New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-12-16
POSSIBLE CHARACTER OF THE STATEMENT.


The bank statement is watched for with inter-
est in Wall Street but experts find it difficult to
make any close estimates of the probable show
ing There has been a dimnution of the re-
,cepts of money from the interior and the ship
ments Of So 200 900 gold since the last statement
will be fully reflected in to-day's exhibit II IS
therefore considered possible that the statement
may reflect cessation of the enormous accuinu-
laton of idle money which for weeks mas peen
overburdening the loan market. a renewal or
gold exports is expected next week, as exchange
bills have been sold against future shipments,
hut this is welcomed as an influence which may
help to stiffen money rates. Bankers, however,
are becoming extremely impatient at the delay
in the publication of the annual report or the
Secretary of the Treasury. They are anxious
for some definite declaration Of financial policy
by the Administration, for the relative rates for
money here and abroad promises to assure a
considerable outward flow Of gold, and the Will
ingness of the banks to continue their policy OF
trying to avert a drain upon the Treasurys
balances will largely depend upon the manner
in which Secretary Carlisle handles the fnan-
,cial problems. The Secretarys report is also
awaited with interest in view of Senator Voor-
"silver seigniorage' in the National Treasury
Such step would be bitterly disapproved in
banking circles but it is feared that Mr.. Car
Isle has strong leanings in that direction
Prompt reputation of the voorhees, scheme
would benefit financial sentiment.
THE PRICES YESTERDAY.
The talk about railway earnings and prospects
gave the cue to the bear faction in yesterdays
stock speculation Chicago Milwaukee and st.
Paul was active under free selling. and the
price declined from 631s on THURSDAY. TO 6l7s@
e. The other railway shares dull but gen.
orally lower, even Atchison falling from 1912 to
1S%@1Sa. in spite of the return OF President
Reinhart. with the announcement that his mis-
sion abroad successful. The absence of de-
tail may have robbed Mr.. Reinhart's statements
Of their natural effects The Atchison bonds
were pressed for sale down over per cent The
bears also depressed Louisville and Nashville.
Northern Pacific preferred. Rock Island and
Western Union Telegraph q per cent each. The
only interesting feature in the Industrial shares
the advance of 2ss per cent in American
Sugar Refining. The other inddstrials generally
eased off in price. Distilling and Cattle Feeding
to 27ls@2SA. General Electric which has been
worked up by new bull pool from "a to 1872.
fell to 37A and then was bid up to SSA. The
preferred stock is quoted low 63 the
passing Of the January cumulative dividend and
the difference in market value of the two stocks
is considered curious. 1t Is rumored that the
company contemplates a large reduction in Its
working force.
BUSINESS THROUGHOUT TIE COUNTRY.
The business failures reported by telegraph for
the week to r. G. Dun & Co. numbered 339 In the
United States and forty in Canada, total OF
379 against 427 last week and 30i in the cor
responding week Of 1892. Five OF the weeks
failures involved liabilities Of s2,5oOoOO "Duns
Review" says that ironwOrkers have accepted
lower wages in the Pittsburg region. and numer-
Gus works have resumed. The output Of pig
Increased
by the report Of November to 1888 tons III
December but as yet it IS only 81 per cent OF the
whole output QSl, 551 tcns) last May. Prices are
the lowest ever known. In the shoe manu-
facture new business is narrow. and shipments
from the East for the first half OF December are
25 per cent less than last year. in cotton manu-
facture there is much hesitation. and prices or
leading beached good have been reduced, result
ing in larger sales while other lines are In mod
crate demand. The sales Of wool have fallen of
In the three chief markets. and this week were
only 1882 700 pounds. against 55l9SOO pounds last
year. 1.-The Review has this to say in the way
of general summary:
II Is proof of the enormous vitality or the country
that while mills are stopping In every direction ana
the army of the unemployed Is larger than II mas
starting Up answer the demand which a single
year OF unprecedented disaster has only diminished
Industry IL doing nothing speculation but the |
needs which the wonderful growth and past pros |
supplies exhausted by months Of reduced production
Trade stl waits much as IL cam and vet the |
volume OF business mere hand -to-mouth basis |
is such as would have been called large a few !
II IL ~ per cent less than ago. the decrease
being greater at the West and South. and less at |
the East. Measured by railroad earnings It IL 12G
per cent less than year ago. the largest decrease
senger Increase no longer masks freight decrease,
and partly because OF decentralization in trunk-line
freights. but while the decrease those lines |
is lie per cent IL Is 239 on Western wheat-carry-
ing roads, and PSI on Pacific roads reporting The |
fact that failures continue numerous Is largely !
due TO the remarkable decrease In purchases for |
throughout the country. for Of the |
panic in the ordinary sense little remains and
most concerns would be able to weather the conse-
quence Of last summers cyclone