New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-26
MONEY AND BUSINESS.

MONEY AND BUSINESS
| II It were not the conviction in business circles
| that the Vacuum bill would be vetoed the past
week would probably not have been dull Be
| licving that veto and better times were COM
! ing men who were not forced t. do something
! NJ once were content TO walt. Stocks We're stag
nant. closing only 16 cents per 800 higher than
| the week before with about sales enough out
| side OF the Trusts to make one active day.
Trusts closed II cents per 800 higher. with con-
! siderable sales and some depression In sugar
and some advance in Whisky. but nobody i'm
AGNES that trading in these things reflects the
general condition Of business. Fat monopoes
! do not necessarily mean public prosperity. In
the produce and money markets trading was in
significant in results. Those who believe In bet
ter things waited. and those who did not lacked
courage to gamble on further depression. with
prices already so low There was less doubt
! about the consequences Of a veto. Those who had
! dreamed Of boom to follow imitation had
! learned better But after its usual fashion the
Street forgot the tariff agitation which has
caused disaster in thinking Of the Vacuum Dill
which has threatened disaster.
| Some find Il hard to reconcile the numerous
reports OF resumption Of work with the records.
which show that business is still far below IT'S
usual volume. They forget that It's depression
has been very great. They forget also that az
| this season just az a great many FARMERS anu
gardeners resume work in the fields. many manu-
facturcrs and dealers have to prepare goods and
buy samples unless they are going T. quit bus.-
ness entirely The rhythmical rise and fan 81
activity in many branches must continue
whether business as whole Is on a higher or
lower level and the expansion incident TO the
season may or may not indicate any recovery
~ what has been lost To determine how much
IL means Is sometimes very difficult, especially
when the manufacturers themselves cannot de-
tcrminc whether the samples they send out are
to bring in orders enough to keep them running.
The acreage sown may or may not indicate the
size OF the yield More business Is being done
! than I'm either Of several previous months, IT Is
probable. for this IS the season when more has TO
! be- done but whether the proportion is greater
| than usual for the season cannot Yet be de-
| cided Comparisons with last year do not as yet
| settle the question.
Payments through all clearing houses in March
| thus far have been about 81 per cent less than n
year ago. and the decrease In February was -
and I'm January % per cent. Payments are now
about sl53 100000 daily against $223 100000 last
year and $2Oj 900 900 the year before. The I'M
| ports OF foreign goods are about % per cent
| smaller I'm March than last year. but customs re-
ceipts have been only $9.2ii.7ll against $l62I5-
500 last year. decrease Of 43.2 per cent No
especial Improvement Is seen In railroad earn
| ings which show Il decrease OF l. per cent Tor
the first week Of March and li6 for the second
week compared with last year. the decrease In
February having been 1913 and in January 1925
per cent. The gain is not large enough to war
rant any conclusion. Evidence equally clear Is
| in DO ha ret which show a
tnued accumulation Of idle money. In Janu-
ary starting with 2O7.OO0O0O. the banks added
$40 900 600 against s 900 last year and 500 OOO
OOonl 1892 In February. after parting with $4,000
600 turned over to the Treasury. they gained nearly
s. 900 900 cash. though last year they lost S2O-
600 900 and in 1892 they lost $s.0O0OOO. In March
| thus far the banks have again gained over &c.
coo O0O though last year they lost S3.OoOOoo and
in 1892 about 81 900. Instead of the increased
demand for money which is usual at this sea-
son there appears increased accumulation Of
idle funds.
In four weeks II 42j $50 bushels Of wheat have
gone abroad from both coasts. -four included,
against II 1877 500 last year; but with prices rang
ing only a shade above 60 cents the only wonder
| Is that more Is not exported than was taken last
| year with prices averaging about 10 cents so
| It Is not strange that farmers forward wheat
| slowly when the price is so low. Only 22OOO,OOo
| bushels have been received at Western ports
this year. against nearly 3S.0O0.00O bushels last
year to date; the only wonder Is that so much
comes forward. The price yielded last week
nearly a cent a corner on the Pacific coast hav-
ing no perceptbe influence. Corn was strong
and steady, with large receipts. but large ex-
| ports also and pork a shade lower. Cotton
advanced a sixteenth. Notwithstanding the guam
| tlty which has come into sight this month Is
300 932 bales against 1885 last year and the
| aggregate to date since September !, 6,13i.54l
bales. Is already 1874 900 bales larger than the es-
| Inmates recently made by "Bradstreets" and
others for the crop of 1893. Stocks in sight here
| and abroad decreased during the month $4,000
bales against $1,000 last year. and takings OF
| Northern spinners have been 60 635 bales against
| IS 500 for the same weeks Since September
| the quantity taken has been 262 900 bales less
than last year, or about 20 per cent.
The iron industry is rapidly expanding produc-
ton in the Pttsburg region being favored by
new freight rates and at Chicago but the ship
ments OF Connesville coke still II per cent
smaller than year ago, and the number of ovens
Is about sixth less. With the additional fur
naces In operation the output Is probably about
10000 tons. or two-thirds OF the maximum In
some products prices are weaker than ever and