New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-05-14

few Of them having natural gas for fuel, ana
c,asevorks in the Pittsburg region and other
manufacturing works there and at the west
NTH many railroads are much embarrassed
The moderate advance in prices of products I'M
der the present conditions is little discouraging
because It would hardly have been supposed
that nearly a third of the producing capacity
could have been cut off without greater advance.
In other Industries there is no such chahge'
though sales of wool have again fallen below last
years and some textile mills have stopped pe-
cause supplies Of fuel have been interrupted
The markets have fallen back into state OF
great dulness, in spite Of the well~known iact
that nowhere near seasons supply OF eoouS
has yet been ordered, for clothiers DO not Kho"
what goods they Will be able to sell next winter
IN competition with foreigners, nor can manu-
facturers guess what quantity OF goods or par
ticular kinds they afford to make. Those
goods fare better which sell more directly to con-
sumers. such as dress goods and fannels, as
these NAV vet be marketed and paid Cor before
foreign competition is felt. but in all depart
rlcnts alike there is anxiety not to be caught
with unsold goods on hand which foreign i'm
ports may render unstable. The fatal feature
In the woollen manufacture Is the proposed al
valorcm system, which makes II SIMPLY impos-
sible to guess al wha: prices imported goods may
he inyoiced and taxed In the shoe business there
IL more hopefulness, and a somewhat better de-
mand is seen Most cottons depressed,
mainly by the error Of producers, who have
counted upon larger demand and fuller re-
covcry Of business than have appeared But the
finer cottons are affected. like woollen goods.
with the disadvantage that the pending bill
does not defer for them the date at which 1t Is
10 take effect
The gold actually owned by the Treasury has
again been reduced below S90.OO0.O00 and yet, as
some saw there is no alarm Perhaps for that
reason there is more danger. 1t is absurd 10
say that repeal Of the Silver act has removed
the danger that the gold reserve may be eX-
haustcd or that holders Of notes may begin TO
draw gold instead Neither Is there any certainty
that another offer Of bonds by the Treasury VIII
meet success. since the policy OF the ADMINS
tration to the income tax and other revenue
measures has been disclosed At present the
heavy redemption of notes Is 70 obtain gold FOR
export and the shipmenl of S5333 557 last week
i'm excess of imports. however men may cloak
1t with phrases. is simply withdrawal OF Tor
cgn capital which would be gladly retained ana
invested here II conditions were more promising.
Gold WAS coming hither in large amounts until
the election of 1892 Since tina. time exports have
"a
silver by sHe65.I34. in spite Of the fact that
merchandise exports, not including the move
ment In April and thus far In May, nave eX-
cceded imports by sl76.9iS,sS7.
That gold goes ont would be less discouraging
were not staple products low. But wheat
has for the first time in history sold below
80 cents here exports from both coasts this year
having been but 900 bushels. against
co 600 900 last year TO date Cotton sold at IA
cents last week though a sixteenth stronger now,
but receipts from plantations this month are
larger than a year ago, and exports only lhooo
bales larger. Exports Of breadstuns In April
were over A million less than last year, and the
increase In oh ard provisions was probably less
! than the decrease IN cotton. and for some
| months TO come small exports must be expected.
Il IL true that tariff uncertainties keep back the
J Imports which for two weeks ending May
have been IS per cen, less than last year. But
/ the decrease ia all revenue has already been
/ 81 600 for May.
Speculation in stocks is reduced to stagnatIon
by the notion that the tariff bill dictated by the
Trusts Will put up prices OF shares in the various
| monopolIes and that these will LIT railroad stocks
also in spite Of short earnings and great cutting
of rates Money Is also cheap and abundant,
and coming into this city still about So 100000 from
! the interior last week 50 slender Is the demand
! for the uses Of trade and industry. But one can
| never tell when large outgo OF gold may oegih
! 10 affect stocks though at present II seems 10
! have no influence worth mentioning Out OF
! s37 600 shares sold last week. over third Were OF
| Sugar alone and 5OsoOO OF five Trust STOCKS
lse 900 OF seven railroad stocks. and only lfz'OVV
| of all the other stocks sold. washington mar
ket IS not often a sign OF Astounding prosperity.
| perlty.