New-York tribune., 1896-08-31


goods were but slightly less than this year.
but the total imports arc smaller than IN any
other August for five years. This brings shrink
age Of revenue. and deficit OF Sll' 'l95'oo- ior
the month to the Treasury. but it has helped 10
change the drain or gold INTO current ~
way
Bevond this there has been a remarkable
movement of the great crops to market. west
ern receipts of wheat IT. four weeks have been
4S9Gyl7 bushels and since July l, In all, ~
36S 4JS bushels against 1907, l23 last year.
and besides these shipments at important
points there have been enormous shipments
directly eastv I'D. Receipts at the seaboard ior
two weeks have 'een about 40 per cent larger
than last year. and all available per'hiooiii
for Europe has been engaged fIr weeks a"ed''
while Atlantic exports since Jiiy l. lour III
cIuded have already bean 17.04O.1sS bushels.
against o o,;s 293 last year The gloomy stories
from official and Other quarters are rehdereu
laughabe by this rapid movement but the rise
to 81 cents In February and the ran 10 oo'a
cents in June have lessened public gulilpilY'
As actual exports. consumption and stochs III
sight show that last years crop must nave pee''
more than 800 900, 900 bushels. against 4o''"o''-
600 officially reported. the belief that larger
Western receipts in July and August i"e""
Weld of than JDD,oooV'o DuS'i'i' - ~
uraI Corn has fallen . cents or more. closing
at 26ss cents here and 2024 at Chicago, ana mas
never been as low at Chicago since II
touched 2Ois cents in November 1861. and ~
cents in September and October but was never
as low before The New-York price is the
lowest ever known; ~ cents in 1870 renamed
the lowest until 40 cents came in 1880, and theh
3Js I'm 1890 and 333s last December. The price
rose to :}Sa4 i'm March. but fell below 81 III july
and has been beating the record ever since.
Cotton cannot move yet in quantities to oc-
cupy much shiproom, bit receipts last week
we're 6S5J7 bales. against G,SO3 last year anu
the rush to market has not only Hl'rd '"e
Street with bills against future shipments pu'
dropped the price from S9s to rs IN single
week The quantity i'm sight since year ago j.
71Gj5,773 bales. cf which 4G2S 1913 have been
exported; 1.Gi5 BOB have been taken by North
ern mills and Southern consumption Is eSu-
mated at 100000. which, with decrease IN COM
mercal stocks indicates that about 2'D'"oo"
bales have either been turne1 into goods or
taken by mills for consumption In thls couh-
try The statement of stock IN mllls VIII pe
awaited with much interest the more II Inc
Financial Chronicle" finds II practicable to in
cude returns from Southern mills also bu'
tho accumulation Of unsold goods has been
large. though recently reuu'ru ny Ht'PP'3' w
many concerns. OF print cloths alone l,?iS'o"
pieces remain after last weeks reduction ana
tho rise to % cents. 1t is reported that Nell
is about TO predict a crop of 9O0o.OOO bales: on
the increase in acreage and the Government
report of condition 924OOOo would be nat
ural conclusion but official reports are worth
little either way.
Stocks recovered after McKiney's letter more
baI Lost N - k.
closing an average of % cents higher for the
week although they had first declined Gi cents
Tho yolum, Of business in August has Deem
smaller measured by clearings. than in any
other month for many years except June ana
August 1904 and August and September:
1S93 being 90 per cent less than last year ana
rs per cent less than in 1892 All have no.
ticed the increase in failures which has
doub. cause i'm the tightn ass of money ana ths
depression of manufactures. Al bottom the
liberation of the Moore speculation at 'hicas" Is
tho secret Of much trouble and OF the WIN
drawal Of much money from New-York by
Western banks The iron industry shows no I'M
nroven,ent and several other concerns have
slammed production In woolcns the stOppage OF
several Garnet works At Philadelphia and
yonkels is noted and though a slightly better
demand for goods is reported. sales OF WOOL IN
August were but 9.J9J,3O0 pounds against %
100 400 last year. and %. 13j,GO2 in lS92
better demand appears for cotton goods. with
SLIGHT advance in a few qualities. but most of
the mills which stopped under agreement until
Sente,nber now find it undesirable to resume
work at present.