New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-10-07
MONEY AND BUSINESS.
after all

Brazilian emancipation of slaves, Argentine In
fntion and Russian financial reconstruction have
been felt in Wall Street curing the past week.
The telegraph has announced that the RothS-
childs have undertaken Russian loan OF
slO0 600, 900 and a Brazilian loan of like amount.
As tight money in London would make success
more difficult that house has q sufficient interest
in preventing strngency there, and the shipments
Of $1,000. 600 gold last week oy their American
represa NATIVE whether warranted by the state
Of foreign exchange or not, may therefore nave
been a wise and profitable defence against the
threatened drain Of gold. Brazil has undertaken
70 help planters who are in straits because Oh
emancipation The Argentine Republic Is strug-
Cling 20 escape a monetary COLLAPSE in consequence
of imitation and depreciation OF the paper currency
gold having been quoted at 20 premium during
the week Russia is striving with some success
TO get out of the financial embarrassment when
German policy is supposed to have pfoiohgeu.
France has been anXiousy retaining all the gold
if could until after the Exposition, and especally
until after the elections of yesterday. but the
ponl, If France lost s435. 900 last week, the Bank
of Germany $500. OOO and the Bank OF England
a 10000. while the New-Yorll banks lost
20 oce ono notwithstanding the Treasury paid
ont s. 900 600 more than it took in during the
y
so3 900 600 from the principal financial instltu-
lions of the world is not change to when wall
Street can be wholly indifferent.
Tho effect was felt rather in Trust stocks and
thar securities of uncertain value than in rail-
cod stocks but the latter fell three-quarters OF
, no, cent in average price, and the active stocks
roarlv twice as much. With sales of 160T2
sboras during the week, Sugar Trust rose from
oo n o. and then dropped to S3 7-s; with sales
90 otO.54O shares, Cotton Oil dropped from AZ rs
- A cents Atchison stock also lost about
e. nor share but in most other stocks there was
no ,rest change If the cliques and strong specu-
Iotors can hold on 10 their stocks, they evidently
,oon IN and the question is whether other bust
moss or this speculation shall give way. Inc
n,,t,o to the interior was large last week, and
,Lo demand at several interior points has in
creased. approaching strngency. But in Other
rosnects the outlook for railroad properties Is
more favorable. The earnings for three weeks
- Saptember and for twenty-elght roads the
fourth week, aggregated s22,4VLs2o, agalhSh
soo 422.G73 last year, gain of 10 per cent
posnsctinp the probable supply of money, the
soor,v foreign demand for wheat has some IN
enenoe The exports from principal Atlantlc
! rorts for four weeks were equal 10 5,2S%OV'
ipaLa1s aour included, against 7411, 63s last
| decrease Oh dpOub @ij"NNiN'N ~ '''A'~'
lille In corn the gain was about s6OO,OOO eX-
en,s having been a, 204,224 bushels, apinst
| q oo7 s66 last year. But the outward movement
- cotton was FASTENED by the Liverpool corner,
o.,d omounted to 1881 - bales since September l.,
| .,,oi,st 493499 bales last year, a gain OF over
| =, mo 600 in value. Exports of provisions are
| I'o large and the total value of merchandise eX-
aar,s from New-Yorll for five weeks has been 90
! non cont larger than last year. As imports have
! io.e,sed but little, the change indicates con-
! siderable excess Of exports over imports for the
month. but it will probably take some time to
n,ol,o GOOD the adverse balance created during the
previous five months which was over 500 ,OOO 600,
be.ides undervaluations and interest. With press
| ro for money mt European banks, this country
| l. liable TO have 10 take back it's own securities
instead OF specie.
! The speculation in cotton has weakened three
e,obtbs since the collapse of the English core r,
onJ coffee has declined an eighth, while corn has
! Loo, nearly n cent during the week. But wheat
and nor, products have been steady with scarcely
any change, and oil has declined but little. The
nrice of raw sugar Is a sixteenth lower and of
formulated an eighth lower, the cause appearing TO
be an inadequate demand for consumption Thus
| the state Of the markets on the whole favors in