New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-06
,fONEY IND BUSINESS.

oor,o topother last week, and the STOCK mar
hot with its usual disregard OF expectations
docIined Monday and Tuesday, ana Ialed 10
recover Yet the repeal was expected 10 heP
more quickly and surely in the STOCK market
than anywhere else. The average OF railroau
stocks closed 81 OF lower than the week pe-
60 ord If trust stocks 81 81 lower, nor was
tho linuidation confined to few actiVe s'ochS'
Ar,arentlv the fall came just because every
bodv had expected higher prices, and had car
cnlotod TO realize on them. 1t was particularly
,nshoor,oninr 10 some that London sold quite
largely. so that those who had looked for extern
st,,o foreign purchases as n consequence Oh the
c,lver bill found no help from that quarter
what FOREIGNERS may do later is yet TO be SEEM
,, ot tho outset the sales Of 100000 shares
Monday and 100000 Tuesday were in part on
foreign account Exchange was quiet ana even
eilver after falling to 3lisd., reacted to $50.
per ounce Saturday
The markets for products were also Wea"'
Wheat fell to els cents. over cents lot '"e
week although receipts at Western ports were
about as usual. 6.4iS,lOO bushels FOR the Week.
and exports about the average for recent Weeks
In the last five weeks the quantity exporter
from both coasts, -four included. has been ~
g49s77 bushels, against 1S.i0o,lS last year
There 10 az much talk as ever Of scarcity and
shortness Of crops. but the markets eViuehuy
have little faith in these stories Corn was
shade higher and also oats but pork products
were weaker as well coffee, and in general
the abundance Of money and the removal oil
anxiety about legislation did not affect the
| snocuIatiye markets as was generally expected.
Cotton was an exception. rising S-lo'hs
with reports Of injury by frost. The actual re-
ceipts from plantations since October nave
beon 1so3l35 bales, against 1,614,40O last year.
and the exports only Sl73l6 bales against
7s315o last year. while the Northern
SINNERS have taken only 2O7Oo bales
against 2726s2 last year. Thus the
stocks Of American cotton in sight nave IN
creased more than In the same month last year.
But with cotton. as with wheat, the markets.
have been rendered rather Indifferent to ordi-
nary considerations by the magnitude OF STOCKS
in sight, so that the question has come 10 De
one OF speculative force rather than OF Judg'
| ment
IL Is somewhat a disappointment that there
appears as yet no substantial improvement
in the volume of domestic trade Inc eN-
changes at all clearing houses outside New
York were 2i2 per cent smaller last week thah
| I'm the same week last year. although transac-
tons were then somewhat restricted by the
near approach Of the Presidential election
The earnings OF railroads for three weeks Of
October as far as reported amounted to s23,-
3,22l2 against $24 2i59s2. a decrease Of about
a. per cent and the heavy travel on account OF
the Fair being ended. It Is anticipated thar
| future returns may be somewhat less favor
able There is no other department OF domestic
business in which SO little decrease has APP
pearcd az In this. But with smaller crops 10
come from farms, smaller consumption OF coal
! and other materials In manufacture and smaller
| distribution OF manufactured products to con-
sumers. n further shrinkage in the earnings OF
railways would not be surprising.
The condition Of manufactures could hardly
be expected TO improve much as yet even by
those who suppose silver purchases the only
cause of misfortune. In the textile branches
trade has not improved. and more mills have
stopped than have resumed work during the
last week. the explanation usually given being
that orders not yet sufficient to keep all the
mills fully employed. Prices of cotton goods
| are firm. and print cloths have slightly adj
vanced, but there Is not much change In the
| general demand. In woolen goods there Is
| scarcely any business In progress, and spring
goods quoted ~ to 10 per cent lower
| than n year ago with very little buying. a
| few worstcd and dress goods mills at the East
were buying wool last week. and the aggregate
| of saes at the three principal markets rose to
Ass 800 lbs. against 1856 1868 for the same week
last year. but the total for four weeks Is still
only 13.GG1.Gj2 lbs. against 29.O3l,963 for the
same weeks last year. In boots and shoes
little more demand is felt. the works are some
what better employed than before. and the ship
ments from Boston. according To THE Shoe and
| Leather Reporter" approach those OF last year
more nearly. In the iron and steel manufacture
a decline Of s. per ton Is reported In the price
and steel are quoted at little lower prices
while billets have recovered Il shade. But pig
iron seems weaker, with considerable pressure
TO SELL although the published reports do not in
dictate that there has been any large addition
10 the weekly output. Many hopes have been
INDUCED Of speedy revival Of business as soon
az the silver question was settled. and the tone
Of the market is actually more confident but
there Is as yet evidence of an increased de-
mand for products.
The course Of foreign trade has not essentially
altered Imports at New-York last week were
$2,C39,OOO. or over 20 per cent smaller than those
of the corresponding week last year. while ex-
ports continue TO show small increase. The
excess OF exports over imports for the month
Of October viii be quite large and imports Of
gold might naturally be expected but for the
selling Of securities on foreign account The
banks of this city. having now resumed theft
separate reports, show 1868 s66 600 cash on hand
while the surplus In excess of the required re-
serve is more than So. 900 O0O notwithstanding
the increase Of Sl4Oo0.OO0 in deposits last week
For months 1t has been said that 1t was not
| money. but confidence. that was lacking and now
there would seem to be no reason in the none
tary situation for lack Of conndence-except-
ing the fact that Congress is going to meet
! again next month
| We observe with peculiar interest the fact
that the Hon. Patrick Gleason. of Long Island
city and the Universe, is running for a couple
| If Offices this wear. with the intention OF fill