New-York tribune., 1890-06-30
MONEY AND BUSINESS.

Though gold exports have been temporarily
arrested by the annual accounting of the Treas
ury. and the banks have galned nearly 5000 900
during the week. and interior money lna rkets are
all fairly supplied, and crop prospects have been
improved hj The hot weather NJ The West. vet
there II n Srpsc of encouragement in financial
circles. This is partly because industrial pros
poets affected rs the Tariff bill are REGARDED
with less coniidcuc" aud are at any rate dilnmed
h. Cclay. md partly because speculative anticpa-
tins rc2nri'g the effect, of free silver coiung,
are swept ~ iv the vote IN the House last
week. vh.r there comes rs yet no assurance
that safe measure # expansion will he adopted
by both houses. Farm uncertainty affects certain
# the larger branches OF manufactures AMI in
directly many others. Weary negotiations for
restoration OF rail rates bring no actual settle
m"nt. While long time contracts are being made
at low rates by the Canadian and some United
states lines, which exhibit the misclicvous ef-
f o. of competition under the unfair conditions
created by the Interstate Commerce act
Agriculture has been much encouraged by the
prospects ol hIgler duties on WOOL and on products
grown near the scaboard and the Canadian border
The wool manufacturer became decidedly hopeful
when the Mckinney bill passed the House. and
the iron manufacture was led to expect a greatly
increased demand in consequence of duties on lin
plates and other articles To these and many
other industries delay Of action is serious matter
as the season within which products marketed
is rapidly passing, ami large foreign imports are
crowding the marSrt Efforts for reciprocity
are by many supp cd to render tie passage OF
any tarn bill uncertain, and the consequences are
felt in many markets. Iron has been weaker at
Pittsburg. and oncn at lower figures at the East;
wool is weaker IN Eastern markets. and conccs-
sions reported in he interior. and there are
published accounts Of the closing OF many knit
goods and flannel mills. The arrivals of drygoods
at New-Nork from Europe have been 80 per cent
larger in June than in the same month last year,
and another month will add TO the stocks which
will have to he ',arcd of before the hralthful
effects of a chang of duty can he realized.
The imports Al Nr,- York during four weeks
have exceeded those II last year by IS per cent,
or S6,3o0,0o0. while the exports for that port
have bern but SiOo.ooO larger than last year. or
81 per cent. II tire movement elsewhere had been
in like proportion imports would exceed exports
for the month more than $4,000. 900, So that
in any case exports Of sece arc not unreasonable.
Another item is that in June the imports of silver
at New-lork slightly exceeded the exports, which
makes difference of nearly $4,000, 900 in the
amount of gold required 10 settle balances for
the month. Money markets not disturbed,
because return of currency from the interior dur
ing the week has added 100000 to the stock
held by the banks and 81 800, 600 to the amount
held by the Treasury, and after July heavy dis
burscmcnts will occur But the banks have not |
"A large reserve with which hcon the last half !
of the year
Against these unfavorabc considerations are |
to be placed some decidedly encouraging facts |
The payments through all clearing houses out
side Ncw-York in the month of June were 1871 |
per cent greater than last year, about 10 per
cent greater AT Boston, Philadelphia and Chicago,
and o per cent at all other paccs.s For the half
year, the increase has been about rs per cent
The railroads reported by The Financial Chron-