New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-08-06
MONEY and BUSINESS.

MONEY md BUSINESS.
Two uncertainties instca' Of one now hinder
business recovery. II anybody could Know
whether any tariff bin would be passed and what.
and II anybody could kno's how much the corn
crop had been damaged million business men
would begin - make calculations with some con-
ndcncc Ten days ago IT seemed likely that no
tariff bin would pass. and the crop promised 10
Doe very large 80 that distinct inrr'as" In busl-
noss orders and contracts appeared. ON Satur-
day the markets closed with a v0ciferous assure
,nce that the iarir bill would pass. and with
reports that the Weld - corn had been cut down
500 900. 900 t. .ooo 900 bushels by hot winds
Not until late IN The day was It known that the
latest tariff settlement was repulilted by al
most every body. and it is stu In doubt whether
corn is seriously affected in other states than
Kansas and Nebraska. bat the uncertainty IS
NOT rcfno.-d and meanwhile gold goes abroad
Four States supply about 80 per cent IF fun
corn crop m 1891 Iowa 35l 900 600 Missouri. 2o3.-
100000. Kansas. l420)Jo0O. and Nebraska. 49,
o.DooO bushels There States stretch oyer 700 To
500 miles. from Davonppr, 10 the western border
- Nebraska by the Union Pacific IL ,92 miles;
fr.,n the Mississippi % the western border II
Kansas by IN" Rick Island. Isl miles. and - the
western border - Kansas by the Arhi@5n. 40
miles over hts wide area a great variety -
climatic Influences prevail and IN parts the crop
mn, b. l..troy.! while IN other parts IL may be-
excellent I'm the short crop Ot lS'1 these four
states produced i9s 900 600 bushels Of corn. and In
a.. short crop u 1890 they produced 5l'.OOo.0Oo
bushels. In th, absence u fuller information 1t
,ec,ns sare 70 say that the Increased acreage this
year viii Yield AZ hast ~ 0oD o0) bushels which
would imply a l.-s 81 800 ooo0oo bushels or less.
I'm
opo0p bushes instead Of about 2.loo0o00OJ tx
yr.tol T. compensate for this loss the price
has risen over & cents. or f,r thu whole II the
remaining crop more than 800 900 00o which con-
sum-rs have - l0.- while the farmers lose corn
expected ten days ago - be- worth SlSO,OOOOOO.
At one tim" corn passed wheat. which closed
over a cent higher FOR the week with very
favorable prospects, the Atlantic exports last
week being only half "a large as a ycnr ago
while the Western receipts were - per cent larger
and for the eight weeks IS per cent larger.
Tn. cotton crop continues very promising and
,ho price was an eighth and Is yet a sixteenth
lower Tor the week. commercial estimates rang
Ing above S.o0o0oo bales. II the quantity II
American IN sight does not decrease more In
August than It I'D In July. the end of the crop
year VIII see about 100000 bales carried over.
The market is not helped much just now by the
demand for goods. which is falling OF since
frcighis were advanced on Southern roads. and
since the temporary reduction on beached goods
ended and the lowest price ever known for print
cloths. 2G9 cents. has bon made at Providence.
Fan River manufacturers have directed "A com
mittcc - consider general reduction OF wages.
which may cause a strike. Wool has been largely
bought on speculation. In two weeks l',5'69oO
pounds at three eastern markets. against only
p n 10 l,cf nd = -
I'm 1892 when there WAS no speculation. but all the
mill. were busy Manufacturers producing me-
dunn and low-prced staples for fall trade are
crowded with belated orders. while others find
little 10 do and there is nothing being done for
the spr!ng trade. Never before. probably, have
80 many goods been ordered as late as August
for delivery before the middle Of October. but tho
tariff If IT passes. will nr take effect until
January !. The average for lOt grades quoted
by Coates Brothers. which was 22.1 cents May
l. 1893 and 1882 May L. 1894 fell to 1873 July l5 !
but rose to li2 cents August l.
The iron manufacture gains slowly because
neither the railroad nor the building business Is
in shape to demand as much n, usual. and only |
part Of the concerns which use coke for fuel can |
vet get supplies from Connellsve. the strike
has not yet ended. The structural demand has |
been a little better the last week. So that Pitts
burg beams are quoted at l.3 cents. and there !
is "A larger business In bars. but prices are |
weaker while Besscmer pig and wire nails are a
shade lower. At Chicago there is IA large de- |
mand for pig but the partial failure of the corn /
crop already affects the demand for finished
products. For these Philadelphia finds better |
demand. partly because supplies from central
mills are limited. but at New-York the business !
IS extremely dull The position of the stock mar !
ket affects the demand for railroad materials I
The most fortunate Of the large manufactures Is /
that OF boots and shoes most Of the shops having +,
good orders for some time though mainly for !
medium and ow-priced goods. and the shipments
since June g. given by THE Shoe and Leather !
Reporter" aggregate 3G70% cases against 34O.-
9Ol cases last year. 4i7,7s2 cases in 1892, and
400 3Ol cases in 1891.
OF G52 O59 shares OF stock sold during the week. I
23iOSs were Of sugar and 1899 Of two other !
Trust stocks only 249,S54 OF the eight most
active railroad and telegraph stocks. and l24l5S
OF all other stocks the average for the week
being slightly lower for railroads and nearly 81
per share higher for Trusts. The continued cx- !
ports Of gold 49, $40 having gone out during
the week and the decrease of 26.6 per cent In
railroad earnings for July In this country. would
naturally depress prices II there were genuine !
market but the betting turns entirely on rumors .
o. the latest legislative barter at Washington.
The Treasury gold reserve Is reduced below $o2.-
100000. and customs receipts have been but