New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-09-09
MONEY AND BUSINESS.

MONEY AND BUSINESS.
Tha end Of the cotton year brings the turning
no,nt IN the most important speculative market
for nroducts and also In the movement or the
most important crop respects exports and fut-
IRE shipments of gold The annual statements OF
last years crop, by THE Financial Chronicle
1892 1866 and by the New-Orleans Cotton Tx
change 9901 251 bales practically agree. ana indl-
cate that larger stocks remain available FOR the
future than had been estimated from current re-
ports American mills carry over 3booS Daies'
besides 325 53s in commercial stocks. To the $780,
1856 bales known, add the European mill STOCK,
se4 900 bales in all August Of which the proper
t,on ~ American though certainly very large, Is
nor exactly known But as 1876 per cent Of Euro
mean consumptior was Of American cotton. II IL
fair to infer that mill stocks were in like proper
ton so that If these were reduced 900 900 bales
OF 400 pounds September |. the quantity OF Ameri-
can would be about 726.000. or OF American bales
AS pounds net about $4,000 II so. BOIL 156 bales
American 20 over to the new year. The consump-
ton OF American has never yet exceeded SZ0oooO
In year; what /, may be In future Is conjectural
with India rapidly increasing the manufacture
and taking Engand's largest markets, so that ex-
ports 10 Bombay and Bengal for seven months
ending with August were reduced from II 26O OOO.-
per cent OF British exports to all countries-t
seems at least possible that the European con-
sumption OF American may not Increase. But
with some Increase there and here, 60OOo 900 bales
new cotton would be enough to prevent famine
and leave large surplus. and the latest bull esu-
mates do not go so low.
with a cotton famine out Of the question. the
msfortunes OF Southern growers become the
main point since they cannot EXPECT settle
with merchants and factors or to sell cotton In
the earliest months Of the year at very satisfac-
tory figures, with over third OF years con-
sumption hand All will hope that the worst
estimates OF loss may not be realized for such
calamity would seriously affect purchasing power
and general prosperity at the South. The latest
Information regarding all other crops has been
more favorable, and an enormous yield Of corn is
far assured that the price fell pa cents to
SO cents Farmers Of the West find that holding
back their wheat is Of no use, and the price also
fell 3 cents to SO. although Western receipts
from an average of 1000 900 bushels per week in
August to 4,550.104. against 5,5642l0 last year.
There was some Improvement In the foreign de-
mand with lower prices. though Atlantic exports
were still only 1877 1852 bushels for the week flour
included against $50 last year. There is
every indication Of short demand throughout the
season for Atlantic exports, though Pacific
ports large and go out at low prices. while
foreign needs are ct present supposed to be small
er than usual by foreign operators
In consequence exports of products for the
week IA per cent smaller than last year. while
imports continue nearly 20 per cent larger. nearly
all the increase being In drygoods. II heavy buy
ing continues. while selling OF products Is less
than usual, gold exports. amounting to s5.42l O2s
for tha Lon In aIxr
confidence that the syndicate will take care OF the
Treasury which has put itself under their charge,
the Street watched the outgo with much indirer-
ence, although 1t has amounted since July 49, in
eight weeks to $22,442 00O OF which three firms
shipped ST 900 000 There is nothing strange In
the return of bonds from Europe. which appears
to have narrowed very much. but there Is still
every week a balance 70 be paid merchandise
account when Is probably more than $1,000 900
per week. That another issue of bonds Is quite
likely the shrewdest bankers infer. and some be-
gin to count upon il as force which will raise
prices though more borrowing is not. as a rule,
proof Of general prosperity.
The state OF industries Is peculiar. II those who
are most confident are correct cotton goods have
been made permanently dearer by a National ca
lamty. the partial failure OF the crop. and leather
goods by the control OF the Trust and iron by the
Marquette strike. and woollen goods by a great
decrease In domestic supplies OF wool. These are
not influences which tend toward National pros
perity. Happily for the country the Marquette
mines are at last shipping ore. though they will
probably be unable to send TO market more than
two-thirds OF the usual supply, as the remaining
period of navigation Is brief. Great causes OF the
advance In iron prices are enormous bridge build
ing by railroads. heavy ship building on the lakes
and the continued architectural demand but
these are all forces OF a somewhat temporary
character
The wooen manufacture Is bravely meeting
its new test. but with enormous undervalua tons
OF imported goods not altogether successfully In
most mems goods. especially of medium and low
grades. there is extraordinary dulness. and the
most hopeful suggestion offered is that Bradford
mills have such large orders that they cannot
get skilled labor to meet them all The demand
for dress goods is large and healthy, as well as
the market for blankets and fannels The de-
mand for cotton goods continues to support all
advances In price. because raw cotton still rises
but II 1t turns downward part OF this demand
will cease. While workers appear to be organic
ing as resolutely as ever. the wages question has
not yet interrupted production at Fall River. The
demand for boots and shoes, naturally limited at
this season. is the more restricted because prices
hinder MANY BUYERS and orders arc remarka-