New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-02-27
MONEY IND BUSINESS.

MONEY IND BUSINESS
Tie situation in Wall Street has taken new
shape. Money has been going out IN large
amounts 10 The interior, over SG,0Oo,OoO having
been shipped thi!cr by the banks. against about
81 600 OGo received last week. though 1t does ho'
appcar that stringcncy exists at any oil the III
,crior money markets. There seems 10 be some
fccling that money will be safer elsewhere thah
un,cr tho shadow OF the stock Exchange, wlef"
II is liable 10 be loaned such stocks a. hca"I"-
and New En- land, Whisky and Sugar Inc lac,
that Reading and New England have each dropi'"
lust - points in two weeks. SaSar - &c. anu
Whiskov =. 3-s since the beginning Of the year, not
unnaturally imrrsScs upon country iOlkS e'I''
Of the mutablty Of stocks which nave "'''
favored i'm speculation But they should not 10Y
oct IN. fact that the banks OF this city have been
20 conducted that not tho hast shade vi snsp'o"
has been raised regarding my one OF thcu' not
witli.tandlrg the violent fluctuations during the
Last two months. Much of Oh" reckless hnihc'hS
connected with these spc"ulI,icns has been doh'
elsewhere. and part II the dram from N'"-io'"
= 10 repair losses sustained at other clt''~.
Eut Wall Street Is the ccntrc both Of spcuAi-
lion and Of finance. and tho changes during The
la. week have Leon unusually scycr". III"
average prc, of stocA, has mll'n ;! Il per
share, and the trusts - 80 per shar" seven
-.oci, c.nncot,l with H." Reading and IN" coal
movement, awe declined in all SI0.;00.o0o dur!ns
the week two Villarl stocks Sj.'O0'0oo. ana the
II. Pnul Il ,i0"ooo. Ea@irs In ten Stocks de-
cline Of Sii,;O0.oo0 in wc'A In TWO Weeks
,he value Of III I,ndng stock las fallen from
sigAOO.Oot 10 Sll .ioo.no9, ana oi All .''"-
England stock from S9,050.ono I" S'''"'''"''
Until last week most of tl," other railroad stO'"N
had been held surprisingly wei. Hut II i h''
STRANGE that Ties. also declined on an average
obout II Ter share under the circumstances lh'i'
IA, been talk of foreign bnying, but II mas not
AZ all events been such ~ . sustain speculation
very much Though only SjGo."oo gold went
abroad Saturday. makne Si,o00.00o Tor q" week.
thcr. i, no Indication that the conrs" "I i"f'th
,odo Ina. so CHANGED a, t. render further export"
unnecessary
Merchandise exports from %cw-Yorll fell last
wcol, 70 st.77e.2u in value and at cotton ports
Oh. dccrcas, in February thus far must bc over
30 O0O. 900. tn" imports al N"W->orN W'f" SUN
ovor Sll 900. 600 last week, and in four wr"tN
h,,. bce, nearly SG,0O0,O00 larger than last
var Th,s. facts indicate some probable excess
r. in,uor,. over exports in February. a. there
wos in Jonuory while the rcldiustmrnt OF prices
which mieht alter the balance comes very Slowly
Vbcot declined last week barely an eighth. ana
uorl rroduct, a small fraction. wiiil" corn. oats
and cotton are a shade higher than week. ago
Rcceipt. of cotton from plantations nave DEC"
bnt half last years for the month thus iar' VIM"
.xports have been only 267,0o4 bales, against
,7c.sI1 last year. Western receipts OF wheat
are larger than they were Il year ago. IN spite
~ all storms and in spite of the decline sine" lS'
wear Of -, cents in the price, while exports rom
both coasts. -four included, hay" been IN lo"r
weeks f. 700 900 bushels, against l1,'oo,o'o
bushels last year. The visible supply Is sum
oIon, A 900 600 bushels against about Al ,OOo,-
600 bushels last year
stock, have not been depressed because the
hu.incss a. thc railroads is bad. although the re-
uortcd earnings of over seventy roads. gwen py
~Thc Financial Chronicle" were for two weeks
of February per cent smaller than last year.
The extensive and severe storms throughout the
Wctt would abundan;ly account for 50 small
dccrcasr Nor il other business inactive Fay
mcnts through all clearing houses outside New
York for three weeks have been per cent greater
| than for the same weeks last year, and IN" III
crc,s, last week apIsars TO have been still larger.
| The only setback that can be discovered in bust
ness is in the speculative operations which centre
| M the Stock Exchange, though prices Of iron
| and its products rather more depressed. lhs
seems to be- in part because uncertainty regarding
the industrial future disnclincs many spcoplr for
new UNDERTAKINGS but the orders for plates ana
structural iron and steel are very large, though
| prices are extremely depressed by severe com
prtition and even in rails tho transactions
thought 10 be about large they were last
year 10 date. but the shrinkaec in purchases Of
rails which was caused by the fixed price still
remains All accounts regarding the textile in
dustrirs are highly favorable; wool sales continue
unusually large for the season and domestic
fleece are scarce, and for dress goods and mems
rough goods the demand is fully up to the capacity
York have been since January | little smaller
than last year in value. The cotton mills are
still most actively employed, and prices for some
qualities Of goods have been slightly advanced.
| The boot and shoe business is hourishng, with
shipments largely exceeding those Of the last or
market for leather leads manufacturers to become
more urgent for higher prices.
The Treasury has lost $500, 900 Of its gold
during the last week, having S3,5O0,00O fewer
notes outstanding, and holds 5000, 900 less silver
than it held week ago IL will hardly lose
this week the S4.3l7. 704 gold which it still ho.s
in excess of the hundred million fund, unless a
raid on its reserve is organized for some spccula-
tive purpose, and after next Saturday the inan-
cial future will depend much upon the policy
which the new Administration may declare. here
is small chance that any legislation of inan.