New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-10
MONEY AND BUSINESS.

1
Cowardce Is bad for business. and ovcrconh.
| dence at least as bad. The duty " the
| newspaper is to supply the facts. which pro-
| tcct against both Just now some journals are
devoting many columns to exploitation OF the i'm
| provement In business. which IL indeed substan-
! tial but which they find Interest in magnify
| ing Hence. the first thing u be done each week
| is 10 get at the facts. which show how much Is
| real I'm the improvement. AMI how much is i'm
| aginary or hopeful. The records which manufact-
| ure themselves, and are not manufactured show
that business is larger than In previous months,
but It ought to b. larger in september than In
| August II Is larger than 1t was last year meas
urcl By payments through Tearing houses. II
per cent, but smaller than In the first week II
September. 1892. by 29t per cent In that year
the daily average was nearly SIS 900 900 larger
than In August. last year IT was only 80 900
larger and this year II begins the month about
sloo0o0c larger. This tells Of the aggregate ~
all kind, 81 business but It Is Inevitable that un-
dor new laws. and with different crops. some
kinds Of business flourish more than others
Thus contradictory phenomena ensily deceive
those who refuse to See anything which does not
III their theories.
AZ u foreign trade. the great Increase In Inn
"A
duties has not yet appeared. though the with
drawals from warehouse Of dryg )ods alone have
been s1,cos,ss In value during the last week
The imports ut Now York have been only 1919 900
larger FOR the first week u September than Lac,
year The customs receipts. which include Inn
ports and Withdrawals together. and at all points.
N40s. 2ss last week. about 81. 600 900 more
than last year. and ssooooO more than in 1892.
tt1tf fb. Gruf s,ir
over ss0,ooo.ooo worth Of goods In warehouses
waiting. this Is not large. on the other hand the
Internal revenue was only ,li74oss. abou, S. 300
900 legs than last year. and $500 900 less than In
1892. suggesting that the gain In customs may
for time be neutralizcd by the loss In whlskey
taxes.
Railroad earnings sixty-sevsn roads re-
ported 10 The Financial Chronicle" for the full
month Of August show an increase OF 10 per
cent. but the decrease. compared with 1892. Is "a
per cent Railroad stocks slightly declined In
the average 81 cents per share. while the Trust
stocks on the whole scarcely changed although
Whiskey declined Tho Government crop re-
port for September !. which is expected to-day
VIII be reckoned by many important evidences
OF the probable traffic II the railroads for
months 10 come. but unhappily the people who
accept Government crop report without Eesita-
ton In these days are too credulous 10 have
much money That the corn crop has been seri-
ously injured cannot be doubted but some excel
lent Judges estimate the Injury at less than 400-
100000 bushels. while others believe that II IL
as much as 500. 100000 bushels. and 1t Is sup
posed that the Government report Will in sub
stance sustain the larger estimate The effect
OF 80 wide n margin Of uncertainty upon bust
ness calculations is unfortunately II deters people
from future trade, even more. perhaps. than II
the worst fully known.
Corn Is slightly lower than n week ago. but
hog products are higher, ana the story that
wheat will be extensively used In place OF corn
for feeding has been worked for at least all II Is
worth Wheat II not quite cent higher for the
week. and with Western receipts about 1000 900
bushels. or 90 per- cent greater for the week
than last year. and l3S00,Oo0 bushels. or 40
per cent greater In August, while exports from
both coasts for the first week OF September. flour
included. were 100000 bushels. or 35 per cent
smaller than last year. and accumulated stocks
were 900 bushels larger than ever before |
at this season, It Is hardly surprising that the
price does not advance. low as II Is Cotton Is |
a sixteenth higher for the week. and THE |
Financial Chronicles" annual statement does |
not. as some accounts Indicated include a def |
given Is supposed to promise from |
s. 500 900 to 90O0,O 900 bales. which Is obviously |
more than the world can consume. In this coun-
try consumption for the past year was 9 per |
cent less than In the previous year. and 1872 per |
cent less than In the year 1912
The great strike In cotton mills appears to
be In part, but only In part. the cause Of re-
marknbly large and active trade I'm goods at
generally advancing prices with print cloth
production reduced to n minimum. 80 that the
stock has decreased 10000 pieces In twcnty-onc
days. the rise of " cent In print cloths would
be attended by some advance I'm other
products. But the demand for many grades
Of goods appears 10 be larger than the works
heretofore In operation can MI. and several
important mills have been added to the pro-
iucing force. No similar increase appears as
yet In the production Of woollens and tho
recent demand. though larger than for some
months, is much below what IL usual for the
season. The reduction In prices OF some goods,
which were opened comparatively early. be-
,ause other similar goods have more recently
been offered at lower figures. and the decrease
n purchases Of wool at the chief markets from
,vsr 100000 pounds . few weeks age to less
Ass Geoaeoe squads last vsak asaAast Loia.loa