New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-23

oreratiors in Whislkey, Chicago Gas ana ousar
had much 10 do with the bank statement Inc
coal stocks and Granger stocks were remarNn"'y
strong. and reported railroad earnings for January
thus far exceed last years by As per cent.
Cotton further declined about an eighth our
ing the week, but recovered fully, although Tue
receipts from plantations for the week WHY
larger than for the corresponding week last ye"r'
while exports were only half az large Inc IT,
ceipts from plantations for the month"; nov"
ever. have been 100000 bales smaller. ana cN-
ports 1000 smaller than last year, ana TAX
iugs OF American spinrers $4,000 oaies saaiici'
or not half as large, Stocks OF American co'-
ton in sight are 1896, 600 bales III THIS co"h'
try. against $4,000 last year, l,3oo'ooo III
1891, and ,O34, 900 in 1890, and In Europe III
Guiding cotton ahoat, stocks OF American axe
1913. 900 bales, against 2,314,000 last year.
l.530,000 In 1884, and 100000 IN 1871 iho''
comparisons are important, because so many pco'
pie carefully ignore the fact that STOCKS Wous'
smaller than last year. are 100000 bales mere
and nearly 100000 bales abroad greater than
the normal stocks ut this time Of the year
persistent sfatsticien for speculative purposes
now prophcsies that the crop will prove only
6, 900 bales, although $4,000 have already
| come into sight including $4,000 in three
weeks Of this month The COURAGE OF such u
prediction il TO be admired. The SPECTATORS
chief resource is the faculty of forgetting that
enough American cotton is actually in sight ior
the worlds consumption for six months
Wheat declined / 50 cents last week. while
corn rose 81 Of cent. Western receipts or
wheat since August last have been l60,OO0,OO0
| bushels against 100000 600 bushels for the same
part of the last crop year. when the stock III
motion, according to official estimates. was lo,-
600, 900 bushels LARGER than that Of 1897" EX-
ports il threc weeks from both coasts have
been 0.5j4,GO7 bushels, -four included against
| 14.O26s4O bushels for tho same weeks last year.
Bradsrects" calculates that the quantity remain
| ing in farmers hands March will be 100000
| 600 bushels, and the stock now in sight in this
country is 00G3l 900 bushels, against 64.0S5,ooo
| nj date last year. Then the visible stocks were
| decreasing 100000 bushels q week, while now
| they are increasing 700, 900 bushels n week
| Even If the yield of 500 is not greater than
| Government estimates. the surplus at the end
OF the year Is 10 he large, unless the foreign
| demand changes greatly.
| The volume Of business indicated by bank
| "learings ontsde New-Yurl has been % per cent
| larger in January than at tho same cities last
year, when the aggregate for that month was .
per cent larger than in any previous year.
| Business cannot Pc said to Re stagnating 10 any
alarming CNtent while -ucli srtltinehts continue
even though part Of them originated In last year
| transactions The Official statement OF iron pro-
duction in 1892 has just been made by the Iron
| and Steel Association, namely, 0lj7,OOO gross
| tone only about % 900 moro than The American
| Manufacturer" estimated. But therr was also q
decrease Of 9O2l, gross tons in unsold stocks SO
| that the consumlti)n OF American pig was about
Q241 900 gross tons. The greatest consumption
| in any previous year. including imports, was but
| s942,925 TONS III 1890, and tie greatest ever
| known in Great Britain was about 100000 TONS
| Foreign commerce SHOWS decrease OF 49,
| 100. 600 in experts in December and 1884, Ooo0o
| in the year 1872. while imports increased Sl,ooo,-
600 in December and sls,o00000 in the year
| 'Th, net exports OF gold were Sll 100000 IN
December and $50, 100000 in 1882, and the ncs
exports Of silver rose 10 the extraordinary amount
| " SO ss5s6s in December and ~ l,@i9,osZ LOT
| the year. These figures have an important pear
| ,nr upon the question whether Congress can
afford TO permit the Silver Purchase act to remain
| in force II also appears from MI valentine
| annual statement that the decrease IN quahti"y
| Of silver produced last year was only ABOUT
| ucr cent The great increase Of tine Mexican pro-
duction is likely TO d"prcss price, fur'her IL
Congress ras TO stop purchases and it Is clear 'a'
| the one present danger which threatens tue
prosperity Of business springs from the buying OIL
silver and tie loss Of gold.