New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-11
MONEY! AND Il USINESS.


nm ;te agriculture that the serious injury to
| oro,s which seems now beyond doubt, has an
iunortant bearing upon the commercial ana lu-
dustrial future Very rarely has tue condition ol
growing crops declined 50 much ~ Il single month
as the Government report represents IT. d. "o-
clining in July. for the report shows IdA III
corn from 043 July TO 1873 August ], IN spring
wheat from GA TO s3.2, in oats from SIS 10 'Ol'
in barley from ss.3 to e2.s, and III potatoes from
ol.7 TO IA These changes mean serious loss
70 farmers and 10 the country, and whie 'he
condition OF spring wheat Is stu shadc Hlb"cI
than 10 was last year. the report appears 10 lhul-
cate a decrease Of 100000 bushels IN S1cIu Oh
COR, and So OOO. 900 bushels in oats on account OF
difference in condition, which Is onJ IL part COM
nensoted by an increase III acreage. Cotton de-
clincd but little, and is stall shade above IaS'
years condition, promising very large crop
But the loss in other crops, II not exaggerated III
reports must surely be felt hereafter The
Bureau accounts refer 80 conditions August |, ana
| there is vet 10 be considered a further injury by
| fen DAYS more of similar weather According
70 SATURDAYS dispatches rains have come III Iowa
and improvement IS reported IN some other States
but tie accounts are generally unfavorabe. rs
70 winter wheat, some State reports are a Ettie
more favorable than those OF a month ago.
10 the loss caused by damage 10 crops. there
is added a strike on the New-lork Central and
West shore. which still threatens 10 extend TO
other railroads u the Vanderbilt system. Inc IN
terruption of freight traffic IS likely TO be some
what important, unless the companies succeed
quickly IN restoring the regular move
ment 1t IS evidence OF the admIaoc
reputation OF this system OF roads, as
respects It's dealings with employees, that no one
believed tie threatened strike would come, and
3 faff gf
organization as the Locomotive Brotherhood had
been the one - decide The effect in the stock
1nlrxct was % considerable decline in stocks i'm
prIiatcly affected which in connection with the
I injury 10 crops brought down the average price
| Of railroad stocks ~ 80 per share for the week.
| From the highest point, July ,, the decline hs
now been e 30 per share. The reported railway
earnings continue large, III railroads for July
showing n gain Of S.33 per cent over last year.
but tie effects OF Tie boycott on account OF the
new h,ll of ladrg are hardly felt AZ all as vet IN
the reports and the recent advance in rates al the
West does not appear from recent dispatches 70
ic a> effective as WAS expected.
cold exports have not continued. and Of the
$4,000. 600 ordered for shipment Wednesday only
port appears to have been actually shipped, the
rate Of interest for money having bcen sharply
advanced. while tie fall in premium on gold az
Bucnos Ayrcs and the reconstruction of the Ar
ceutinc Government tend 10 diminish the foreign
/ demand al least for the present. How the ship
mcnts OF gold 10 that country VIII ultimately be
affected is not set clear. But the state OF foreign
trade docs not appear TO improve, for the imports
! last week wcr' almost 80 per cent greater than
for the corresponding week last year, while cA-
uorts for the latest week showed "a heavy decline.
The exports Of cotton. though insI-niican, at this
season. are as large as they were a year ago, ami
those Of wheat are considerably larger und YET
the shrinkagc ln value Of all exports from New
York impllcs "a great excess OF imports over cN-
norris The loss Of $4,000, 1000 during the week
from the money held by the Ncw-ior banks and
the Treasury in part 10 the interior, the Treas
my having paid ont $1,000 more than II took
iu But the exports of gold made great differ
cucc. and the Western demand for moving the
crops seems to have begun in earnest.
The state of business reflects no unfayorablc III
eucnccs As vet The increase IN ccarings at
cities outside New-York for seven months cndin;
with July was 1875 per cent III comparison WITH
last year. for thc month Of July ll.2 per cent,
and for the first week of August it appears to
have been over 20 per cent The drain of money
10 the interior indicates more activity in bUsl-
ness, In the great industries work is going
ot q rate rarely surpassed Though the pig iron
OUTPUT is unprecedented for the season, the de-
mand for manufactured products of many kinds
is so large as to keep prices nearly steady, the
structural plate and sheet mills being busy. Rails
are not now selling largely, but the mills have
orders for some time ahead. The cotton mills
are not particularly active, the price of tie mate
rial being higher than manufacturers believe can
he sustained, but the aggregate consumption Tor
the crop year thus far is little above last years
and although many Of the print cloth works have
suspended production, the output lust week was
10000 pieces, against deliveries of 1871 600.
There were larger sales of wool than have rec Q
seen for some time, though at prices which shor
a disposition OF holders 10 meet the needs OF
manufacturers But the demand for goods is
full only for the coarser and cheaper grades, and
the supply OF foreign gOous is enormous The
boot and shoe industry is tourshing with higher
prices for products though perhaps not set quite
enough 10 compensate for the advance in hides
aud leather
The course of prices is naturally upward, with
q prevailing belief that crops are to he short Not
only are grains higher and lard and hoes in sym
pathy with corn, but potatoes and apples are
dcarcr, and petroleum is rising Coffee has a 50
been advanced aud some Grades of refined sugar.
nut cotton rs STEADY. Wheat rose list week ~
cents for spot corn Il and oats nearly > cents,
although railroad reports almost unanimously
affirm that the current accounts of injury are en-
aggcratcd This may be true, and yet the dam
age represented in the Government reports would
suffice TO Justify considerable difference in
prices The market for securities can never b.
expected 10 advance much cgitimatcy when
short crops make staple products dcarcr.
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People who are counting ON Governor Hills