The herald., 1893-11-05

the anticipation of repeal, and the
happy union OF Vanderbilt, Jersey Cen
tral and Lackawanna interests, gave the
stock market three happy dave. in which
stocks rdee an average Of 81 so per share
and trust stocks $3 so per share. and
the sales for the week have been 2.2b0,-
600 shares. But on Thursday there
came pause. Traders were taking
profits, of course, but more important
fact was that London emptied about
$3.500000 worth OF stocks on the market
RAPIDLY. This Tin dicsted less confidence
on that side than had been anticipated
in the recuperative virtue OF assured
Legislation, and coming go soon after the
Vanderbilt purchase, suggested whether
its effects upon trunk line and coal. car
rying roads, though obviously encourage
ing, had been in all respects appre-
hended. This selling raised the rate of
exchange in the face of the announce
ment that 100000 gold had been
shipped hither the same day from Lon
don, an operation which might have
paid better in prices obtained for stocks
than in any other way. A fact of real
encouragement is that railway earnings
for the third week OF October show iR-
crease of 8 per cent over last year, the
first increase for long time. Notwith-
standing the large sales, the market con-
tinued unusually strong. In other spec
ulative markets, in spite of monetary
comfort and bright prospecta. gains
realizsd were small. Wheat rose 2
cents, although Atlantic exports fell to
100000 bushels for the week against
100000 bushels last year, in part be-
cause western receipts were but $685.
900 bushels against 8.900,000 last year
But corn declined an eighth with better
reports of yield, coffee declined three
sixteentbs. pork products made only
slight gains, and cotton fell quarter,
receipts being $4,000 bales greater than
last year.
as yet there is eeen only continuance
OF tbs faint and slow increase in distri-
button OF products which Ice been no.
ticed for some weeks. Nor does even
this gradual revival in demand extend
to all branches. Most of the increase
yet eesn in cotton and shoe manufacture
may be explained by mere exhaustion
in stocks OF dealers, as frequent requests
for immediate delivery show, but there
is also reported by dealers q somewhat
better demand from consumers, and four
more cotton mills have started and
stopping or decreasing. A similar de-
mand has increased by elk the number
OF hosiery and knit goods works in OPP
Grafton. The. shipments of shoes from
the east in fonr weeks of October are 28
per cent lese than last year, against 80
per cent in September. But, against
eight comparatively small woolen mills
starting, five have stopped, including
one one OF 5000 and another OF 1000
hands. There is little sign of increase
in the demand for goods; the recent de-
mand for medium worsteda has cub
sided, and clothiers are doing hardly
more than enough to prepare samples.
The total sales of wool at three chief
markets, including several million
pounds believed to be for speculation,
have been 9,207, 1852 pounds in three
weeks, against 2l,075.000 pounds last
year.
The New York banks still accumulate
money, and commercial loans are more
largely aeked and obtained. This en-
aDles merchants to take goods out OF
bond, and may increase custom receipts,
which have amounted in % daye oil
October to $40, ,2US ,09l, against 1885,.
$50 for the full month last wear. Ap.
parently the months decrease will be
about 25 ner cent. Internal revenue
has been better maintained, in the same
time $1l 1852, ,528 against $l4, l52, ,99l fol
the full month last year. The treasury
gold fell to nearly $8l, ZOO, 900, but has
since risen more than million, pension
payments decreasing.