New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-13

IN Ohio and othA parts of the country having
,topped production The Thomas Iron Company
reduced it's price for No. anthracite to $40 oO
NJ tide and SIS for gray forge, or-sayS pup
lishcd stntemeut-lower still II necessary 10 meeC
Southern competition leading virginia
furnace Is reported 10 have reduced its price III
turn 81 90, while Alabama iron was previously
sold here and at Boston at SO for No. ]. Inc
c,nocitv Of furnaces in blast May /, according TO
the Pittsburg american Manufacturer was
hpt 1ss, 28s tons, against l44252 April l, while
the statement Of The Iron Age makes the de-
crpsse 1928 tons for anthracite and bituminous
olone, Since the lowering OF prices it hos been
stated TINT several Eastern furnaces have de-
termined 10 blow out, the Southern iron having
been largely sold ut prices with which they do
not wish to compete.
Meanwhile the prospect Of excellent crops grows
brighter the Government report for May in
dicating q better condition OF wheat than was re.
corded at this stage even IN Ss4, when the yield
was the largest e> er known. Acreage is prob
ably about the same as in that year, the increase
in spring wheat regions having apparently been
larger than official reports have indicated. The
grass crop also promises unusually well, and rye
and barley are in excellent condition. With large
crops this year, the prosperity Of the farmers may
be expected TO do much toward stimulating other
industries especially If spectators do rot again
undertake 10 stop exports by fixing arbitrary and
absurd prices But abundant wheat is likely 10
be cheap wheat, since considerable surplus
VIII be carried over from tins year, and the
formers of the West may therefore continue dis
posed 10 compel transporting companies TO carry
losses as well grain.
The report Of the Atchison Company has at
tracted attention chiefly because OF its evidence
as 10 the damaging effects OF competition and
low rates last year. Many railroads complain
that rates fixed by State commissions rs in Iowa,
or by the operation Of tie Interstate law, leave
them profit, and the returns Of 1876 roads
for April show that G9,lG7 miles earned s37S
per mile this year against 1914 last ycar-but
little Improvement over q period OF severe COM
petition. The returns Of about dozen roads
for the first week Of May ore favorable, only
four showing small losses But the perform
anccs in connection with the St Louis and Ar
kansas have also contributed 70 disturb conf
dcncc, though the CONTEST for control OF Oregon
TrnnscontinCntAl and other stocks OF the North
ern Pacific system have tended 10 LIT prices.
The average ut the close last Saturday WAS o3
cents per share lower than the average at the
close OF the previous week
Exchanges through the banks in all parts OF the
country show some Increase in comparison with
last year, and monetary anXictirs have almost
wholly disappeared for the moment, although
the Treasury took in s4,OOO,OO0 during tho
week more than WAS paid out. The Ncw-lork
banks apparently gained from other sections
nearly the whole Of their share Of the loss.
But cotton exports, though still in excess Of
last years, are gradually diminishing and the
exports OF wheat and -four, though large com
pared with those OF some weeks ago, are yet
unimportant The yalue Of exports from New
York for the latest week reported were conNid-
crnbly below last years, while for two weeks
Of May imports at Ncw-iork show on increase
| ~ g.. 700, OO". or u per cent. Grain has been
advanced n little By speculation, but cotton and
oil are lower, and the general average Of prices
| for commodities continues 20 gradually decline