New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-20
MONEY AND BTSTNESS.

bear panic, due 10 the SuhrrnEN Of foolish
people who have sold Oregon lranSc"ntin"n'aL
"a stock Just now required FOR voting purposes.
suddenly lifted price, II stocks nearly 10 the high
est average for the year thus far; AZ the close
Oh Saturday $50 o. against S63 - February -
and $50 II OF this date last year. Nobody pro
fcSSos to believe that the stock more or less
accidentally corncrcd Is worth any morr than IT
WIS week ago, or II month ago, when n sold
ut 81. Neither is there any visible Improvement
in railroad cement or properties generally
to Justify an unusually large advance. Thus
average prices are 50 % per share higher than
year ago, or more than ID per Nnt, though
the increase in gross earnings reported per mile
opcrutcd was in April only per cent and yet
that month commenced with a gain Of IA per
cent for Scycnty-cght roads the first We *, ~
May now begins with a gain OF 5.GS PER cent
for cighty-three roads In March, last year, the
month OF Billiards, expenses show decrease,
but tho rule has been the other way. tn" trunk
lines for the quarter ending with March showed
IN increase in gross earnings Of only $4,000,
o- / IA per cent, in spite Of the difference in
weather, while not earnings gained but sdss,0OO.
H. is 10 Bc gladly recognized that the roads are
doing better than they were year ago: whether
moro than enough better to justify the advance
already rDIEpu III pIIVh, 'H'h WV huHI Jubb'
for himself
As usual the speculative Gt being on, the
rnrkct fails 10 take any notice OF gold exports,
of decreasing merchandise exports and incrcas.
ing imports, or Of industrial disturbances and
failures Tie failure Of the Amy WorStcd Works
was obviously due 10 the large impOrtatlons under
false Treasury rulings the correction Of which,
though long delayed. has come al last. mar.
lIct wGter.loggcd with goods imported lrnud-
ulently cnnnUt NJ once recover 'unc, but some
Improvement had been noticed last week, before
the failure at Philadelphia. A particularly OF.
fcnsve failure OF boot and shoe works NJ Lynn,
and nine Others at the same place the same week,
seem Il reminder of the sharp competition and over
production in that trade. Still lover prices
for iron are now quoted Southern iron is crowded
upon the market as earnestly ever, and while
the decrease in weekly output was 5000 tons
in April, it is now expected by all that n further
reduction must follow. The threatened STRIFE
against II reduction Of 20 per cent in wages
may be confined 10 the Carnegie works, but re.
ports are frequent that other eStabl shmcntS must
lower the cost OF production in the snme way
or else stop producing.
With some reason IL Is felt that these signs Of
industrial depression can be passed rs temporary,
so long Ms the crop prospects are cXccllrnt and
these have frightened each week Of late Some.
what too dry weather Is reported in two Of the
cotton States, but on tho whole, the conditions
are exceptionally favorable for all the prin.
cipal crops thus far Enormous supplies at the
West have lowered prices Of cattle and hogs
and tho foreign demand for corn continues.
Wheat fell LAST week LIZ cents for June. corn