New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-09-09
MONEY IND BUSINESS.

The Treasury paid out $4,000, 900 last week in
excess of all receipts New-lorH banks gained
only 81. 100000. 1t is not easy to account for
Cajn so small except upon the suppOSlon that
the shipmcnts of money to the interior were eX
traordnarily large. But money was compare
lively easy and the Street rjoiced in the assur-
ance that all danger Of monetary pressure TINS
fall was over. This impression stu remains
to be verified. Shipments to the interior as
large as those Of last week would leave the banks
without any surplus whatever next Saturday, I'M
less the Treasury should succeed in buying more
bonds than it has been able TO secure for Some
DAYS past The course of foreign exchange renders
gold exports by no means Improbable, Tor the
effort of the Bank Of England To keep and in.
crease its reserve has strengthened the demand for
money from Europe, whie the liberal outpourlng
Of money by the Treasury has weakened the re-
sisting power here 4 small movement OF gold,
il accompanied by shipments TO the interior like
those OF last week, would change the financial
PROSPECTS,
Imports continue large, for the first week of
September exceeding last years by Sl,0OO.OOO.
The exports of grain exceed last years, as is
natural because foolish speculation then checked
the natural outlook, but in August the shipments
from Atlantic ports were 4,63l, OH bushels OF
wheat, arainst 3,s53.40 last year, and OF flour
7G9IJ3 barrels. against 103,S10 last year. The
exports Of corn for four weeks were j,l3241O
bushels from Atlantic ports against 2,1OS,375
bushels last year. but the present scarcity and
high price Of cotton affect exports materially,
and while the price HIS declined l-s for spot
during the week options have advanced. Pork
products are lower, and wheat l cent lower, with
corn unchanged and oats shade higher. But oil
. fpb euU nP UNCHANGED
pricc though raw sugar has declined Is Tin is
strong AZ 81 60 cents per H.. and lead at 4.10
cents but Lake copper is offered for September
at o. - cents which docs not indicate great con-
Gdcncr in the ability OF the pool to maintain prices
4 remarkable feature Of the weeks news is the
~ adv increase in railroad earnings, which amount
TO s23.s51,S79 for August, only forty-onc roads
bcing reported for the last week of the month,
against s2l 513,S72 last year, gain of lO.G per
cent The railroads gaining most are the st.
Paul Louisville and Nashville, Northern Pacific
and Canada Pacific. but the increase in earnings
is shared 10 a greater less extent by nearly all
the railroads reporting. The bank clearings tell
the same story for August showing gain over
last year of IL per cent. But for the first
week Of September decrease which may possibly
prove significant appears in the exchanges at
Boston, Baltimore, Chicago and Ncw-Orlcans with
]
business was quite the largest ever recorded,
and any increase whatever is encouraging
The outpourng of money by the Treasury
stimulated stock speculation last week, so that
the average price Of sixty active stocks
/ advanced 81 II per share making So IS advance
! for the two weeks But the gain in some stocks
notably of the coal carrying kind, was not at all
warranted by information regarding traffic. The
coal trade is remarkably dull, and the effort OF
the companies TO stimulate it by restricting the
output for September has proved failure. and
/ vet the advance in Delaware and Hudson is ; j-s
/ cents in Delaware and Laclnwanna cents, in
/ Reading cents, and in Erie nearly cent. 1t
! may fairly be questioned whether such advances
! ~ these are safe, and at the first reaction in
/ prices the coal carrying roads may be expected
| 10 lose as much as any Others. But the whole
| market is strong confident, and inclined TO adj
vance without much regard for statistics
/ Apart from the bright crop prospects, there is
much 20 encourage The iron industry, by many
regarded as n most trustworthy barometer of trade
| is stronger and more prosperous than ut any pre-.