New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-01
MONTY IND BUSINESS.

In Wall Street and in business elsewhere t'Te
i, somc disappointment because trade OF the new
year does not expand as fast rs was expected
The obvious comment seems to bc the only just
one people expected too much. Having made up
their minds that business would be 80 per cent
larger, they are much chilled because it IL only
10 per cent larger than ever before. little more
patience is needed. An improvement that lasts
does not often come between two days. But Il
gradual and apparently substantial increase IN
tho volume of business can be seen by those
who are not looking exclusively Tor su'Ueh an"
dangerous boom.
During the past week and MONTH several in
nucner, haze operated TO rctard the expansion
Of trade and possibly for that very reason have
been beneficial in permanent sense. The posi-
bility of foreign war. which has now vanished,
made some people disinclned to take large new ven
ture, Then there has been Considerable unccr-
tainty in regard to the action OF Congress on the
tarin and the silver question, which mas dlnllh-
isncd a. IL has become less likely that the ma
ioritv in the House will agree upon any policy
which could by any chance prevail In the senate
Turope,u Affairs have had scarcely any influence
since the Bank of England lowered It's rate Inc
disbursements of the Treasury have been large
and more than S5,OOO,O0O has come back TO TINS
city from the interior during the past week. 80
that the reserve held IS the Ncw-lork bahKs Is
now over Si63. 100000 and the deposits over
$500. OOO.oo0. \ large amount of money when
w.. necdful I'm the movement OF great crops
ha, now been sent back 10 monetary centres, not
because bushes, IS smaller for the season than
u.uul. but because less currency Is required IN
the interior at tins season than IN the fan. NoI-
lection, have improved IN all quarters, ana the
,,lpu,, or circulation il considerably larger thah
az any previous tl,nc.
The Treasury has pat out about S2,50O,ooo
NOR. than II has taken in during the past week
Is disbursements during the month have Deeh
very heavy. and it would bc no detriment 10
lu-incss if the Treasury could now take III good
many millions rccupcratlng It's reserve against
onofhcr emergency. The Improvement IN coHec-
,iou, Ina, been marked throughout the west ana
+. observed 10 some extent at the Hou'" INC
stock OF cotton at ports and interior '""us mas
decreased l5i0OO bales during the past month,
AGAINST only $1,000 during the same month OF
last wear although it is even now 1ol,oOo pal'S
greater than il was year aSo Inc Idpd hai-
kcting of grain has been Iaciialcd pS oct'i
weather aud better roads at the west ana ms
helrcd the liquidation of many millions oI III
drbfrIn,s- Thus there has resulted an unusually
strong market for securities, III spite OF cohslI-
,h. selling by foreigners and the average price
of
the week. closed 4 shade higher than week ago,
and only ~ cents per 500 lower than 1t was
Inpuarv .. the entire fluctuations during the
month having been coh'ihc" "i"'" i""sc Va
only 81 per share
The strength of foreign exchange 10 one evidence
that securities have been sold by foreign holders
:; anita LARGO amounts During four weeks W
Jaru,r, the merchandise imports at Newlork
bovc bren only 1868, greater than last year,
,,Iich would indicate an aggregate OF imports Tor
tho ,nonth of about 500, OO0, 900. But the mcr-
chaudisa exports from NcwNork have been $ll'-
1853, 900 larger, or 42.9 per cent IMAM lor TIC
same weeks last year, which would raise the ag-
gregatc Of exports for the month, II there had Deeh
no increase at other cities to about S9i'oooOoo.
The excess Of merchandise exports over imports
durinp the last five months of 1891 was $l5S,-
sos YIq and January bids fair TO raise the excess
In $40 600. 600 for six months. Exports of cot
ton in January have been only $4,000 bales less
than last year. though at lower price Tut the
exports of wheat and flour have been equal 10 H.
5s4,235 bushels wheat from both coasts, and of
corn about IL 80 900 bushels, enormously en-
cecding the exports a year ago
Wheat has declined cent and oats a fraction,
while corn is n fraction stronger in spite of very
large Western receipts. Prices of pork products
ARE substantially unchanged, but cotton has de-
cnc1 an eighth 10 : II cents for middling up
| lands Notwithstanding Il decrease of nearly 200.-
900 bales in port receipts in January, stocks on
hand being still too large for comfort. Specula-
ton in wheat has been more active OF late in
Chicago and sales of cotton here have been quite
large but in general the superabundancc Of money
has not vet started such speculation to cmbar-
rass legitimate business. The Thomas Iron Com
pany has reduced the price of No. anthracite pig
30 cents per ton, and Bessemer iron is as much
lower at Pittsburg but considering the eXtmordi-
nary production. this yielding in price is not large.
| In the wool Urade, q stronger demand and larger
sales are seen hen, and Boston, and there is OBJ
served a somewhat better demand for goods cspe-
| cally from the West.
The railroad earnings and the exchanges through