New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-22
HONEY IND BUSINESS.

| in refusing to be Influenced In the least by the
| exports Of gold. AS long as business was on the
| down grade, and securities coming this way
and the season of large exports far off. such
| movement caused apprehension But now crops
will soon be moving. there has been scarcely
| any foreign trading in stocks. but STEADY ana
considerable foreign buying Of American bonds,
and tho business of the country has much
! improved that a spirit Of hcpefulness prevails
| instead OF panic. II was understood that the
| shipment. directly resulting from unwillngness
| to pay the rates demanded for exchange by
| the syndicate meant only that they saw no
| occasion to apprehend any evil results II In
| dvduals should 1T to ship some gold. be-
| cause the period Of large produce exports was
! 80 near. Hence. public confidence In the ex-
| perience and ability OF the men who have I'M
dertaken to protect the Treasury counts for
much. and turns shipment Of gold into an
evidence OF strength
1t Is not to be assumed that produce exports
will be as early as large as usual this year.
The foreign wheat markets have taken less
wheat In three weeks of July than in the same
weeks last year. though much more from the
Pacific Coast Foreign stocks are large and
foreign crops promise we'll. The stocks Of cotton
abroad are also so large. OF American $4,000
bales greater than year ago. that the foreign
demand might easily be delayed Exportable
crops though much better than was feared.
will not be full. while imports seem likely to be
large. But business and crop prospects nave so
far improved that selling OF American securities
held abroad Is less likely to disturb. and COM
PARSONS OF earnings from this time on. both
with last year and IN 1898. should be favorable.
Thus It is not strange that wheat dropped
off again. though recovering some on Saturday
after a fall OF nearly two cents. The Atlantic
IL
cIuded only 2s29o2s bushels. while in twenty
one days Of July last year they were 7.o4s.627
bushels and the decline in Western receipts
has not been nearly large though about
2l4500O bushels. Presumably Western pro-
ducers had been led to expect much higher
prices after the sudden hoist early in June. and
are not inclined to market any more than they
can help. Meanwhile. the old wheat Of the Fair
estate and new wheat are going forward rapidly
from Pacific ports. thirty cargoes more than
last year having gone from Washington and
Oregon Corn declined three-quarters Of n cent
though not yet far enough 10 correspond with
the prospects OF record-breaking crop. for
holders DO not forget that the loss after this
date may be heavy.
Cotton declined a sixteenth. Notwithstanding
favorable reports OF the manufacture here
The truth is that the mills are using cotton
and have taken in July only II 500 bales. against
AZ 1898 in the same weeks Of 1892 Exports have
also been smaller. only 47.is9 bales against
$3.50 in 1892. and the quantity which has come
into sight In July is 1900 bales against 5o.2l4
in 1892 In that year about this date 2.53S 900
bales OF American were In sight here and |
abroad. but now 2.6s9. )O0 besides mill stocks |
larger now than then. British exports OF cotton
goods continue 10 decrease. in June more than |
10 per cent and nearly per cent. about |
two hundred million yards In six months The |
demand in this country is strong. with further |
advance In some grades Of goods and at sew |
eral more mills in wages OF labor.
The sales OF wool dropped of below 5000. 900 |
pounds. after II. 700 900 In the previous week |
and 10. 500 900 In the first week Of July. but as
the consumption OF al! mills usually supplied
from the three chief Eastern markets
erages but 100000 pounds per week when all
at work. the decrease only means that
speculation for advance has abated The
price has risen an average OF one cent per pound
In July. but IL still eight cents. or 35 per cent.
lower than in October 1892 Manufacturers
ere buying only as they need. and while their
spring openings not very encouraging
yet in woollen goods. with some reduction in
price they have been very satisfactory In
worsteds. with numerous advances of 2h to
~ per cent over last year. Notwithstanding
many undervaluations. and imports from Great
Britain amounting to 4I.217.2O0 yards this year
In six months. against 7.2S4,9OO pounds last year
and 90 1856 700 In the same months Of 1892 n
growing feeling Of confidence Is expressed The
strike In carpet mills continues. but most other
differences have been removed. While the last
week dull in iron and steel markets to
new business. the works in operation
operation soon. Grey Forge and Eastern bar
advanced further. and the average OF all prices
compared with October. 1890. which was about
81 per cent February I. Is now 20 per cent.
July clearngs larger than in May or June
plainly reflect the unusual delay OF spring trade
which threw forward immense volume of
settlements usually made one or two months
earlier. The speculation attending the rise In
prices OF wool. iron and many kinds OF pro-
ducts has also thrown unusual business for the
season into July. while II Is equally clear that
to consumers has been more active
than usual at this season. But the inevitable
midsummer decrease appears In many direc-
tons. and a less active movement Is naturally
to be expected for some weeks to come. The
banks note a general increase in the demand
for commercial loans. and the money market
proper Is sitter ut most important points.
tnougn FUNDS on call are ABUNDANT The opera
lions OF the Treasury attract curiousy little at
tention, 1t Is felt that the returns are being
sy systematically doctored to make a fictitious
but the actual receipts for the month,
SIS. 1854 in twenty days Of July. foreshadow
receipts for the full month about IS 900 900 less
than In July. 1892. trarsactions In later years
having been abnormal. Imports OF merchandise
for this month have been about s.. 0OO 900 larger
than last year. but smaller than In 1892 al
though in drygoods at New-York nearly 10 per
cent larger than In that year {