New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-12
MONEY AND BUSINESS.

Another week has passed with cholera in
the bay. bat not a case on land. and people begin
to reflect that the same precautions which have pre-
vented the plague from landing thus far may shut
h ont for the rest Of this season. Indeed IN"
precautons hereafter will bc more effective tina.
they have been as yet. and the Presidents latest
declaration about immigrant ships. and Secretary
Fosters statement about the work at Sandy
Hook. tend 10 increase public confidence. Thus
h is natural that stocks are stronger than n
week ago. though tic average is but 80 cents
per share higher. and is still more than ~ 30
lower than two weeks ago. But II does not
follow that the influence Of the pest. or Of I'M
certainty about IT, has been exhausted. With
ont any actual outbreak Of the disease on
land there may be enough apprehension and
doubt 70 affect business somewhat uniavoraby
Another force adverse to speculation for an
advance in stocks from the Government
crop report made public late on Saturday. which
shows considerable loss during the half month
in nearly all important crops. The condition of
cotton is the loves, for September since 1888 and
in that wear there was n decrease OF Is Ii per
cont from the yield Of the previous year. Before
the report appeared the price had strengthened
an eighth n II somebody was anticipating H.
But when It is remembered how absnrdly mis-
leading the official report was last year with re
gard TO tho coming yield the figures now pub
shcd have less weight. They are : per cent
lowcr than year ago, and " The Financial
Chronicle" makes the crop OF the past year
D.O3s 7O7 bales, and adhcres to its estimate that
the acreage has decreased this year about |?
pcr cent These figures would point 70 crop
Of 400, 900 bales, but unhappily last years
report did not correspond with the crop realized
nor Is there evidence that this years accounts
are more accurate The exports for the year
have been 5,s6i,99l bales. about $4,000 greater
than those of the previous year. and the American
consumption @,s06,i1l bales or liz per cent
greater than that of the previous year.
The condition of wheat declines again, no less
than per cent, which indicates "A further de-
crease Of about 10000, 900 bushels during the
past month in the probable yield. But even with
such IA decrease, the crop might easily be the
largest ever grown except the last, and the
Weld may not fall of as much as the
foreign demand The price quarter Of
cent last week, but is still close TO the lowest
over recorded that it is evident the market rcckons
upon a supply more than sufficient for all pnr-
p.ses The agricultural report to corn showed
a decline of three points in August and il ll.6
points below that of last year, but 80 lars"
mart of the crop is still exposed to the danger
Of frost that estimates of value can hardly DE
mndc In any case the yield seems likely to
fall 10000, 900 bushels or more below that OF
last year, and the price rose "a cents last
week Oats also rose nearly cent, and the
report made the loss in condition 7.3 for the
month"; and II : compared with last year, which
would also mean a large loss in yield.
1t is not by any means news to wall street
that crops this year going to be comparatively
light But spectators, though knowing the
fact, shut their eyes to it 80 pcrsiNently until
the cholera alarm came that might imagine
they were certain If repetition of last years
sense IA benefit that the result has opened the
eyes of men to the fact that prices have been
rather high. 1t is curious circumstance that
the average for the sixty most active stocks at the
close Saturday night. S6J %, was exactly the
same as the average for the same stocks just
one year ago, but then the price had advanced
SIS G3 per share in six weeks, account of
great crops and coming traffic Now the average
i, about So 10 lower than it early in August.
The railroads are still earning more than they did
a year ago, in August, according TO The Finan-
cal Chronicle" 7.21 per cent more, but the month
embraced one more working day this year
All the great Industries doing finely, and re-
ports from other cities are uniformly hopeful and
encouraging. Money is everywhere in ample sup
ply for all legitimate business collections fair
or good in every part of the country, and the
prospects for fall trade in all quarters con-