New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-24
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MONEY md BUSINESS.

The one element upon WnlcH 'HF IHluf' 81 DuSI-
ness must now depend Is the condition Of re-
tail trade There has been comparatively large
distribution by man iflcturers. anl wholesale
dealers have been and some ar" even now
crowded with work In the delivery OF goods. In
great measure the sales have been To- replenish
stock. which have been unusually depleted and
broken By MANY months Of extreme caution
and there have also been moderate sales to meet
the anticipated needs ~ the fall and winter. But
from every quarter much conservatism Of spirit
T. repHtcd with limited buying in excess Of
visible requirements II retail trade now moves
hrislly 50 that stocks I'm hand are rapidly dis
tributei larger orders Tor goods Will gladden.
the manufacturers ana the wholesale dealers,
but II not the reaction Will be- the more per
ceptible because of the active business OF a few
past weeks
The reports II commercial agencies are fairly
encouraging. There Is considerable transfer II
business 10 cities which have been gaining
largely in territory hi;hc. to occupied by others
and 81 Louis has. perhaps. been doing rra-
lively better than any other city. though Louis
Vile and Cincinnati with most II the southern
cities. note improvement. while New Orleans re-
ports dun trade business at the West IL Very
unequal. some cities tagging which depend much
ply wheat growing States, are doing better. ON
the whole there Is 50 much Improvement over
last year that the comparison with season ~
full trade is often forgotten At Eastern cities
there Is unequally distributed gain. In some
branches ~ business large. particularly in
boots and shoes and drygoods but In others
only moderate The Clearing House returns
from all the principal cities show a gain for the
week Of IL per cent over last year. but loss
Of u per cent compared with 1892 and for Sep
TENDER nus far the gain in daily average OF
payments IL per cent compared with last year.
bur In comparison with 1892 there is decrease
Of % per cent
The railroad earnings reported for September
thus far show loss Of 40 per cent compared
with last year. ard ~ per cent compared with
1892 according to "Duns Review" which gives
earnings Of United states roads separately II
IL explained that the passenger earnings last
year were abnormhlly large on account Of the
Worlds Fair. and that freight earnings sepa-
ratey show some increase. But the Chicago
lake and rail shipments q per cent less
than last year for the third week Of September.
II per cent less fer the second, and ~ per cent
less for the first week 1t is noteworthy that.
I'm spite OF such returns. the market for railroad
stocks continues remarkably steady, the average
declining only 90 cents per 800 last week. not
withstandlng the sharp fall I'm Trust stocks
which average 81 "a lower for the week Sugar.
Whiskey and Chicago Gas all had tumble.
which was In each case attributed by some TO
inside manipulation" usual
Cotton and wheat are both making low rec
ords The cotton option for this month sold on
Friday at 6.2l cents. which Is the lowest ever
known for any option. and the spot price 6.G9
L. b. ~ hon mo
than 100000 bales Of the biggest crop ever
grown had already appeared In sight, and the
visible stock Of American cotton here and
abroad was 100000 bales. Estimates Of the
coming crop SIN wide apart, but all recog-
nize the probability Of a very large yield. in ex-
cess Of the worlds consumption Of American
cotton while the visible supply OF such cotton
here and abroad Is now l5iS.2Sl bales. Stocks
of goods In this country have been much re-
duced as to print cloths by the great strikes.
and as To some other goods by large sales during
the past two weeks. but a month ago the ac-
cumulation OF goods VAS unquesionably large.
In Great Britain THE London Economist" re-
ports September 10 lighter exports in August
than last year. many mills standing Idle. a light
home trade and prices very low and in many
kinds unremunerative."
Wheat has fallen over one cent. but the cash
price IL still about two cents higher than at one
time In July, though until this year no such price
was ever known. and some OF the options have
been lower during the past week than ever
Western receipts for the week are not quite as
| large as a year ago. but from August l have
been about 46.OO0,OO0 bushels, against $4,000
| 900 last year, while the exports this month
are 100000 bushels against $4,000 900 last year.
and since August z5oooooo. against ssoOOooo last