New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-03-21
MONEY AND BUSINESS.

IT is noteworthy and somewhat surprising that
the anxieties about war have scarcely dis
coverable influence on the course OF Industry or
legitimate business. The movement of actual
products to consumers is not disturbed, nor is
the activity of any great industry checked or
lessened The money markets grow more strong
and confident and the payments through clear
ing houses show increasing gain, compared with
the best Of previous years This is the more
instructive when the effect Of speculation here is
eliminated. Omitting New York. the payments
at all other cities in February 2.3 per cent
larger than in the same month Of ls92 but
in the last three weeks they have been
81 567 900 600 against 81 393 100000 in 1892 or
125 per cent larger. The course Of foreign trade
is highly encouraging. also. Within week the
February report has disclosed S41.OO000O ex-
cess Of exports imports. and while the i'm
ports at New York in the last three weeks have
been $4,000 larger than last year the
ports from this city IN half Of March show an
increase Of S5,S75,513. or 80 per cent. Such
changes continued through the month would
mean another excess Of more than S40OOOO
on the side of exports.
Indeed there have been some indications that
the returns fall below the actual increase. be-
cause the movement of wheat and -four from the
imagined that Letters operations might have
caused an unnaturally large outgo from At
Iantic ports which has been in three week5
I'LL 6SS bushels -four included against 3 S3l, al
last year. but the exports from the Pacific
Coast in the same weeks have been 3.51I 49,
bushels. against sl13O2 last year The exports
have now been since July | about $4,000 900
bushels. with three ard onc-thlrd months left
or ha and he n n
rate which would make the aggregate about
214OOOOOO bushels for the year. The net result
Of all changes in the market here was an advance
Of Ia cents for the week while corn weakened a
little although in three weeks II l24,OI0 hush
els Of this grain also have gone out. against
1850 401 last year.
Another week has only increased the proba-
bnity Of a great surplus OF cotton. and the price
has not changed. Comparing with 1898. when
the crop Of nearly 100000 bales was being
marketed. there have come into sight In egh-
teen days ot March no less than 4i3.4JS bales
against 4O1 J22 in twenty-five days Of that year:
the exports have been 527.902. against 1913 1872
in twenty-five days. and the takings Of spinners
North and South have been l9S100 tales
against 10000 in that year. After March %
there came forward $4,000 bales in 1893. and
as much added TO the 9.Ssj.6 62 bales in sight
this year on March Is would make the crop
10 sci 600 bales. But il Is superfiuous TO
say that the worlds consumption has not
reached such a figure. and the various estimates
OF reduced yield are constantly balanced
against the prospective surplus.
Big exports are now followed by heavy pay
ments in gold. as has been anticipated for
months. European borrowing and the readiness
Of bankers to retain millions of foreign exchange
/ hero as collateral appeared . q
! carrying at interest OF balances which excess Of
| merchandise imports early this year would
| surely meet. but the excess OF imports does not
come. SO S1lS26ol6 in gold has already ar
rived at New-York. over $ljOo0OOO more has
been ordered from Europe. and 100000 on
London account from Australia, and stu there
l are known to b ethis city large amounts Of