New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-10-31
MONEY IND BUSINESS.

MONEY IND BUSINESS.
| The people who havo been PRAYING for calamity
| are disappointed. In spite OF the near approach
If In. Presidential election the volume Of business
| il laryrr than wns ever known in October or any
| other month. The banks have begun 10 gain IN
r~crvos through return Of money from tn" In
! terror. and merchandise exports in October have
| largely exceeded imports. Manufacturers have
found slightly stronger markets for products.
The belief grows in business circles that the pco-
pie are not going to vote against q continuance
| Of the prosperity they enjoy. and there is less
anxiety about tho possible effects Of the election
| than at the close Of any other Presidential cam
paign for many years
The Western receipts Of wheat wcrc over 0000,-
| 900 bushels last week, notwithstanding the un-
prcccdcntcd blockade OF railroads. and in five con-
| s.cutivr weeks hay" leon NOR than -, 900
hm.h.ls agains. less than 81 ,OOO, 900 bushels for
| the sam" weeks last year. Exports from both
| coasts. flour included. have been l4,09l, $40
| bushels. against l4.e33,s5l for the same weeks
last year Ii is not strange that all estimates Of
the wheat Yield are distrustcd in view Of the I'M
prcce.lcnted receipts and prices have fallen to the
| lowest point known in this market. In
| 1887 only - l.. cents quoted for No. red
| in August and in ssi the official quotation shows
| only - cents December 10. though some public
records mistakenly give the lowest price that year
| n, Is cents. No quotation ~ low ~ &c cents
| b" found until the record is traced back To OctO-
lrr. Iesj. when North River wheat sold at -
| cents. Last week sales made at - IS
| cents. and in sptc ~ considerable buying for
rAp port thousands Of bushels in elevator were soil
AZ - cents or lower. With moro than c.OoU,-
600 bushels in ia" visible supply and 9.OOO.oo0
| bushels per week coming from the farms, IL i,
| difficult 10 bcli"v" the yield lOo,OOO,OoO bushels
| smaller than that "f last year
III" cotton market has declined Il shade during
III" last week, notwithstanding the reports Of
| frost at III" Sonth and receipts far below those
Of last year. During III" month only ZOE. 900
lalcS have com" into sight. against ,D4j,0
| last year exports have been ajl,OoO bales less
| and American spinncrs hav" taken 10000 less.
| and stocks Of American cotton here and abroad
are nearly 100000 bales, while a great strike
II English cotton spinn"rs Is expected to lessen
consumption quite extensively after November
The great shrinkag" in rccrptss already
nearly a million bales, leads many to accept lower
| estimates Of the Weld than hitherto, and the
consumption in this country IS now. and scems
| likely to hr larger than ever. Oats. corn ana
| hog products have been n shade lower bnt OK
rcpting in cotton and wheat speculation is not
active.
'Fli" great industries all give proof Of
tnn'sl prosperity. Iron meets better demand
and is hrmcr with Southern grades less freely
offered. and IL is believed that stocks are diminish
ing. tn" demand for rails is still small, but bar
iron is moderately active: for plates there ia "a
large demand. and manufacturers of structural and
sheet iron are crowded with orders II il tho
growing belief that consumption will enlarge and
prices strengthen. unless the election should
a.. = al,,. .l:av 81 Al,
mcnt TIL" cotton manufacture has all the work
it can do. and the Fall River mills have bccn
making very satisfactory returns for the quarter.
Many Southern mills pushing competition with
Northern mills in finer qualities Of goods thar
heretofore. M adverse change Ia seen in the
woolan manufacture, though the recent celchrl-
ton diminished trading for short time, but the
increase in the sales of wool since the new clip
began 10 COME forward in May has been a. 800 900
pounds ~ per cent, and the wool markets
| seem n shade stronger. Paper has advanced
cont for fine, and quarter to half cent for
hook aud other kinds, the demand being heavy,
while rags ARE not in large supply. The boot and
shoe industry, 10 is said, has not for many
years, il ever, known such demand" and actual
shipments continue to hurpass all records
To these evidences Of business activity may be
added the records Of railroads which have earned.
according to reports thus far published for Octo-
her, over 3 per cent more than last year, which
means moro than in any other year. But for the
extensive blockades. which leave many railroads
without cars, and have forced some of the largest
to refuse to take freight altogether until their
yards can he partly cleared, earnings would doubt
less be greater. 1t is q singular fact that the
greatest cor famine ever known has occurred just
when calnmity walters ore especially anxious to
make people believe that business is stagnant.
The actual payments through all clearing houses
outside Of New-York were 10 per cent larger last
week, and for four weeks OF October have been
fully 10 per cent larger than last year, evidently
airpassin. even the unmatched record Of October.
800, when exchanges were the largest ever
known in many months. The South far shows
decrease OF less than half Of one per cent, the
East an increase Of over per cent In COMPARE
son with last year, and the West an increase Of
over 3 per cent.
A few weeks ago there was some anxiety about
the money market but thir hns been entirely re-
moved. The New-York banks gained about $780,
naa In saah and oYas SI.5OO.OQ0 In suYplus NJ