New-York tribune., 1891-05-04
MONEY And BUSINESS.

Heavy exports Of gold have not causeu
scare" for Wall Street takes it for granted
that the outward movement is only short loan.
The gold will all come back men assume, when
wheat begins to move. so men calculated III
1850. when S37, ,O0O,O 900 gold went out in the
four months, April-July inclusive, but the net
imports of gold during the eight months which
followed were only about S4,00O,oOO. At that
time. too, the net exports of silver were over
S21. 900 900 in a year. but during the last twelve
months only about 81 100000 which means that
n larger balance must be settled In some other
way. II is hardly warranted, therefore, to as
sumo that the gold which goes abroad at this
season will come back as soon as we want
it," Business men have TO face the fact that
the Government is creating and pouring ont
great volume Of new paper currency, which has
deposited for its redemption only silver dollars
II is by no means inconceivable that gold in
increasing amount may be drawn out Of the
country, as result Of the abundant supply of
other currency; at all events, it is prudent not
TO ignore that possibility.
The exports of gold last week were over S4,000-
600 in amount, while the net receipts of the New
York banks from the interior were but S3,257-
OO0 The Treasury also took in during the week
more money than it paid out, but the disburSe-
ments this month will quickly put the balance on
the other side. The extended discussion of the
condition of the Treasury which has been going
on during the last week had a somewhat dis
quieting effect, because garng Misrepresentation
for partisan purposes were by some believed.
But the stock market showed a good deal Of
strength under the circumstances though it
yielded toward the close of the week, when the
exports of Saturday were announced. Other
news affecting prices of stocks was generally
roads for three weeks of April Show gain of
| Ia per cent over those of the same weeks last
| year. There is still painful want of harmony
| among some of the trunk lines, Notwithstanding
| all their agreements and associations, but the
wrangles do not go far as to prevent an actual
| increase of earnings, though the tonnage trans
| ported is smaller than year ago.
Speculation in wheat and corn has turned down.
| ward, and the failure and departure of a con-
| spicuous trader at Chicago give hint Of the
| losses which many others must have shared.
| Wheat in elevator is cents lower than week
| ago. and May wheat 8 5-s lower, corn in elevator
| cents lower, and May corn 3 ga cents lower
| The exports in April from both coasts were
little larger of wheat and Of -four than last year
| but the receipts at Western ports were about
$4,000 900 bushels against $780, 900 last year, and
this steady excess of receipts makes the predic-
| tions of those who have reckoned upon the eN-
hausion of the supply appear particularly ridicu-
| lous Pork and lard have hardly changed in
price during the week. and cotton stands at IS
cents for middling uplands, the receipts and eX.
ports both being quite unprecedented for the
season. In April the exports were 432,GoS bales
and the receipts 29s,l 1872 and the quantity which
| has now come into sight is sl5047 bales more
than the entire yield of $50. Cotton print cloth:
are selling at the lowest prices ever recorded. and
the lowest price ever made for some standard
prints, 3 - cents. made last week The
takings Of Northern spnners this year thus fal
are s4,s05 bales more than year ago. and the
estimated Southern consumption $4,000 bale'
| more.
The iron and steel manufacture seems 10 NEE
a rather better demand for finished products. ant
! there is reason TO hope that as the strikes o
controversies in building trades pass by the re
qurements Of structural iron may enlarge. Or
the other hand, the great strike of miners which
was threatened and which seemed likely 10 further
curtan the output of pig iron. has been prevented