New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-04-10
MONEY md BUSINESS.

When a ship In mid-ocean springs leak some
| anxiety Is quite excuaabe until the leak ha'
been stopped. Business is in nid-ocean, GO u
speak; it will be more than three months DC
fore new crops will begin to go abroad so Largely
| as TO pay for imports. In the interim there mus
be some uncertainty about the safety ana tn'
size of coming crops, and consequently about thu
traffic of railroads next fall. which may operate
In connection with monetary doubts to prevent
foreign investments in American securities But
| unless products Or stocks exported during
| the next three months it seems to be inevitable
| that gold must 60 abroad, and the moderate
| outgo Of $4,000 900 last week was influential
| mainly as q reminder of the fact. IL IL saio
| that no less than S3,lO0000 has been engaged
| for export on Tuesday. Not many weeks OF sucn
| a movement it is clear, would be needed 10
| reduce the gold reserve Of the Treasury below
| SlO0, 900. This state Of facts checked
| tendency toward higher prices Last week IN the
| stool, market. so that the average advance In
| railroad stocks was only % cents per share ior
| the week, while the average Of trust stocks
| declined 2j cents per share. There was strong
| and good buying in some OF the best railway
| securities said TO he led by the vanderbilt III
| terest, and eople who have been selling MIS-
| souri, Pacific without owning it found theh-
| selves in trouble while recent labor decisions
|
Earnings were large, for March, so far as re-
portcd. about per cent greater than last year.
Westbound traffic Is said to he remarkably heavy
| ard profitable But. in spite Of all this, ana
| the expectation of big business in correction
with the Worlds Fair stocts made on the
whole no substantial gain. COrdacc was liited
by a rer cent dividend, but the ndustrlais
were generally heavy The public is not Dc-
slowing upon stocks the attention or the mo'ey
which professional operators desire, ana the COLI
sequence Is a narrow and stagnant market
There was more activity and, IL may I've auded
less sense, in the produce markets. wheat al
vanced about cents during the week, undef
boavv bombardment of kilograms asserting that
winter wheat in some Western States had been
seriously injured. The yield last year In the
States where injury is thus reported was not more
than 150, 900, 900 bushels, and the largese oncl'I
or unofficial estimate Of loss in those States would
not exceed 80 per cent, which would DC nuch
less than the surplus Of wheat certain to be car
ried over July I. But advices from the west
also state that in spring wheat States the ground Is
in exceedingly good condition for sowing, which
is going forward rapidly with every prospect OF
increased acreage. Under the circumstances, those
who hold wheat ala cents at Chicago higher
than at New-York may have occasion to consider
selves. Corn and oats were both shade higher,
but pork declined 81 per barrel
Cotton dropped fIom So cents to 8 3S cents
and recovered to Sc cents without satisfactory
reason. Receipts from plantations were over
$4,000 bales for the week, against $4,000 last
year, and exports 10000, against 10000 last
year. Spectators begin to recognize the fact
that the stock carried to next year is likely
to be at the least 900 bales, and may be con-
sideraby more, because receipts indicate that
Southern supplies ore by no means exhausted
yet, and, nevertheless, trade nervously follows
the faintest variation Of the Liverpool market. rs
if life depended upon keeping the price here high
enough to prevent large exports.
IL is not strange, with cotton and wheat mar
kets In such condition, that merchandise ex-
ports last week were about IS per cent smaller
than for the same week last year, while the I'M
ports again exceeded 81 900, 0OO and were 22 per
cent larger than last year COR the s:ine week. In
April last imports a little exceeded exports and
oply 10 per cent decline in exports and increase
in imports would be enough to make the excess
OF exports more than $20,O0O,OOO These facts,
rather than the recorded outgo of gold thus far,
support the impression that heavy gold exports
can be prevented only by such stringency in money
markets here will shake products and stocks
out OF the hands or many holders.
The reasoning Oh the other side is based mainly
on the great activity of business and the belief
that still greater activity must result from the
Exposition this year. The exchanges at Clearing |
Houses outside Ncw-York were last week about 10 |
per cent greater than year ago. and in the month
Of March SO per cent greater. But prices of CON-
modltles average more than per cent higher than |
n year ago, and while west-bOund traffic proves |
that there is an enormous distribution of uer-
chandse. the aggregate volume of all quantities
transferred is probably not greater. More wheat |
is in motion and more -four. but much less corn.
very much less cotton, and fewer cattle In one
great department Of business there is already and
promises to be extraordinary activity in building
and in the supply Of building materials.
Owing to this alone. it is probable, the consump-
ion OF iron in the manufacture does not fall be-
ow last years, for in rails transactions are very
mall, and bar iron is dull. though in somewhat
better demand than of late, while IN nIote. and
structural iron and steel business is very active.
lotion goods have been weaker. print cloths and
ome finished fabrics declining in price. though
he market is by no means overstocked. In mems
voollens. too. trading is rather slow. partlv he.
ause demands OF clothiers are reduced bv The
ockout. In dress goods and other woollens thu
movement Is still exceptionally large and sales n,
WOOL contipue to exceed last years especiallv in
arpet varieties There is no sign OF depression In
ny great Industry. though in some there il nor.
eptible doubt as TO the future.
Tho Hartford correspondent Of "TTa N.,v,