New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-01
MONEY AND BUSINESS.

/ II Is agreed on all hands that improvement
continues. In spite Of some retarding influences
Strikes in many woollen mills. Of which scarcely
any information Is published and the possibility
Of "A strike in the Mahoning Iron Works, retard
progress. and in some respects the outlook for
coming crops Is less favorable. But money mar
! kets are stronger without agitation, foreign ex-
change is well reg Hated Government receipts for
the month have been large railroad earnings are
little larger than last year. and payments
through clearing houses average a little better
for March than for previous months. 1t is not
exactly a good sign that speculative markets are
| generally strong. and yet 1t ~ another symptom
! OF the growing confidence.
Higher wages for coke workers have been
| legitmately followed by an advance Of 40 cents
! in the price Of coke at Connesvl.le and this In
| turn by an advance of 81 cents in the price of
/ l}essemer iron at Pittsburg. The weak point
| in tins movement is that yet there is no cor
responding Increase in demand for finished
products Of iron and steel. though the strong de-
mani for structural forms continues unaba led.
| owing To new competition. however angles are
! shade lower. and also bar iron. though the
Mahoning mills have not yet established the de-
sired reduction in wages for pudding and finish
ing The whole market /, in a transition state.
since nobody tell how far the increased cost
Of coke will curtan production by compelling
furnaces t. close. The hope is that largely In
creased buying may be stimulated by the GER
,ainty that prices have started upwarl
This has been the general result in the boot
and sho. market and most jobbers have closed
contracts AT some advance over last years prices,
although some large contracts have been made
without any advance The unyielding price OF
leather with "A constant tendency 10 advance.
enables the shoe manufacturers 10 get part OF
the advance in prices which they hold necessary
in order To compensate them for higher cost ot
materials. As yet the orders booked are con-
slderaby smaller than usual. and II remains To
b.. seen how far the jobbers right in claim
ing that they could not sell anything Ike the
usual quantity at any advance in prices. The
ris. In raw cotton. though not continued the last
week. has encouraged more buying Of cotton
goods AZ rather better prices for the coarser
grades. and th% market looks decidedly more
healthy. although fall in the raw material
would disIppoint jobbers who have bought
largely In woolIens ii is between initial and
recorder seasons. and little activity is TO be eX-
iiec,rd but the cancellations In low-grade goods
and the reported large orders for foreign goods
, i'm the better grades are discourag!ng. and yet
IN. heavy sales ~ wool. l9.5i6.2oo pounds in
March. against l79l90o0 last year and 2l,l3po
in 1892 show that manufacturers are hghtng
competition hopefully
The speculation In cotton rested last week and
saIrs wcr, about half those Of the preceding week.
with prices fairly maintained The quantity
which has come into sight il now over s,oooVoo
bales with j6i. 1873 bales In March. against t+olo
I'm 1892 and to the 9Oi5.o1s bales thus far re-
ceived and the 1884 A. bales brought over from
las, wear must be added i've months receipts
from plantations while the worlds consumption
IL estimated 10y Ellison at s24S0oo bales OF Ameri-
can cotton IL follows that more than 1850 900 bales
are already in sight beyond the worlds needs for
the year. and the intended reduction OF acreage
ought f. be- fully a third The price OF wheat ia
a shade stronger. but without reason In the state
~ demand and supply. although Western re-
ceipt. since January have been 49,. 5000 bushels
against 2362926S last year. while Atlantic ex-
ports were 90 5O6.Ooi last year. against 2223s4Si
th. year Pacific exports have been about TO-
700 900 bushels against 500 900 bushels last year
Meats are rising rapidly and will make the cost
~ living dearer for most people because the sup
plies Of corn for feeding have been short.
Persistent and quiet strength has been shown
I'm tho stock ma rket and railway stocks averaged
al the close 80 cents per share higher than week
ago with Trust stocks only II cents per share
higher The earnings within the United states
I'm three weeks Of March. IA reported by 'Duns
Review" are 10 per cent larger than last year
but l16 per cent less than in lS92. The tonnage
from Chicago eastbound for the month OF March
is still 80 per cent less than last year. The ex-
changes through clearing houses nave averaged
for the month of March 81 per cent more than
last year. but $50 per cent less than in 1873
showing a smaller decrease than In the month of
January or February. There has not been as
much buying or selling OF stocks on foreign ac-
count the last week. but the balance has been on
the side of buying. so that foreign influence. II
not important, has been on the whole helpful
II IS the prevalent impression that pools nave
been organized To buy stocks abroad In aid OF the
bond syndicate. but the buying was not suii-
GENTLY sustained during the latter part of the
week to support that idea. Without any COM
bination or pools foreign investors might reason
ably have faith in the future of the country.
Imports at New-York for four weeks have been
SAB SAL against $40 23i last year but of this
49, 3s4S47 were OF drygoods, against s.56l,6S last
year. so that the value OF other Imports was less
than $780, 400 OOO against 1872 900 last year. But
for the heavy imports OF drygoods. the foreign
movement would present no discouraging feat
ures The exports not large, and a consider
able excess OF imports Is to be expected, but the
foreign exchange market has been controlled by
the syndicate with ease and II Is claimed thus
far without expense. Government receipts for the
month have been only 207 less than the actu-
al expenses. and have been swelled by rise in
customs receipts to si4s29 7s9 This is largely be-
cause of the drygoods imports, and 1t Is the be-
lief OF many that retail stocks are SO short and
consumers have restricted purchases 80 largely
that very heavy buying for consumption may be
expected The increase in commercial paper
offered is large but in the main Is from the dry
goods interest