New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-09

The record in 1850 far exceeded that OF any
previous year. The increase in number OF clear
ing houses has largely transferred settlements from
old and important centres, and yet the seven
| chief cities are doing more than IN any other
| year exccpt the last the minor cities are also
doing more, and the decrease from last year,
only 500. coo, 900 in amount is relatively small.
As the exchanges of October last were never
ecualled in any other month, SO those Of October
this wear have never been equalled iii any month
| but that If trade is lifclcss now, it would seem
To have been more lifeless in nearly all the past
history OF the country. Granted that it halts
at the East, while rising at the West. Farmers
have sold only part Of their crops es yet to meet
debts Perhaps unwontcd economy may be ex-
pccted after year or two OF trial. But their
increased purchases should long be felt at all
centres.
They are getting good prices. Wheat rose
3 is cents last week, in spite OF Western re-
ceipts of 36,9S6,643 bushels in October. against
tls.4s4,IO2 bushels last year. Exports were u
little larger last week, and in October from At
Iantic ports l5,500,000 bushels, against 1000
900 bushels last year, -four included Corn
rose cents without discoverable reason, and oats
21-4 cents Cotton fell eighth again, for,
though receipts and exports for the week fell
4 little short of last years, the quantity coming
1,723,759 last year, while exports were $4,000
baIes smaller Coffee rose little, but OIL both
! crude and refined was lower. The fall in print
cloths below 3 cents October 81 makes cotton
goods rather weaker, but some grades OF wool
are in better demand. As before pig iron remains
unchanged and rails are held firmly, nut IN some
forms of manufactured iron the lowest prices
ever known were made last week, and large
contract for steel beams for building in this
city was given to foreign makers
The great industries show few weak spots
Iron consumption must be almost great as the
moximum ever reached, because the enormous out
mt does not depress prices. Cotton splnnerS
lbave taken as much cotton this month as last
wear. and considerably more in October, though
last years consumption was per cent greater
than ever before. Boston shipments OF boots and
shoes in ten months were 2,992,4s9 cases, against
Os 400 last year, which is less than the probable
Western increase. Receipts of cattle at Chicago
were phenomenal last year, because corn was
lacking. but have been 372, 900 head in October
this year, against $4,000 last year. In the
woolIen manufacture. prospects are considered
better for the coming season, and fewer concessions
are seen in wool markets. When it is considered
that all these comparisons are with state of in
ldustry aud trade year ago, which was decidedly
the most active ever known, the idea Of stagna-
lton appears not quite accurate. Let anybody
TRY to cross downtown street, and notice the
jam of trucks and carts, particularly about the
ferries, and it will dawn upon him that
business must be active.
The fountain of disbursement is the stock
Speculation. Wall Street is full of men who
bought stocks for great rise, and cannot get back
ltheir money After an average advance OF $l0.45
per share, from July 81 TO September 10, it is not
lstrange that more want to sell than TO buy. The
icause of the Maverick Bank failure was the col.
lapse of reckless spcculations but when it oc-
Icurrcd the average of all stocks was but $l.62
per share below the highest this year, and it fell
S2.02 per share further last week. Even now
prices are higher than az any time this year be.
fore the last week OF September, but when q
speculative craze finally draws in the multitude
il usually admits them at prices which, like
naughty Stories do not bear repetition. Crops
are large, and money abundant, but people have
Iother uses for their money than to buy securities
The farmer has mortgages and debts to meet; he
has supplies and machinery TO buy. When the
mortgage holder rescues from hostile legislatures
the money he has feared TO lose, he does not rush
out TO invest in securities of companies which the
same legislatures may ruin. In general, the eX-
pansion OF Industries and the carrying of enor-
nous crops require many millions.
The railroads are doing well, showing a gain of
IS IL per cent in earnings for October, and their
peacemakng last week may I've even more
valuable. But the debts incurred in time of mis-
fortune press some companies sorely. The first