New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-31
MONEY AND RI SINESS.

Wheat sells AT the highest point since Febru-
arv. 1892 The average for January will be a
little lower than in that month. but higher than
In any month since. The exports continue large,
Notwithstanding the advance. In seven months
they have been about 13617l 600 bushels, flour
included a quantity never equalled in the same
months except In 1912. when the exports
were about 1jO.ODOooD bushels. But the change
which shows most plainly the enormous de-
ncency Of breadstuffs abroad is the outso OF
corn in seven months about ?i,20oOOo bushels.
against Sl.4O0.0O0 last year. although corn ex-
ports then ran beyond all precedent, amounting
to 1I6 80 bushels for the year. The last
time the world was In great need it took from
this country 80 100000 bushels Of corn in the
seven months ending with January. 1897, be-
sides 30 900 bushels OF wheat: but this
year il has taken over 91.OOOOOo bushels Of corn.
with l3GOOOOOO bushels Of wheat Corn rose
/ ~ cents last week and wheat 3t2 cents. But
the statement that the entire surplus in the
country is only ij.OOO,OOO bushels and that
Letter owns the whole Of it may be received
with at least peck Of salt.
Il is owing to this grain outgo that heavy
balances Of foreign trade continue Cotton ex-
ports have, indeed been S1i.llI bales in Janu-
airy. against 7llI54 last year. but the differ
bales The advance of a sixteenth last week
came I'm spite Of figures 10y no means assisting
for 22i ~ bales have come into sight in thirty
days Of January. against 3137s in the whole
month in 1899. after the maximum crop thus
far; and as the quantity already I'm sight IL
j5OO OO bales larger than in that year. with ex-
ports to date slightly smaller. and takings by
all American spinners only ll1OO0 bales larger
tLara to be
prices not much higher than In February 1879
when the average Of daily quotations was 500
cents Prospects for the future counted then
as they do now in favor o.: those expecting
shorter yield and better prices later The ex-
ports of domestic products from New-York in
January have been s240OOO0 larger than last
year. while imports have been S2.SOOOOU less
than last year. so that, without material change
elsewhere exports would again about double
imports for the month.
The characteristics which usually mark sus-
tanned advance again appear in the stock
market. There is heavy buying 2+19 700 shares
having been sold last week, and the mere ad-
vance IN prices averaging 81 81 per snare for
railways and 81 cents per share FOR trusts is
far less significant than the marked preference
given TO stocks Of which much is known. The
stocks about which everything is left to the
Imagination covered less than an eighth OF the
transactions last week. New-York Central led
with 229,OO shares. and the eight most active
railway stocks covered liza $40 shares while an
extraordinary number Of remaining stocks were
purchased, yS2. 600 shares OF III Issues The
proposed consolidation OF Vanderbilt interests
had great influence. because II regarded
as a sign Of the completion OF preparations by
the strongest interests in the Street for other
movements Of farreaching character The re-
markable success OF the Rock Island refundinG
plan and the coming arrangement In Louis.