New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-11-29
MONEY AND BUSINESS.


the fact they try to realize profits also. This
was true as to a number Of stocks last week,
and the question now is how many will have TO
get into new hands before the uncertainty can
mass. This state Of things usually follows an
active speculation in the wildcats OF the
Stree and the signs of its coming have been
noticed for several weeks. Especial activity III
some on-dividend payers was the feature last
week. and Reading rose S34 on the reported
completion of a plan of reorganization Lake
Shore rose 25s on the promise or dividend;
Texas Pacific rose ?, and some others made
small advances. But the excitement IN West
Point eliminated on Tuesday at TIA, and it
closed the week at ~ Memphis and Charles
ton declined els and Minneapolis preferred
3ls. while the selling of dividend paying stocks
caused declines of 2os III Burlington and
Quincy, in Illinois Central and as much in
Alton, and thirty five out of sixty active stocks
closed lower than on the previous Saturday
The average. $40 80, was but little lower,
however, aud the tone at the close was rather
stronger.
There has been no evidence Of n general
withdrawal of foreign money invested III spec
ulatOn here. Indeed. the continued shipments
of gold. OF which 81 900, 900 was started during
the week, and 5000, 600 arrived on Saturday,
indicate that no such withdrawal is N progress.
The trade reports for October show an excess
of merchandise exports over imports OF
S14S61,2 45, but for three previous months
there had been an excess of imports, and for
the nrevious nine months an excess OF
$40. 500. 900. The months accrulng interest
due abroad, with undervaluations, insurance
oh
money due to this side on the trade accounts of
October alone Had there been any consider
able withdrawal of foreign capital, therefore,
the movement of god would have been out
ward whereas the net imports OF gold for Octo-
Der were $5.14S, $685. In November the net
imports of gold at New York have already been
about 81, 900, 900 the increase IN merchan-
disc imports here has been $2,123, l9l, or
Der cent for tour weeks, while the increase LII
produce exports for four weeks has been
So, 99S. $50, or 1914 per cent over last year. AT
that rate the aggregate exports for the month
from all ports would exceed imports about
SI7,7OO, 900, and the most but not the whole
of the net imports of gold might be attributed
to merchandise balances. 1t seems that Europe
Is not yet drawing the whole of the accruing
interest due from this side still less withdraw
ing much of the capital embarked in American
specuations.
The Treasury has been taking in gold, gain
inc So, OOO, 900 for the week, against issues of
certificates at other points, and the issue OF
silver certificates increased $1,7O0,000, while
the stock of silver increased only 100000,
and the legal tender circulation only $2OO,0Oo
No less than $1,764,50O was deposited for
bonds Withdrawn, in excess of bonds deposited
for bank circulation. An unusual change III the
direction of payments to the Custom House
here is noted gold and gold certificates had
been steadily declining in use for some weeks.
INT suddenly increased in to ~. per cent
| of the whole legal tenders had been rising,
| but suddenly decreased to 1876 per cent of the
whole. and silver and silver certificates had
been rising but declined to 11.9 per cent OF
the whole. The announcement that So certlf-
Gates will be ready for free issue this week
promises further expansion of the silver
certificates. which have already increased
s4,755, 900 during this month. Activity in
! business is supposed by Congressman to call
! for more currency, but the Volume OF trade
indicated by exchanges at thirty one cities was
a little less last week than for the correspond
ing week last year, and s.3 per cent less for
the previous week.
| Prices of products do not generally advance,
though the currency expands. Another at
TAINTED boom In wheat collapsed last week,
though the close was only quarter Of cent
below that OF the previous week. Corn rose
cent the supply being considered not too large,
and oats a quart r. Pork sympathized with
corn. rising 81 cents per barrel, and lard rose a
s;xteenth. Buttn, cheese and eggs were
steady and cottol nchanged, in spite ofspecu-
| Iative efforts the stock at ports and interior
TOWNS has risen to 1,2S5,966 bales, against
! I 196. l43 last year, and the receipts last week
showed an increase of 10000 bales. Cotton
nr;nt cloths declined a shade. Coffee had
! huovant turn, but closed weak; oil mounted to
| 70 but fell below rs, and sugar was firm with
ont advance. No change is noted in coal, iron,
steel or copper; tin is 20 cents lower per 100
mounds. and lead 10 cents higher The re-
| markable advance in silver has Deen inter-
,upted by q reaction, and the week shows
loss of nearly cent per ounce.
The near approach of the session of Congress
,Sill not be overlooked by the weather. wise.
Already papers tell of the intentions of mem
hers who are going to cut down the tariff, reg
ulate the railroads, recover the land grants,
reform the currency, and alter things gener-
ally. Being moved by. late elections to con-
slider some radical change necessary to their
political welfare. each man insists that the
particular change that is indispensable is the
one he has publicly advocated. There is likely
10 be much wild talk early in the session. and
bossibly some reckless action that will not help
the general prosperity.