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

MONEY AND BUSINESS
1t is getting to he an old story. but to most
people il is yet a gratifying story mat DuSihess
prospects are improving. Each week that passes
without destructive frosts and with fine weather
Dor maturing and harvesting the tsiated
crops. brings assurance of larger yields and pros
rect Of larger demands from farming estates for
imported ard manufactured products. without
reckoning the future, it may be said that the
luaincs; actually transacted is surprisingly large
exceeding that of the came month in any other
year Clearing house and railway returns prove
it. and statements of imports both Of materials
and Of manufactured products, and the move
mcnt 81 domestic products, and statistics of the
great industries. IN short, the dulncss expected
i'm the last month -, d Presidential campaign has
not vet appeared.
The slow cotton movement the small exports
of domestic products and the depletion of re-
snrvcs in New York banks are the features which
have been noticed as somewhat unfavorable The
cotton crop was Known to be some weeks late,
the price is about the lowest ever known at this
scoson, Farmers Alliances have made especial en-
ertioas 10 keep back cotton IA much as posi-
lie, and the great reduction Of Indebtedness last
year enables more planters TO do so. Hence, it is
not strange that receipts from plantations are the
smallest Ger scveIal years. and prices have been
advanced TO s 3-16 cents. The speculation is
Of amazing magnitude. sales reaching 1,47O,2O0
bales last wcci Almost twice as much cotton
sold in a single week at one market as has
come from plantations since the crop wear began.
The movement is further retired b. tie fact
that l,G0j. 900 bales Of old American cotton car
Rcd over in foreign countries has not yet been
used up, that there is less pressure to cX-
nd I,..
smallncss Of produce experts AT prcecnt.
TIL" wheat movement continues wonderfully
large, Western receipts in three weeks being about
100000 bushels, against 100000 for the
same weeks last year. when the yield was the
largest ever known. In spite of the low price
Row about 50 cents against 81 % ii a year ago.
Western receipts in ten weeks have been - ,000,-
Geo luslI"s against about 81, 900 600 for the same
weeks last year. Exports were little larger
last week than year ago, but since September |
have been lo,'00,000 bushels from both coasts
Hour included against 23,s0o, 900 last year.
Such indications materially strengthen the posi-
tion OF those who insist that estimates thus far
have moderated the new crop, as current csti-
mates did last year. and while the price roso
last week srarly two cents. speculation hest
tates. Corn advanced a small fraction, and oats
also, though the weather at the West has been
exceedingly favorable for the saving Of n larger
corn crop than has been expected. Hog products
have also been little higher though hating To-
ward the close.
The banks lost S2,+55,s25 Of their surplus
serve the outgo to the interior being : ,000.-
ooo while thc Treasury to'k in 81, 900 more
gold and 5000, 600 more silver than it paid ont,
though adding about 5000. 900 To the outstand-
ing notes Money is a drug At London, great
l,in, ,.,,o,t.rft,- uptnapnblo
All the interior money markets in this country
well supplied. reporting no pressure and I'M
u.ually satisfactory collections. The belacd cot.
ton and corn crops rctard the return of money TO
Eastern centres bur stronI rate here can hardly
fail To attract funds from Europe.
The one obstacle j. that imports are surpris
ingly arec-n four weeks Of September at New
York 5000. 900 greater than last year, and
in the first week Of October Si.60o.ooO greater
while domestic exports in five weeks from New
York have been 81. 100000 less than year ago.
nearly = per cent. The decline Of cent IN
the price Of cotton and - cents in the pricr of
wheat in part explains tic decroasc The re-
turns OF duties collected show that importJ have
been quite larecly Of dutiablc articles, well
ms Of raw materials, and if domestic manufactures
wc~c Gcpr,s,rl tie outlook might be 1iIcrcnt.
Domestic manufactures arc hy no means do
pressed II i, still true TINT many Of the woollcn
and cotton mills are working night and day in
order - supply tho good. sold. While this i not
ir.r ~ ALL il is stated that tho mills ~ a whole
have rarely If ever been better employed. AMI
they are Lot accumulting goods Shipments Of
boots and shoes reported by TIC Shoe ard Irlth
or Reporter" exceeded by 1900 eases Inst week.
or nearly per cent the shipments n year ago
Cattle receipts at Chicago increased by more then
80 per cent, and receipts OF hides dressed beef.
butter and chcrs', Hour. wheat barley AMI oats
wcrr from two - four times thos" Of the same
week last year. AZ many points railroads find il
difficult to handle freight Offered. The manu-
facturc Of iron and steel is comparing just now
with weeks Of great over production last year, so
great tina: il WAS followed 10y period Of dcrrc,
sion out OF late th" demand for iron products has
improved. especially for structural and plate iron,
and consumption appra.S To "Nc9c the Production
OF pic 80 that markets are stronger in ton".
All these evidences Of actvt-'in dom"rt tie indus
try and trade are sustained by records of payments
through Clearing houses outside Newly ork, which
show an increase for the first week In October
of - per cent over last year. In SEPTEMBER
and nine months Of the year exchanges ut ten
principll cities outside Ncw-lOrk and at all other
citiee gradually Increasing in number, have been
for eight years in millions
Ten Cities. All Others.