New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-04-22
MONEY IND BUSINESS.

broken and dull week, with the prospect that
the next two weeks will be greatly interrupted,
has resulted IN not much change In values or IN
volume Of business The indications are that an
improvement, slight but yet substantial continues
at most interior points in the amount OF transac-
tons but that the change a. 20 profits las been
rather the other way, most trade having been on
declining markets. Exceptions llre noted as
10 the cotton and sugar trades, where com para
lively large transactions were not the cause OF an
advance in prices. The average price Of commodi-
ties declined, and the continuing readjuStment
Of values in the Stock Exchange resulted in u
lower average by more than half n dollar shnrc.
Yet all these changes occurred with an increase
OF 81 600 900 in the reserves Of the banks, their
surplus Of $4,000, 900 being doubled in single
week, and the currency in use outside the Treas
my being increased e., 900 through excess Of
disbursements over receipts
As 10 the volume Of business, the bank OK
changes show an increase OF 90 1-2 per cent At
NeY-I0rk over last year, Notwithstanding grst
decrease ia snles OF stocks; an increase OF e
per cent In the aggregate at Boston, Philadelphia
and Chicago, where speculation Of various sorts
is active, and an increase OF less than threequnr-
tiers OF per cent over last year in the aggregate
clearing Of thirty-six other cities The markets
are all well supplied with money, but the demand
is almost everywhere moderate or light. More
activity in trading appears NJ few points, but
prevailing dulnnss to have increased ut Phil
ndcphia and PittSburg, where the iron trade Is
important, and on account OF wet weather at Kan
sas City and some other Western points The fact
that the average price Of commodities is fully 0
pr cent lower than az this time last year, notwth
standing a rise in some articles makes an i'm
portant difference in the meaning of oil records.
More things by 10 per cent must be sold 20 make
an equal volume Of business payments, but the
shrinknge in profits on declining markets must
necessarily be severe.
Viewed in this light, this months record Of
foreign trade IL significant The value OF i'm
ports OF New-York In three weeks has been
| s2s, $685. 900, against 500, 9s70s7 last year. o
decline OF per cent, and yet It is quite possible
that the quantities OF goods imported have on the
whole slightly increased The exports from Now
York In April show gnin OF 90 l-2 per cent, and
this may easily mean an increase of more than
93 per cent In quantities exported. The outgo Of
wheat has not been large, though with lower
prices increasing, but the cotton movement for
the month, 10 the 9th, has reached 204 0e0 bales
exported, against 15O,S67 last year, the increase
In port receipts having been only 5000 bales.
The stock 90 ports and interior towns is 241, 900
bales less than year ago. American splnners
have taken 32, 900 bales more than last year since
September /, and the price has risen during the
week about five-sixteenths. Flour is unchanged.
| but wheat closed three-quarters OF cent lower
and oats ghths, with corn only an eighth
higher Pork is steady, with lard and hogs a
shade stronger The heavy fall in copper is partly
reflected in lower but nominal prices here, and
lno1 lie do Kuifh in hi0haH
has declined IA cents for crude certificates,
for raw and granuated.
The railroads are doing more business than o
year ago. but the February gain OF per cent In
| net.earnings against 1-2 per cent in mileage IL
not especially Gathering. Thus far the gross re.
celpts for April are about per cent larger than
last year, but stocks naturally react after an nd.
vance has failed to enlist public support The
market Is not only left TO professionally but largely
to professionals who have blocks Of stock which
they had hoped to sell. Interstate decisions dis
putes Of Paclho and Oregon lines, depression in
the coal trade produce little effect On the Who'll,
the most substantial encouragement for investors
Is fonnd in the report Of The Railroad Gazette "
showing that only 47a miles Of new road were
laid In the first quarter Of this year. against about
1000 miles for the same quarter last year, state
ment which contrasts strongly with the Chicago
report that $4,000 miles are now in process OF
construction or projected" The actual delivery
OF rails for the quarter this year was saf, T6O
TONS against lS4,5s0 last year, aud the saleI "a
date have also been slightly larger, which appesrr
TO indicate more ability and disposition this yeal
than last 20 mako improvements and repairs.
The industrial returns are not Of such nature