New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-11-20

In November last year trade was especially
IA rye I'm the first and last weeks, and the de-
crease though considerable. Is not discouraSing.
The railway earnings speak less clearly De-
cause the passenger trade in october was IN
usually swclled. and "The Financial Chronicle
finds a loss Of Al per cent for the hrst week oi
November against 2.SS per cent In octoper
But separate returns Of freight earnings by
.run's Review show decrease Of only l0l
per cent for the first week Of November against
10 per cent I'm October The indications 90
not show much gain, but whatever chahse
there Is points in the right direction
The Industries give better evidence or I'M
movement. though the signs Of last week may
not be maintained. Thus. shipments OF boots
and shoes. according to The Shoe and Leather
Reporter" were but per cent less than last
wear though not long ago the decrease was
"a nor cent II Il stated that nearly all works
are now receiving orders. though by no means
ne large as usual at this season. The cotton
mills are also meeting a somewhat improved
demand for goods though as yet the takings
OF Northern spinners fall = per cent below
those for the same week last year. ana as
much FOR the month thus far. In wool at the
three chief markets an exceptlonai week
sales-53 81 pounds. larger than IN any o'her
week since last February-actually exceed those
of the corresponding week last year, thoush
for three weeks Of November the sales have
boon i27u67l pounds against l9.346.55S last
,,a,ro Ioss of % per ccnt--but this is the first
month Cor a long time in which the sales nave
becn half as much they were last year
There appears only slightly increased acuVitY'
mainly in worsteds and some other mems goods
The breaking Of the steel rail combination by
the Carnegie Works has not only put down
IN hs
soline at $40 at Pittsburg but has stimulated
the demand in that region for ore and COKE
and there are some large contracts made for
cast nine and structural iron. But 4 less ia
yorable symptom is the reported closing OF the
Edgar Thompson works at Braddocli for the
lack cf orders While more iron is being made
and worked up than In October. 1t Is not yet
clear that half the capacity Is engaged
The moderate and painfully slow recovery
In industries il retarded by the approaching
session OF Congress. at which new tarim Dill
Il to be reported. ana it will be noted that de-
preston Is greatest and the recovery most slow
I'm the great industries which are especially
defended by protection. As to the building
trades the season has been favorable one Tor
late work. that rather more has Deen ac-
complished than seemed probable two months
ago but Notwithstanding the abundance or
money new undertakings fall far behind last
years In foreign trade, too. there IL only
slight improvement. imports for three weeks
here having been $22.S55llS against s31l5S,943
last year, and exports for two weeks of Novem-
her have been Si4550 Ill. against S5,lIl,OS6 last
year. This decrease in Imports causes heavy
shrinkage in Governments. receipts. which for
the first sixteen days of November were but
s55l5272 for customs and s6.ol6.i6s internal
t,,,t no for no
same period exceeded receipts by $t,925.739 and
the reserve has fallen to the lowest point ever
known
Treasury payments and the receipts from the
interior have swclled the bank reserve to $751;
GAL 800 and the surplus to $65470..'5. whereas
AT the largest point after the panic of 1884 the
surplus WIGS S6!. $4,000. IN 1885. Yet the abun
dance Of money does not help speculative mar
kets. Wheat fell to s. cents, over cent for
the week, receipts for three weeks having been
within coo bushels as large as they were
last year. and exports from both coasts, flour
Included, having been only S,Si942o bushels.
against 1l,543.924 last year Corn also fell
cents with large receipts, and oats z of q cent,
while pork dropped 81 per barrel, and lard "
cents per 100 pounds. Nor did cotton escape.
for the price fell S-l6 with receipts from the
plantations for the month thus far 100000 bales
greater than laat year. exports l0'0Oo bales
smaller. and takinss OF Northern spinners Cs,OOo
bales smaller. Al official or other nonsense
about II great decrease In yield loses its force
In the markets when confronted with such facts.
The stocks Of American in sight here and abroad
now 3.2i2,O0o bales and will soon he AZ
large IA they were last year, apparently. n
decline IN sugar and also in coffee has made
the average of speculative prices unusually
| la with, Ia I'm Not
money. but more industry. and more confidence