New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-09-28

now promise OF extraordinary business. inc price
| fell sharply Delaware and Hudson also oechneu
| "a 25, and some other stocks less Union RACINE
foil at one time 81 25 on information that credl
tore uere not agreed about the plan Of treating
the floating debt. which was therefore likely TO
| fail. but recovered when the success OF the
scheme was announced Yet accounts Of the
company's condition were not calculated TO JUS
tify high prices. and in view of its possible
troubles Southern Pacific rose S5. Northern
Pacific preferred 81, Oregon Navigation SO 80,
while Lake Shore rose 81 so. Michigan 81. and
Pullman So In general investment stocks were
strong, but the market begins to discriminate, as
it well might after rise Of 81 0 per Share for the
whole list.
The saving Of the corn crop, by continuance OF
exceptionally favorable weather, caused the other
sensation OF the week Though corn closed but
? cents lower, and wheat / 5-s cents and oats
l-s cents for October. the free movement Of
grain was greatly facilitated. Western receipts
were warning TO all who hoped for artificial
prices, amounting to s254 ,535 bushels wheat, and
in four weeks to 3o,962, 66l bushels, against
lO,042,2oe for the same weeks last year, an
evidence that the Alliance controls not many
farmers. Exports Of wheat, -four included, in
the same four weeks have been about 20,500,000
bushels from Atlantic ports alone, against 3,95l,-
062 last year, and recent sales foreshadow heavy
shipments near at hand The prices now prevail
ing, though high for recent years Of large yield,
do not seem eXtravagant in view of the many
accounts from Europe, which do not improve.
Pork products declined little, with corn coffee
was somewhat lower, and sugar unchanged But
cotton rose SIG on numerous private accounts
Of injury TO the crop, although the receipts for
the week were 2l6,3s6 bales SURPRISING the
phenomenal receipts for The same week last year.
The crop is little later than year ago, and for
the month receipts have been 506,622 bales,
against 5S6,458 last year, but the decline in eX-
ports has been considerable. since they amount TO
i47,714 bales, against 269,128 last year, and the
akings Of Northern spinners have also diminished.
There at least chance that the reports of injury
to cotton will prove somewhat exaggerated, as Is
usual in such cases
The volume Of domestic trade, measured by
bank clearings outside of New-York, continues TO
exceed last years, about per cent for last week
and per cent for the month thus far. marked
improvement in tone and in demand is seen in
iron and steel products, though no change IN
price is yet realized. When it is remembered
that the weekly production Of pig iron is only
$50 tons less than year ago, the output being
at the rate of s,6s4, COO tons in year, and only
$500 tons in year less than 1t was September |,
1890, the condition Of the market indicates an
enormous consumption. The cotton manufacture
is also well employed, with slight advance in
the prices Of few fabrics, and though the cot
ton taken by spnners since September is smaller
in quantity than year ago, the mills naturally
using up part of the large stocks brought over
from last year. No change appears In the wOollcI
manufacture, the demand for wool being steady
and but little below last years in New-England,
though it is noticed that the better qualities Of
wOollens and hannels arc in greater demand,
while the mills that are engaged upon cotton warp
or low-grade goods have less TO do, and some OF
them are closing. The demand for carpet wool
was noticeably improved last week. More activ-
ity is also seen in boots and shoes. and on the
whole the industrial situation is decidedly cheer
ing.
Treasury disbursements have not equaled the
large shipments the interior by New York banks,
which amounted last week to $4,000, 900, so that
the reserve was reduced about S4,100, 000 But
gold has begun TO arrive from Europe, 100000
coming on Saturday and S8,sO0,OOO more is
on the ocean, to arrive within few days. These
large shipments, in spite of all that has thus far
been done by foreign banks TO retard the business,
strengthens the impression that the imports of
gold will afford substantial and very effective re-
enforcement 70 the American money markets this
fall Last week imports at New-York were larger
than n year ago, but for four weeks the decrease
has been So ,446,000, or l-2 per cent, while
the. exports from New-York in four weeks have
been 1876 900, or 80 per cent larger than fol
the same weeks last year.