New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-12
and there Is little doubt that the total Will exceed
the amount named In the proposed approprla'
MONEY AND BUSINESS.

| canDre, by operators whose resoui.e" " "
their vest pockets, and who might be wiped out
by a fuctuation OF per cent. prevalence OK
timidity is natural 1t takes more sense than
some such traders possess to realize that STOCK
! market is not actually weak which has not de-
clned at all during the last two weeks taxing
the average of the sixty most active railroad
stocks, but is higher now both for them and Tor
| trust stocks than 1t was March 20, In spite OF
war stories floods the decision Of the supreme
| Court its delay of rehearing. and fear OF gold
outgoes TO pay for swelling imports Such
market has In fact shown surprising strength
! The people who are able to hold stocks to any
! extent are not throwing them overheard but
quietly pick up what scared persons drop Their
reason is that the scares amount TO notnihs'
while the movement toward better things is real
The war scare Is foolishness. More Euro
! peans would buy American stocks. as the satest
| investment for the- money, than would sell
| them IL war should become serious. Damage by
floods is real, but limited. The flooded regions
are not populous, and II water subsidies in time
may yet raise good crops. The Supreme Court
decision has rendered positive service by COM
polling the great capitalists, who really control
railroads and who's, interests are the same, TO
exert that control and stop the nonsense OF
underlings The increase of imports would in
l
In view of all the wild stories told by telegraph
and otherwise about the vast fleets which have
been leaving European ports loaded down with
goods to anticipate the tariff, one Is apt
TO infer that an astonishing number Of vessels
must have foundered within the last month. The
imports al New-York for two weeks have indeed
been larger than last year or in 1879. but only
81 300. 600. which does not nearly make up the
heavy loss in March compared with le3o. For
the quarter ending with March total imports
are closely known, and are about S2OUOOOOO less
than last year The increase for two weeks
past covers goods started before the provisions
of the Tariff bill were known which make new
| duties applicable to imports after April l.
| Whether even a moderate increase will continue
| in spite Of that provision is yet to be seem
| Meanwhile the exports are not decreasing, as
| is usual at this season OF breadstuffs. cotton,
| OIL provisions, cattle and hogs the exports in
March were valued at $40, OG4, 100, against $46,
| 7S0926 last year. which indicates an aggregate
| of about $79,OO0,OOO in March. exceeding prob
| able imports by about S1OO0O.OO0. These chief
exports In February were 1854 in value.
| practically the same In March. Were the
| increase Of imports for two weeks to continue
| through April II would not overcome the excess
| of exports in March last year. which was S12.-
44C1GS Last weeks exports were small. but
| about the opening of lake navigation there Is
natural halt to take advantage Of lower outward
rates and the break in wheat has already In
duced considerable buying for export. There
is still remaining part of the accumulated ster-
ling exchange, also. which will suffice to meet
any adverse merchandise balance. bankers
reckon for another month or more, unless the
conditions of foreign trade materially change.
A fall of about cents In wheat during
single ,yeel, would be sensational IL 1t had not
been we'll known that for months past specu-
lative cllques were carrying enormous guam
titles. in the notion that the false reports
current last winter must have enough truth In
them to send the price back TO % cents or so.
But such hopes have been cruelty treated by the
facts Of commerce With exports of corn more
than double those OF wheat for the last quarter,
while the wheat known to be available is By no
means insignificant in quantity. though less
than a year ago. the day OF unloading could not
be long delayed. There may have been, as
usual for some time past timely leal: IN the
Agricultural Department warning spectators
of a report showing condition April decidedly
better than year ago. and the same as In 1870.
since the general result published Saturday
could doubtless have been told by somebody in
the Department as early as Wednesday. when
the chief break came. The Western receipts
have become nearly as large last year, 1871
| 40 bushels against 1,JS1 1913 last year. though
bad country roads still hinder. Atlantic exports
were for the week 1,521. 122 bushels. flour In
| cluded against 961.5 J3 last year. and for the
first quarter Western receipts have been 21.7I1,-
| 5i2 bushels against SO 155J72 last year. At
lantic exports Of wheat -four included, were 30
| 027417. against % 161 1908 last year. and At
lantic exports Of corn were 63,94S. 791. against
| 81 ,15i, AIS last year
The food. have helped cotton eighth.
| though the demand for cotton goods does not
| increase nor suffice TO lessen the accumulation
| Of goods unsold. and great auction sale or
! ~ 800 pieces has been announced. Spinners
| takinss have been 36O04 bales this month,
against 1929 to date in 1890 and since Sep
| tember ! only 1,4539o2 bales, against l,"23,293
| from the large crop then. The decrease In
quantity coming into sight has been still greater,
but the elaborate Department. report now states
| that there were in planters hands. warehouses,
Gins congresses and depots. exclusive Of ports.
!4J4 800 bales February l. and that the crop
was s.534.S $50 bales. This is so near the larger
| commercial estimates of late that II has some
| what more weight than other reports from the
| Department for some time. Eat prospects for
| the next crop now influence buying rather than
any belief about the remaining supply.
| The industries have been retarded by many
| things The Illinois and three other steel works
have been closed ny strikes delay In making
| prices and contracts for lake ore binders buyers.
who expect lower prices for finished products,
| and the accumulation Of unsold pig closes some
furnaces Besscmer having declined to SO at
Pittsburg and Grey Forge TO ~ %, the lowest
price on record. The stubborn holding OF
leather at prices about 10 per cent higher THAI
a year ago detcrs many shoe manufacturers
from accepting orders al such prices as dealers
now feel able 10 pay. and shipments from los
ton falling below those Of 1S.". 1874 or lsO2
The cotton manufacture is doing fairly we'll
and for women's dress goods the woolen mills
have encouraging orders, advancing prices Of
some per cent, while even in mems wear the