New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-04-09
MONEY AND BUSINESS


termination of Western railroad strikes and tho
nossago Of the Bond Purchase bill. Realizing
after an unusual advance appeared on Saturday,
but closing prices averaged $50 O3, gain Oh
40 80 for the entire list and the average has ad-
vanccd as much in one week as 1t had previously
lost IN four weeks As every long rise Is broken
nv drops and scoops which help to relieve
large operators Of too much company, SO pear
manic does not necessarily mean thai the COURSE
of tho market is permanently changed. Inc rear
that il may be- when stimulated by the uniIeo
efforts of leading operators both sides to create
n rally. makes a rapid advance easy, but then
tbe question remains, which side Is to have tho
host Of IL afterward2 Beyond the narrow circle
OF speculation, the public Is meanwhile taxing
no hand in the business.
A pinch In money oftens comes about April l.
when heavy settlements occur in nelghoorhg
States. and over 100000 was sent to Boston
one dav this year to meet present needs, but the
comparative inactivity Of business renders the
monetary supply ample In all parts Of the coun-
trv A close market is reported at three or four
clearing house cities, but Yearly all have an
abundant supply of funds, and the point OF APP
nrebended pressure Is passed Large Government
disbursements and the destruction Of sl,3SO,5S4
bonl, notes took So, 300 900 out OF the treasury
Loot ,vael,. and the reserve of New-York banks
nrobably increased, though the averages sho"ed
n decrease Of nearly sl,O00,OO0. Treasury re-
ceipts are less than they were, though imports
last week rose again to s11,170G16, gain over
last wear Of 20 per cent 1t Is clearly an uh-
favorable feature that, while imports increase,
exports for four weeks past show decrease OIL
2O4 per cent and that not because OF inc ioSs
in one week, as might be supposed. Last week
loss was 1872 per cent. For the present. now
ever. there is money enough, though the treas
urv has diminished the circulation since Jahu-
ary l of coin S7700,0o0, of gold certiiicatcS
81, 800. oo0 and Of legal tenders and bank notes
sl77OO, O00 while increasing the clrcuiaVioh VI
silver certificates SID, 100000
Tho TRANSMITTING business falls behind last year,
nartly because last years earnings were at thlS
time exceptional. Roads reporting Tor Mafch
sbow n loss of ) l-2 per cent, and for the fourth
week of March per cent the tonnage from New
York westward was only 9S,454 tons in March,
against l3Ol44 last year, and the decrease III
east-b bound shipments has been as great. But the
storms which have ended and the strikes when
seem to have ended have made much trouble UhlS
year. and the bank exchanges for the hrst "ech
of April wear a more favorable aspect. Inc record
Of failures also, is practically equal to that oil
last year to date In the United States, though
greater in Canada, which, considering the large
number Of speculative failures, is not a bad show
inc Tn short. but for the obvious depression In
some great branches Of industry, the outlook would
be considered generally encouraging
During the year ended March l, the NUMBER Oh
hogs packed fell 4.6 per cent below the previous
vear and the quantity Of meats and lard produced
Nas G. per cent smaller A decrease about twice
rs large is expected for the summer. The recent
sales of woollens have shown that the manufacture
is poorly remunerated, prices averaging low while
impous are large. In February there was an
increase OF 100000 yards In imports OF dress
goods over last year, and 100000 pounds OF yarn
and 200, 900 pounds OF cloth, while the Imports
of raw wool increased l,l53,OOO pounds Dut
though reduced prices have caused more activity
of late the total sales Of wool at Boston FOR tho
past nine months show q decrease OF 3O4 per cent.
The average decline in prices on more than loV
qualities quoted has been half cent since January
l. and 3.8l cents since March, 1887, or IA per
cent while on woollen goods authorities state
that the average decline has been to 10 per
cent. Last year in March the average price OF
lO4 qualities Of wool 26.15 cents per pound,
in April, 25 20; this year, in March the average
was 22.43 and in April 22.34 cents.
The cotton receipts up to April l have been
6.b46.21O bales while the last entire crop was
6513623 and the New Orleans Cotton Exchange
and the Agricultural Bureau estimated this crop
at G. 300 600 or less After April l 357,425 bales
came forward last year; If only 100000 should
appear this year, the crop would reach 100000
bales The quantity taken by spinners Is
now reported as 1851 900 bales against sol, 900
for the same months last year. but the increase or
decrease in stock is not known The April state
ment Of iron furnaces in blast is not yet out, but
the closing Of Mr.. Carnege's works at BraddoclE,
and Of eight or nine other establishments during
the past month, has probably reduced the output
again, so that it is supposed to have been about
30 per cent below that of March, 1887. Imports
Of all kinds Of iron in February were s975G tons,
against l45, 237 last year, but the home demand
does not appear to have improved as yet.
SOMETHING THE PRIMERS WANT