New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-04-07
MONEY md BUSINESS.
West.

MONEY md BUSINESS
| last week 8. 500. 900 went out of the Treasury
and the Ncw-YorIl banks and into the country.
This WAS following a similar loss of S6,400,O0O
in the four weeks ending March 30, and, after al
! lowancc for temporary shipments to make April
settlements, indicates a greater interior demand
| than had been expected at this season. AT the
same time scarcity of commercial bills has caused
sterling exchange TO advance and the same peo-
pie who were recently talking OF the possibilities
of cold imports are considering whether exports
81 gold can be avcrtcd. Money tends toward a
lower rate at London, hut the Bank of England
and the Bank of Germany lost several millions
last week If uncasincss is caused in Europe by
Rismarck's retirement and Russian disturbances,
il might, not long ago, have been expected to
| induce larger investments in American securities
Bat at present the disagreement of railroads APP
pears to render these securities less attractive
than for some time past, Notwithstanding the
large increase in earnings, which have helped an
advance of ~ cents per share during the last
week in the average price of stocks
Until last week there had been a disposition
TO make liphf Of reported dsagrccmcnts because
earnings continued heavy. Bat the formal no.
tcc given 10y the Missouri Pacific that it would
not take part in further rate arrangements as
long rs the Union Pacific and the Northwestern
combination existed. and the announcement that
The Manitoba. controlling line Of steamships on
the lakes. would presently make through rates
Of its own between the East and far Western
points do not strengthen confidence that contro-
vcrsics and losses will lie avoided Earnings for
cighty-ihrcc roads two weeks, cghty-scvcn the
third and twenir six the fourth week Of March
aggregate S2O.7G51"7. against 81 .ojl 1858 last
year. n gain of o. per cent, and there is nearly
q month yet to come before wafer navigation VIII
be- felt Bat the disputes of which the last week
has given tangible evidence may take active
form Al any time The interruptions and losses
caused 10y floods in thc Mississippi Valley also APP
pear more important than they recently seemed
90 he The anthracite coal traffic las not inn
proved and the sharp cut in prices at'which
southern iron has been offered is a sign that per-
mancnt prosperity Of some works i'm that region
has yet 10 be- insured
Tie iron market is unsettled and again lower,
Southern No. ! being quoted as low as $40 % in
Ncw-Nork, which is said 70 net $l2 M furnaces.
and 70 he on n parity with prices offered at the
West \ further fall is. reported at Pitisburg,
but Philadelphia accounts mention that IN" recent
decline has induced more buying. The new and
large Souihcrr wor's are trying 70 find a market
for thcir iron. while tie aggregate consumption
does not appear ~ large rs last fall. and was then
]
ton Some improvement j., seen in bar iron aud
nails bat rails appear weaker I'm the wool trade
there were seen little more buying and better
feeling. when other failure of commission house
here and Of a nil in Pennsylvania caused dis
hcartcnmcrt The average OF prices for l0l quail
ties Of wool. which was 26 IL cents in the middle
If last Julv. is now 80 pr cent. decline Of
nearly per cent. and neither growers, dealers or
manufacturers have derived any benefit from the
excessive advance The cotton manufacture shows
the effects of tie advance IN law cotton. coupled
with slight decline IN print cloths ard some
other goods and spnncrs takinss for two months
have fallen behind last years over 20 per cert
i'm February and - per cent in March, The boot
and shoe trade continues prosperous. and the
leather market does not seem affected hy dis
cus,ions of 'hc proposed duty on hides.
The speculative markets have been compare
lively inactive. bui on tie Who'll" stronger though
wheat is shade weaker for cash exports. having
fallen oG last wcc, 1hc March returns showed
shipments IL wheat and -four from Atlantic ports
equal To- 5.,55.le, bushels. against -'ll,'''
last year. hut of corn the increase WIS lar-sr
l3Ieo.aso bushels, against ,.e69.55l last year,
and set covering Of speculative sale, caused an
advance of T.. cents with over hale cent
in oats Pork has been substantially unchanged
in price. and cotton also. notwithstanding the
decrease in exports 10 lee.1cO bale, IN March.
AGAINST a3r. ,,3 last year. Oi has fallen again
. J.. cents. and sugar both rtw and ncincd,
is i.1G lower But while speculation is not active.
the volume OF other business Is unqursiionahy
GREATER than ever. payments through bank clear
ing houses outside Ncw-lork having been %
per cent greater than i'm ->9 for tie first quarter
Of the year. and about - r.r cent greater than
| three years ago. Owing 10 thc occurrence of
Good Friday. the returns for last week fall below
those Of the corresponding wocl, last wear.
Tie future Of business depends. To greater
extent than was supposed short time ago, upon
monetary considerations H. the reasons what
they may il is plain that the interior demand
threatens 10 leave this city and The Treasury
without ample reserves. either for any possible
drain bv exports or for the customary demands
next fall. Return of money TO this centre Is eN-
rccfcd after this date. but with equal reason
some exports Of gold during the next four months
| Returns show that the excess Of merchandise cN-
ports in March was not rs large as was expected,
and in April balance on the other side Is prob
able If foreigners should invest heavily in
| American securities the outlook would be more
| clear \ recent compilation shows that interest
| paid on $50 .uOO.0DO bonds this year has been
SeO451 SOL and dividends on $685., 40 stocks
| have been Sll.l22,0s9, rates not high III COM
harrison with those paid few years ago. State
and Interstate laws, and too rapid construction
Of competing lines, have rot increased railroad
| proSpcrty and while better state of things Is
uromiscd as result of the recent Supreme Court
decision it, has not begun rs yet
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| Il, t. "a much caeicr to forgive big man than