New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-11
MONEY AND BUSINESS.

A good many signs are strictly encouraging.
and vet Tie street IS not wild with enthusiasm
and stocks are little weaker than "A week ago.
There is more actual business IN commercial
loans though tho bank statement docs not show
X; as some imagine. because the addition of the
Produce Exchange Bank accounts for s3.096, 600
OF tho S5.eo0ooJ increase. and the banks have re-
ce!vcd some millions ~ bonds. which are reck-
oncd as loans ia place Z ,hc certificates for gold
deposited which were recl, 1ncd cash. Tn" In
crease iu loans - a commercial character cannot
yet hAye been .argc 81, exports OF gold have
been insignificant Ia spite II the fact that ex-
change was at one tine actually above the ship
ping point and tAe Withdrawals from the Treas
urv by redemption 81 notes have been only 5000
c,' eu." the month began. about $780, 900 for each
business day. but the exhibition Of the power Of
'l.. syrI. ate, docs not guarantee its continued
exercise beyond tac completion Of payments FOR
the bonds Imports ~ merchandise are smaller
than the average for the previous four weeks.
but exports are running even much below last
Years when The aggregate bat $500 900
NOR. than the impott-
Any advance I'm prices ~ staples. based not
upon prospect ~ increasing demand. but upon
prospect 81 reduced production. gives but ques-
t!ouahl, ENCOURAGEMENT. The cotton market has
worked up TO - cents, against 5G2 last week.
TIE theory that production this year will be
greatly reduced. which would undoubtedly be
god Tor those who may continue to grow cotton.
bat not necessarily good for carriers. manu-
facturers or cousumers The quantity which has
come into sight during the month is 1862 63i bales
In seven days. against 9l.5i3 In eight days last
yclr and 1910 In ten days I'm 1892. showing
relatively larger movement than when the crop
was over 100000 bales. The stocks Of Ameri
4
during this month $4,000 bales. against $1,000 last
year and &C. 600 In 1892 which is not much gain. In
view Of the fact that the visible stock Of Ameri-
can 70 200 900 bales larger than in 1892 and is at
least that much more than enough for half
years supply OF the whole world In short.
should only 800 o1O bales come into sight from this
time on. against 1900 In 1892, and should the
worlds consumption Of American cotton be as
large as Il was in 1912 there would be left
over ncxt September about . 400 900 bales Ameri-
can cotton
Wheat also rose. though only about half a
cent. and this on account Of reports about injury
TO winter wheat. already sustained thought
probable I'm view 81 conditions at the West.
These reports come so regularly about this sea-
son that they have little influence The differing
estimates Of so-called crop statisticlans about
the quantity OF wheat I'm farmers hands March
have the less weight because some OF them are
rdculorsly absurd IN view Of known facts. and
the most pretentous statistics OF wheat In sight
are also assaied with unusual vigor by some al
being wildly at variance with local records
Since Government reports were completely
Grangerized the markets have had nothing bet
ter than these estimates or pretended investi-
cations 10 rely upon. because even these have
proved nearer right than official reports West
ern receipts since January | have been 4 900 900
bushels less than last year. which but for the
extreme bad weather and low price would war
rant some inference. Exports since January
have been only 1872 500 bushels more than last
year. 1t would be one OF the most astonishing
things In all commercial history IT, under the
circumstances this year. the farmers had not
held over much more of their grain than usual
The strike Of about 80 900 men in coal mines
building trades textile and iron works affects
but "A small part Of the population. and yet it
must ~ some extent reduce the consuming power
II is the more misfortune because while the
! confidence 10 produce and to purchase AT whole
sale appears TO have percepubly Increased since
Congress adjourned. the one barrier in sight is
the inadequacy OF retail distribution. AS a con-
sequence there has been more than usual accu-
mutation OF stocks by manufacturers and whole
sale dealers. in the belief that after two wears or
more OF enforced economy the people must soon
replenish their supplies. II spring trade proves
large these people Will have the best OF IT, though
II 1t does not the setback Will be all the more
severe because Of this accumulation. The iron
Industry appears 10 be- largely sustained by the
enormous demand for building purposes and the
ability 10 erect great steel buildings more cheapy
than ever gives employment to many thousand
iron workers who would otherwise be idle be-
cause OF the remarkable stagnation in the market
for railway materials. The demand for wire
nails and bar iron seems better but no material
advance from extreme low prices Is noticed
In the textile works the increase OF 80 per cent
in imports Of drygoods over last year Is clearly
felt. and tends TO depress the wages OF all labor
60 employed. The demand for cotton goods has