New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-13
MONEY IND BUSINESS.

STOCK
gains Such inconsistency is usually the result
Of previous unreason, and in this instance
stocks had been lifted too much on the repeal
Of the Silver bill, so that even the result OF the
elections was able to sustain them only day
or two. end the close was about 81 rer share
lower than a week ago. Apparently the first
impression was that the complete political
oyerturning would prevent meddling with the
tariff. but it was presently perceived that the
Free Traders had learned nothing from events
and that in any case, a prolonged discussion
end uncertainty would be injurious to business
On the other hand, domestic trade RECEIVERS
slowly because the depression has teen so
great and so long continued that an increase
of buyng was required merely to meet current
necessities But there is much hope, also, that
the personal interests Of Congressman may
make extreme changes Of the tariff more Diff
fcut than had been expected.
All the speculative markets were weak which
IL the more noteworthy because Of the extraor-
binary accumulation Of idle money for the
York banks now hold Sill, 100000 against
Sll500o,000 a year ago. and their surplus re-
serve is s57S2S7 25. About 100000 gold ar
rived from Europe. and about A,2OO,OOo gold and
currency came from the Interior Loans on all
sorts of collateral were more freely made here
and at other cities and there was somewhat
more demand for commercial loans But prod
ucts were lower Wheat fell to &C cents on
Monday and closed at 66h. with December at
C7Ib cents a decline Of | cent for the week.
Western receipts were 640S, 900 bushels for the
week and have been about 100000 bushels in
two weeks. against 14G0o,00o last year Exports
from both coasts were only 100000 bushels,
and for two weeks only $500 000 flour included,
against 100000 last year. Russia is sending
wheat forward in great quantities, and under
selling this country, and "Bradstreets" return
of stocks in sight is now S6,6O0,O00 bushels.
against SS.S0O,0o0 year ago. Corn was also
weak December declining a cent, and receipts
continue much larger than they were a year
ago. Pork products and oats fell fraction. and
also petroleum. Cotton declined eighth in
spite OF Government report which indicated a
lower yield than any other in the last decade
and asserted that local estimates vary in
range from quarter to three-quarters Of a full
crop" Neither here nor In Europe there
found people to put any confidence in such
report and receipts in November thus far have
been 565 Cos bales. against 545, 9S9 for the same
period last year. while the takings Of Northern
spnners have decreased only 1900 bales. Mean
while the exports last week were very heavy.
making the aggregate for the month thus far
$4,000 bales more than last year
The volume Of domestic trade though con-
sideraby smaller than 1t was n year ago. IS
gaining n little Last weei. the exchanges
through clearing houses were about II per
cent less than for the same week last year; for
the first week oc November the decrease was
about % per cent, and for the last weel. Of
October about &c per cent. Even little i'm
provement is gratifying. SO the earnings OF
railroads in October. reported by The
Financial Chronicle" were only 23S per cent
smaller than last year. and this is more re-
markablc because last year there was n gain
Of about per cent although In the previous
year there had been a gain of about 9 per
cent, and in the year before a gain Of about
per cent. and i'm the year before that n gain
OF about 10 per cent. In August the railroad
earnings showed a loss OF Il per cent. ard in
September about 10 per cert, 40 that the de-
crease Of "a per cent in October marks q COM
paratlve gain Nor is the force OF the COM
parison lessened by the fact that Of the rail-
roads which report freight and passenger bus-
ness separately. tho passenger traffic Increased
PIG per cent for the month of October, while
The freight passage decreased H. per cent for
the losses in previous months were under sim
ilar conditions. While the grain movement IL
smaller than d year ago. IN many other branches
OF traffic the decrease Ia comparatively light.
In November thus far the takings of cotton
by Northern spinners have been about 10 per
cent smaller than last year. The manufacturer
Is sustained by fair demand. and larger sales
OF ginshams and staple goods reported. The
business In rubber products IL actually larger |
than last year. and the mills fully employed.
The shipments Of boots and shoes from the East
also improve shade; during portions of Sep
TENDER and October they were 80 per cent below
last years but for the last two weeks the de-
crease has been only Is per cent. and there are |
noticed somewhat larger sales OF leather. The
wool manufacturer shows very scanty improve
ment. and yet the sales Of wool at the three !