of October is there
fore not necessarily of much significance.
Gram receipts last week were larger by over
900, 900 bushels than those of the previous
week, and the exports OF grain were nearly
100000 bushels against about 100000
last year, and foreign imports last week were
also very heavy for four weeks the aggregate
has been equal to that of last year, while ex
ports have been larger by 40 per cent. The
reports of the Pennsylvania and Reading CON-
panies remind investors that great increase
IN traffic, anu even in gross earnings, may in
volve ii greater increase in expenses. Stocks
more than recovered from tho depression of
half a dollar per share Doted week ago. and
closed on Sa 'urday at the highest ay eiage for |
the year, sos 70, which is l7.2 per cent higher
IL an the average year ago. But promises
and predictions of further advance are both |
Wheat declined last week Ia cents to 1884,
and corn and oats both yielded fractlo0, as
did pork and dressed hogs. Cotton fell to 9
cents but recovered to GA ; oil gained "a of
c mt. coffee IS. copper 20 cents pei 100 pounds
AMI lead cents, and butter, cheese and eggs
all gained. But tin lost 80 cents per 100
pounds crushed sugar sold a shade lower, and
ion products aud coal were steady in price,
although $40 for pig il now expected for next
ye.r The recovery of silver TO 457s is symp-
tom all the more slRuinCdnI DcCduSo al goes
with partial revival of business in Europe.
Here another call loi bands, and receipts of
S3, CSC, 900 gold, with ads ices that 81 10000
more WIS on the way, have made the money
market more easy. Yet the banks have gained
practically nothing from large! receipts of god,
md the Treasury, holding $l,500,000 mDre
Than it did week ago, has put out az much
more gold certificates, with $500. 600 more
silver certificates and $l.300,0DO more legal
lenders. As the banks do not gain, there Ia
evidently large movement still to the in
,erior. The withdrawn OF bonds held for bank
circulation reached the large aggregate of
81, 552, 0003 per cents last week. vi lille only
S465.O0O of the and dig per cents were
added to the deposits. But receipts Of gold at
.ho Custom house were relatively but little
smaller and of legal tenders but little larger
han before
ny II