New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-03-24
MONEY AND BUSINESS.

C.ve-uucuf disbursements made the money
,o,,,,c, ,omuaraiivcly easy last week, not"iih-
standing the approach of the first of April. Pay
..,.,. l. ffr Treasury exceeded ~, receipts for
,be week by s,.,oo.ooO. not half that amount
heinz for bond, purchased. and II Is noteworthy
fact that. with receipts amounting 10 S2j,2S',2"5
for three week, of March. the Treasury has, never
,hcess been able 10 reduce is cash balance more
,hor 81 900 600 The banks have not gained all
hat the Treasury has lost. for more than :'."oV-
600 has gone during the month out of the banks
and the Treasury 10 meet wants elsewhere. ana
during tie last week the ouigo from The treasury
aad banks taken together was ST. 10000. Nherc
the money goes IS not so clear, but the iac' 'h''
IL roc, should not be- overlooked, because many
have been reckoning on supposed complete dis
continuance IF the interior demand with larger
reserves and reduced loans the banks are IN far
condition 10 meet the temporary demand which
usually comes about the first Of April, and soon
after that date considerable money Is expected
10 hc released The supply of money for call
ioans is believed 10 be- materially increased by
the disposition of lenders 10 keep their money
within quick reach jpsr now, and the readiness
10 take commercial paper has not been increased
hy some recent failures.
notwithstanding the practical cessation of anN-
the market for stocks has not. on the whole.
STRENGTHENED but the siagnaiion has brought
only a rrfne decline IL cents per share during
the past week IN tl, average price of railroad
stocks The trusts are lower. except sugar which
WAS strengthened by a decision favorable TO y
dividend Reports that Congress will do nothing
about the tariff on sugar also helped. and are
about as Trustworthy as most speculative runors.
No one in or out o. Congress can have reason
for certainty as 10 what will be done. but the
chances are heavily In favor Of the adoption oi
that measure which the majority Of the committee
may report Railroad tonnage is large. and West
crn movements of grain receipts at the principal
poinfs exceed last year for half of March by -
per cent I'm wheat per cent in Hour and 100
rcr cent In corn Though cotton receipts have
fallen on earnings for two weeks of March show
increase of per cent. following the gain of
per cent in gross earnings per mile in February.
and the gain OF II per cent IN net earnings IN
January. But it Is "A common. and often fatal.
mistake 10 suppose that with "A stock market in its
present state, earnings have much influence. When
almost every active stock is so controlled that
few holders can make the price what they please.
bnt every little rally is met with an avalanche
of stocks for sale, the public afford to let
dulness reign.
| It has hardly ever been more necessary than il
is now, in Judging of commercial prospects, 10
distinguish between new business ana settlements
on past transactions. 4 large share of bank
cearines arise from paper given in settlement of
! Transactions some months ago. The Increase
continues heavy, about 10 Per cent over last
year outside Ncw-Nork, but no one can say with
certainty that the gain is not merely an echo Of
the great trade last fall and winter. Better
! evidence is afforded at present by tonnage re-
turns, which indicate an unprecedented move
ment of products, excepting in coal and wool be-
cause OF the open winter, and in cotton because
OF the extraordinary shipments for five months
| OF the crop year. The iron movement Is much