New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-16
MONEY AND BUSTNESS

| Money now comes back to the banks in large
| amount. Only fraction Of their heavy gain last
week was due to the Treasury which managed
by increasing its deposits in banks $1,000. 900
to add 81, O0O 900 to the circulation Since Janu-
| airy it has added about $1,000. 600, partly by
interest payments and partly by increasing its
| deposits 81, 600, 900. The shipment OF bonds to
Europe last week lightened the load and lesscned
the loans Of the banks, and money is not only
| easier on call, but some banks begin to look
| after commercial paper Interior markets through
| out the country, with scarcely an exception. were
| little easier last week and there were not only
| fewer complaints than have recently been heard
Of tardy collections but the reported failures
| thirty-ive fewer than for the corresponding week
| last year The exchanges are scarcely larger
because Of the large decrease at NewYorl1 outside
| Of this city the aggregate reflects increasing
volume Of business. Railway earnings on forty
three roads for the first week Of January also
show an increase Of 7 per cent.
The official statements OF December exports are
not favorable; in 'oton the decrease was So ILL.,
1927, or nearly % per cent and In breadstuifs
So, 763,247, or more than 20 per cent, while the
increase in value of oil exported was but s393,S2l
These returns prepare for much smaller excess
Of exports imports than was indicated by the
New-Yorls movements alone, and show that the
rise in prices In December shut OF exports 10 q
much greater extent than SPECTATORS were dis
posed to admit. No general decline in the level
Of prices has begun, however, for though bread
stuirs are about 2 per cent lower than at the
beginning Of the month, meats less than per cent
lower sugar and other articles of the taxed class
and clothing articles less than half of per cent
lower and metals shade lower, an advance in
dairy products, hay and potatoes, and in coal
lumber, linsoed oil and turpentine, makes the
aggregate a shade higher than January 3. Stocks
also have scarcely changed cents on the hundred
dollars Of nominal value for two weeks and only
2 1-2 cents per share last week their steadiness
in spite Of strikes and other disturbing in
huences is by many attributed to the buying of
investors, while others, with much apparent
reason point to the obvious and constant manipu-
lation of ciques.
The returns of iron furnaces in blast on January
/ need to be read in the light of the fact that
the Reading strike had not then occurred. The
Iron ge" makes the decrease in weekly output
from December to January no less than 1923
tons, or more than per cent. but explains that
700 tons of the decrease is apparent rather than
real, being due to modes Of reporting Yet decrease
Of 1000 tons weekly in bituminous. 1921 tons
prior to the Reading strike, is evidence that the
Presidents message was not exharating in its in
fucnce Since January |. further considerable
reduction has resulted from the strike; the follow
ing compares the weekly output at its maximum,
November /, and at the beginning and end of 1887:
l. 1888. Nov. /, 1887. Jan. I, 1887.