New-York tribune., 1886-05-03
seems to have been saved in a jolly boat. He
has apparently como to stay.
MONEY IND BUSLNESS.


MONEY AND BUSINESS.
The New-York banks lost $l,S96,7OO or
their reserve last week. the Treasury only gain
ing about as much for the whole country,
s1 600. 900 in gold, 5000, GOD in silver, and
S4OO. boo in legal tenders. More gold went
abroad. S1.O2O.OOO from New-York, making
about S3. coo. 900 during the month OF Aprll
from this city. 1t is due to this fact, and not to
tbe comparatively small change during the
month in Treasury holdings as shown by the
| Jeht statement that the New York banks have
failed to recuperatc their reserve as usual In
/ AnriI and close the month with %l05, 200, 600,
against $lOl, 100000 on April ). Ihe ten
dpncy OF the reserve is now downward, because
the tendency of gold is still outward, !or 40
nestle exchanges everywhere favor New ork'
The outward movement Of gold has been tih-
usually large for this season. During the hrSt
quarter of the year, the net ontgo Of geld ON
all noIts was 81 1 ,62i, 1872, against net imports
of g ,SC1, D00 for the same quarter last year.
The net exports were even u little larger than
dining the first quarter of 1851. But the banks
thcn held about 500, 900, 900 less reserve,
and had surplus ut this date of $l,OOO,Ooo,
whereas they now hold $12,OOO,OO0.
/ 7 heir reserves were about the same at
this date in 1879, when the hopefnlness OF
spring was followed by much stagnatlon ana
MANY failures. But the state OF foreign trade,
now so unfavorablc, was then very different !;
no gold went ont during the first quarter, AMI
the exports of products exceeded imports by
S23. .OOO. 900 in the month of March, whereas
this wear the imports exceed the exports by
S6,000,O00.
h,y N OF
late that the bank exchanges, though less
favorable than before, have little value az a
measure of the state of business The interior
troubles would presently adjust themselves, II
thew were not constantly affecting and Affected
by the state Of foreign trade. Thus last week
the outgo of gold was probably due entirely to
large sales OF securities on foreign account, ana
those sales were due to labor distu Dances
here. The stock market last week de-
clined on the average 2.47 per share. Though
the market was little lower uuI-
ing the day on Saturday, the average of sixty
stocks at the close was $50 %, which IS lower
than it has been ut any other time since Octo-
Der 10. The labor troubles are recognized
as the chief cause of the decline, but 1t must be
added that the returns Of traffic are not entirely
satisfactory The shipments from Chicago last
week amounted to 1926 tons, and It. is re-
ported that the Chicago and Atlantic took
4. 900 TONS against 81 ,7SS tons for all roads
for tie same week last year. The Lehgh
Valley with the Wabash is also taking some
freight. it is said 1900 tons last week ;
J7G.OOO bushels of grain reached New YORK
bv "other roads, IN the month Of March,
mostly by the Lchigh Valley, and it is reported
that the movement has been greater since
These shipments do not include cattle ana
dressed meat, and remarkable statement
shows that the quantity shipped IN March
amounted to about $4,000 tons, according to
The computation of The Rdilrodd Gazette
AGAINST 46, 900 IONS last year. But the charac-
ter of shipments has greatly changed, that
journal believing hat fully pounds OF dIessed
meat came east during the month against 5
mounds on the hoof. The shipments from New
Yorl, westward have been less since Mare !,
averaging in April 3,097 daily, against 3,4ol
tons last wear. Tho Northwestern grain ship
ments. including those by lake, were larger III
tue week ending April 24 than ever before IN
single week, namely 9,1c0,O54 bushels. Only
once before have the shipments exceeded
S. .OOO. 900 bushels, in the week ending May .,
1885 But the rates by lake declined as soon
"a the feet had put put, and freight room was
at once offered at 3ii cents per bushe
Considering the dlstul bance in speculative
circles prices of products were unusually well
maintained, But wheat declined 13s cents
corn To- oats 2al cents butter also declined
cheese H. cent and eggs d cent, while sugar was
steady. crushed advanced Is and coffee the
same. Lard advanced 3 cents per 100 pounds,
though pork was unchanged, and tallow de-
(atf IL
nrints remaining unchanged tin advanced 80
cents copper 10 cents, and oil Us per barrel.
Coal is in better demand, the Ciearticld strike
helping the anthracite coal men, and the price
advanced 10 cents. The iron market seems
less sanguine. though no definite change IN
prices is admitted. There is reported, how
ever sale of steel rails at Philadelphia at
$3I 80.
The outlook is not satisfactory, because labor
disturbances at this season are Liable to affect
trade for the rest of the year. 1t Is bad set
back that the labor agitators have given the
cause of labor, and thousands of families of
honest workingnen are liable to go hungry
before the year ends, because there has been
too much reliance upon the mouths oil labor
agitatOrs. The stoppage of works, IN great
many cases where strikes are threatened, IN
dcatcs that capitalists realize that there Is rea-
son to doubt whether the business of the cOun-
try iustifes tie increased production Or the
advance in cost of production. The Reat
Estate Record also Si yes warning that building
in New York and speculation in real estate here
have been overdone, and that it Is il dangerous
time to make new ventures i'll that direction.
|
CHRISTOPHER COLUNBUSS BIRTHPLACE.
The iconoclast Is on the war-Dath again intent
upon bringing the-truth-othstory to grief Last
time il was Lucrezia Borgia-blr Astor discovered
l ALnrt .Ln hul hrnn