New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-22
MONEY AND BUSINESS.

day Bcssemer pig Is quoted at $40 90 PittsburE.
leather and hides still advance. forcing manufact
urers ask 10 cents per pair more for shoes in
| stead Of 2Ih cents coke is nominally higher.
| though it il claimed that regular customers are
supplied at less than open quotations; oil has
| mounted 81 wildly that sharp reactions for two
days excite no surprise and stocks are mounting.
the average for railroads having risen 81 30 the
last week. and the average for trusts having risen
- cents. All these signs ~ revivinS conf
dcnce and deserve attention none the less for the
apparently artificial character of the advance in
some Instances II conditions favoring ad-
vance did not exist. strong and sagaciOus Operat-
ors would not be- risking their money on that side
in SO many different markets. Excess and flight
ness no doubt characterize the rise In some arti-
clcs and give ii a fictitious look bu, il is undenia-
bic that much more hopeful feeling prevails in
nearly all quarters.
There IL much nonsense in the claim that tho
country Is 5000 900 900 richer for these advances.
There IS real gain in tho value Of products mar
kc,cd abroad provided the higher prices do not
check their shipment. but in the two months re-
naming before wheat comes forward we
should hardly ship more than 25.o0o.0Q0 bushels IN
any case, on which an advance IF cents would
mean about 81 900 900 Until new cotton comes we
should hardly export more than 100000 bales, on
which the advance Of IL cents would be less than
5000 600. Large exports u oil al over 81 per bar
rel no one will expect. while coke and pig iron do
10, 70 abroad at all. OF course. the country is
mt richer. because its Consumers have 10 pay
higher prices to its producers The real benefit Is
the decided encouragement given t. productive IN
lustrles uy more remunerative prices but II large
stocks Of cotton and wheat raised the rise In
prices may not last long Western receipts q
smaller than last year. while the exports from
both coasts are little larger than last year. Re
ports regarding the growing wheat are. on IN"
whole favorable and the visible supply has fallen
- about last years mark at this date, but is still
big enough to Indicate that the quantity carried
over next July Will be quite large.
Although 1912 300 bales OF cotton have already
come into sght-the largest crop ever grown be-
fore being 9O3s 7O7 hales-thc product continues t.
come forward in larger quantities than in lS92-in
April thus far 2432lS bales against 1875 6l in that
year Nearly 100000 bales came forward after
this date I'm 1892 and The price rose In April T.
cents as il has this year then reaching "a cents
but made little further advance until the great de-
crease 81 the next yield definitely ascortalned
Presumably the rise this year will Increase pro-
duction considerably. unless storms floods or I'M
favorable weather cut down the production. Eu-
ropcan stocks Of American cotton 2.9GS 900
bales against > 4e3 900 the same date in 1892.
while the stock I'm ihis country is $4,000 bales.
against 302 o0o I'm 1892 With the 5000 bales
brought over at the beginning o. tn" year III"
supply has now passed l090o 900 bales, which is AZ
least ZOO 900 more than has ever been consumed
| u American cotton In year. and there are not
many who look for So great decrease in the
yield But the bottom fact Is that the price has
been unnaturally low. so that some advance was
t. he expected
Indications of the volume - domestic trade are
not Yet i'm a high degree encouraging for III"
daily average Of bank exchanges is only - per
cent larger than last year and 1913 per cent less
than in 1898 Prices II commodities are now aN-
eraging a shade higher than last year but
gain OF nearly 10 per cent In quantities ds'r!O-
utrd means much for business and industries.
The earnings OF railroads in the United States
for April thus far show a gain OF only l., per
cent over last year. and are AZ less than in
1893 but the loss in few bulky products, such
as breadsturs and cattle. has been great
10 imply material gain In other merchandise.
Reports as to retail trade are still quite conflict
ing but ON the whole indicate some improve
ment in distribution since April began. The in
crease In imports continues. in three weeks OF
April having been about 70 per cent. while the
exports from New-York are not quite up To last
years As before a large part OF the increase IN
Imports IS In drygoods. OF which about g 10000
I'm value has been received mere In April. against
s. 800 900 last year bur IN 1898 the imports were
about as large as they have been this year
one of the most striking evidences Of improve
mcnt is the heavy sale of wool. which during the
last three weeks has amounted to BOO0oOO
pounds against li,600.000 last year 1t is true
that the season was unusually late. SO that pro-
duction has been crowded this month as II would
not be ordinarily but foreign woolens amount
ing to SIS, 800 900 in value have been thrown on
the market since January at this port alone,
and the continuance of manufacture at liberal
rate is therefore. more encouraging. Purchases
last year were SO restricted that consupers have
to take more than they otherwise would this
year. and the demand for dress goods continues
large especially in low and medium grades but
for mems wear goods the demand is not at pres
ent active. Cotton goods strong, and fur
Their advances OF X to Il cent reported in
sheetings and drills. Osnaburgs bloached cot
tons and denIms. The advance in wages at some
points restores nearly half the decline within
the last two years, and at some mills the rise IN
the large stocks Of cotton held yields an important
profit.
Bessemer iron continues strong, but the fail
urc OF finished products 20 advance correspond
ingly with the narrowness of demand for some
especially for wire and its various products, Is
rather disappointing. In structural forms the
demand continues large. but rails do not move
and farmers are doing little fence building
this year There Is talk of a further advance of
10 cents for Lake ore. but sales OF Southern pig
are already much larger. both here and at Chi
cago Tin and copper are shade stronger but
lead and tin plates weaker. Shipments of boots
and shoes for three weeks have been 226.4 35
cases. according ~ The Shoe and Leather Re