New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-14
MONEY AND BUSINESS.

Expanding industry, business larger tnah Se"i
ago. easy money, increasing railroad earnings anu
lower rates at the Bank of England, have made
tho mast week not happy one for the calamity
waller. or for the suppostitious individual VINO
is short 100000 shares Of stock, IL he exists.
Whether there is any such person, the ablest
etatstician or banker has less absolute 1nformar
tion than the cheapest specuatOr Borrowing
rates in this country do not disclose many traces
OF him! but wise men in the Street know that
he is borrowing in London. Whether he exists
or not. the stock market last week was more dis
eliminating and generally stronger, for while
twentyone out Of sixty most active stocks declined
during the week; and five were unchanged, thirty.
four advanced and the average OF all rose Az cents
nor share. Trading in bonds was large, and
indicated considerable demand from investors
who will have many millions disbursed in in
forest. dividends and profits within few weeks
to come. 80
But the calamity waller we have always with
rs AZ any rate, and his cart load Of bills offered
at the opening of Congress last week would lead
one to suppose that without his interposltlon The
country must go to the dogs. Elsewhere than IN
his mind the evidences Of present or approaching
disaster are hard TO find The Department report
shows that farmers are getting higher prices than
usual for their crops, and while the movement
increased. receipts of cattle have even exceeded
| last years great record, and receipts Of cotton
| are undated Last week the receipts of wheat
at Western ports were about a quarter less than
those of the previous week, but exports
considerably larger, and the December
| price advanced Q 3-8 cents Corn rose l "a
cents on pure speculation, but oats declined a
| fraction. Chicago receipts of grain: cattle and
hogs have been the largest ever known, removal
of foreign restrictions having increased the demand
for pork products. In November 20,940 cars
| of live stock were received against 27,23S last
year.
| Cotton receipts at the outports exceed last
years for December thus far by 10000 bales.
and exports exceed last years by $4,000 bales for
| the same time, but the price has not changed for
spot, though December options are shade lower.
| With over 100000 bales coming from plantations
every week, and commercial stocks at fourteen
ports and thirty-One interior towns amounting to
1;7s4,341 bales, against ,21s,555 year ago, it
is not strange if Southern resources are strained
and general business in that section rather de-
pressed But exports have long exceeded last
years almost every week, and the aggregate for
the crop year. well Of the takings of American
| spinners. is now larger than year ago. Other
| commercial movements have been on q large scale
| coal shipments exceeding last years by IL per
cent for the year thus far, and boot and shoe
shipments from Boston also exceeding last years
for the latest week reported Oil did not change
during the week, coffee was little higher but
raw and granulated sugar were q shade lower
The general level of prices has declined and is
now 1.2 per cent lower than at the end OF
November, and per cent below the same date
last year when prices were at their highest.
| Another sign Of Importance Is that the output
of pig iron has again increased, and was 103, 0Os
tons weekly December I, according to the record
Of The American Manufacturer" of Pittsburg
against 102,743 November l. The output fol
the last half-year has been ISL ,234 tons weekly
| against I73,427 for the same part of last year
| which il continued without reduction unit
January would mean an increase Of 200, 900 tons
In the half-year's output. Yet the market grove
more active and s><idy in price. for, though some
Southern pig is sold at prices equal to $40 2t
here, for No. l. and $i4 for forge, the bar and
plate demand Is better, and the rail mills have
already booked orders for more than 6oO,O OC
tons for next year. In view OF the intimate
connection Of other industries with this, the
strong tone in the face OF an unprecedented and
increasing output is evidence not to be despised
When prices of commodities are low and tend
ing downward there is always much disappoint
ment about the state of trade because margin.
are narrow But the distribution OF several hun
dred millions ut the West and South already fol