New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-07-20


he Is most interested would result II his sickness
should prove fatal But the speculative mind
was ripe for apprehensions Of all sorts, with or
without reason and just at time when
/ Granger and Trunk Line roads are beginning TO
move large crop these stocks fall heavily, and
| just at a time when the coal-carrying roads are
doing better than for years past they also sus-
tain a severe decline There was more senti-
mcnt than reason In 1t ALL but so much the more
1t showed the sensitiveness of the business world
to the kind Of attack begun In Chicago.
The outgo of gold had some influence also, and
| the fall Of the Treasury gold reserve and the
deficit Of $11 100000 for the month thus far.
/ The payments postponed in June. In order to
make the account for the fiscal year look better.
necessarily give July returns gloomy appear
ance and the shrinkage Of $1.70O,OOO In imports,
compared with those Of the same week last year.
more than third Of the decrease being In dry
goods. indicates a continuous decline In revenue
| Until the people are more prosperous and nave
more full employment at better wages. 1t can
! hardly he expected that the customs or Internal
revenue will answer expectations. The volume
Of domestic business reflected by exchanges at
the principal clearing houses-10S per cent less
| than last year and ~. per cent less than In the
ga me week Of 1S92-shows substantially the same
| decrease In business appeared In the month
| of May or June.
Railroad earnings are a little more favorable,
| being per cent larger than last year FOR the
first week Of July, and only per cent smaller
than in 1892 and the tonnage east bound from
Chicago is also heavy The Government report
gives assurance Of large crop OF wheat, al
though it Is commonly interpreted as indicating
Yield rather smaller than that Of last year,
| EaIfaf hain hat no
some degree reformed its modes OF reporting.
! and reached results more nearly correct than
for some years past. The Atlantic exports for
July thus far have been 1921 1873 bushels, -four
| Included against ., 403 $50 for the same weeks
last year, and meanwhile the receipts at west
| ern ports have amounted TO I3SoolI busheis
wheat, against only 311S2s1 last year. which
| clearly indicates a prevalent belief at the west
In large yield. The cotton movement Is no
longer very significant at this season, but salts
factory rains in Texas have materially improved
| the prospect, and the price fell from I.31 cents
to 706 recovering to 1.12 cents II appears that
/ foreign spnners added about 44oOO bales TO
J their stocks during the month of June. whereas
last year their stocks decreased 2oWo bales
The quantity which has come into sight thus
| far-69296l6 bales, against 6.i9l. 443 to sub
stantiay the same date in 1s93-clearly indi-
|
bales though only 81. o34 bales have come into
sight in July against ,297 in the same part Of
| July, 1893.
| The output Of pig-iron July l is reported by
THE Iron Age" as 1862 tons against 1920
for the first week of June. and III, lQ weekly
a year ago. but the unsold stocks increased dur
| ing the month OF June 29929 TONS not counting
those held by the great steel companies. and. as
these stocks are undoubtedly accommodating very
fast II seems clear that the actual consumption
| is somewhat smaller than year ago The de-
mand for finished products is extremely light
but at this season not much business Is ex-
pected. The bar association no longer main
tans it's price and steel bars are selling at 81 %
at Pttsburg while 10000 tons of Bessemer pig
have been sold at prices netting only 81 at
Valley Furnace and Grey Forge has sold at
the equivalent of 50 - at Pittsburg. The mar
kets are quite unsettled. and there is growing
impression that material change for the bet
ter is to be expected until late in the fall The
billet pool Is doing very little the middlemen
still having billets TO sell 80 cents to 81 below
the pool price. Wire rods are greatly depressed
and one after another the rod mills are shutting
down A single large contract in the building
line covering 5000 tons for THE san Francisco
Call' Building. is the only noteworthy feature
in that branch of the market.
In the other Industries there is no change OF
much Importance. though the temporary cos
| ing of cotton mills has become more general,
! and IS said to cover about three-fourths or the
| capacity at the South No important change IN
| prices has occurred during the week. The
| woollen mills are doing very little, and sales Of
| wool at Boston are said to be the smallest ever
| kncwn in that market the aggregate for the week
| at the three chief markets being only 2loo,lo
| pounds and for three weeks only Soo69si.
| against 81 $50 III for the same weeks last year
The new orders for boots and shoes have ma
| terially diminished since manufacturers have
endea vored to obtain an advance in prices, but
deliveries on old orders continue larger than at
| this season in any year except the last