New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-10-26
MONEY AND BUSINESS.

Domestic trade is gradually expanding, and at
the West is larger than ever 1t is true that
while crops Of Unprecedented magnitude are COM
ing forward more rapidly than in any previous
year. there is not just at present correspond
ing foreign demand for the surplus. This Is a
disappointment respects wheat, of which eX-
ports were nearly 100000 bushels in one week
in August, and 100000 bushels in the first
week Of September. but have dropped below
1000 900 bushels in each of two weeks TINS
month The exports of provisions fall far behind
those Of last year decrease was expected In
cotton because foreign stocks are extremely large,
while last years exports In October were the
largest ever known, but the decrease is felt
the more because receipts of cotton from planta-
tons exceed even last years unprecedented move
ment Some hesitation in the markets for the
great staples Naturally follows.
Wheat for November delivery has fallen cents
during the past week, Western receipts being
nearly 100000 bushels, and in four weeks
2s. 1888 bushels against 14.555,224 last year
The exports arc also larger than year ago, Wien
they were cut down by speculation almost to
nothing at Atlantic ports, but for the past four
weeks have been only 100000 bushels wheat
AGAINST $50 GOO last year. Including flour. the
exports from both coasts have been about double
last wears in quantity, which does not mean
like increase in value, however for the price q
wear ago was about 1-2 cents per bushel higher
Corn does not come forward as yet, and speculation
has lifted it = 12 cents, and oats as much, IN
spite of the certainty that enormous crops must
move before long. Pork has fallen 20 cents per
barrel lard fraction and hogs three-eighths, the
exports showing a large decrease. $4,000 barrels
pork against $4,000 last year. and 100000
pounds bacon and lard against 64,00o,000 last
wear for three weeks. Oil is also depressed IA
cents, With shrinkage in exports, which for
the previous eight months were very heavy. In
crude and granulated sugar prices are little
lower. but coffee has recovered little.
Roth foreign and domestic stocks of cotton are
enormous; the domestic, 1,385,S4S against
754.553 year ago, and the foreign 100000
against $4,000 year ago. Instead of surprise
that exports decrease there is ground for wonder
that this month thus far they have amounted TO
5ls.7o3 bales against 66O,170 last year. Yet
the quantity which has come into sight this
month already is l,492,121 bales against
1275.673 for the same part Of October last year,
when the crop was nearly million bales greater
than ever before. In view of such receipts and
the low prices prevailing it is not easy to credit
reports Of great deficiency in yield. During the
week spot cotton fell and then eighth, but
options are shade higher. American spinners
have taken g., 900 bales more this month than a
wear ago, but the enormous increase in port re-
ceipts and decrease in exports have depressing
influence.
In view of these changes, it is not strange that
domestic exports from New-YOrk decrease, but how
much cannot be correctly stated because official
returns last year Inflated by including
cargoes previously omitted in the rush prior to the
enforcement Of the new tariff. For similar rea~
sons, the decrease of 287 per cent in value Of
ported imports here is not especially reliable.
But some decrease in exports is not surprising
since last October the amount was over sos, 000,.
600, the largest then ever known in any month,
of which nearly Si7OOO,OOO was in value of cot
ton The full returns for September. just pub
lshed, show exports of SS2,5s7,s97, which are
by far the largest ever reported for that month,
and indeed, were only exceeded for the month of
October in 1879 and $780, pT70r 10 the last few
years. The imports, though far below those Of
the same month last year, were never exceeded
in the same month of any other year except 1882
Domestic trade falls little below that OF year
ago, when the aggregate was swelled many millions
by the distribution of hurredly imported goods
Exchanges at clearing houses outside New-Nork
show decrease of barely s per cent for the
month thus far. less than SCI. zoo. OoO and the