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

since cotton was screwed up again TO nine ce".s
after the reaction, and exports last week "e'0 -
ner cent smaller than last year. ana 'ah'"e'
Northern spinners 80 pei cent smaller Neee'p''
from plantations are running short, ana io' III.
crop year thus far 35 per cent smaller ina" 'a''
wear. but 1t IL impossible 10 say how much oi '"e
decrease Is caused by producers holding oack COZ
ton who naturally desire 10 realize ior '"''i
short crop as much for the best ana pisseS'
they ever grew and probably might II the guam
titv carried over from last year were not 90 pei
cent OF the worlds consumption In year
The practical effect Of high prices Is TO cnecn
exports and induce foreigners to supply the"'.
selves from India and elsewhere The "he".
market works in the same way. Prices arc nv
high. Il is true. but are still about IL cent?
higher than year ago. when the crop was u
fcially said to be 400 900 bushels. rh's year
official returns have fallen into innocuous desue-
tude. and the best trade estimates MAKE ''e
WELD about 400 900 900 bushels though 1t may
fairly be said that the movement would .hoica'e
a larger crop. Western receipts In six months
have been per cent larger than last year, were
as large as last year In September, ana ohy
% 600 900 bushels more in July and August But
Atlantic exports In six weeks, Hour lnc'uoeu
have been about 40 per cent smaller than last
year: Pacific exports are larger. and shipments
from other countries to Europe so that the Al
lantic wheat markets are again doing their part
to cause exports Of gold instead of grain.
Stocks have fallen last week II 81 Tor raii
roads and So cents Cor Trusts. and their weak
ness cannot be attributed wholly or mainly 10
foreign selling. or to the exports OF goid which
were not certain until The end OF the WEEK
The obvious fact is that stocks were hois'eo'
as many products were. in the speculative craze
last summer. because people expected compete
revival OF business in spite of all obstacles. Inc
average Of sixty railroad and telegraph STOCKS
was s44 90 in March and $50 OF September s. nearly
% per cent higher The average of Trust stocks
was $50 SO N February and $50 "A In june But
business did not prove as large or profitable as
some expected, and the same stocks now average
$50 90 for railroads and ga 81 for Trusts. and II
not a share had been brought into the country
such an adjustment of prices to the real condi-
ton of business must have occurred.
Industries are emba rrassed by the efforts Of
the Leather Trust the rail combination. the
Nail Trust the Bar Association, the spectators
in wool and various other combinations to main
tain inflated prices of months ago. II may
sound absurd to speak Of wool prices as inflated.
when they are 80 per cent lower than three
years ago. and yet they stick at the advance
of Ia cent for the average of all classes o.
domestic wool In July although manufacturers
continue to use foreign wool largely In prefer
ence The opening If clay worsteds at an
advance Of 10 cents by the Washington Mil is
only evidence OF the especial demand for that
fabric this year for other woOlen goods remain
unchanged. and there Is even question whether
they can withstand foreign competition at prices
averaging % per cent lower than three years ago.
The great increase of imports continues, helped
by undervaluations which the Government does
not arrest. Cotton goods strong having
risen only about 10 per since March, while
cotton has risen So per cent
The Leather Trust has stopped production In
order to hold up prices having on hand quanti
ties of leather produced from hides which were
hoisted last July over 40 per cent higher than
their present value. Outside tanners being
able to buy foreign and domestic hides cheaper
every week have been underseling the combIna-
ton and would soon force down prices far
that shoe manufacture could revive and pros
per- But the belief Of jobbers and OF retailers
that prices OF shoes and of leather must go
down in proportion to the fall in hides is now the
barrier to activity. and causes the closing
OF a large share Of the works. Then the coke
monopoly strengthened during the last week by
purchases Of other works, proposes TO put up
the price Of coke to 81 per ton; the nail combina-
ton and the Bar Association and the railmakers
refuse To reduce prices at all and the new
orders for iron and steel products so scanty
that material reaction Is threatened The
volume of domestic trade has continued about
per cent less than in 1892 although prices
average much higher for many manufacturing
products, but much lower for products Of the
farm.