New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-18
MONEY IND BUSINESS.

The slow gain in business continues. but atten-
ton Of late is attracted more and more to its
slowness Since last August, when comparison
began with the worst month OF the panic 1t has
been possible to report every month some gain
oyer last year, but this gain does not Increase
Thus. exchanges through banks last August
were 70 per cent larger in daily average than in
1893. and in September Sc per cent larger; in
January the increase compared with last year
was Sc per cent. and in March thus far 10 per
cent. 4 more lust comparison is with the CORE
spending months before the panic came. Last
August the decrease compared with two years
before was 21.7 per cent, and in September pa
per cent: in January 29.4. and in March thus far
261 per cent More than quarter of the normal
volume Of business is still wanting and since the
first recovery from the panic the improvement
has been surprisingly limited. With favoring In
nuences in great number. the stoppage of gold
exports the success OF the bond syndicate, the
adjournment Of Congress, the avoidance OF many
perils and the partial recovery of many in
dustries business nevertheless shows about the
same shrinkage which appeared six or eight
months ago. Sentiment has changed greatly,
confidence has increased. but the volume OF
transactions gains but little
The weekly output of pig iron according to
The American Manufacturer" of Pittsburg. was
1537S9 tons March J. against 1901 February l.
and rs 225 December /, the decrease having been
2i536 tons or about IA per cent in three months
COMPARED with MAY l. 1893 before the panic be-
gan the decrease is 1888 tons. and yet the ac-
cumulation Of stocks indicates that the output
exceeds the demand, for in February stocks in
creased 81 800 tons, in January 72,6l5 and in De-
| cember 81 9S9 or in all 2OS,5Oi tons in the three
months Deducting stocks unsold. 1t appears that
the apparent consumption Is about 10000 tons per
week less than in December. Prices do not re-
| cover, although there is much talk of expected
! advance in ore and COKE, but Bessemer iron Is
weaker at Ifttsburg The structural demand is
! large. and there is good demand for plates and
/ better than Of late for bars, but prices do not ad
vance Copper is also weaker, at 9.37 cents for
Lake
These are the disheartening features Of
the situation: but, the other hand the sales of
wool though about an eighth less than year
ago continue fairly large -or the season. The
rise abroad has helped the belief that higher
prices may come, but since January 1 the de-
| crease compared with 1898 has been only about
II per cent. all in domestic WOOL sales OF for
! oign have slightly increased. No marked change
appears in orders for goods. and the statement
! often made that the mills are fairly employed
refers to only that part OF the producing capac-
/ ity which has been able to resume since 1893 but
It is evident that more helpful feeling prevails.
The imports OF woollen goods at NewYork have
been about Sl2, 900 I'm value since January |.
against less than 900 last year; but they
were about s. J000 600 in the same time in 1898 and
1892 and the difference represents but-N small
part OF the normal consumption. Trade journals
maintain that home manufacturers are proving
their ability TO hold much larger part of the
American market than was expected, but the
shrnkage in consumption affects both domestic
and foreign trade. The cotton manufacture has
been stimulated somewhat by the advance IN
cotton. though many buyers hesitate To count
upon its continuance. hat prices OF goods
have not improved as yet. A good many more
jobbcrs have paid some advance on boots and
shoes as leather continues Ia rise instead Of re-
acting but the orders thus obtained are still
much below the normal quantity for the season
The advance In wheat. cotton. corn and pork
products has not been due TO any increase IN
demand, but solely TO reports about the present
supplies or future crops The Government report
of wheat I'm farmers hands March !. of only a..
100000 bushels was not believed by anybody. but
short sellers were each afraid that somebod,
else would believe It, and hoisted the price 10y
their rush 10 cover. Human nature and particu
larry farmers human nature has been entirel,
reconstructed If they have sold Off or consume,
at the lowest prices ever known nve-sixths o
their wheat whereas at this date for fifteen years
they have always held from "A quarter to a thir,
, Of their crop. The estimate as 10 corn was les.