New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-06
Monty md BUSINESS.

Nearly all the markets during the past wecl;
were governed by the ~, apparently rullhS IN"
minds Of buyers and Of sellers, that crops wou !
be- slor, because OF the unfayOrabc weather; ;
that grain and cotton would he much dcnrer That
the bu~inc., OF railroads would be materially
diminished 10y the ahOrtncSs Of the crops o. -
moved and in much larger ratio by the set
back which tie partial failure Of crops wpdli
give 10 general husi,c-s in the farming regions
Wheat rsc but half cent, II j. true, hut OATS
rose 3-H cents, corn Ovcr cents, ana COTTON
10 OF cent, with rather large trading mere
and in other cities. There j. much room for
doubt whether such advances Il, thce are JuStlile
by anything Yet known or reasonably u he IN
fcrrcd REGARDING the coming crops. Int there i
no room 20 doubt about the eNpcdirncy Of sellin,
many railroad stocks, if crops are really going t"
he as badly affected a. these prices would inIl-
cate II tie grain and cotton market had any
sense whatever uicre was better sense than
usual in the decline in stocks. which AVERAGED
Il Ter share exclusive Of the industrial fancics.
and brought prices {, a lower point than at any
ether time this year.
So much for the prevalent theory, but when ono
hunts for facts to correspond, the case does not
look So simple Although Burlington and Quincy
declined 3 3-s cents during the week, seven other
Of the largest grain-carryIng roads lost during tie
week but little three Of them nothing, two of
them only n quarcr cach and only two about
IA each \ general decline in stocks, based on
bod crop prospects, should have been felt more
largely by the prinri pal grain carriers. Neither
are facts discovcrnblc TO entirely warrant the
assertion that the crops going to bc bal Th'
backward spring has made corn late in some Of
tbc States and therefore exposed To possibility
of early frost, but a late spring sometimes brings
after il n summer - hot and powerful that
fine Yield is realized. IL is bat the truth that
nobody can tell at this date what TIE acreage Of
either crop will bc. and the Department r.
turns. which are oven now being collected, when
they become public week ten days hence will
profess to give only approximate estimates The
only person who can bc quite snrr as early aS
thc frs OF June that the corn crop Is going ~
10 failure, il. Of course, spccuntor in grain.
Tie immense disturbance made in some spccula-
tive quarters about tic injury done 10 the traffic
Of Western railroads by the hoods-an injury
80 great that some people csii mated it AT two
months net carnngs-lol ks rather lnughable in
view Of returns of over eighty railroads for three
weeks of May and eleven roads for the fourth
week, which earned in all So? ls?, 900 this year,
against sci jo2, 900 last year, gain Of $500, 600
or nearly 3 per cent. Small losses due -
Hoods can indeed he traced, nut they fade out
II sight because gains are numerous even in
districts where the trouble was greatest quite
different cause Of depression has probably had
more real influence. The New Jersey authorities
have begun proceedings which Governor Albeit
declares will break up the coal combination and
proceedings have also been begun in Penn
sylvania by shareholders Of thc Lehigh Valley
In these proceedings the leases are brought t.
light, and the or, nnds of objection to them and
il is not strange that the stocks Of the coa-carry-
ing roads have been for some days rather d.
pressed.
The movement of cotton during the last week
has been in all respects a little larger than for
the corresponding week last year Receipts at ports
were 3,40O bales larger. the exports $500 bales
larger, and the quantity OF cotton that came into
sight during the week was 3?,160 bales. against
32.3I5 bales for the same week last year, SO that
s.s2o.223 bales have already como into sight since