New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-31
MONEY AND BUSINESS.
earth.


has produced as yet but little change IN .he
situation Treasury optimists are still hoping
that a large increase in the revenue VIII mani
January receipts exceed expenditures, ana uhti
imnorts of woollens under the new law are
known. it is not possible to speak of the future
with confidence Last week the ihpoIes VI
woollens for warehouse were less imam S"'V'VVo
and OF all drygoods about s6l5,Ooo, the Imports
for consumption amounting to nothing. great
expansion of imports after January Is posSioie'
hut scarcely certain enough to afford III"
foundation for National credit. Government
revenues for the month to date nave pee"
slss55 O95 against s26O27S77 last year, ana there
is no clear reason to expect increase !" ie'e
nues unless through the duties on woo,ens
Sugar imports last week were only s3ll'ooo IN
value and the market does not Indicate any
tendency to increase. Whiskey receipts are
small and the internal revenue receipts for the
week were ST. $50 $685. against s2,266,4ss last year.
and tho market does not indicate that the supply
NJ whiskey taken out Of bond under the old TAX
has vet been exhausted. With no certain IN
crease OF revenue. the Treasury has to race
deficiency amounting to about s6,oooooo IN De-
csnber and a large outgo of gold Tor other
a,ses.
II is Main that the commercial movement does
MT take gold out of the country. Imports for
four weeks at New-York have been ss,5Ooooo
larger than last year. with a small! decrease III
exports but this only means reduction OF the
total imports to about $S0,0o0,0cO, against ABOUT
S55 900 900 exports. Gold ought to be coming ,iis
wav To meet trade balances and would be but
for the withdrawal Of foreign capital invested IN
American securities Sales of stocks during the
week have been quite enough to account Tor the
EXPORTS of gold. which have been only sSsl,oo
| eilve bIir gold
were expected and apparently justified by the
market for securities railroad stocks were not
active during the week. Sugar. Whiskey and ST
Paul recording most Of the transactions, ana
the average for railway securities declined 81
cents per share, while the average for trust
stocks advanced "A cents per share, but IN
stocks largely held abroad considerable weak
ness appears.
The volume Of domestic trade is larger than
year ago exchanges for December showing
gain ~ about 93 per cent but III comparison
with 1892 decrease OF 2i3 per cent. Dun
Review gives details OF earnings ana hours OF
work in many establishments for November
1894 1899 ard 1892 which show decrease OF
! T. % per cent in number of hands employed in
the establishments reporting III per cent III
wages paid, IS per cent in hours OK work per
| hand and $50 per cent in payment per hour'
! compared with the same month In lSyZ whiie
| in comparison with laft year substantial III
| crease is shown in all the items except In pay
mcnt per hour of work But the statement does
not take account Of the many establishments III
operation two years ago bur not employing any
hands in 1894 and this alone probably means
decrease of a. much as ) per cent in the number
= Of hands ernpoye and in wages PAID. Since
D. Noycrnber also there has been some important
reduction N wages. at the Edgar thompson
works Of Is per cent. SO that the statement I'M
. doubtedly represents a better situation than now
exists
In the woollen mills the demand for winter
goods still keeps up remarkably well ou' III
spring goods supplemental orders are not aS
/ largo az might he expected. The cheaper over
coatings for next winter have been opened. win
an average OF prices not much chansed from
last wear but there Is great uncertainty about
foreign competition after January l.. sales OF
wool during the month Of December have been.
about a third larger than last year. but sixth
less than in 1892 and OHIO Xxx has sold at Il
cents \ general revision in prices OF cotton
goods is in progress. wide sheetngs having been
reduced about 10 per cent. and there Is expected
10 To Is per reduction In prices generally 10
! conform with the prices made at the recent auc-
ton sale Less confidence Is perceived. many
! people believing tina, the excess Of production
/ over consumption is quite large. ana IN PRINT
cloths there is some weakness in quotation me
shipments ~ boots and shoes from Boston as
given by The Shoe and Leather Reporter nave
been A little larger than last year. but y5f'Voo
! ,asos less than i'm December. 1892 and a little
loss than I'm tie same month OF 1891 or 1890.
Large sales for spring delivery at prices when
the present cost II leather renders unsa'lsiac-
| tory embarrass the dealers who had not pro-
yidcd themselves with ample stocks of material
before the Use.
Prices Of iron and steel products are somewhat
weaker. and on the whole are the lowest ever
met BesseJner pig sells at Sl2 at Phiadelphia'
and steel bulets at ST. %. while at Pi,tsburg
SO 10 IL quoted for Bessemcr pig and s9O Tor
Grey Forge as the average for the month. while
wire rods are quoted a; 81 80 and barbed wire at
10 cents Shipments Of steel rails for V',ven
months OF the year have been 100000 tons OF
which only 900 was FOR new roads. leaving
, ONLY 500 900 to meet renewals, about half the
/ usual requirements. The reduction In wages nj
the Edgar Thompson works has been extensively
mislnterpreted. II The American Manufacturer
| correctly states the average Tor all men EN-
/ ployed as s. 20 per day under the new scale
! against actual earnings Of s. "A for the whole
year 1894 and s. A for the year lS93 But me
efficiency Of work has been greatly Increased py
large expenditures In machinery. Tin, copper
| and lead are all weaker, with somewhat narrower
consuming demand.
There Is nothing TO warrant enthusiasm IN the
/ business outlook. Hopes for better things AFTER
January 1 are natural but 1t cannot be said that
they have any substantial foundation. The iail-
ures in 1894. according to Dun a Co., have been
| "a o92 exclusive of banking and financial corpora
tons and the liabilities sisS2SS, 4o4. but the years
| :
about 400 failures with liabilities OF 1000 will
be added by the reports yet to come. In three
weeks of December the liabilities OF firms railing
rore $40 6hl az OF which only q third wore OF