New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-07-07
extenuating circumstances 1t will be interest
ing TO watch the outcome Of the trial.
MONEY AND BUSINESS.


either the bank statement or the Treasury state
ment. The Treasury report showed an increase
for the week Of 5000 900 in cash held, whereas II
is certain that after checks sent out have All been
reclsoned there will be found considerable de-
crease The bank statement ineNpllcabe
in any case but more absurd standing by ltScli
than if taken in connection with apparent mis-
representations in the previous weeks statement
1t declared a decrease of 5000 900 in the reserves,
whereas Treasury disbursements and returns from
the interior probably caused some increase mus
for once, the official statements are DOM SUD
stantially va.ueless, and the prevailing sense Vi
ease and the increase of 81 ,500OO in loans TELL
the trucr story. Easy money will prevail lor
time until the demand for crop movement sets
in bnt this is now so near AZ hand that no I'M
portant rise in stocks or commodities can he
safely based upon monetary supplies, in view oi
the fact that the bank surplus is not large enough
10 stand any considerable Withdrawals pos
sibiIity of further foreign outsoes IS to ne con-
sidercd also. but it is less probable because eX-
changes against forthcoming products will begh
TO he available Dispatches show, moreover, that
foreign as well as domestic money markets are
waiting TO know what is to he done about the
silver bill. and the continued disagreement az
Washington does not strengthen the idea that gold
is to no speedily abolished from monetary use in
this country.
In other respects also, the business outlook
depends greatly upon the Senate. If It's majority
had acted unitcdy TO do a sensible thlnS, ana
to do it promptly, monetary uncertainties wou!"
have been removed weeks ago, and tariii uncef-
taintcs as we'll Whether more complete agree
ncnt may result in prompt action on tic hrii
this week is not certain, and consequently the
prospects Of many departments of industry ana
trade are much oycrcrowdcd. 80 much tme mas
already been lost that the markets have TO"
tecn crowded with foreign goods OF competing
Limbs which will hardly he cleared out of the
way until it is too late 10 place fabrics from tilS
years cp oF wool. Sales Of the material haV"
been slender with weakening prices. Iron ana
steel appear less weak than "A fortnight ago,
notwithstanding the prospective addition OF some
large furnaces to the producing force. In build
np materials prices and the demand are sur
prisinelv sustained, and that great department
Of trade is little affected by tariff possibilities.
Hides and leather are firm. and tie prospect IN
boots and shoes is excellent. Chemicals, came"
goods and many agricultural products are maze
less active by the prevailing uncertainty which
Influences other trades indirectly. Bat IN most
Of these auck improvement would appear if II
were evident that TIE Senate would speedily pass
the pending bill
Speculation in products has been less active, Tor
crop prospects grow more satisfactory, ana mold
ers Of large stocks sustain prices IN the desperate
hone that some accident may yet help them.
Latest accounts as TO cotton are altogether more
favorable. and exports are falling much behind
las, years hot weather in the Northwest has
brought forward wheat so rapidly that heavy
Weld Of spring is expected. and even in winter
wheat regions the outcome is likely 10 exceed eN-
fro,u Atlantic
were slightly below last years, -four included
but in corn there was an increase of 10 per cent
Raw sugar has been weaker, but refined obstl-
natclv held. and pork products have heen COM
paratiyely inactive, whil' cattle are coming Tor
ward largely, depressing prices.
The market for securities has been strong WIN
greater ease in money, and because OF the demand
70 invest funds from dividends and interest Inc
,,,cregotc of such disbursements, including S.
400 ooo bv the Government has been about SlOo
600 600 exceeding that of last July by 20 per
cent. but manufacturing dividends are not mere
included in which there has been some decrease
nor commercial profits, which have been narrower
than usual The half-yearly statement ny the
Mercantile Agency shows fewer failures 10y Zl''
or nor cont than in the first half Of 1889.
though on account of heavy failures IN this city
the aggregate Of liabilities is almost as great.
|
smaller But in Canada failures increase ia IN
number and more than 80 per cent in amount OF
lia biitics The woollcn, clothing and other
branches Of trade which were most seriously
affected bv two consecutive mild winters have
csconcd from the test with lighter losses thus
far than feared
The average price % stocks has risen during the
last week about Gfty-cight cents per share. loans
being more liberal and the alliance between Inc
Atchison and Missouri Pacific, and reports OF
settlement as 10 freight rates, having induced the
hone that controllers Of large properties were
! ready for an advance. Earnings encourage III
vcstors those reported for June thus far eN-
cccdinr last years by 1Ol per cent. But new
securities listed during the first half Of the year
have amounted 10 $l650oo,OOo, against
Sl66. 600 900 last year. excluding all old issues
recently listed, issues for retirement OF other
| securities The active manufacture OF ponds ana
stocks has threatened fit of indigestion, and
| when the capitalization of host OF industrial
enterprises is added, and the application OF
enormous sums TO building operations, IT seems
surprising that demands for new capital are still
50 literally met
The volume Of trade shown by Clearing House
statements exceeds by III per cent that of last
wear for June outside New-York. and by IL per
cent that of six months Of last year. The growth
Of business thus indicated compares fairly win
the increase in railroad earnings. Prices are now
shade higher than year ago, but for the halt-
wear average somewhat lower. so that equal pay
ments imply n larger movement in quantities.
| He must lnGccd be- hardened pcSsmiSt who
| could not find something good To say about the
| climate Of New-York for the last two days. The
Fourth could not he pronounced fair dav-oniy