New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-23
NfnNEY IND KESINIEE

The loss and destruction of property by Hoods
n. the West are said 10 amount Ia many millions.
Railroads have sustained much injury and LOST
much traffic, though 1t is safe TO guess that their
returns will not show 10 some estimating that
they have lost the equivalent OF two months net
earnings Nor is IL quite e be credited that all
the seed ha, been rotted in tlr ground 80 that
there will be no wheat raised in large part Of
the country, though some damage of that sort
has douhtcas been sustained. Tho tendency
usually is to eNnggrrate the consequences of
every such misfortune. hit il is not the less
true that the business of the year and its crops
must lc to some extent affected. Fortunately
tie grea, surplus Of cotton and wheat will render
even considerable decrease in the yield Of either
rather beneficial ilsn harmful. while it is Yet
uncc rtain whether the yield Of the other great
crops will b. much reduced by the rains and floods.
This at least is certain, that the railroads have
been doing large business during most Of the
period + excessive rain. The Financial Chroni-
ccs" returns for eighty three roads the first and
forty-l,e the second week Of May aggregate
per cent more than last years, in spltc Of the
fact that wheat receipts have been reduced nj
Western points IL Is also true that rains and
floods cf which there was much complaint
%cck and fortnight ago dill not prevent larger
settlements through clearing houses than have ever
bcen known in the first half OF May except in
1870, the increase over last year being ~ per
cent, and for the third week the increase seems 10
have lrcn about Per cent AT the Fast the
gain small, but very large al the West, and
even ia regions where prolonged rains have caused
most trouble gains appear, while at the south
the decrease AZ almost every city is considerable
ard also at san Francisco. Neither have manu-
features In any important branch been pcrceptibly
affected and the distribution Of goods at the
principal Western centres is fully equal TO or
greater than a year ago. Receipt. OF cattle at
Chicago for the year thus far have been l,20S,000
head against .033O00 last year.
Receipts of wheat have dimirishe.. at thu West
bat exports large for three weeks exceeding
| 900, 900 bushels, -four included, from both
coasts Yet the price CLOSED 10 u fraction the same
a. the week before showing mielliecn: apprec-
alton OF the great surplus. IL the country should
raisc 30 per cent less wheat than last year. it
would still have a greater supply than has ever
been consumed and exported in any year except
the last. The situation to cotton is the same
no change in cash price resulted last week though
exports for the month thus Tar have been 5000
bales greater and receipts from plantations IL.
600 bales less than last year. The stock in
sight here and in Europe is still nearly $780, 900
bales against about 100000 bales in an ordinary
year. The yield this year might be cat down
more than n quarter and yet the supply wonld
apparently exceed all probable demands Later
accounts. too, are n little less favorable to the
idea that the acreage will he greatly reduced.
The furry in corn was purely speculative, but
oat1 synpathizcl BY rising cents, and pork prod
ucts were little highcr.
Evidence of The prosperity of one great industry
is giyen by the dividends declared by Fall River
mills. which have been for the second quarter of
the current year l.s6 per cent, against l.3i
last year, and for the two quarters J.33 per
cent against 2.Js last year. Instead of per cent
FOR the year, the mills will apparently clear over
q IL per cent, though prices OF goods have been
and are about az low rs ever. Similar evidence
regarding other manufactures is not obtainablc.
but the woollcn manufacture has been taking wool
more freely of late, though apparently not de-
parting from the policy OF buying only against
orders for goods actually received. The boot and
shoe industry is Just now pressed with orders, be-
cause, tie price Of leather having advanced little
already account OF the action of tanners, many
imagine that the manufactured products OF leather
will also become dcarer. The shipments OF boots
and shoes from Boston now ahead Of last
years to date.
The granite cutters strike, and tie various |
supplemental or assisting strikes have raised the