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

Business is not answering expectations. The
volume Of trade is little, but only little, larger
than a year ago. At Chicago and san Francisco
i, is decidedly larger but smaller at Boston, Pnila
dclphIa. Baltimore and 81. Louis, and viii { the
storm of last week accounts for part Of the de
crcas N Eastern cities the TACT remains that there
Is decline AT more than half the CITIES in the
country, and but snail increase at most of the
remaining cities. Railroad earnings show gain
for the thrd week Of January of a little over 10
per cent. , /: per cent for the second Week. and
Der cent for Tie first week OF the mouth, but
the reports of tonnage do not Indicate that the
gain Is IN quantity of products moved. The fact
Is that the railroad companies are getting better
pav for the work they are doing. but are not NOV
ing as much freight as they were 4 year ago.
Some unfayorahlc symptoms are seen in the
iron. cotton wcollen and boot and shoe manu-
features. though in all of these there is fair a.
tiyty The demand tor woolcn goois i, sma or
than has been expected. and while the scarcity OF
combiug wool causes Slilcnlnc OF price, other
kind, are comparatively weak. Cotton Iools are
no, strong, and prnt'clothS are shade weaker.
The general advance in boots and shoes, which
manufacturers est blshcd after leather a ivanc'd
last year. his not been fully maintained, and WIN
Ter goods being sold by Ncw-Engand manu-
flciurcr, at last years prices. In spite OF the re-
marlabc decrease ia output of pig IRON, prices are
weak. indicating a great decline IN the consunp-
ton. The demand for tee, rails hts been checked
hy the efforts OF makers TO establish an advance
I'm prices and the orders for structural. plate ana
bar iron are decidedly below expectations. Hence,
olthouch the statistics now published hy the Iron
and Steel Association show a woIdcrfal increase
both in production aad consumption of iron dur
inc the year 1880. the present condition Of the
industry is not altogether encouraging, and the
increase OF about 400 900 tons in the unsold stocks
ON hand during the last year is kccny felt by
many OF the producers.
Spcculation has lifted the price of wheat dur
inc the last week about loHr cents, though corn
end oat, have weakened. The great abundance of
money at commercial centres, particularly Oh call
or for short time, has stimulated activity in the
speculative markets, and the more in products be
cause there is not little hesitation and doubt in
REGARD to railroad stocks. While some of the
most active men in the presidents combination feel
entirely satisfied with the progress made thus far
tbc public sees that little or no advance has yet
been made in adjusting terms Of agreement, par
ticulnrly with respect To the percentages allotted
IN the different roads. and there is a growing
doubt whether the compact will prove more
beneficial than the empty arrangement which pre-
coded 1t. The payment of a dividend Nickel
Plate first preferred, and Improvement in Missouri
Pacific and the Vanderbilt stocks. have been in
some measure ncutralizcd by the weakness in the
stocks of railroads travcrsng the States controlled
hv the Farmers Alliance, because of the new
legislation proposed in several of those States.
Money accumulacs rapidly at New-lOrk, and
the banks have large surplus, but this is not
an altogether favorable symptom. Ii means that
the ordinary commercial demand for money is not
now felt and the shrinkagc in this direction is
significant. There has been good reason at any
time To expect that the country would wholly
escape The influence of short crop of wheat corn
and oats, and while tnOse who have hal grain t.
many others have had nothing T. sell and are
forced TO limit their purchases of other products.
Al the same time the possibility of dangerous
LEGISLATION in some Western States Is Ieu III all
the money markets. 10 well as the Icar that UNI
limited silver coinage will soon be authorized and
this possibility has its weight in the minds of
every investor or lender.
Thrors huut the country Rooney markets have
been growing e'S'cr and -redt confidence Is every
where fclt IN tie commercial future. Perhaps
by the publication of the usual reports showing
The enormous increase in business, for the year
$50, since men are apt 10 overlook the fact that
there was remarkable change, not for the bet
tor during the last two months of the year. With
exports amounting to Ss57.623.677 for 1890.