New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-16
MONET AND BUSINESS.

MONET AND BUSINESS.
The stock market has advanced during the past
week, notwithstanding remarkable combination
Of circumstances which would ordinarily have
cau,,d depression. Uan, reserves are telling
rapidlv. money j, growing close in some interior
cities. grain j, Tisnc. the theory that there Is
80 be a great scarcity: decision OF the Interstate
Commission was rendered which is regarded a.
involving some loss - the coal-carrying com
pauics the Argentine troubles have caused u Vrt-
ral failure Of large bank az Paris and the affairs
of an important speculative house at London,
Murictta d Co.. were found upon investigation
f. 10 such that the syndicate formed to rescue
tie concern declined 10 undertake the task. But
stocks advanced during the week ~ per share
Yearly all participating in the Improvement more
or less. No definite reason appears for this adj
vance. excepting that too many people may hay"
sold propc,iv that did not belong to them. and
fine. market continues rs devoid of public partiri
nation or interest q, it las been. The profess
SIGNALS have the whole business to themselves
and that +, one monopoly which is never profit
able.
fl is argued with great force that London
must D.. substantially bare OF American stocNs
held for speculation. since there appears to nave
been no selling for London account during the past
v,ck Notwithstanding THE fresh Outbreaks OF
Argentine troubles. Bu: there are many ways IN
whJh the eject - financial disasters abroad VIII
be- felt i'm this country. and when II IS considered
that the end 81 the Argentine troubles ana losses
has not vet been reached, aud that at the same
time the industrial and commercial situation IN
sr.,, britain Is far from satisfactory it viii be
realized That the future t. not altogether assured
The American money market is, in some senses
..F.t tft 4 20
behind il, i dc.lcc Of industrial progress and
uro>perity such A. 10 other country enjoys
The remarkable dccicaS, IN output OF pis-,r0n,
,cl,ich WIS only 1885 touS March /, against
llG.o5o February /. end lo3.s+C toms December
+ can mo- LONGER he attributed entirely to th" tefn-
pnr,r, slut down IN the Mohouing ami Nhenanso
valleys. or r. the strike of coke WORKERS Ines"
d,ulrlr,, have caused most Of the decrease b"i
other works have suspended pioIIctIon because
the demand - soanty and the pri'e remarkably
low Tie monthly average of $40 80 for No. !
anthracite at Philadelphia which Vas recorded III
November, Is5-, has not Yet been cpu1ll'd hut
iron quite ~ choice and good ~ was tAch r'ck-
oncd so. ! anthracite Is now selling ~ Jess thah
81 and as possible buyers are confident tha'
the Strike and the shutdown must speedily ter
inmate they count upon lower prices ana are
.lov. 10 buy. 1t i, understood, too, that the de-
while ,rils ere only rendered more inactive by the
completion last week OF the NcraEton-LackaWaAha
con. pinafion. which undertakes 80 support tine
price at abou, $50 at the mill. But prospects Of
enormous, activity in building this spring. cNpcc-
inlly IN Western cities give reason 10 hope that
l drmad Tor ,truci ural iron will be exceedingly
larac The wool manufacture has substantially all
il, machinery well employed, and IN worsieds,
dr.,s-aoods and knit goods the bushes, is not only
pr,cr than ever bat highly prosperous. The
cotton manufacture has not boon a. prohablc rs
usual. Fall River dividends Tor the last quarter
having averaged only Lea per cent, against :
pcr cent last year, but the difficulty j. largely
due 10 the decline in the price Of the material,
Of which the mills purchased great quantities
when they paid about cent per pound more than
! the cotton would cost now. The only difficulty
that appears in the boot and Shoe manufacture IS
of the opposite sort speculative advance IN
leather was followed by a small advance sJm"
time a2o in prices Of boots and shoes, but the
manufacturers hove not been able 10 maintain II.
The Government report shows that ll2OOO,OOO
bushels wheat were remaining IN the farmers
hands on the LIST Of March, while the quantity
in visible supply and known to be in elevators
is Jl,000,0O0 bushels more. The lG3OOO,oOo
bushels thus in sight is not by any means the
clilIc supply aN liti' IL always l"''H'i'A
at this SEASON in the form of -Four. and in Other
stocks between the farmers and the chief markets
Bat with only ll1,000,0O0 bushels required for
seed and food until the end OF this crop year.
the known and certain supply would abundanty
suffice for the domestic demand and for all
probablc exports. The exports in February from
all Atlantic ports were only sOS,7lG bushels
against l,Gjl,sll bushels last year. while the
| Pacific Coast exported about 100000 bushels.
little more than last year. There was also a
heavy decline in Atlantic exports Of flour. let
the booming OF prices continues, and as corn is
| Enthusiastically scarce and mounting rapidly the
| wheat spectators find their task easier. Cotton
has stiliened a little also though receipts during
| two weeks Of March have been 5000 bales larger
| than last year. while the exports in those weeks
were ~, 900 bales smaller The quantity which
| has already come into sight is 7.j6s, $40 bales
which is moro than some ovcT-wise and over
| posirivc people estimated the entire crop not
long ago.
The railroads are doing well, thu earnings OF
| ifty-fonT for the first week In March showing
o1iu OF 49, pcr cent, and IN the month Of Fcbru
ary lij roads reported by THE Financial ChIon-
| iclc" showed gain over last year oi Alb p'r
cent. Bni thee same roads increased 81 per ccni
| in mileage Indicating little gain in net earnings.
| The prcc;r effect OF the interstate decision re-
1ording coal transportation cannot yet he known,
and il may prove less important than some suppose