New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-09-04
MONEY IND BUSINESS.

II surprises no one that some speculation has
been started by the passage OF the silver Dill III
the llouse. and the arrival Of S4O,6Sl, IDS gold
from abroad sinca July 20 besides an addition oil
Ses5s9, 900 currency 20 circulation from other
sources Even this statement does not take INTO
account the enormous addition TO clearing house
certificates throughout the country. 10 vast an
eNpanson of circulation might have been e\-
pcctcd 10 kindle speculative excitement bn'
money for industries or commerce - almost I'M
possible 10 get, even at Is to 90 per cent mus
while manufactures are Frustrated and commercial
houses failing or in trouble, stocks advanced All
average of $500 per share for railroads, ana
81 % per share for trusts exclusive OF assessments
maid ONLY the Delaware and Hudson in the
first list and Whisky in the last failed to advance
True while tie advance was general, the puNln2
was not, and there was more marking up pIl'f'
than absorption by investors The speculation
ran into wheat also, which advanced about cent
after large loans by Chicago banks; pork adj
vancod 81 30 per barrel. coffee 3-s of cent pork
I 3.s cents. and even cotton quarter of a cent.
Vet while press dispatches mention twenty -ive
manufacturing concerns which resumed last week,
they mention scvcnty-siX which stopped.
The monetary difficulty has been greatly re-
Iicv.d Domestic exchanges have become easier,
aud discounts against Ncw-Norlt have nearly
ceased The premium on gold TO arrive has dis
appeared. and S7,4eG,i3 arrived during the week.
,bout S!O O0O, 900 was dsburscd here and 50
600 coo elsewhere for interest and dividends.
Treasury disbursements reduced Its gold Sl,ooo,-
0O0 and It's legal tenders 100000 during III"
week. while it took in 81 ,?OO,O"O silver Hs "N-
pcn,iitulcs exceeded its receipts So,4l ia" toi
August more than @3c0,00O Per day, ana London
.lg llrsI
90 hc sent abroad. which will he acceptable in
Mace Of tine $50, 900 Of banking and S2O,oOo
ooo of railroad leans effected there last month for
this county Until these loans are provided FOR
shipmcnts of products abroad will scarcely bring
,ol1 in return. Meanwhile industries are not
aiming and whether foreign purchases OF railroad
securities will cancel the advances made against
Grams we. TO he forwarded may depend some on
| ronrood earnings which in three weeks OF August
,.ore l43 prr cent less than on the same roads
| last year
some iron concerns have started up with ma
,oral reduction Of wages. but against twelve re-
suming twenty-five stopped last week. II is
stated that stocks of pig iron increasing thous
half the furnaces in producing capacity are idle
90 much reduced is the demand for finished
r,odncts. over four-iihs of the Conncsvillt
| coL. ovens are now idle Even - for Grey
| r,,qr ut furnace failed to close bargain fo
| ..yrrll thousand TONS and while some increls'
| in special orders AT Chicago and Philadelphia i
| r,.u,r,etl. the general trade il Hat with prices %
mast finished products at litiSburg the loves
aver known. In woollen manufacture men rrpor
| q, letter outlook, and some carpet works hope Il
start soon But actual sales Of wool in the three
chief markets last week We're the smallest in any
week for years, and for the last four weeks were
only G,4sl,767 pounds, against 32,6iO,s0o las
| year and 23,0i9,l00 in SOL. A third Of the yea