New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-09
MONEY IND BUSINESS.


become more positive during the past week, Will e
Improvement in the general business of the coun-
try is decidedly more questionable. Stocks have
risen 81 20 per share, and for thirtyeight shares
the advance has averaged 50 6s per share, while
the rest of the list gained practically nothlng.
The fayorites in speculation included most OF tne
Grangers the Vanderbilts, the coal stocks and
some Southern securities which supposed to
be affected by Mr. Gould's Southern trip. jersey
Central rose 1-2 Manitoba and Pullman over
EACH Delaware and Hudson over 3, Southern
Pacific 1-2, Lake Shore, Omaha preferred ana
Mobile and Ohio from to each, and fifteen
Others from TO each. At the same time, wheat,
corn oats and petroleum have risen, so that the
average of speculative commodities is much higher,
though cotton is shade lower, as well as pro-
visions. These changes reflect the influence OF an
accumulation of idle money at speculative centres,
the demand in legitimate business meanwhile de-
clinng.
Business operations not as active as they
have been. While January annual settlements
for the business of last year were unquestionably
much larger than those of a year ago, the aggre-
rate of payments at all clearing houses outside
New-York in January was scarcely tenth OF l
per cent larger proving that there was a consid-
cradle decrease during that month in the volume
of new transactions, even measured In money.
The exchanges for last week, the first OF Febru-
ary also show q positive decrease Of IL per
cent In connection with these figures 1t must
be remembered that the level of prices In January
averaged almost 10 per cent higher than IN the
same month last year, and for the ilrst week oil
February 106 per cent higher. or necessity IL
follows that the volume of business measured In
quantities transferred has been fully 10 Per cent
smaller this year than last At some cites, notably
at Chicago there is a continual and large increase
over last year, partly because Of prices, Dut WIN
some increase in quantities also. But at most Oh
the Eastern cities and towns, at nearly all west
of Chicago this side the Rocky Mountains, except
Minneapolis and at most of the Southern cities,
business is falling behind last year.
The receipts of live stock at Chicago were
greater in January than in any previous month
in the history of that city. The movement of
cattle was not greater, but there was large in
crease in hogs. The receipts of wheat at all
interior cities for five weeks ending January 81
were 7,s42, O48 bushels, against 6,27S,597 for
the same week last year, and with an advance
of. % cents per bushel at NewYork, the difference
in value if the wheat were sold only once In
Western markets would be S3,500,0O0, or about
20 per cent. But of all grain the quantities re-
ceived at interior points for the same five weeks
were but 24149,4 AGO bushels. against 36,771,306
last wear n decrease of more than third. so
tho eastbound shipments of railroads from Chicago
for five weeks have been only 403,oO9 tons TINS
wear. against 574450 last year, decrease oil
about 80 per cent The movement OF cottoh
was larger than in the same month III any previous
wear. 072,10 bales coming in sight IN January
AGAINST 7sO.523 last year, while exports were
744945 bales. against 505,2Sl last year, Dut
ta,inCs of Northern splnners declined $4,000 bales
i'm January
nor cent greater than last year. and an increase
M about ; per cent appears in shipments OF DootS
and shoes from Boston But there has Deen
decrease in building and in movement of building
materials at most points, and in New-iork ana
KINGS County the number of buildings projected
in January was 400, against 572 last year, ana
the value $l,376,1SS, against S6,ool,3lo lIe
OUTPUT of iron has also decreased; Ill JANUARY
of last wear it was about l13,eOO tons weekly,
but il began this year only 500 TONS decreased
to not more than SO, 900 tons by January 10, ana
is supposed to be not much more now
Great increase in some branches OF business,
with great decrease i'll others, make The SITUATION
and prospects less clear than usual. Exports ana
imports at New-York are both falling much Delo"
last wears at present, though in January there
was a Slight increase III both The heavy move
ment of Gotten continues, and last weeks eX-
ports were 13O,22S bales. against 1883 last
year. receipts being 10000 bales smaller, and
ta,ings of Northern spnners $4,000 bales smaller,
tbc price falling Is Provisions are fairly main
tanned in price and January exports were about
n4;55 barrels of pork, against 29,3I3 last year,
Il 800 600 pounds bacon and ham, against Az
100000 last year, with slight increase in lard.
IN wheat and flour, exports In January were
slightly than last year, from Atlantic. ports
for five weeks equal to 5,4s3,740 bushels
wheat against 5,401 Sal last year; but OF corn
exports were only l,33b,0j7 bushels, against o.
467.6s1 last year. The price OF wheat has risen
IL cents in two weeks, of corn 1-2, and of
oats 3-s, and spectators act as If famine
were certain.
There has been no great change in the CHIEF
industries, but signs of improvement in many
are continually appearing Thus the landing Of
machinery at Bridgeport for new and large
manufacturing establishment transplanted bodily
from England, and the transplanting of another
TO the suburbs of Philadelphia and the beginning
of tin plate manufacture large scale at several
points, are among the recent effects of the new
tariff. Iron has not declined further, though the
market for all finished products is uncertain, and
rai-makcrs sell but little at the higher prices
demanded by the consolidation. There is an in
crease of production of pig by renewal Of work
at some furnaces in Alabama which had been
stopped by strike. but great strike of Councils
villo coke workers is expected to begin Tuesday
and to affect many furnaces
The loss of reserves and expansion of loans by
the New-York banks are natural incidents of re-
vival OF speculation. Since January the banks
have gained 81 100000 and the Treasury but
SO. 500, OOO but the Treasury holds Sl1, 100000
more silver and lesal-tender paper, and in spite
of its coinage owns 81 100000 less gold, which.
indicates considerable withdrawal of gold during
the past month in consequence of silver agitation