New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-30

MONEY! and BUSINESS.

and abroad begins to have its natural effect The
banks gained So, 100000 more in their reserve
and the sales Of bonds last week to 81
900. making about 500 900. 900 for four weeks Of
January against about s40,O00,o0 last year.
Though many Of these sales merely speculative,
the evidence Of increasing demand for securities
ia also found in the success OF several railway
negotiations and IL is rported that some syndl-
Gates which took large blocks before the market
Aatteued last year and have since been carrying
their load, have now been able to sell This
promises more money for stOck-buying and so the
average price of stocks has risen fully 81 per
share from the decline early In the week. Success
in placing securities also renders possible the con-
struction of more railroads, and so the Pennsyl-
vania and other trunk lines, which had kept back
their annual contracts for rails have at last begun
to buy
The Pennsylvania's purchase of $4,000 tons is
said to be at s3l so, and several other contracts
in all 100 600 tons for the week, reported at
substantially the same figure. Probably this will
terminate the deadlock in Lake ore, contracts for
which arc usually made about January I, but have
not been closed because ironmakers doubted
whether reduction In the tariff on ore might
be effected A large decline In the price, which
was IS to SO per ton last year, has been expected
but It Is not yet known what terms have been
made. The purchases Of rails are not for new
construction. but for the ordinary renewals re-
CURED annually, and the Pennsylvania system.
reporting over onesixtb Of the entire ton-mileage
Of freight traffic on all railroads in the country,
needs many thousand tons even in years OF es-
pecial economy. Its December report of decrease
in net earnings the similar report from the Erie,
both for December and for the last quarter, and
similar reports from several other roads show
Ht%1n lane r.ipna nan hQ
upon as indications Of prosperity. The effect of
Western storms is felt in the railroad reports for
the third week OF January, which show an in
crease Of 81 per cent against IL per cent for the
second week.
The anthracite strikes do not end though agree
ment may be LIZ .ught by the decision of
the miners to leave the railroad hands to fight
their own battles. The suffering and loss IN MIN
ing regions will be felt moro severely in business
operations later, but meanwhile other anthracite
and btumnous producers are increasing their OUT
put to the utmost, and for three weeks of January
the anthracite shipments from mines were 100000
tons, nearly quarter, larger than for the same
three weeks last year. The output of all kinds
Of coal was about per cent larger last year than
in 1886, but the increase in consumption OF
iron was nearly twice as great. The progress OF
another great industry is recorded this week IN
Mr.. Valentines report Of production OF precious
metals, aggregatng 81 o. 645,059 for ss7, against
sl03,0ll,76l in 1886: the increase since j oS4
has been about O,OOOO 900. In gold an in
crease of 10 per cent last year appears in silver
decrease OF 2 l-2 per cent in lead an increase
Of 8 per cent, and in copper of 2 per cent. But
this does not include production cast of the Mis-
souri, River and does include shipments from
British Columbia M Mexico
Last weeks markets for products were unusu-
ally irregular; wheat declined cent, while oats
rose l cent pork. sugar coffee and cotton de-
clned each little, and oil l-2 cents, while TIN
and copper advanced each 30 cents per 90 pounds
Since November l pork-packing at the West has
fallen below the previous year by 100000 hogs,
or / per cent, which speaks more plainly OF last
years drouth than any advance in corn in fact,
IL may be questioned whether the decrease in ami
mails to be fed is not great as the decrease in
corn to DO eaten. Potatoes and some other vegc-
tables would be much higher but for large i'm
portations and on the whole it is noteworthy
that after so serious drouth, and with the great
expansion that has been made in currency, the
level of prices is still much below that OF Janu-
airy, 1882, following the partial failure OF crops
in 1881, though it is slowly advancing, having
rained about 70 cents on 81 90 during the past
month.
Imports were large again last week, and Tor
four weeks at NeW-l ork nave Deen ID ., -%l,~'~,
against 1872, 9l5,277 last year, an increase OF ID
per cent, whereas the increase in exports from
New-York has been per cent. The Treasury
has increased it's deposits 100000 during the
week notwithstanding Secretary Fairchild's re-
ported declaration that $50, 1000 900 was as much
as could be safely placed in this way. 1t Is
stated that 81 900, 600 is known to have been
returned to the Treasury by banks which were
early applicants for deposits, and the continued
evanston indicates that different set of banks
arc participating BY its deposits the Treasury
has avoided Withdrawing cash from the market
during the week, and at nearly every interior
point tho supply Of currency is reported ample
Complaints Of slow collections are more nfrequent,
but the failures last week were 26S, against 236
last year in this country, and 40 against 50 IN
Canada. For four weeks the reports cover ,o5S
failures in the United States, against LOTT last
wear and 1,Iso in 1896, but in Canada the In
crease has been marked, 14o this year, against
III last year and l0S in 1886.