New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-01-27
MONEY AND BIZ SINESS.


MONEY AND BUSINESS.
Wheat cotton. corn. pig-iron and stocks all
have gained more or less during the last week.
I'm, woollen goods cotton goods. finished prod
ucts of iron and boots and shoes are all some
what weaker and neither supposed scarcity OF
supplies nor resulting DEAFNESS Of materials Is
evidence OF growing pr 'sperty. Stocks are re-
covering from their recent prostration ana
have substantial Improvement in earnings to
assist for the returns IN the first half OF Janu-
arv were not only l0S per cent larger than last
wear but 22 per cent larger than In the same
weeks Of 1893 The records OF tonnage moved.
whether at Chicago. St Louis or indianapolis,
chow a decided increase over either OF the last
three years and numerous complaints Of rate
cutting with the official action thereon by the
association indicate that the volume or farm
products moving eastward has Increased de-
c,lealv more than the receipts OF roads for
transporting them The Improvement In stocks
has further cause in the better monetary out
look although a close market IL probable until
the earlier payments for bords have been COM
pcted.
since monetary health depends very much
imam liberal exports Of products at this time
/ because imports continue large. the rapid adj
vance I'm wheat may not be OF benefit except 10
speculators and such farmers as have not yet
sold II IL not reasonable To credit reports OF
scarcity ~ wheat. because the movement or the
grain from farms has been remarkably full ana
free ever since August l. so that receipts AT
the chief Western ports have been lS9'Sooooo
bushels against l07 700 900 last year. an Increase
~ 70 per cent. Prices have been higher than
las, year. at present about 10 cents. which ex-
Mains a more liberal movement. provided farm-
! ers have felt sure that the supplies were large
enough 70 meet demands for the rest Of the
wear but decidedly not II they credited such
stories AS the Washington and some State
officials have been circulating. Nor do Atlantic
/ exports yet equal last years though for the
three weeks OF January about 100000 bush
ia larger but for the previous six months they
/ h,vo amounted to II. 354 4Of bushels. -four In
cluded against 60. 1872 9s3 last year while the
/ Pacific exports have amounted to S,9lS.ysi IN
| the same months against 1884 $50 last year
II IS a noteworthy fact that the visible sup
niles Of wheat have increased only ABOUT
% 200 600 bushels since July |. while the Atlantic
EXPORTS. including flour have been l4'5oo'ooo
less than last year and the Western receipts
much greater The frequent accounts OF nour
/ production beyond all precedents at the west
suggest that the quantity now held In the iorh
Of -four may be greater than usual. Inc price
of wheat has advanced for the May option Se
cents for the week
The cotton market advanced an eigh'h' az II
declined an eighth the week before Out WIFI All
the vigorous shouting and prediction OF h's"e'
rr,cos the quotation IL just where 1t was Jan
nary . and a quarter lower than IL WAS De
cember l. The decrease in receipts from plan
,ations has been larger. 80 per cent this month
against 302 per cent for the crop year thus far'
lint they have been $1,000 bales more than IN
1924 70 a date three days later. and l'.ooo BALES
mare this month which data still point to
Weld of about seven million bales. The takinss
Of summers have been 80 per cent less TINS month
than last year and 80 per cent less than IN ls'3'
and the exports have been 90 per cent less th'h
last year. and % per cent less thah IN 1850
rhose changes suffice to explain the indisposi-
tion of the market to advance with visible STOCKS
., . 525 DIG bales American, though these have
decreased 167. 900 bales In January. Perhaps the
most important fact is that the marketing or
goods both In Great Britain and here. has been
much retarded
Pig iron Is higher. because combinations nave
ordered higher prices for coke and ore but while
Bessemer anthracite and Grey Forge, taken to-
pether are 1913 per cent higher than January l.
nrices of finished products. taken together. aver
age lower eight II the more important IL per
again be compelled. so to speak. to hasten their
buying as they did last year. when coke began
~ Iift iron. but the situation IL very different.
Tho capacity of mills In operation Is clearly far
in excess to the actual demand, as 1t was then
heow demand Though thirteen furnaces in
the Pittsburg region have stopped since the year
began some Will doubtless resume II pig iron
could be held at its present price. The refusal
/ ~ the nail rail- and bar combinations to reduce
/ nrices though much criticised has its excuse
II they believe that the very slack demand for
such products would not be materially Increased
by any change in prices at present The minor
metals are not stronger. Lake copper has been
sold at Is cents and tin though steadier. at 1871
cents. with lead in smaller demand at 3.02 The
price Of anthracite coal has been cut to 81 Is at
New-York, and 81 at Boston
The textile Industries show no improve
ment because the expected demand for goods.
against which many mills have been producing
in advance OF orders. does not yet materialize.
Further declipes in cotton goods. including print