New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-07-23
MONEY! AND BUSINESS.

4 year ago tho country was In TN" agonles oi
manic Banks were dropping every Day ana
commercial failures were nearly 800 per "eeN'
Manufacturing establishments IN every III
r.ciion were closing domestic exchanges
,y.r. disorganlzed. stocks were dropping 'o"ar"
tn. lowest point. soon after reached. ana prices
Of commodities were sinking. Comparisons with
such a t.riod would naturally exhibit gam III
many respects Failures are now less thhn -'0
Der week and IN aggregate OF liabilities only
g. 600 900 for twelve days ~ July. But the VOL
uine Of business IL smaller than year AK"
Payments through all clearing houses last week
wer. II PEI cent less than last year, ana Tor
the month thus far % per cent less than In 1892
Railroad earnings thus far reported FOR the
month are 81 per cent lcss than last yeai Com
rnodi,les average lower than year ago. ana
er. close 70 the lowest point ever known. a
year ago heavy foreign loans To- relieve tempo
rorv necessities brought gold hither. but now II
f. going abroad. 81. 300. 900 last week The tron-
bic about money. which was by some supposed
10 be the cause OF all disorder last year no
longer exists; the markets are oV"rIoad"d' the
N.w-York banks have 1921 100000 on hand. ana
each week brings hither n million or TWO more
for which the stagnant business Of the Interior
finds no use The obvious cause of depression
greater than that ~ last year is that Demo
cratic Senate is trying to pass a Tariff bill
which a Democratic President denounces Tor Its
corruption and periidy.
That business would revive with marvellous
rapidlty II this agitation were out OF the way all
tr,J. reports make clear Stocks ~ goods In the
hands Of retailers and wholesale merchants are
remarkably small old stocks have been worked
off and purchases restricted AS far as possible
for more than a year. ana the needs OF 10000
nl. tnI,
mare than any 40 900 900 elsewhere In the world.
nro,s trade t. demand immediate deliveries 81
c,nds Yet orders reaching into the future are
extremely narrow for men cannot know what
compcution they will have T. meet. ana many
mills are closing Cotton manufacture was
largely reduced last week and prices or Deached
goods mn down to the lowest ever known While
clo,hiers are begging for immediate supplies OF
woolens and there Is Il famine In cloths I"r
| mems wear. orders do not keep hair the pro-
duciug force AT work and sales Of WOOL incud'nB
| large quantities bought on speculation were Out
Nj a35 pounds against S,lij,IOO pounds Tor the
| same week in 1892. and l3.3i1.lho for July mus
,or against sO3g 400 last year and 2O,lSl,S'O IN
,.o9 ,yi,h nm active and even urgent Increase
In the demand. mills are nevertheless closing
| rhe larger demand FOR boots and shoes gives
| that Industry much more hopeful aspect
| ,houoh n is a demand almost wholly conhned 10
| medium and low priced goods, and employs only
| ,.r, ~ I'M, works But the great iron industry
| orrrr Iut.rruption Of more than half It's work
| ing force for months by two gr~it slrikeS Hi'cs
| the demand for products 50 narrow mat the re
| ,.rr, T.. slow and uncertain, and prices. except
,,r H.ssemer iron. are weak. Even at Pittshurt
| and chic,go the demand appears smaller an'
! Ices urgent than week or TWO ago al fnl'""''
phia the mills at work have orders only Tor q
| short time. and at NewYork the market f'l
| mig remains weak In tone. as well as h'"leSs
| while the expected activity In finished produ't
has moi vet arrived. THE American Manufact
urer" says Improvement VIII come wheh 'n
"railroa Is begin 10 be liberal purchasers ana TN
| horticultural interests present something hK
| .'the old-time requirements. but the statement
| "of railway traffic AM the prices OF farm prod
"ucts do not promise that this VIII DE sooh
Wheat has again sold at the lowest price eve
known. AMI closed at So cents for july asaihs
bga, cents a week ago. Receipts AT the Yves
wer. 3 l3S 700 bushels against 3o2S3'' last year
while the exports from both coasts In July 'hu
far flour included. have been only 6.looSoo bush
els. against l2,s90.36j last year. Nobody nov
credits the Departments report OF yieid, ana III
most hopeful trader hesitates 10 stake ahylhin
whether 1t will prove 50.0ooO60 or lOooooOoo bush
els below the truth. Corn declined only ira'
ton. with every prospect Of very large crol
Cotton declined sixteenth, receipts TOT IN
month falling $4,000 bales. while exports Ia
3G. 500 bales below last years. and with ever
nrospect that about 900 600 bales American WI
bs carried over September here and ABROAD
and that the crop will about equal. II zoe