New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-04-26
MONEY AND BUSINESS.

gin on tuesday with SlUoUoVo W '"Pp'' "
needs of Austria. which Londoh anu
New-York house will realize the sum Oh Fo-'' ~
1912 30 each. The bankers who do most Of the
exchange business determined early IN the weeh
not to move gold without substantial profit IN
the operation, or unless there should De CON-
siderable selling Of American securities on for
egn account. The sales OF stocks APPARENT!
by London when the market there was closed
were practically balanced by purchases APP
parently by London as soon as it opened More
over there has been as yet no unloading OIL
American bonds nor any lack of investment de-
mand for such securities. The imports OF mer-
chandise have increased largely, 1t is true, but
rot enough to balance known exports Of prod
ucts and exports OF S3472.000 silver from this
port in April Nor have old accumulations OF
sterling exchange been entirely exhausted. IN
der such circumstances. the outgo of gold Is
simply foreign borrowing.
The price OF wheat has risen sharply, Tor
May delivery about six cents here. closing but
a fraction below the highest point reached
in the furry on Monday. No important change
in actual exports yet appears. though large
purchases for export have been made. Atiah-
tic exports for three weeks. flour included
have slightly exceeded last years-5'ooS'l'o
bushels. against 3.453.619. The total exports
from all ports since July l have been about
124S0O 600 bushels. including -four and 1t VIII
surprise many to find that greater quah''!
of corn has already gone out for the crop year,
namely. 49,. 1861 bushels against 'oo1o'oot
last year The practically unlimited supply
available will tend to restrict the foreign de-
mand for wheat, as It has done for months put
dispatches state that there are already at san
Francisco four ships waiting for new wheat
with several more to arrive. There Is also con-
siderable wheat held there to protect May con-
tracts which will be exported as soon as they
are cancelled.
Cotton has made an advance OF sixteenth,
which is so far the only rise since the war be-
gan. Official statements showing that Hooded
districts produced nearly 100000 bales last year.
with indications that the floods may not supside
in many quarters early enough to permit crop
to be raised, were in part balanced by evidence
that n larger acreage was being planted in
other parts Of the South. The counties reckoheu
a. submerged cannot be equally affected In al!
parts nor is ii to be expected that no cot'on
will be raised in any of them, so that the actual
loss from the flood may be abou. balanced by
relatively small gain in other regions raising
5000 900 bales Although some beached goods
have been advanced In price the demand Tor
tons since the great auction and print cloths
are NOT higher The financial trouble in several
New-Bedford mills may not affect consump-
tion but discloses that they have been accumu-
latinC goods far in advance Of demand
After placing Of initial orders. the selling or
voollen goods usually falls TO the minimum. and
uncertainty in regard to the delay of the new
tariff has prevented the continued demand for
which some hopad Manufacturers are not anX-
ion, to sell largely urtl they can determine what
nrices will be- and the rush of goods into the
country on consignment indicates that foreign
connection for this season will he important
MOI by manufacturers. to any large extent out
bv speculative dealers purchases OF wool sun con-
tinue amounting the three chief cities to H.
600 900 pounds for the week, and In three weeks
sales have been 81 036 500 pounds, including b.
$4,000 pounds domestic 1t is stated that I'M
ports at Boston for the week were 32.0UO hales.
Prices are not advancing further. though AT the
West much above prices AT seaboard markets
The struggle between leather and boot and shoe
interests still to be turning in favor or con-
sumers. as some heavy sales of union sole leather
are reported a. prices below those publicly quot
ed and there Is slight decline in some grades or
shoes Shipments continue slightly less than in
1886 or 1896 and hides little lower.
Pig iron goes still lower. prices reported being
for Bessemer 50 80 at Pittsburg. for Gray Forge
$3.50 at Birmingham, and for billets scarcely
over S14 while angles have reached one cent.
and Il is said that rails can now be had at SIS per
70, But there are more structural orders COM
ing forward 5000 tons of rails were sold during
the week by Eastern mills. wire and nails are in
strong demand and unchanged. and wire rods
cannot be supplied fast enough, and several more
works have resumed making black sheets for tim
ming The fact that the production, including
work on enormous orders placed when the vari-
GUS pools collapsed, is now quite near the maxi
mum is often forgotten because the demand
does not yet reach the capacity OF works so that
prices are still depressed. Though no season con-
tracts for ore have yet been made, very low
prices are expected.
The imports of drygoods were more than double
in value those Of the corresponding week last
year. though they probably involve scarcely any
payment for some time To come. 1t is different
with imports Of wool, sugar and tobacco, and the
increase in other articles than drygoods has been
about SC 100000 in three weeks at NewYork
The increase in exports Of cotton is about 20 per
cent. and exports OF corn in quantity four
times and in value three times those of last year
for the month, making difference of about So
100000 in these two items. but other exports do
not appear TO have increased much in April The
Treasury is just now receiving gold so fast for
duties that some exports would scarcely affect
the net stock Of more than S155,WO,OOO; no with
drawals Of specie followed the alarm about war;
and the banks here gained last week about ST.
100000 from the interior. Money markets con-
tinue comparatively easy, with narrow demand
as vet for commercial loans.
The Greeks defeated In the field but not
sbad In rnirif