New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-10
MONII IND HESINES.N

The first week - December does not disclose
any important changes in the business situation.
excepting the cxpor; ~ {l.2iO.0J0 gold. following
somewhat important sales - stocks By European
holders This shipment. coming closely after
the sale %, bonds IL not altogether encouraging.
but Il may be- that the 81 900 900 gold which was
Imported from England about two weeks ago has
u rely gone ba X again with trne more. Com
mcrcal bills ar scarce. and the sale Of securities
has undoubtedly furnished sufficient reason FOR
exports NJ about s. 500 900 gold Imports u mer-
chan llsc at New-Y0rk FOR the week are smaller
than year ago but for five weeks are S.sOO,OOo
larger about II per cent. while exports OF mer-
chandisc from New-York about Is per cent
smaller than last year. Other business indcs-
lions are essentially unchanged. though there ia
the customary sackcning " production toward
the close - the year and a good many concerns
ar.. already engaged "A little earlier than usual.
In stock-iaking and repairs. The payments
through clearing houses for the arst week ~ De-
cemb-r are sc per cent larger than year ago.
and AT that time transactions were declining last
year aud also In 1892 though the decrease I'm
comparison with 1892 IL now 1914 per cent. In the
month - November AL exchanges through the
principal clearing houses were Is per cent larger
than last year bat Pa per cent less than In 1888,
Manipulation u stocks has been particularly
audacious during the last week and has occurred
an advance Of II cents per share In the average
for sixty railroad stocks and 81 o. per share In
the average FOR Trust stocks. The Sugar opera
ton and the dividend declared explain most 81
the advance in Trusts. and nobody supposes that
there has been any substantial change in values
It pleased the insiders 10 talk Sugar down a week
ago. and now IL peases them 10 talk II mp
Neither has there been any real change In the
position or prospects ~ the Granger stocks which
cannot b. expected TO earn as much money as
they earned last year. but the theory OF the Street
is that their decline has already discounted any
probable loss OF business The fact IL that the
railroad stocks. "a a whole are a shade higher
! than they were early in the month OF August.
and the prospect Of earnings has certainly not
improved since that time. Money IL abundant
and continues to gravitate to New-York. be-
cause employment is not found for 1t elsewhere.
So that the banks gained about s325o00o last
week from the interior. and 1t appears that New
Orleans has for more than two months been
practically the only city gaining through Treas
ury transfers by telegraph
Cotton has been selling at -. cents. which is
only an eighth higher than the lowest price ever
made with modern classiications. and the re-
ceipts from plantations for the last week were
close fo half n million bales. Very large esti-
mates ~ the crop appear TO be In great favor.
and the most common reasoning now liz that the
price Is low enough even for IA crop OF l0oOO,O0o
bales But one fact is to be remembered. that
1.5S9.4S bales Of American cotton were carried
over September l. here and abroad. when Is
enough To- depress all markets throughout the
year II the yield Is also In excess OF the world
consumption. The wheat market has at last ad-
vanced above 80 cents. for the first time since
| early I'm July. perhaps In part. because the Gov
! eminent statement ~ feeding 10 cattle ana hogs
Impressed some minds. hut the visible supply.
| FOR the first time I'm history exceeding 100000
bushels, affords strong evidence that there Is
| more than enough wheat. besides all that the
! hogs have eaten or will eat. Western receipts
are a little larger than year ago. In spite OF
| the decline OF cents at New-York. and the en-
ports from both coasts only $4,000 bushels
! larger. -four included Rumors Of injury To the
Argentine crop had some influence in the mar
ket. although nothing appears to alter the gem
eral impression that the crops outside the United
States WILL as a whole. be about the largest ever
| harvested.
| The week has made new low record in WOOL
| and also In iron. The average of many varieties
Of iron and steel and their products Is now about
per cent lower than the lowest point touched
! last April nearly per cent lower than November
l. and 44.3 per cent lower than four years ago In
| October Bess pig IL quoted at $40 % al
! Pittsburg and steel rails have been reduced tn
S22 there but iron and steel bars wire rods ana
nails are also lower than ever There II re-
ported a marked increase In demand at the West.
with a very hopeful feeling In that quarter but at
/ PRtsburg and the East the business does not APP
pear large enough for the works In operation 20
that competition for contracts kills all the profits
The average Of lO4 qualities Of wool as quoted by
Coates Brothers. is 1879 cents, shade lower
than the extreme low record made last July. and
the decline during the last year has been II per