New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-05
MONEY AND BUSINESS.

After week of unusual excitement anu nuc'"d-
tons in stocks the market closed more hopeIul
and buoyant than week ago. Yet some unces-
tointv is felt. as some then existed, whether
prolonged advance is to come, and the dlsposr'loh
to discriminate more sharply between stocks Is
closely watched. with reason During the nrst
mart of last week the market was depressed and
prices of stocks dropped on the average % Va
nor share to the lowest point on Friday morning
Then came a recovery so sharp that the close on
Saturday was 81 % per share higher and only
q cents per share lower than the close for the
previous week Purely speculative influences &C
count for most OF these changes first. the Wig
orous and successful onslaught Of those who had
sold. and. second. their haste TO get back STOCKS
when the recovery in price began. But they were
greatly helped in the decline by the passage OF
a dividend by the Missouri Pacific and by I'M
favorable accounts of the Rock Island and some
other Western roads, and the recovery was helped
by the large receipts of gold from Europe.
APPREHENSION about the money market has been
ont OF the way for weeks. but the heavy dis
bursements Of the Treasury, which lifted the mar
lxet so strongly in the first half OF september, nave
not continued. 1t appears that the actual cir
culation outside the Treasury was increased IN
September $24,550,003, having risen OCTOBER
70 81 500. 6S2. O36 or 1913 75 for each inhabtant,
mainly because of the redemption "a IL per
cents though some arrivals OF gold aided. Last
week the Treasury took in a little more money
than IL paid out and with customs receipts
S7,014, 900 less in September than last year ana
total receipts 81 sO3 900 less. it is not strange
if some period of recuperation follows the dis
bursement for bonds. But the gold imports last
week were large, amounting to $5,6OO,OOo. and
those exceeded the Withdrawals OF money from the
banks for the interior, which were but $4,000, OO0
AS more gold is on the way and dispatches show
that Western and Southern money markets are
generally easier while the demand for commercial
accommodations has undeniably been lighter than
usual for the season. the Street dsmlsses from
its mind the fear OF monetary pressure.
Wheat receipts at the West were enormous, ex-
ceedinc 100000 bushels for the week, though
not quite up to the 100000 bushels for the pre-
yious week In some localities wheat is moving
slowly because of the weather and the pressure Of
other farm work, and probably the hope of higher
prices has some influence. But the price has adj
vanced but / cent during the past week, and eX-
ports are smaller than of late For four
weeks ending September %, Atlantic exports were
equivalent -four included, TO 20,Sl2,726 bushels,
against 1881 ,o26 last year. The Pacific move
ment is lighter than year ago, when Atlantic
markets were handcuifed by speculation. Corn
for early delivery was ga cents dearer, and oats
l cent higher, but there is mo longer doubt that
an abundant supply Of both will be forthcoming.
Cotton has receded shade during the past
week in part because the export demand continues
much below that of last year, which is not strange
in view of the great stocks carried abroad. In
September receipts from plantations were $4,000
bales less than last year, but exports were $4,000
bales less only 2ol ,s05 against 355,6s5 bales in
ic,.- Taxi If in
this country were also $4,000 bales less and for
October thus far a similar decrease in foreign and
domestic demand appears. While uncertainty
lasts regarding the extent Of injury to cotton.
traders are apt to remember the deception last
wear which so long kept the price above 10 cents.
though an enormous crop was coming forward.
Coffee was also depressed in speculation no less
than IA cents, and raw sugar is 1-s lower.
No signs Of threatened disturbance can be per-
ceived in the industrial world, for though the de-
mand for lightweight woollens is said to be thus
far the smallest known for many Seasons, and a
large number of looms are idle, the great demand
for heavyweight illustrates the disposition of
clothiers not to anticipate the season as much as
they have done heretofore, nor TO take such large
risks until the prevailing notions OF consumers
have been more clearly shown. The improve
ment in qualities of dress goods is especially
remarked and the demand is large though the
market for knit goods has been retarded by the
warm weather, and carpets are comparatively
dull Cottons are firm, and large fall trade is
anticipated. The iron business shows less pressure
to sell pgron, and concessions in price are now
rare, but the advance in which many have had
faith does not yet appear. There is somewhat
more demand for rails, and this is likely to i'm
prove il the market for stocks remains active and
strong. Structural mills are us yet well en-