New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-07-11
MONFY AND BUSINESS.


volume of business is not merely greater than in
any other year at this season; it has never been
eouallod in any month Of any other year except
in October last year and in 1890. Such is the
record of payments through clearing houses out
side New-York in June, and also for the first
week of July. in which the increase the same
week last year was CT per cent. In June. the
increase was 81 per cent, and in the half year
dealings were 6 per cent greater than last year
This was also just the ratio Of increase for the
half wear and the month in Eastern States, New
York excluded but in Western States the increase
was I6 per cent for the half year and 20
rcr cent for the month. while at the South the
gain was but 1.G per cent for the half year and
IO.7 per cent for the month. These comparisons
should he interpreted in the light of two facts ::
that prices Of commodities average about Z per
cent less than n year ago, and that speculation
has been reduced to the minimum by the pending
Anti Option and Silver bills.
Both these measures check business. The Anti
Option bill has been reported without recommends
tion bv \ Senate committee which was expected
TO pronounce il unconstitutional, Improbable Of
enforcement and unwisc il it could be enforced
4 feeling naturally results that the same infiI-
encc which hndercd opposition by The committee
may cause the passage Of the bill by tho Senate.
Some amendments have been devised by friends
NJ thc measure which do indeed remove part
Il the objections to it, but its enforcement even
in amended form, appears highly impractcable,
and there can I've little doubt that its effect would
he TO dcpre-s prices Of farm products at the sea
son when farmers are forced 10 sell most largely.
In part because OF the possibility that this bill
may pass, wheat has declined during the past
week is cents, c IN "a cents and oats is
cents. and cotton has declined a sixteenth, though
pork product. have advanced.
Other Influences contributed to the decline.
Western receipts Of wheat continue nearly
. 900. 900 bushels per week. while exports have
been declining to about 2.000.oo0 bushels fr IN
both coasts TIE stock Of wheat carried over
Julv / though not vet definitely known, was
clearly very large, and the monthly report just
issued shows an average condition Only % per
cent lower July than year ago, which would
imply Yield Of more than 575,OOO,OOO bushes
without any improvement In spring wheat since
July l. Without the stock carried over this
would DO about a. much as has been consumed
and exported during the past year. and more
than in any other year. The acreage Of corn
july is reported as A. per cent short and the
condition III per cent below that II year
ago, which would point TO yield OF about
80, 100000 bushels, but the more favorable
weather In July doubtless justes 4 higher csti-
mate at this time The reported Improvement
in cotton has been small. and yet the condition
s only IL per cent below that Of year ago
Taking the acreage statement Of The Financial
oh-oric,~ ~ much the more likely 10 be cor
rect the official report Of conditions would point
10 , vlrd hut little below 3, 1000, 600 bales, which,
with tho en-. rmou. stocks. would more than sup
rlv the worlds demand Receipts from Planta-
I.rrcr than Nenr % nu, n
export, and takinss " spInners
The trouble in the iron manufacture has en-
phcaiol eject. N many works which put iron
md steel inso form, f,r final use arr closed, the
demand for pis iron is reduced and tho price
depressed. TIE Thomas Company has reduced
anthracite 40. | to $l5 PER ton. the wcs' ever
quoicA. and Rcsscmcr sells at Sl4 at Pitisburg.
rut thc sumo caua" tends 10 raise the price Of bar
and nhcr products especially structure, iron, which
has advanced - Per ton with large demand.
An Eastern mill has sold 10, 900 tons Of rails and
the sale. for the half year have been $4,000 tors.
with dcliycric, Of $4,000, but the works have
not full employment win tic price held at $50
per ton.
The cotton manufacture Is doing large business
with UNUSUALLY narrow stocks Of goods held by
AGENTS or anywhere in the country. Within the
mast week increased orders for wcOllcn goods have
pr,mptei manufacturers to larger purchases of
wool and some large contracts for future delivery
are reported at Boston. The new supply comes
forward slowly, and the tendency seems toward
a moderate Improvement in price. The con-
snmpton OF silk and Of indiarubhcr Is larger this
wear than ever before. The boot and shoe manu-
facturc is pressed with appeals for speedy delivery
# goods showing that sales 10 consumers or WI
closcy upon production, and yet shipments from
the East are greater than in the same part
Of any previous year. $4,000 cases more than last
year. and 1000 more than in 1890. Shipments
If anthracite coal for the half year have been
1872. 600 tors greater than last year. or IL
rer cent and receipts Of cattle at Chicago have
been 2OG 900 head greater than last year, or l.
per cent
Reports about the prospect OF the Silver Dill
have affected money markets but little, though at
some Western points the demand is increasing
Heavy exports of gold week ago were expected
to he followed by larger last week. but cXchanG"
dropped and actual shipments were only about
81 900. 900. The Treasury has put out S2,100,00O
more gold than it has taken n and added $500, 900
70 the paper outstanding, but in June the crcu-
lation of all kinds decreased 81 1886, sol, on ac-
count OF gold exports, though it is 81 OF. 0Oj, S3
greater than year ago. The stock market was
somewhat weak after the Silver bill passed the
Senate but has Strengthened again. though with
scanty transactions The bill probably causes some
sale, on FOREIGN acc mt, but American purchasers
are encouraged by improving crop prospects, 40
that the market waits. The final disposition OF
tbc bill would doubtless cause active trading.
ps the defeat of the Anti-Option bill would in
pro1ucc markets.