New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-08-12
4 BRIGHr BUSINESS OUTTOOK.

Last week was prolific with It's assurances Of
further improvements IN the general situation
ana OF an unusually prosperous season for the in.
dustriaI ana commercial interests Of the United
States. The occurrences OF the week made the
monetary situation clearer 10 the average mind
ana dld much 10 remove the ictcs of Sirngcncy
which Led been created and encouraged
Tor speculative purposes. The railroad earn
mgS, even before the movements Of the
new crops have begun, generally show phenomenal
rrturns. The bank clearancps OF the country al
though - certain extent r1cctiv, Of past
mercantile transactions only now maturing still
show g;taicr and growing activity in general
business. he speculative markets nowhere are
ContributOy t. The lager amount oil clcarlnce>.
Inc more we know Of the wheat crop Of 1889
thc Iar-'r IT etCw, Ia quantity and thn better
IN quailtg. Aside from the gain in quantity over
last year, there is nov Little question that the
commercial value OF the present crop for the
purpose Of Touring will exceed that Of the crop
Of 1888 bv at least cents buslrl in it's intrinsic
merits. HE week developed H. improvement
on reported previous conditions OF the wheat
crops IN counties which i'm the supply OF Eastern
Europe have been tn United States greatest
competitors. Unless the damaging reports Of
conditions in Russia, Austria Australia and India
are gre ssiy exaggerated, Eastern Europe pcrforce
must be an unusually large buyer Of our present
crop. Last year, after our own millcrs had
secured thc cream Of the crop OF 1888, there was
little left which would be Of service 10 foreigners
AZ any price Ihis year the conditions are
changed. The quality Of the new crop probably
is superior Ia any ever before raised, and Eastern
Europe must have it to mix with tho poor grades
of other countries, even if the crops Of thOS,
countries had been large. The crop of oats is
the largest ever raised and also is Of prime
quality. The com crop. Of course is not yet
beyond danger. but its chances at this date are
fully equal b what they ever were at correspond
ing date There is no reason 10 anticipate that
atmospheric conditions from now 10 the maturity
of tlr c"ou viii materially vary from the average
Of preceding years. II has been shown that the
consumption OF iron during the first six months
Of the year WIS unusually large. notwithstanding
Mat during the whole period IL hid been pictured
rs being i'm n dolcful condition The output was
larger thqn usual. which tells the story OF
economics in construction and manufacture which
make prices which the novice calls runOuSy
low satisfactorily rnmuncrativc to the maIcrs.
In the railway situation there WAS an occur-
renee Of first Importance The most casual reader
of newspapers lately has observed that the Chicago
and Alton COmpany has come in for a large share
of free advertising through the agency # Western
news cnGns The company would do this and
H. wouldn't do fiat until il almost seemed that
n held in its hands the destiny Of all other
railroadS and ABSOLUTELY controlled the railway
traffic Of the United States. The citing of tho
thicago and Alton Company before tn Interstate
Commerce Commission on complaint and
specific charges filed by the Rock
ISLAM CcnI2nv separately and by
the chairman of the Interstate Railway ASsocia-
t0n is a most important step toward solving the
" great railroad problem" which has yet been
taken. Il is pledge made by each cooperative
member 81 the association that hereafter il will
obey the Interstate Commerce law and adapt itself
TO the situation as il exists, instead, as hereto
fore has TOO frequently been the case, time and
which the law could be cyadcd. The article
Of tie association which bound il 10 make COM
plant O. the Interstate Commerce Commission OF
AL violations of the law Of which if became coz. 4
infant was the strongest band Of the articles ~
the agreement Now that that portion Of the
agueoment has been put in operation each mem.
Der OF the association is placed under bonds for
good behavior, because Cach and all Of them
must expect retaliation If the opportunity is
offered. II hardly looks ms IL the association " had
gone III 90 piece" as news agency insisted upon
asserting that il had. after the meeting which
followed the withdrawal Of the Chicago
and Alton from the association il
is altogether too lively an institution
10 suit the purposes OF such ncws-vendcrs.
THE WEEK IN THE STOCK MARKET
The Stock Exchange last week in "A very small
way reflected the existing and improving cOndi-
tons Of the general situation. There scarcely
u let-up in the efforts 10 discourage buying OF
securities but yet, while the market ruled dull,
there WIS slow and steady appreciation in
values One reason for the markets duness
under existing conditions and it is an important
one. is that stocks have slowly been absorbed
during q whole year Of dulne,s and depression, and
therefore that arg' speculative purchases cannot
hc made at current figures. Hence the total all
sencc Of what Is commonly known as clique sup |
port. None Of the great commission houses are |