New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-02
MONEY AND BUSINESS.

Tho New Year begins with the volume OF busi-
ness largcr than ever with nearly al manuiact>
| urcs lourishing, and with some reason to hope
that important cause Of hindrance and hcsita-
ton In tlc past may be- removed. Thus recent
declarations Of influential Democrats have en-
couraccl many 10 hope that silver purchases will
-oon hc stopped. and that no disturbing action on
the currency or III" tariff question Will b" posi-
bl, until late in the fall. Monetary difficulties
are expected hy many 20 be brushed away By
January dis' ur-cmcut-. and IL is hoped that the
contract between industrial depression AMI threat
cucl revolution abroad and peace and prosperity
here will lead 20 now investments OF foreign cap-
tai Great hopes are also based upon the Worlds
Fair. which il expected 10 prompt such invest
mcnts In arg" amount. 10 keep many millions at
home which in other years are spent abroad by
American tourists. ard 10 bring hithcr multi
iudrs Of forci-ncrs to cNpcnd literally here in
travel and ENJOYMENT.
In business the sky il never quite without
cioul and one no bigger than mans hand some
times prcsacc@ q t"mrc-t. The possibility Of
cholera tins year is brought to mind by reports
Of deaths even now in many European towns. II
lie pest gairs tootholl here. neither the inter
national exposition nor the domestic trade of the
year VIII realize rs much az might otherwise be
expected Nor Is there any certainty that tho
action Of Congress will be- lclp'l rather than hurt
iul. Some Of the silver men avow their intcn-
ton 10 resist silver purchase repeal oven bv I'LL
clustering. II their opposition succeeds. and out
Zoos Of gold for securities continue the year may
become one of scrious difficulty. just now hope
prodomnatcs in the exchanges, aud stocks rose
a.t week 80 cents per sharN closing only 81 30
per share lower than yer ago
Payments through clearing houses outside Of
Ncw-York in December wcrc the largest ever made
in any month, exceeding thoS, Of 1891 by l.
per cent. of which part Is due to the advance
in prices. which arc now ! per cent higher
than n year aco, and. emitting wheat and corn
and their products. now exceptionally low. the
range Of other commodities is per cent higher
Tn" years transactions exceed those Of any pre-
yous year by nearly s per cent. and those Of
1891 ~ 10 per cent At Ncw-lorli The increase in
December was 10 per cent, bnt for the year over
: per cent Those who deduct two or three
times reported stock salcs from the exchanges
here have n puzzle 10 solve in the fact that
Transactions through the stool; Clearing House.
counting Only one side have been far in excess
of all Gales reported ut the Exchange. Each
year n larger proportion OF settlements is made
through other cities and at fourteen outside
Ncw-Nork payments since 1873 have moro then
doubled, while last year payments Of rcarly
5000, 100000 were made through clearing houses
which had no existence in 1870
Railroad earnings are also satisfactory. in three
weeks Of December exceeding those Of s0l by per
per cert Eut Pennsylvania and other reports dis
close a great increase in expenses, and the divi-
dcnds declared in lso? are not, on the whole as
satisfactory IA might have been expected from
Tie enormous traffic. about as many companies
rctlucirg or falling ont Of the dividend list rs
were added to il or increased their rates. The
agreement between the Pennsylvania and Read
Ing and the separation between the Reading
and Lchigh Valley render it probable that
siderable changes will soon appear in the coal
business which has been active since the
cold weather came.
In speculative markets hope has had tho up
per hand W]rTt rose ladt week about .
cents though Western receipts for three weeks
have been 5000. 900 bushels, against 1890 900
last year, the visible supply, nearly sO.0OO,OOO
bushels, il 100000 bushels larger than a
year ago, ard the exports in four weeks from
both coasts, -four included. have been but A.
1000 bushels, against 1891, 900 bushels last
year Corn rose only fraction and oats not
nj ALL while cotton was shade higher for
January. In December $4,000 bales less came
into sight in 500 than in 1891, but 1000 bales
less exported. and spinrrrs takings were also
slightly les The quantity Of American cotton
in sight here and abroad is over 1928, 900 bales
and after this date last year over 100000
bales came in from plantations
The exports Of gold last week we're but $780,
900, and occasoncd no excitement. but il il said
that ii lie UmbrIa had arrived on time with the
securities and coupons she brought, the outgo
of gold would have beer larger. January dis
bursemcnts Will be Of unprecedented magnitude
but probably considerable share Of these may
go abroad The imports OF merchandise were
small last week. the Umbria having been de-