Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-08-21
MONEY AND STOCKS.
Confidence Holds Despite Various
Unfayorable Developments.
SUGGESTIVE COMMERCE RETURNS.
Course and Close of the Market for Local
securitieR
NEW YORK STOCKS LOWER AND HEAVY

SATURDAY, Aug. 20.
Something appro1imating activity de-
veloped in the leading money markets DUR
ing the past week, but despite tn fact that
silver again torched the lowest price on
record; that gold exports were continued,
though on a moderate scale; that riotinr as
in progress in Buffalo and actual c"nfiicl in
the State of Tennessee; that the crops con-
menced moving, and that the labor sirdati"n
In Pennsylvania as far from norcisl one,
there was no tightening up of money al an
point and ease was the prevailing cfa-sc-
teristic. The New York bank statement
issued to-day, however, was an uniavor-
able one, showing a decrea in reserve
of S., 395,575. an increase in loans
of $2,2S2, 500, decrease in
specie of S1,679, 900, q decrease in
leakI tenders OF 81. 92l, 400 and a decrease in
deposits OF SSl9, 5000 and unless the changes
soon begin to shit money will undoubtedly
rule frmer uude- the increased demand al
vavs experienced during the early autumn
In the face Of the unfavorable developments
corporate securities have held up well, and
while all commodities in which speculation
is cal ripd ON have hcen temporarily de-
pressed, they have shown a strong under
tom that has assi-trd materially in sustain
ing confidence. Favorable actors have rot
been lack NJ. The comparatively slight ef-
fects produced by the old exports and the
silver crisis d mnnstrated that they were
more or less scounted. Big capitalists
saw more good than evil in the
they moved with caution-their clear-cut
vision taking in the rapid and wide
spread development of the country as
n ora Gfa q 'frnr Is N
a year ago: that bHsine-s iafures were
steadily decreasing, and that net results of
the railroads were quite satisfactory. They
also SAW the prompt measures taken to up
hold the law where lawlessness prevailed,
and in various ways they gave evidence of
conf fence in the inherent stren-t -th of the
Speculation Henry Clews & Co. conclude
len"t V letter as follows: "The
favorable developments have probably been
about discounted for the present: ana, in
the absence oI further surprises, ] look or
improvement later on, 7. e silver situation
takes no one by surprise. The danger has
been long fureseen and well guarded against.
Be ore ng we may expect q waii OF di-tress
from the silver producing regions, for at
present prices there can be little u any
profit in the mining of the product This o.
itself is a crumb of comfort, and there is
reason to hope tor some good from the dis
cussions of the Intrrnatio al Monetary
Conference. as the distress in. India is likely
to orce Great Britain into some sort OF con-
cession at no distant date"
For Ign ommercs Returns
The July returns of foreign commerce are
suggestive. Compared with the same
month last year exports show a decline of
81 Sl3. .663, while imports increased 81 33I. I45,
making the excess nf imports Ss644 COS
greater than in July. 1891 In other words,
our July imports were si3,oH $50 larger than
exports. compare with All excess OF only
81 S73 I42 last year. This fallIn. off in eX-
ports was chiefly in breadstuffs and
petroleum, lower prices also accuun ting for
considerable OF the shrinkage. Details of
Imports are not yet available. TIE signif-
can't part OF these changes is their bearing
upon gold exports which they encourage
rather than diminish. The totals for July
are as .ollows:
1892. 1884,
1mports....s S73 $50 s67 o.! G35 Inc. e. 3sI I45
Exports. IS. 355. go e. 66s S93 Dec. 3d. 663