New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-01-29

ments but has risen every week to 1874 per cent
during the last week. II the industries are ho'
set back again clearings may be expected 10 I'M
prove in time.
Railroad earnings in January thus far are
shade better than IN December the decrease
averaging Ill per cent for all reports, against
"A per cent last month"; but here the decrease
has been smaller In the third than in the second
week and smaller in the second than the frst
week Of the month This is partly because OF
new agreement to restore rates. when would
hardly be made If it were not expected to nave
some effect for a week or two. Perhaps aso
the open weather during the month has caused
some gain. because last January business was
exceptionally interrupted by severe storms The
recent cutting of rates by Southwestern ROADS
II 1t is only an open avowal OF what has been
secretly done for long time will not decrease
earnings much. nor has it unfavorably affected
nrlces of the sticks of roads Immediately con-
earned All railroad stocks averaged almost
precisely az they did a week ago. but the heaVy
fall In sugar and some sympathetic depression
ha we lowered the average for trust stocks III per
share The best that can be said OF the railroad
share market Is that It stands without ue-
preston heavy losses in earnings. ana aosorps
readily the considerable blocks OF stocks sofa
on foreign account.
Cotton is an eighth higher. without any ex-
cuse In the movement. Receipts from pian'a-
tions have now risen above six million bales,
and instead OF the perpendicular drop III
January 10000 bales more have come into sght
than In the same month last year. the increase
IN exports has been 2sS.0O0 bales while takings
Of Northern spinners have decreased $4,000 bales.
or q per cent. compared with last year Stocks
of American In sight at HON" and abroad nave
decreased in January 81 900 bales, while the de-
crease last year during the same weeks was
13s. 900 As there are now in sight 4,Os3ooO bales
American more than full half-yeaTs supply
for the world at the maximum rate Of con
sumption. and the entire receipts from pIanta-
tons for the remaining seven months of the
crop year will have 10 be carried over to another
year. the prospect for advance Is not bril-
liant Wheat declined fraction. exports con-
Timing very small from tie Atlantic coast
though for four weeks from both coasts. III
Guiding -four. exports have been llsSbZ'o Dush-
els. against 10 1899 last year. and Tor the crop
year thus far the decrease has been only il'0oo'-
900 bushels Western receipts were also SMALL
for two months only 20.5Oo.OOO busheis against
a. 600 600 last year. But the visible supply Is
stiu so 400 900 bushels. against S22OOOOo year
ago. and 49, 100000 two years ago. after the large
crop Of 1891 Other products have not materially
changed in price
The number Of works starting up has oeeh
greater than in any other week Tor months out
they are mainly small. 80 that the excess over
works stopplng does not imply n great increase
I'm working force. Reductions OF wages con-
tlnuo. and have been both numerous and large,
though important strikes are threatened on ac-
count Of some. Although many knit goods ana
cd n -
ported about to start. sales of wool have been
but iO23 200 pounds at the three chief markets.
against 1901 80 for the same weeks last year
bu, rnor. inquiry IL reported. though At Phila-
dclnhia rrices are lower. Dress goods are doing
hotter and some worsted manufacturers seem
- have concluded that they can survive foreign
connection in any event. but trade In other
mems woollens AMI I'm overcoatings shows no
Improvement. Cottons are weaker ana In less
demand since the general reduction In price. ana
the market does not promise much. Boot and
shoe factories find trade slow. and shipments
from BOSTON FOR the week. according 10 The
Shoe and Leather Reporter" are "a per cent
smaller than a year ago. Lower prices still are
quoted for iron. so 80 FOR Bessemer Mt Pittsburg
and Sc - for Grey Forge Mt birmingham. and
while the demand for products Is everywhere
Increased. and the tone at Philadelphia Is dis
trCtly improved, there IL no improvement III
prices anywhere.
The conclusive proof that business does not
gain largely is the further increase Of t7s35,6oo
in money held by New-York banks. the amour;
being nearly SAG. 000 600 while loans actually de-
creased nearly million The Treasury lost
ST. 700 900 gold and s320o00O legal tenders.
against a gain f 81 100000 silver and 100000
Treasury notes. The anticipated rush for Gov
eminent bonds IS not realized. and while some
bids have been made or authorized by banks. II
IS reported that somr have already Withdrawn
bids made. There Is plainly some doubt whether
bonds which might be- taken for idle money can
be readily sold at still larger premium few
months hence. II business rcvvcs and banks
have better use for funds. Naturally the pros
pcct Of Improvement I'm business tends to lessen
the desire for such investments. Treasury re-
ccipts from customs were hut g. 5i9, 3J5. against
&C. 1924 last year. and the total receipts for the
month were only SCI. 257 against S33.2G6,Oi3
last year. a decrcaac Of 81 800 900 I'm less than
a single month. The free gold Is down to $G7.-
49, 90. but the difficulty is not that notes are
offered for redemption: the receipts Of all kinds
since Congress began It's warfare against indus
tries have been much below expenses. II would
bc n great deal cheaper 10 stop the warfare
than to borrow money.