New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-04-03
MONEY AND BUSINESS.

The last week has been one Of rare and extraor-
binary excitement in several quarters. There
does not seem 20 be great deal OF doubt that
the powerful and conservative operators, who
were observed picking up stocks carefully
fortnight ago, have matured plans for something
more important by far than a little squeeze In
shorts The average Of prices for the sixty most
active railroad stocks rose last week 81 81
share and the week before It had also risen
81 76, so that I'm two weeks the average has ad-
vanced from SO OF to SO % The Industrial
stocks also advanced. endeavOring to make up
last week for their exceptional decline the week
before so that they also record for two weeks
rise Of So CO. The sales last week were Of al
most record-b breaking magnitude. but this time
the steadness and unhestating rise in many
prices were more impressive than the frantic
operations which caused over a quarter Of the
sales TO be made OF two industrial stocks.
1t counts for something, and rightly may.
that the possibility Of a brief monetary squeeze
about April has been avoided The April set
Elements are not all finished II is true and 1t
usually takes some days for the money sent to
the interior to return through the various clear
ing houses. But while looking for
higher rates Of interest for q short time for that
reason, and also because the outgo OF domestic
products no longer holds exchanges as steadily
as before 1t is not to be forgotten that greater
balances against Europe and In favor Of this
country than ever before must yet be somehow
llquidated before the United States will cease
to hold its position a creditor nation.
The increase Of imports continues heavy,
amounting for the last week alone at New-Yorl
to $4,9O0,OOO. and in four weeks Of March i'm
ports were valued at SIS057 557 against S3s.-
3G3177 last year. 1t is gratifying to have the
IA Nv
worth observing that such an increase continued
for three months this year has done much to
balance accounts because Of short move
ments last year. and inspection OF the recent
drygoods returns shows that In nearly oil quail
ties except woollens the imports are running ma
terlally ahead Of last year. But the most seri-
Gus threat 20 foreign trade balances comes from
the striking decrease in exports OF cotton and
some other principal products, whence IT comes
to pass that the exports from New-York I'm four
weeks Of March were Sc 900 600 smaller than a
year ago
The shortage Of cotton exports does not quite
deserve that name even yet. because the aggre-
gate OF exports to all foreign countries from the
beginning OF the crop year to April has been
n little larger than a year ago But In the
month OF March exports have been only 3GT 4Gl
bales against 81 224 last year. The receipts
from plantations were considerably larger than
IN February. G32,563 bales. against 405,574.
which goes far to support the estimate fire.
Quently made during February that more than q
third OF the normal receipts for that month
were probably kept back by bad weather But
now. with Il satisfactory March following
the quantity which has come into sight to date
since September l is only 9.053,6ll bales. against
10 l1SOJ0 last year. The taklngs OF Northern
spinners have also fallen behind, though not
greatly. amounting to about $4,000 bales In
March, against 2l3,O0O In the same month last
year.
But when one turns TO domestic trading In
almost any OF It's phases hating opinion seems