New-York tribune., 1890-05-05
,lnNEY IND BUSINESS.


,..oo,- irstood of a year. had been realized al
ready Special causes help very greatly, and
a,,o,o tbcse are the continued drouth and injury
60 ubcot in the Northwest and the exceptional
,oi, and floods and injury 10 cotton in the South
,rost IIo,v much of the boom in wheat is due
o., dFoutb and how much 10 mere speculation it
is of coirse. impossible to tell, but prices danced
or Saturday in a particularly lively way at the
Wost The flood in the Mississippi Valley scarcely
ob,.cs nj all and continued rains doing in
;urv oven where the overflow has not reached,
nI,ntinr having been remarkably delayed accord
inc to such reports as are available The eX-
rorts Of cotton are small for the month Of April
only about two-thirds Of last years, the decrease
in rcccipts having been much smaller The guam
ttv already in sight is ,j9i bales but it Is
NOT IMAGINED that scarcity will be felt during
the rest Of this crop year; the question is how
prccs will be affected if there comes a short
Weld at n time when the world is using cotton
50 largely that more than 100000 bales have
been taken by the market in eight months, and
of late at exceptionally high prices. Fall River
mills are reporting fair dividends though in many
cases not aS large they were previously pay
ing. but these are not derived from profits in
buying and working up cotton which cost Il
cents for middling uplands. Those who bought
wisely are now rcaping their reward
The movement of wheat continues larger than
IL was last YER. but il is needful always 70 re-
member that the exports in February, March
and April Of last year were phenomcnally small,
and the present movement is scarcely up 10 the
average of other recent years. The latest reports
published in regard to exports were based upon
purchases made when wheat much cheaper
than it is now In four weeks from Atlantic
.f.ol, 81. l.l
against 3.353,644 last year, but lately the pur-
chases for export have dwnded TO insignihcance
This is not surprising, since the advance in the
official prices for the week was 4 l-2 cents, while
. II 10 cents more was paid on the curb after
the Produce Exchange closed its quotations on
Saturday. But the receipts of wheat and -four
AT Western points continue heavy and show, in
fact, greater increase than the exports As the
end of the crop year approaches, if there is pros
pcct Of short crop. the quantity I'm sight will hc
closely studied In order 10 determine whether the
surplus from past years is as large as has been
estimated, i0r if so prices above 81 bushcl will
hardly be lasting
In other speculative markets there has been
general advance, corn rising is cents. oats
> cents, cotton a sixteenth, pork % cents per
barrel, lard sixteenth. and oil half N cent.
Hogs are quarter OF a cent lower thar week
ago. granulatcd sugar sixteenth lower. without
change In raw sugar and tin fell - cents per
100 pounds rcactLrg from the speculative advance
abroad. But in general the speculative markets
incline TO climb. not merely because a silver bill
is expected 10 furnish more money, but also be-
cause the cight-hOur agitation is by many deemed
certain to establish higher range. both for
wages and for the cost OF productiOn and conse
qurnty for products Undoubtedly things Will cost
l. -. II.
cut down without any dminution in wages paid.
but tire shrinkagc in demand for products and
for labor may in that compel a lower rate
Of wages after time, and meanwhile the eight
hour movement does not affect agriculture. nor
directly most of the great industries. In the iron
industry prices once more supposed 10 have
reached bottom a further decline having been
observed at PttSburg, but not In Eastern markets,
though blocks of Southern products continue
10 be- offered at low figures. 1t Is surprising 10
notice too how many new works and furnaces
are reported projected or approaching compile
tion every week, as if the consumption were
certain TO expand indefinitely. No improvement
is seen in the woollcn goods trade as yet, but
little more buying of wool. both at Boston and
al Philadelphia, apparently because the reports Of
prices charged for the new clip IN southwestern
States do not encourage longer waiting Tor those
who are compelled TO buy at all. but there is
more talk of closing many mills than there has
been at any previous time for years.
The railroad interest has not Yet reached its
promied land oil peaceful settlement. though
strong men are said TO he at work in that
direction with great earnrstness and much hope
one is tempted to say every week that. If all
wars turn out the one this year has up 10
do,c war might be a good thing to prolong. for
- l.. a. 81, l,t,.l ,aslg
Of April show an increase Of II IL per cent over
last wear. and the reports for the three weeks
shov a nain OF l3 u per cent. Last year earn
inos in April were not particularly large. 1t Is
trne. but the Increase is exceptional 80 the
clearinps of banks outside New-lorI show
great gain for last week. "A per cent at Boston.
phil,Irlphia and Chicago taken together and at
other cities about per cent but the Transactions
lost wear were materially reduced by the Cen
tenninl holidays. The money markets have bech
pcculiarly undistmbcd. New-Yorll banks having
! lost =, 900 for the week, and the United States
Treasury having lost only 100000. But the
sbrinkagc in exports of domestic products from
this city amounts for four weeks of Aprl To Is
per o,nt, while in five weeks ending with Satur-
dav imports at New-iork gained l6.7 per cent.
There has been much smaller gain in all customs
recripts only per cent. that the rise III I'M
ports may have been much at the expense OF
other cities In the stock market there has Deeh
some realizing, but undated strength. and prices
mounted SO rapidly that the average is ~ Is
bighcr than IA week ago. The rise has already
averaged S3 90 in three weeks but reports OF for
elm buying are constant and sustained by the
course Of foreign exchange.
All persons afflicted with obesity Will be IN
tercsted to hear of the surgical operation when
has lust been performed at Paris upon NJ. liro-