New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-28

urove very much larger than it would have been
n he worst OF weather had come as early as
usual
Next will be heard complaints, it is probable
that the winter wheat, because insuficiently de-
Tended by snow has been seriously injured. As
these accounts always come when there is any
body anxious to sell wheat, 10 may be pertinent
TO observe that reports can hardly be more fright
ening than they were last year, when some people
really believed that the yield OF winter wheat
would be reduced third, and yet the Official
statement just issued shows that she decrease
In yield was only 100000 bushels, and that
IL was wholly accounted for in decreased acreage.
This may be profitably remembered. Wheat has
declined 1 l-2 cents further, in spite OF talk OF
foreign buving The actual exports from Atlantic
norts for three weeks of January have been
ca 9OI bushels against 1, 270,717 last year, and
n $50 barrels of -four against 6e2552 last year.
But in place of wheat foreigners have taken
from Atlantic ports in tho same three weeks the
surprising quantity of 5,577 249 bushels Of corn,
against s50,569 in the same weeks last year.
The statisticians who always calculate that
foreign consumption of wheat must be exactly
the same whether the price is high or low, are
having a hard time Of it TO work out their pre-
dicted famine. Corn fell nearly one cent in spite
Of exports, and oats fraction. Pork declined
IS cents per barrel and lard 10 cents per 100
pounds Coffee is also weaker, declining nearly
half cent.
Cotton has reason for being q shade lower, be-
cause receipts are over 90 per cent larger than
last year fer Inst week. and nearly % per cent
for January thus far. The exports slacIened q
little, having heen 4sO,8s6 bales since January
/, against 1871 last year. Mr.. Elison's esti-
mate 100000 bales for American yield, and
that Of Charleston paper, which believes IN
7,500000 bales differ widely from other recent
accounts. The publication Of estimates Of the
worlds sugar crop, indicating yield Of 5,240 600
TONS against T. 045 900 last year. appears to justify
the fall OF an eighth in raw. but the trust holds
crushed unchanged. Oil declined until Friday, and
then took a sharp upward turn for purely specu-
Iative reasons, closing cents higher. In the
minor metals, the controlling force is the fear
that the copper syndicate will be found over
loaded, and, while Boston reports that the stock
Of the proposed Metal bank has all been subscribed
and that the object of the decline in price was to
buy copper stocks the practical result is decline
of so cents per 100 pounds in week, which means
a difference OF s2,OO0,O0O in the value of the
stock held by the syndicate.
The returns Of foreign commerce for December
show an increase Of 100000 in imports and
81 500, 900 in exports over last year, Of which
about 81 /, 00O 900 was in cotton. Thus the years
report shows an excess in imports over exports Of
only s33 500 900 merchandise and net exports of
500. 500 600 gold and 81 6,5O0,0oO silver. Con-
Sidering undervauatons and interest, foreign
capital must have been invested here 70 the extent
Of >about 81 20, 00O 900 in excess Of Withdrawals.
The export Of 81, 100000 gold last week caused
no remark, and since January ] the imports OF
merchandise at New-Yorlx have been only 2 per
cent larger than last year. while In exports the in
crease has been IL per cent so that considerable
excess OF merchandise exports in January is to be
expected The Treasury has done nothing to
affect the market except the purchase Of 81 10000
bonds so that its cash is only 81 10000 lower than
q yeaE ago.
The Industrial prospect Is more satisfactory ex-
cept in the iron trade but there serious weakness
results from q simultaneous large increase in
production and decrease in demand The increase
in production Is mt the South, where last year
,i32, s5S tons were produced, against 92o,436 in
1887, whereas the total production WAS only
73, 600 tons larger. The great decrease in demand
is in railroad iron. OF which only 100000 tons
were delivered last year. against 100000
produced the year before. and nothing now indi-
Gates that this years demand will equal half the
capacity OF the works. Nevertheless the enormous
increase in other consumption of iron and steel
must be reclSoned one OF the most important facts
OF this lion age.