New-York tribune., 1896-11-23

an army Of short sellers follows. and, II there Is
real absorption Of stocks by investors ana hea'y
operators. usually gets itself entangled III i's
own devices. The course OF railroad s'ocAS
for the last four weeks indicates what mas nap
pened The average for sixty most active s'ocn'
roc. from SAT 70 October 81 to $50 81 Novem-
hor and in spite OF much selling to $50 ~ No
rep,her H. and all the realizing here ana
abroad during the last week has only lowered
the average to $40 81 per share Nearly all .he
advance has been held by the steady apsorpt'o'
Of stocks, in spite Of dscouraging repor's vi
earnings This appar ,ntIy indicates that the
absorption has been greater than at any o'her
time for years
The wheat situation is even more easy u "''-
derstand When the accounts or dehc'eh's ~
foreign crops first appeared. there was " !"
,ush TO anticipate the coming ADVANCE anu "
was stimulated by official reports WHICH, u '"e
credulous reader, indicated yieiu n'a"y INN
ion bushels smaller than has actualy pee'i "
vested The price went UP without muc" 'u"s
ment and so far that proht-taRihe 'ul"'"
dou.ru.ord again. News of rains in India ana
of rather better prospects IN soihe "'i'e, '''No
oa,ds with continuing increase in visible sup
ply here which is now larger 'han s.r
.a,.o Contributed TO produce reaction, ana ye'
Z hpff
l., xovemher II is true. Atlantic exports nave
49,, i. ,ol I'M; bushels. flour included, against
-c2 7i3 last year. and In the four previous
.,,, ,ccIc1s1 bushels. against W.S60449
Ice, v.ar an increase of nearly 30 per cent put
r,e. ,,,ovement has been and continues
romarkably heavy Already about halt the a'-
,.., ,,oroo.e ~ 5OOOOOOO bushels In en-
.,r,s for ,be year has been realized ana ire'sl'
nh
80, ,,rreasonable to look for somewhat
,,, ..,oos although the nearest option de-
-,,,,o,, ,ost week about cent more than II ao-
..a,ood tho week before. but is still ~. CENTS
higher than a month ago ,.,
,r, o,,to, speculaton has lost three-e's"'"'
, , oo,, the last week and half cent III '"'
noo,,s tho ouantitv coming into sight IN NoVe"-
-, ,hu. far having exceeded last years hea'y
| ,,n oon holee and since September !, '"f'''"
-, I, 10 \ fact worth noting that exports
nn,o ,,,,sr away nearly 10000 Of this increase
uhue takings OF Northern spnners nave zee"
| - ooo boIes smaller than last year In November
49,, ,ar and stocks of American cotton here ana
| -, or. practically as large as they were
| - ~ print cloths are a shade lower, ana
| -, ,,d for goods though somewhat IN
| .oosod has rather disappointed expectations
| pr,otl, tho chief difficulty Is that the price Oh
| cotton was lifted so far month ago or more anu
! With +, the prces of staple goods, that many
| ,o,ors i,c,ine to wait as long az they can. The
| ,,,,, ., wool is also much diminished the
| ,,r,,r manufacturers having supplies beyond
| - ,rasen, needs The rise in boots and shoes
also checks further buying. though many OF ,he
,ou1s bave enourh orders for weeks ahead. taken
| before the latest advances. but with leather
and impOrtant KINDS
| ~ pcr cent above the lowest point. and hides
s,u climbing at Chicago. now 514 per cent above
| the lowest point last summer II is claimed that
the advance In shoes OF 10 per cent Is quite jusi-
| fed
Pig iron did not advance further ana Besse-
| ,ror IA a shade weaker the prospect for the near
| future seeming TO depend greatly upon 'ne sue
| cess o, the various combinations. which have so
| FAR decided In each case 10 malntaih prices Inc
| hu,o, nool changed ns basis OF allotment. as
| was expected. but there Ia said to be the same
| douh, os before whether It will be able to hold
| prices. and the Beam Association endeaVored 10
| s,,s,air Itself by an allotment though II Is ad-
mitted that prices have been made below those
ocrecd upo,. The uncertainty resulting from the
| attitude Of thcse various associations ana from
| the opposition To- them seems to materially re-
/ tard improvement III '"' "'" ""'''' ''
whole. though !; IL gaining
| The nnanciaS situation is favorable. over
| 81 100000 In money Of various kinds came back
ia this city d,iI.ng the week. and the Treasury
gained about ss much. Notwithstanding It's re-
| fusal 10 receive gold for legal tenders. and the
remarkable increase Of S2i 037 500 in deposits of
| New-York banks. following the increase OF So
| 9I99po the previous week. gives some idea OF
! the amount Of funds temporarily Withdrawn in
| various ways from free use at this centre But
the selling of stocks foreign account still af-
! fcc,s foreign exchange. although the increase Of
merchandise exports compared with last year
continues great. and last week the aggregate was
the largest recorded at New-York since the
second week OF October. 1890 The Imports are
| gaining slightly. but stu II per cent smaller
| than last year for November thus far.