New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-21
MONEY and BUSINESS.


and remarkably favorable that the usual minute
comparisons seem tame. The hottest weather
known for many years in portions of the West
has placed a great part of the corn crop beyond
DANGER If it was true, as Of the crop-re
porters estimated, that quarter Of the corn, or
100000, 900 bushels, yet remained in danger
n week ago, the weeks blazing sun has probably
placed half that quarter, or Sl60,000,0OO worth
of corn, beyond harms reach, and according to
All accounts. another such week will ensure one
Of the largest crops ever grown. Another silly
appeal by the Alliance to farmers urged them 10
keep back their wheat until 1t should sell at
81 so. but the weeks receipts at Western points
have been TIN largest yet, close to s,OOO,OOo
bushels To all this must be added the break
in foreign exchanges under heavy foreign. buy
inc of American stocks, and the resulting ship
ments of gold, estimated at $4,OoO,OOO, to New
York 1t would be strange if the markets were
not buoyant under such circumstances, ana The
prophets of evil have gone into seclusion'
The premium placed on gold bars and coin Dy
the banks of England and France might have de
layed sbipments of the precious metal for a time
if European investors and spectators had not
rushed in to get some of the only securities in
the world which now seem certain to appreciate
in real value. With heavy crops assured and
greot activity of business the railroads Of this
country are sure TO enlarge their earnings materi
alIv while the payment of debts by Western farm
ers sends American investors into the market with
hundreds Of millions to be placed. Unloading by
Iorce onerators had checked the upward move
ment in stocks week ago, but when the per-
sistent buying by American investors was seen
foreign capitalists lost hope OF getting STOCKS ao
lower prices, and rush Of buying came whlch
lifted the average price 81 67 for the week. The
speculative reaction, supposed to be due more tlhn
n week ago. can hardly be expected to come while
the money of two continents is competing for
the securities which pay most surely and have the
best prospect of advance current Reports Vi
eorninos are also good but the market has
gone beyond current earnings, and Is at present
reckoning the profits of transportation during
the next nine months
Western receipts of wheat last week were
ro52112 bushels, against 2613,376 for the same
week last wear. and for three weeks of September
tho Western receipts have been 22,50s,7O2 bush
els. against 1852 .96s for the same weeks last year
Such have been the results thus far OF the frantic
efforts of Alliance leaders to help the spectators
in wheat But the foreign demand was so revived
by the decline in price, TO about 81 little more
than week ago. Tint the exports have risen again.
Amounting -four included TO l7,l32,44l bushels
from both coasts for three weeks OF SeptemDer
AGAINST A. O4l 905 bushels for the same weeks last
year. and the price has advanced 10 81 O5 IA for
October delivery Especially low prices are not to
he expected while the pressure of foreign demand
continues so great. Corn naturally fell cents
with more assured prospects, and oats cents
Better prospects for the crop and the comparative
slenderness of the foreign demand also depressed
cotton half a cent the receipts for September thus
far having been only 100000 bales, against $780,
GOO last year, and the exports not quite OIL ,OOO
against 1914 900 bales
The volume of domestic trade is already begin
ming to exceed that OF last year, that bank clear
inns at all cities outside Of New-YorlS show gain
of 2 ,cr cent for the last week. Yet the excess III
elearings Of September, 1890. over those of the
same month of 1889 was nearly $500, 100000, or
ls per cent In the course Of foreign commerce,
changes still more noteworthy are seen. The im-
norris still fall somewhat below last years in value.
the decrease for three weeks at New-York being
Ssh 90 900. or l65 per cent. This is in part be-
cause the September imports last year we've excep-
tonally large but the figures indicate an aggregate
Of less than $40 100000 for the month. TN the
other hand. the increase In exports from New-York
alone for three wee KS has been S5063.s26 lust