New-York tribune., 1894-10-29

large I'm volume and as profitable as ever. But
the records which business makes for itself, ana
which cannot be manufactured to suit any
political speculative emergency tell very
different story Compared with last year. wheh
the extreme prostration caused by the panic
had been but slightly relieved the volume OF
payments through all clearing houses for last
week shows A slight decrease. and for two
previous weeks a trfng increase. This Is III
rart because heavy speculative operations
year ago swelled transactions at New-forK'
and outside this city the Increase last week was
about per cent, and the week before ABOUT
per cent. But compared with October, lo'-'
month Of general prosperity. the decrease last
week was 2l9 per cent. and for the previous
week 90 per cent, although business greatly
interrupted that year by the Columbian ho!i-
days The daily average for the month has
baen IS Der cent greater than last year but
o9s per cent less than in 1892. Only very des-
perate politician or specuator Will consider tnat
n gain OF ,ess than per cent over last year
prostratlon. and loss Of nearly 20 per cent
from the business in 1892, means satisfactory
revival Of business.
The gain that does appear is hailed with JOY
for il gives more work TO the laboring people
though at prices which yield scanty profi's TO
producers. and at wages which by no means
support former conditions u comfort II Is the
general complaint that there Is no money IN
making or selling things at present. for the sup
plies offered 80 exceed the present consuming
demand that men have 10 sell at the narrowest
possible margins The starting Of factories in
such circumstances means less for employers,
less for sellers Of raw materials and necessarily
less for the workers than in better times, and
vet il is cause for rejoicing that about 20 con-
cerns have started during the past week. though
some others have closed. The shoe business Is
actually delivering more goods IN number thah
I'm any previous year 1906 cases for the past
four weeks against 3l+.022 In 1892 Bu, tie sub
st!tuon u shoes f0r boots. and II low priced ipr
the better shoes. implies a mater.a. decrease IN
the volume Of business measured in money. in
the labor employed or In wages earned Manu-
facturers complain that they cannot get living
profits at the present prices Of leather. ana yet
can get no advance In prices Of boots and shoes
The iron industry IL marketing rather more
structural, and bridge work but scarcely any
rails fewer materials for cars than was expected;
and in bar iron. wire. wire rods and nails the
depression Of prices !s about as great as II has
been.
The textile manufactures are checked by
general tardinoss in retail Distribution that
after very active WORK for some weeks in re-
plenishing yocks Of wholesale and retail deal
ers the further orders 10 sustain continued pro-
ducton az the same rate are not YET lece:Ved
4 good many come. nevertheless So that in some
branches production is fairly large. But the
print-cloth works are retarded by large strikes,
and brown sheetings show some irregulari,y in
prices Spring orders for mems wooens are
st!ll small. though occasionally an additional
mil finds business. while some others are re-
ducing time. In supplying fail and winter de-
mands under the old rates OF duty the mills
continue to get considerable business though
much less than in full season. Sales OF wool
I'm four weeks Of October have been 19,45l.7i9
pounds agains; 25744 $50 in 1892. and prices have
been fairly steady about the two weeks
ago.
The depression in farm products continues. and
reports To commercial agencies indicate that II
perceptbly affects retail trade and collections
lr tho South and West. Cotton has fallen 10
5I cents cash. declining only sixteenth for the
week but nothing appears to justify belief that
the decline has been permanently arrested. Re-
celpts from plantations this month have been
SlG 600 bales greater than last year; while eX-
ports have been $4,000 greater, and stocks. OF
American here and abroad. now 1905 ll3
bales while current estimates ~ the crop are very
large Wheat has again sold below IS cents
here although the Western receipts were slightly
The fact gives little encouragement with 5000
600 bushels in visible supply. against 100000
last year as 1t is realized that farmers would
not be selling at current prices If their
stocks were small. Wheat thought too low
a year ago but is now 10 cents lower. Pork
products also declined during the last week,
while corn has been fairly steady.
Exports OF domestic products are in value less
than last year. for four weeks from New-York
II per cent. IN part because OF the low prices
since both wheat and corn are exported more
largely In quantity than year ago Imports
have for two weeks been smaller than last year
partly becs use OF the difference in sugar. OF
which the value imported at New-York In four
weeks has been only $l.022.97 against All47@
last year The increase in all imports FOR the
four weeks has been per cent. but I'm other i'm
ports than sugar % per cent Customs receipts
have been little larger than year ago. but
the difference is Insignificant compared with the
heavy decrease In internal receipts. BY other
means the Treasury has raised Its gold reserve
ST. 400 900 during the week though II Is still far
below the amount considered aarmingy small
early In the year.
Gold exports have not been renewed this week.
and the New-York banks have again been in
creasing their inconveniently large accumulation
of idle money. The attempt by concerted action
to reduce interest allowed other banks on bal
ances has not succeeded. and the accumulation
Is "a sign by no means encouraging. when It Is
considered that the interior demand for money
should be largest at this season. II business were
fairly prosperous. The stock market no longer
reflects the idea that the elections will produce
boom. and the earnings for the month thus
far have been 3.S per cent less than last year.
and 1l.6 per cent less than in 1892. though the
ed wi ie n
ceptional passenger traffic In the last weeks OF
the Worlds Fair, and the freight business alone
shows an increase. But 1t is clear that profitable
/ hIla no tal