New-York tribune., 1895-07-29
MONEY! 4\D III STNESS.

Vacation has come Most ~ the buyers and
r.lirrs are tating r-si. and Will" fcNer works
are stopped ihan usual IN account II the ac-
cumuiai.on = delayed business good many
are repairing. stock-takng or waiting. There is
"a distinct -cantiLess ~ new orders. for most
huyers have ordered what they require. many
works are sold ah~nl as FAR as they care 10 b"
with present uncertainties about cost ~ mate
rial. and labor. ANA the rapid rise IA prices DE-
tors many from buying The revival u doubt
about the crprs particularly wheat. has the
usual rcfariing influence. Thus while the vol
urna ~ husin.s. IL larger than In 1894 or 1893 II
f. smaller than IN I.9e with hopefulness re-
gariiug fan trade everywhere prevailing. II II
evident that much will depend on the yield II
wheat. cotton and corr.
The excitement was I'm wheat. and the price
rose over A., cents The customary reports -
injury and bad thrashing returns would have
l.ss nfuerce II Western receipts were not un-
usually snaI-ln four weeks Of July only $3.50
$50 bushels. against II. .sS3Gi9 last year and H..
200 600 I'm 1893 when crops officially re-
poried less than 800 900 bushels. but were In
fact 100 600 OOo bushels larger. 100000 In lss2
Is 500 ooo in 1871 and 5000 900 bushels IN 1890 the
Las, crop which was actually below i00voe")
bushels Standing alone this comparison might
|
depends largely upon the visible accumulation.
more than twice "a large this year as In 1880.
and upon the price. which averaged 90 cents In
Tulv 1890 70s cents In 1893 and only $40
cents IN 1884 but this year has averaged IL
cents I'm July More important than these con-
| Trajectory influences. perhaps. is the prevalent
| belief that the crop has been much damaged,
and will prove short. and this has kept back
| wheat somewhat extensively. while the absence
| Of foreign demand operates In the same direc-
tion The Atlantic exports in four weeks. flour
included have been only $500. $50 bushels. against
| 1865 722 last year. II shown In the stock
| market that the controllers u Granger railroads
! had no faith In reports Of short crops. but some
Of them count upon corn rather than wheat TO
! help them out. The price Of corn dropped near
! ly a cent In spite Of the rise In wheat
| News about cotton has not been unfavorable
| on the whole. for with too much rain In some
! sections. thera has been much needed rain In
Texas. where about % per cent of the entire
acreage Is found and In spite Of the excess at
New-Orloans the market there has been de-
! pressed by more favorable adviccs. Spot cotton
has not changed. and the decrease In CONNER
| clol stocks here and abroad has been S57.W)
bales I'm July. against $4,000 last year ana
! sg7 900 In 1892 SO that the visible accumu-
lation still exceeds by 1866 bales the
commercial stocks In 1892. Against 5000
bales I'm that year only 5000 have come into
sight In July but Northern spInners have taken
onlv 23 ss7 bales. against 6O27O In 1892. and ex-
| ports have been only $40. against s7.l44 bales
| Adding the heavy stocks at mills here and
abroad. there appears sufficient ground for hest
tation about Scent cotton. without putting much
| confidence I'm the large estimates OF yield by
| NELL
Speculation In stocks has been strong particu-
| I,rlv I'm the Changers which have sharply ad-
| vanced. and the average OF all railroad stocks Is
81 10 higher for the week. while "A considerable
| furry I'm Trust stocks and covering or shorts
! lifted their average Cl cents per share The
meeting OF railroad officials helped to give conii-
lence. because. In spite " many past failures IL
! was thought that the prospect Of permanently
controlling rates was better than II had been
for years. 1t is only "A prospect as yet. how
| eyer and earnings In July are not highly en-
| couraglng Within tn. United States they are
32G per cent larger than last year. owing to the
! great blockade. but ca per cent smaller than III
1898 and l4i per cent smaller than In 1882. and
the classified report In "Dun's Review shows a
| decrease OF 23 on Granger roads 1875 on South
western. 1874 on Pacific. ll.6 on Southern and 10
per cent on trunk lines. Payments through
| clearing houses since the second week OF the
month when heavy settlements on past bust
moss swelled transactions abnormally. have de-
cIiued more than In 1892 the last year Of full bus