New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-09-01
MONEY IND BUSINESS.

Sudden relief in the money marker pF itr'S-
urv purchases ~ bonds, and REFUSAL vi "''ot
fcdcra,ions 10 have anything 10 Il" with 'hr NJ
Icyrd strike on ,hc Nrw York Central. have lifted
the average price Of stocks 81 - per sh'r' ""'"N
Il, las, week I,ut while the Treasury has
h,rpIt sIs ooo 600 II the l-2 per cert 'n's.
ard 1856. 900 ounces Of silver. putting II cir
ru,,,,on already about Sl,loo.ooo u the new
potcs. the Ncw.Iork banks have Increased their
re.rrvcs ONLY S.1j,UuO. The gratcT part "t
Treasury disbursements only srrved 10 hHlHnr
IN. heavy receipts, and the actual cash he'll Ga
Saturday wus ONLY 5000. 900 less than was l"ll
-, .;lc end Of ~. previous week. Dr,lmc'ing tie
bank, ysn there would seem Ia have been over
$4,000 600 sent 10 the Interior. and yet accounts
from other commercial centres show decidri'y
mere closcncss or str!nrcnry than week nI"
ro,,nn (, easier and Chicago fairly Supplied NJ
Unclaimed rates. but al Philadelphia. 81. Louis
and many other points the market Is tS!h
This uuick absorption of all the money dis
lmr>cd is not strange, wtlrn The enormous H"-'''
tu..c Of commercial movements ~ roiisr'rr"h
Last week there were received from pAhthi"'s
l;OuU bales of cotton, costing S?,"'o,o "". ''A :
from farms about Si.'00,nO" III market Nai"e Ut
wheat corn, oats and barley against ll'.oo"
hogs packed last year there are now park"n aoo"'
30; 900 weekly, costing on the farm, over
81 Il 900. ana me WtNk I''Fip'S VI 'N''' ~
Chicago alone exceed ~ Oo0, 900 more in cost
or over $40 900 900 distributed in single week
~ tho farms for thcr few products on Of many.
but a small part ran return through channels Of
trad, for suur time In all kinds Of business
,hc an.rcgatc greatly exceeds THAT OF any pre-
viou, year c,carings at all clearing houses out
side Ncw-Nork for lour weeks OF August having
lccn about 81 ,Gs6,O0O000. against 81 .3SJ,0oo,-
600 last year. AN increase of FL per cent. rms
is in part because the average Of prices ranges
above per cent higher than a ycar ago, hut
there rcma.s Il large margin for increase in guam
,tics OF products TRANSFERRED The railroad earn
ings reported for three weeks of August aggregate
Slvg427I7, against Sls,53s.223 last year,
gain of 80 per cent. which represents charges
averaging rather lower than year AGO. These
data warrant the rough estimate that ont Of IN in
crras. Of about $500, 10000 in ayIucnts nude
weekly through banks about 81 j,C0o. 900 is due
10 increase in quantities transferred, about SoI-
600 900 more ~ advance in prices, and the bal
aIce 10 expansion in investments and specnations
Some scarcity of the circulating medium is not
=, range under such circumstances.
The general soundncsS Of trade Is indicated by
the relatively small number Of falurrs being less
than n year ago in importance and in number.
The large failure Of note brokers at Boston causes
supply other disturbing influences have greatly
abated. The Ncw.York tctrars alleged strike
makes no apprcrnblc difference In the movement
of products passcngrrs the strike in Chicago
stoci;yar,Is las been abandoned, and the brick
controversy here scarcely affects bnlding Mt oil rs
vet The coal trade is still depressed. because
attempts to restrict the output have reduced it,
only 800, 900 tons for the year to August 10 below
that Of tho previous year. and sales are said to
liz still at substantially the Nay schedule OF prices
The cotton manufacture has nlsO gained much
less from the attempted stoppagc OF mills than
was expected, but far more from the rapiil de-
cline in the price Of raw cotton which has been
SO cents during tile last month and haIf cent
during the last week Demand for wool Is Also
improved, though the finer qualities sell Mt con-
cessions. For dressed goods and mems woolens
of the coarscr sort orders are more satisfactory
The leather and boot and shoe industry continues
furnishing with less objection TO recent advances
in price.
The mills producing finished irJn and steel in
forms for use enjoy an exceptional demand and
are crowded with work, In some cases ut advance
ing prices. This Is not proof that the quantity Of
pig iron thus consumed has increased as much as
the output Of pig, which has been Oj4 900 tons,
or 20 l-2 per cent greater for half of this ycnr
than for the first half Of last year. 1t Is shown
that the production In Great Britain last year
was $4,000 tons less than for the census year In