New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-29
NOAIY IND RENLNENS

II he's not been a brigh, wccl, In business. AMI
everybody knows why. The overwhelming
strength shown by silver men In Democrat,
crnvcr''ilus las impressed Wall Street with a
doubt whether 4 frre-silver combination may
lot be made strong enough - win. Talking
politics to most Wall Stree, men r. Ike talking
Strscr.t - southern field hind for they
3, far innocent u the very alphabet OF political
facts that almost any yarn looks plausible TO
them Hut behind The average Wall Street man.
who knows nothing OF politics. there Is SIN all
but strong contingent which knows that the
rest Of IN" Street knows nothing. and makes
beta on that fact. This set sold last week. fore
3, ling that the Street would be profoundly Inn
pressed with all sorts Of stories b. fore Novem-
Der Sales not very large. and practically
half were or three stocks sugar, 10000 shares:
Tobacco, $500 and Leather preferred II 400
The average OF Trust stocks decllrel 81 ~ per
share for the week. and the average OF railway
and Telegraph stocks. % cents per share But
the tonnage Of railroads "a s.bound from Chicago
is larger than ever Mt this season. and the
earnings OF rilroads In the United States for
June. thus far have been 40 per cent more than
last year, and only 10 per cent less than In
June 1892
II il apparent Inconsistency TO cell stocks and
at the same time to count upon large crops but
Wall Street Is never more shrcwd than In bet
ting It's own want OF shrewdncss No matter
how solid and favorable the facts may be. the
Street Is apt t. get frightened out OF its wits
more than once this year. and the men who sell
may with reason hope t. buy back at profits.
Wheat fell y, ents last week. although Atlantic
exports for June amounted TO 1861. J27 bushels
-four included. against 40l3437 last year, an
Increase which seems 10 presage a heavy SUM
mcr demand abroad but the Western receipts
were 0,551.27S bushels against 5.95I.t05 last
yoar. While the prospect for large yield Is
not quite as bright as 1t seemed a week ago the
be st authorities consider It practically certain
that the crop. winter and spring wheat together
will be larger than last year. while the quantity
Of wheat carried over including about As 900 600
bushels In visible supply. Is a little larger than
Il year ago
The drouth In parts Of Texas. and complaints
OF too much rain In Mississippi, have not pre-
vented a decline of an eighth in spot cotton. with
fairly large transactions The weight OF large
stocks here and abroad has much influence. but
the failure to market goods manufactured prob
ably has still more. The decision OF Fall River
mills 10 run only half-time In July and August
the independent stoppage OF some Of the largest
mills in Massachusetts and Rhode Island. ana
the meeting Of Southern cotton manufacturers
to-day to consider curtailment Of production all
indicate material decrease In the sales Of cotton
goods. which. In It's turn is evidence that the
consumption has fallen much below production
and this seems TO be the fact In other countries
also Comparing with the last short crop year
European visible stocks are found decreasin In
June more rapidly by G3,O0O bales while Ameri-
can visible stocks decrease less rapidly by 40 600
bales. than In that year. while exports In June
have been GO,OOO bales less takngs OF North
ern splnners $1,000 bales less-only about half
as large-and, meanwhile. the quantity coming
into sight In June has been 96 go bales. against
81. loo in that year
Shipments Of gold-$95O,O00 last week-may
perhaps be the last for the season. as some bank
ers believe Attention has been called repent
edly to the decline In imports OF merchandise
which has continued through the month The
following shows the value OF all imports at New
York for four weeks and the value Of drygoods