New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-06-10
HOSFY md BUSINESS.

The foods NJ Johnstown and WilllamSport and
the FIRE nt Seattle have destroyed lhrg" amount
OF property, and in the work OF rebuilding thou-
sands OF houses md scores of bridges, miles OF
railroad trnck and many locomotives, cars, fur
naccs and machinc-shopS and renewing the house
hold and personal supplies Of many thousand
people who lost everything, new demands for
lnbor and products are felt. But those who count
upon such demands ms bnsis Of property reason
about as wisely MS II they should proclaim re-
yiyal Of business because several thousand collins
had been ordered in Pttsburg The destruction OF
property is not blessing II II were, the country
would not he cheered by the later adviccs that
neither in loss OF life nor In destruction Of prop
erty we're the recent disasters as great Ms have
been reported. lie immediate effects in Penn
sylvania include larger demand in iron and
steel markets but. when the mcmcntary and I'M
natural stimulus has passed. II Is safe TO say
no one will find real and lasting Improvement
resulting from destruction OF wealth.
The basis OF general prosperity Is production, and
the best news OF the week is that the acreage IN
cotton has increased per cent according to The
Financial Chronicle and the condition Is bet
ter and also more advanced than n year ago.
With full yield, such ns that OF $780, about
lo4 pounds 10 the acre, the present acreage would
give q crop about 20 per cent greater than that
OF last year But the lack OF rain In some quar-
tiers foreshadOws something less than n full crop.
Information rs 20 grain continues favorable, and
the period OF danger has substantially passed ~
70 a considerable portion OF th' wheat while the
grass crop for the year is likely IN he reckoned
among the largest. In manufacturing production
there is les, evidence Of expansion at present,
though because the past increase has been dis
propOrtiOnatc.
W. lnN,aH apAN o.Na
show that there are still in commercial hands more
than 80, 900, 900 bushels Of whent alone, besides
-four in the hands Of dealers and consumers and
wheat held by farmers. Exports have fallen be-
low last yenrs again, and probably will not reach
100000 bushels for May, flour included. Corn
is unchanged and oats and pork products shade
lower, with cotton stronger by n sixteenth, not
withStanding the excellent prospects for the next
. crop. Receipts have fallen 10 almost nothing, and
exports n third below last year OH Is little
weaker, while sugar is hoisted in spite
OF the returns OF large increase In
European beet production In wool the aver
age Of l0l quotations is 249 cents against
2i3 May LIST, 2l.6 year ago, and % cents in
1887. The Improvement may be attributed 10 re-
cent Treasury decisions, az least in part The
average Of prices for all commo tiles has risen q
little in May but not mush rs many nntirip td
Neither the iron nor the woollen manufactures
are now the scat OF especial anxiety and hr cotton
taken by American spinners for nne months rx-
ceeds their tallngs for the same months OF the pre-
pious year by 43, 900 bales. Wcollcn mnnfactur-
ers look for an Improvement in goods rs soon rs
accumulated imports have been distributed. Pig
iron does not advance, and large sales OF Southern
ut former prices are reported but sales Of rails
continue at hrmer quotations, and there is
stronger demand for structural plate and bar iron,
merchant steel and nails, with advance already in
some grades. The anthracite coal holders ire tenn
porarily helped because part Of the soft coal sup