New-York tribune., 1899-08-14

TIT WEEK N WALL STREET.

THE WEEK IN WALL - hhhA'
,r,o ,,os, serious adverse factor in the sI'ua-
has been eliminated. in fact II was pIac
.toouv the only adverse factor. Ihe matte.
,a~,ad N was the termination last "eeA u '
Inch IN money. The week had scarcei! op"e
before money began to flow into a" o"
- ho,o,e i, had closed money had lent on caIl
. o. ,ar ce,, Most OF the loans made on FIJI
dav which stand until to-day were ''aUe
ner cent or within a fraction OF 'ha' i"'
-, ,be hank statement came out Il showed
az far as Il was capable Of showing 'na' ~
bad been a better adjustment Of the MONEY
position. ~ l., -. great
oro, growing regions Of the West, have oeeH
largo lenders OF money In New-1oIK VIII"
,roves that there Is money enough anu ''0'e
than enough in the West 10 move the crops "a
scarA was worked UP in money by tax '"a'
there would be great stringency "he" '"'
time came FOR the crops 70 go forward II "da
6Aclsred that New-York would then De Cd"eu
rnon bv the West for such large sums tha' tHsfe
crould be A money panic at this centre ol tAV
next thing 10 H. What has happeneo; A"7
West has not only not drawn upon -1otH'
I'm, instead has supplied NewYork with FUNDS.
Ho, only had the West more money tnah i
needed for handling the crops, hut 1t found
,oo-s profitable employment for its surplus here
,ban a, home Another development Of the I'M
mediate future probably VIII be the release OF
money that has been boarded in apprehension OF
trouble Since it has been shown that there Is
no cause for alarm there is no reason Tor longer
kAepine money locked UP. The amount put
away in idleness is large. II IS Of course I'M
possible 10 give anything Ike even an approx
mate figure but II unquestionably runs far into
the millions.
pretty fair notion ot the outcome OF the
crops can be obtained now that the Govern
ment report has been issued To begin win II
should not be forgotten that both winter wheat
and spring wheat in 1899 compare favorably
with 1895 when the crop q winter wheat was the
largest ever grown except in 1891. and when the
yield Of spring wheat the largest on record
In the Government report the Indicated YIELD
Of winter wheat is 274jiOGDO bushels, OF lVo,-
2G7 29l bushels less than the actual yield last
vaar In the report tho indicated yield Ot
spring wheat is 2G0 $4,000 bushels or 81. 13l Ala
bushels iess than the actual yield last year For
both kinds Of wheat. therefore. the indicated
Weld Il l4999S 70J bushels less than the actual
Weld last year Il is interesting al this point
70 note that the total wheat crop indicated in
the August Government report last year va,
81 g6s 1Oj bushels less than the actual yield.
In other words in the Government report the
actual wheat crop % 1895 was underestimated
by 10 per cent and this may prove 70 be the
case this year
In the Government report the indicated corn
crop Of 1893 is 2 203 2VDVD bushels. The larg-
est crop ever raised was > 22S3 SO 1Gj bushels in
1896 The crop In 1895 was l924 | ~ go bush
els. The crop indicated in the August Govern
ment report last year l,996GS40 bushels
or 725V0GGO bushels more than the actual crop
There has been gain in the condition Of corn
h.. inf n .svr.Tt COL
lected for the August Government report 80 II is
not improbable mat the great yield N 1896 Will
be exceeded. The winter wheat crop was made
when the July report issued. and the spring
wheat crop made when the August report
was issued Not until the October report Is
compiled Will the corn crop be made. Receipts
o! old wheat and corn from farms continue
enormous. wherein is found a suggestion that
the yield Of these cereals Will turn out . Dee
greater than the Government report indicates
The farmers would not part with their old grain
a. this time were they not sure Of abundant
new crops. and were they not satisfied that cur
rem prices were about as good as they could ex-
pect 10 obtain The exports Of wheat and corn
have fallen Of somewhat which i not at all
surprising In view OF their immensely recently.
As soon as the stuff sent abroad has been dis
tributed there doubtless will be another eXpan-
sion in the export movement. Stil. with the
falling of. the outgo Of wheat has not dropped
below last year. and the OutgO Of corn has kept
considerably above last year II is evident that
the exports OF corn Will grow from year 20 year
until they exceed In value they already do in
bushels. the exports Of wheat
Exports OF IRON End steel have been reduced
simply because % the difficulty In supplying the
domestic demand. Production. however IS be-
Ing Increased. and IL will not be long before
ports can be enlarged The time is not distant
when iron and steel will lead exports in value.
The high prices that have ruled have been a
great incentive 70 enlarge the output. and the
effect Of the enlargement is perceptible In the
more nearly stationary state OF prices.
Railroad earnings which constitute a trust
worthy barometer OF trade, are fully main
tained. The gross earnings Of the railroads OF
the country. so far as they have been reported
are about - per cent better than last year and
10 per cent larger than n 1892. which " as the
year OF largest earnings UP 20 ls9s The so
called granger railroads continue 10 make the
best showing. Their gain for July :2i1 per
cent. The Pacific roads came next. and they
were followed first by the Central Western roads
and then by the trunk lines.