New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-08-04
Monty IND BTSINENS.

Adverse event. last week tested TIE Strength OF
the stock market severely. Under the circnm-
Stances il is ey idcnce of great inherent strength
flat the average price Of stocks, not including
trusts, declined only 81 cents per share. Taking
events in their logical order. the instruction at
Bucn0s Ayrcs caused heavy foreign selling OF
American securities, and the selling caused heavy
exports of gold which the large advance I'M silver
bullion made more easy, while the fear Of serious
injury 10 crops restricted the negotiation Of bills
against cXpOrtabc products. Meanwhile the
wcarying delay in the Senate Increased the APP
prchcnsion of a serious setback in some important
industries A market which stands mp under
revolution abroad, and killing drouth ana Aeha-
.Orial tOrpiditY at home has unusual strength
There was much reason for encouragement about
railroad prospects. The earnings reported Tor
eirhtv-siX ROADS in three weeks OF July aggre-
giltr 81 s.j13,s and show gain over last year
of 81 per cent. The agreement TO advance east
bound rates on articles which give the roads much
of their profits is expected 70 he worth S2O,OV'
daily 10 the companies, and there IS nope OF
further agreement in the near future. iet IL
crors are seriously Injured the earnings of rail
roads will feel the effect in due time. In present
influence. the controversy about the new bills-ot-
lading at the West. and the virtual D"ycott Dy
many shippcrs Of lines which make that change.
,ncratc 10 the disadvantage OF the Whole system.
Doubles, there will De peace before long, Dpt
meantime there are losses.
Real injury to crops by the hot and dry weather
within the past few weeks can no longer be
doubted. 5ut il j. still = question how far that
injury extends Until within a day or tWo' the
prospect for sping wheat has been exceptionally
good and the r,ost trustworthy estimates we're mat
Minnesota and the Daltotas would thrn ont lOO-
o0O 600 bushels Of wheat, Int now there are as
,,.clcS that in considers; Je part of the spring
wheat region the condition l. critical 'orh
seems 10 be seriously injured over an extended
area and oats are not turning ont as ""I as
WAS expected On the whole, the rise OF IA
cents in corn for the week. ana oi cents !"
oats appears to have some warrant III the sHuu-
ton. and had not wheat bcer previously adj
vonccd - about 81 without reason, MS piice also
m,irhi have risen. whereas il has declined Ia
c..rts ,or August and . cents for spot PORK
u,.,duc,s are generally stronger with the rise Ill
c,rr and Lors weaker because many farmers
orc scndin. 10 market having 10 prospect oil corn
enough for feeding.
Cotton does not yet appear TO have been IN
iurc1 and tie prospect Of a large Yield is good'
hut the price has been steadily h"ld ~ i -
r.uts for spot and 10 - cents for November
and December Large exports ar" nov 10 pe eN-
ncr,ed with the market in 50 uncertain STATE
and TIN, has I great influence on the supply OF
commercial bills oil is half a cent stronger ana
s,.ar UNCHANGED, but coffee half cent hlSher'
ria. import, continue cnormouS-l"r hNe WEEKS
cndine with Saturday exceeding last years pS
q p.r ccut-whilc exports oi merchandise from
Ncw.York for four weeks show decline oil -
prr cent Including flour, wheat exports from
Atlantic ports for the month exceed l'H' N'"i
bv only 100 900 bushels, and corn exports "l
9oa oo0 bushels The movement OF provisions
is fun. bat for IA month or more imports are likely
to oycrlmlaucc exports largely In JulN, the New
yorl, returns seem ro indicate an excess OF nearly
$50 600 900 In imports over exports 80 'h"' Eo'"
might naturally have been sent abroad eve" Il "o
securities had been sold.
As - 600. 600 of the gold exports occurred on ~
Saturday out of S6jtO.0,0 for the week. inv
whole counted in bank averages less than th'r'
! of their amount while the payment OF Slo"""'-
600 of bonds counted for nearly the entire ah"uh''
50 that the banks actually hold bnt niue more
reserve than they held week ago. Inc treas
| ury paid ont during the week S6.2ooo"o m"i'
than II took in, but the banks actually lost t"t
amount by exports and gained scarcely alNlhlH-
| from the interior. Slightly more demand Tor
money is seen at some interior cities, hut with
few exceptions the markets were wen s"ppl'"
and easy In ten days the issue against silver
| will begin and from present appearances l"'''
will be offerings OF monr bullion tnan the treas
| nry can buy. hut there is possibility tha' u"
! pricr may not be deemed acceptable. Inc F'
| ouircment 10 purchase 100000 ounces "l'u'"
a month does not compel purchases uI'l 'u'
| month has nearly ended, II the Secretary """
reason 10 loo! tor more satisfactory prices ""'
| il VIII naturally be his wish 10 make i" law
rlcvc p,cssnrc rs far as possible Against "po'
-. 0Oo. 600 notes which may he issue" "'"i" Wv
first month, LARGER amount OF goI" mas "'''''
! gone ont. ,a,.s,
Some industries are hcstating. mhch "'""'
the crop prospects appear doubtful. an" n'"' :, ,
| because delay renders the passage oi 'h' l"''' ~
| mara uncertain In the wool market ana nl''''''
urc deorpssion is increased 10y this unccgolll' '''
.,lcs are usually at buyers terms liideS le"'"''
and boots and shoes are all strong an" h'''
| hiobcr and shipmcnts of boots and shoes rom
| po.t,,u ia Aupust | were 2.Oj3,363 eases against
| + oto IG7 last YEAR gain of SIN per o'hV ioi
! ,io wear and eighty per cent for the drcaoe' Inc
mario, far nic-iron is ,ingularly steady. most "i
| ho lots an which holders were impatient 10 real
,o ..o,r,i,., "a have been worked of, but further
.trcrctb is Gained from the improving demand LOT
potc structural and Sheet iron ana LOT p"IS' sum-
| cotton mills are sispcnding IN order I" c"r'aii
| nroduction the material being too dear lor -oous'
| rut in the main industries are fairly prosperous,
| and cvchonccs outside Ncw-Iork contlrde To
! exceed last wears by over ten per cent with
| regularity which is surprislhS'
Mexico is blessed with two foreign representa-
s..l tNf Fs .