New-York tribune., 1888-03-26
MONEY AND BUSINESS.

Greater activity r speculative markets sihce
the blizzard has not been synonymous with great
Improvement. In stocks, wheat, corn, oats, cot
ton, pork, lard oil, sugar, tin and copper prices
have declined during the past week more or less,
while coffee was also weak. but recovered, and
lead is stronger. Iron Is unsettled, with ten
dency toward lower prices; coal is weaker with
reduction in frcights the Lebigh already, and
on other roads April and wool quotations av-
erage lower, though medium grades are scarce
end firm The dry goods trade has been more
active aso in part because orders delayed by
the interruption of mails and business had to be
filled, bat numerous auction sales Of late, or soon
to be held, have disturbing influence. The vol
umc of business indicated by exchanges is there
fore larger, showing an increase over last year
of l-2 per cent here and "a per cent at the
chief outside cities, but the increase In volume
is not altogether of an encouraging sort
In the stock market sales exceeded a million
and n quarter shares, and Missouri Pacific de-
ciined most and caused most talk, though the
actual sales as large or larger IN Tour other
stocks and in the Reading nearly three times rs
large The average price declined during the
week II cents per share. or course the STATE
mcnts of earnings now coming in show more losses
than gains, on account OF the recent storm, Dut
the news vas generally favorable until the strilSc
OF the Burlington switchmcn introduced new ele-
ance will spread, but the answer of the Rock
Island, affirming that Burlington and Quincy peo-
nile have been trying to induce other Western
roads to Join in trust, and, persuaSlonS 1alnhg,
have resorted to strikes and wars In order 10
force them into the arrangement, Is httic more
interesting than trustworthy. 1t is not necessary
to discover elaborate explanations Tor the per-
fectly obvious consequences of excessive and SUI
cidal rivalry in railway building throughout the
Northwest. Until traffic has adjusted itself to
the presence Of two roads where there is business
enough for one, disturbance in one form or an
other will hardly be avoided
In this connection pbenomenally low rates to
Europe ore noticed Some steamers are begging
for the privilege Of taking grain or other height
at less than the bare cost of loading, and half
cent Der bushel for wheat to Liverpool is the
nominal rate. Yet grain exports do not increase;
for the past four weeks from Atlantic ports they
have bc.p 2I67,I54 bushels wheat against
60s5l2l last year; 81 or barrels flour, against
800, 755. last year; and ,2,Ooi,659 bushels corn,
against A. 933, ,80S last year Wheat declined
during the week / 3~8 cents, May corn three
ouarters and oats the same, with -four cents
lower The ingenious statisticans speculative
or official who eIiborately figured out their dem
onsrations last fall that the worlds actual deli
cheney of wheat was going to be sixty to ninety
correct their figures. The exports of cotton for
n week past have been 21S,l96 bales, against
324.347 for the same week last year, and the
shipments last week were smaller than in tic
week of the blizzard. The failure of leading
firm did not seem to have much influence; the
fact that the quantity in sight continues over
400 900 bales larger than last year to date, and
that stocks at ports and interior towns are
;.Ol765O bales, against 1921 at the same date
last year, explains the decline Of threesiX-
tccnths.
The Bureau OF Statistics has increased its val
liable services to the business community bv pub
fishing detailed statement Of quantities of goods
in warehouse January l, from which it appears
that the enormous imports of iron last year sub
stantialy all went Into consumption. Quantities
in warehouse did not materially increase; in pig
there was no change of conse luence in tin plates
the decline was 100000 pounds, in other man.
ufactured iron the increase was 1000, 900 pounds,
and in rails 7,47l and in scrar 24.087 tons.
But the demand is no longer what it was. and
British exports to this country in February were
only g. 730 tons pig and scrap, against 6O,OC3
last year. and OF manufactured iron 12,625 tons
against 0,0S4 last year In tin plates there Is
an increase, 2l, 7l2 tons against 1896 AS to
home production the Pittsburg staten mt for March
makes thr decrease since November only
l94 per cent in iron of all kinds, while the New
York statement, using that OF Pittsburg rs to char
coal. makes the decline 24.5 per cent South
ern and Western iron OF al kinds continues to be
offered at depressing prices ana some other fur
naces have stopped since March l..
The Treasury has not nterfered with business;
it holds only s4OO, 900 more in cash than week
ago, and has drawn 100000 from banks. De
cline in exports leads to increasing canton Of
bankers as to loans The imports at New-York
for three weeks are but 2.3 per cent over last
year. but the exports hence show 2l.6 per cent
loss for the same time. II is stated that the
rail differental rates in favor of Philadelphia
now divert most OF the Chicago export trade to
that port. The primary objection to this theory
Is that in February when the same rates were
In force, official statements show smaller exports