New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-16
MONEY AND BUSINESS.


MONEY AND BUSINESS.
| There ,s a general feeling Of surprise and salts
! faction that business has kept UP 50 wei '"'i"s
tho mast fortnight Of extraordinary interruption
| There has been some shrnkage. and yet III "'os'
| directions less than might have been expected
! rn, &, ~ mart because few realize how large
| , sbore NJ the business Of the country Is done III
| tho section east of Toledo and Cincinnati "hich
| bos been little disturbed by the railway s'rihe'
and which has been rapidly gaining. especially III
| Ohio Western Pennsylvania and the 'irs'Hl'''
since the stagnation caused by the coa S'''ne'
The recovery Of the iron industry AFTER 'ne
| pa ralvsis caused by miners was rapd u"rl"s '"'
Inter part Of June and though checked DIT inc
W.st by the railroad blackade. may 10" pe ~
n.cted 10 continue. For unsold STOCKS VI P'e
iron were reduced 95.7S2 tons In june ho'"''"
standing the increase In weekly prouuc''o" '''"'
C2.5f7 June t. to $3.50 July l. VINO" S"'"' "''
actual consumption In the mahuia''"'e
s,1.rohlv exceeding the production yet attained
"Tho Iron Are" makes the output Tor NV N''
hair ~ the year 100000 tons. and stocks were
a,a, ro,rco1 osi $50 tors The consumption IN
,u,ruf,cture during the past three haf-Nears
NAV therefore be thus stated In gross tons:
''''' First half SCI. nj h2lf First ,,ia
Soc a. ,joooo 2'@i's4 4@''
TOTAL .........a?.s.. a!st,e: 's az g:
stock At cnl. ........... '7"''' M ~
c.rs,mp,,,n ..........2.7it'5e 23''.~i2 '''s"',1
while m. OUTPUT has been less than faf the
capac.fv. for 47G9Gs3 tons were ac'"aiY p'o-
duc,.I I'm the first half Of 1899 ana over ~"
toms weekly. May l. 1893. and the averas" "''
vc,r has been only 1920 tons. the use IN manu-
rac,uro has been Is per cent greater than IN the
a
,r,ces over 100 900 tons weekly could apparently
H. rr,dured But the railroad and coal strikes
,.,,.. hath materially diminished the ability 81
railroads 10 purchase Iron for repairs ana 'N-
tensions ~ track or rolling stock. ana mus nav
..r.J the demand FOR labor TIA ml'S an"
mills.
few weeks ago the state of orders ana
markets was such that very general s'o'P E'
~ woollen and cotton mills about july ""S
deemed inevitable Prices have not ilpr' 'e'
an, ,,doeI ar. rather weaker fJr some cotton
goods and ln that branch Their" mas been cons
adorable curtallment of production. b"' '"' VI
d.rs for wool.,n goods have become 80 ""'"
- ,,,,,,erous though small. that much
smaller proportion - the mills ina" Was W.
,,o~,.d IA. stoned and some - the stronger
have been terrifying themselves agai"s' ''sS'o'e
Increase I'm demand before new duties take
tn, hv specularive purchases - wool. Sales
,,s, ,v.ek al the three Eastern markets "'r'
% az ooa Mounds against 36i3.100 last year IN"
enc 20 IN lee2 go that for two weeks 81 '"lE'
though the sales were llaSGl'0 pounds ID 49,
md only 5739 so last year. they nave risen -
o AZ go this wear II IS not supposed that 'hree-
quarters ~ the consuming force Is NJ "o'N
probably llt,le over onchalf
the IMPROVEMENT for the present VIII never
thelrss help good many mills and their hands
II continues The shoe factories have also oeeh
en,b.d by better orders than were anuclpateu
:, resume work quite generally AZ the East a''''
,,.,r rul, holiday. and the shipments from R's-
ton. though about 10 per cent smaller '"'" !"
sag .r 1871 IRE slightly larger than last year ''r
July thus far
II * fortunate tina, the markets for products
o., t,ng.r ulac.. any faith IN Government crop
oe,irna,es The report last week was treated
,v,,b c,n,emptuous Indifference. and while the
hest trad. authorities offer widely In their
estimates Of the Yield Of wheat and cotton. none
Of them are near the figures based on "'nV''l
returns. I'm effect less than 3sOeoOoO DushelS o'
wheat Exports from both coasts honT III
Guided have been 4227.ij0 bushels In two Weeks
II July against 1880 last year. Will" the st'Ke
has made Western receipts only 2lO0"o pushe'S
In two weeks against 100000 last year Inc
price has changed but little. though corn IL
shade higher. Cotton ftfflpiS ''.lH "'''''' '''N
be I. 600 bales less than last year. exports l2ooo
bales less. and taklngs Of Northern spinners
u 900 bales less. and the price has declined an
eighth.
The stock market. properly speaking. does not
cxis, ON, OF 720 93T shares sold last week. 1885,
27l were Of Sugar and i09.50S u Ave trust STOCKS
while the seven railroads and telegraph STOCKS
ranking highest recorded sales OF oniy Zo4s'V
shares. and all other sales were but lo64'V SHARES.
II Is said that prices improved because the S'rIhe
collapsed but the Improvement has been ABOUT
as important as the transactions. II Is evident,
however. that foreign Spectators were not sell
Ing as much "a before. and the net exports 81
yold fell 10 S73.OS3 for the week. THIS cannot
be attributed 10 the state OF merchandise TRACE
for Imports rose above those Of the same week
last year. while the exports from New-fork were
about $500 coo smaller than last year. The official
report for June which showed net gold exports
Of s22. 4s3. 593 also disclosed merchandise exports
Of s5747l94J against imports Of only s5624,s0i.
and for the fiscal year ending with June the
excess Of merchandise exports over imports was
s237275407. After all possible allowance Is made
for undervaluations and for interest due abroad
thee yet remains an enormous outgo or foreign
capital withdrawn. and II Is not yet TO be as
sumed that the outgo has reached an END. the
money market was undisturbed. though the
movement Of currency 10 this point from the
intsrior was not continued. But the heavy
payments Of internal taxes, $3.S'6.OSO In two
weeks Of July against &C. AZ 5j5 last year showed
how vigorously the Whskey Trust was taking
advantage OF It's mortgage on the majority In
Congress. Customs receipts for the two weeks
have been only $685., 1853 against s7So 96i last
year and there Is every reason 10 expect that
these will be small until the new rate of duties
has been fixed.
The volume Of domestic trade indicated by
Clearing House exchanges was III per cent
smaller than last year, and 1913 per cent smaller
than two years ago. Under all the circumstances