New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-05-12

million bushels for the SIN weeks ehulhs may w.
but the receipts have increased as much, ana Ihe
week records no advance in the price. OatS are
nearly n cent stronger, but pork products have
not advanced Cotton also has not risen, though
receipts have declined more than exports, for
crop prospects are fair, and twelve cents for mid
ding uplands is the highest price for many years
Petroleum was shade stronger, but coffee fell
fraction. and raw and refined sugar fell an eighth
Outside of speculative markets, the tendency
NJ nrces has been toward lower level, butter
potatoes. apples and some other farm products
weakening as summer approaches Coal is firm
in tone but not really advanced in price, while
iron is weakened by the official announcement
of excessive production, rails and many forms
of manufactured iron being quoted lower. PRINT
cloths are shade stronger, but the great auction
sales of Hannels resulted in prices about per
cent below those of last year. The general level
of prices Is not quite as high now it was
January |. having scarcely recovered, under all
the excitement about silver and about partial
loss Of wheat and cotton crops, as much as il had
lost in January and February. A material part
of the gain has been due TO advances in wheat
ami cotton. leaving but scanty result in prices
thus far from the silver speculation.
The stock market continues TO boom just if
There we're no occasion for fluctuations or doubts
average
q OF nor share. and has advanced IS per SHARE
or nearly 10 per cent since the last week in
February 1t is now 81 per share, or nearly /
pcr cent higher than year ago. Earnings sup
ply fair reason for such an Improvement; in
April the earnings OF 80 roads according TO e The
Financial Chronicle" we're per mile operated
1896, against 1857 last year, gain of lo.9 per
cent. Cutting ia rates and quarrcls Of managers
and even th, reduction just made on lake routes.
MIGHT be laughed AZ if they certain TO pro-
duce no more disastrous consequences than these,
but the truth is that the returns made thus far do
not vet reflect either Gle competition Of water
routes or the latest reductions in rail rates. Less
cheering reports must be looked for unless man
oocrs contrivc to adjust their differences. \
feature of great announcement during the past
week has been tie amlcablc settlement in many
cases between employers and la5orers. The num-
Der Of strikes and OF workers engaged therein
has been large in May, the latter exceeding 3D.
600. but results have been reached in most cases
without much delay, and there is now great
reason TO hope that the industries Of the country
will meet no serious interruption through the do
mand for eight hours.
The money markets have not been much dis
turbed though higher than for the previous week,
but New-York banks lost over half their surplus
reserve. notwithstanding they received moderate
sum. perhaps half a million. from the interior
The Treasury held Saturday S2000,000 more
than il held the week before. while the banks had
lost only 81 sos, 200, but the purchases Of bonds.
with premiums paid, exceeded 81 900, 900. and
there is confidence that more bonds will be forth
coming if the market stiicns. Exports for the
first week of May were larger and imports smaller
than for the corresponding week Of last year. thus
reversing the experience Of April, but the excess
Of merchandise imports was SIC 100000 in May
Of last year. and the net exports of specie were
over 81 j,OOO.OG0. II will be readily inferred
that change in the speculative temper might
cause a heavy outgo Of gold. and the same result
might be produced in existing conditions by the
passage Of a silver bill deemed dangerous by those
who control large amounts Of money. But the
disposition disclosed in monetary movements thus
far is one OF great confidence that Congress Will
act wisely. will give permanent help 10 Industries
by the tarid bill and will so shape the silver bill
as to realize benefits without overbaancing evils