New-York tribune., 1896-05-25

considerably smaller than year ago. 1t is
clear that the sum to be paid to foreigners is de-
cidedy larger than the amount named IN the
Custom Houge records There has been no I'M
nortent movement OF securities either way dur
ing the last week although some sales OF bonds
through the Morgan influence have been made
abroad.
II is not satisfactory to most traders that
wheat still seeks lower level, closing at o"''
cents against 80 12 week ago. But IL Is HUI
possible to fight against the continued heavy eX-
cess Of Western receipts over those OF last year
with the continued decrease in exports from 'he
Atlantic ports The Western receipts are ABOUT
:}2 OO0 900 bushels greater than to the same GATE
last wear. and the Atlantic exports continue much
smaller than a year ago, although the crop year
ia nearly over 1t Is no longer possible 10 douot
that the crop last year was much larger IMAM
the official estimates make 1t, end the foreish
demand has been dlsappointingly small wnhe
the outlook for the yield this year Is generaiiy
good Receipts Of cotton from plantations nave
been 122,0S3 bales since May l. against llo'"ii
bales in four more days OF 1893. from the last
short crop and the takngs of Northern spinnef'
have been only 34OO bales larger than in the
same weeks Of that year. 1t is very old story
that the principal speculator finds glorious news
OF coming scarcity the Ody hc wants ~ "N''' N
q market so narrow. with less than 56O.OoO bales
in sight on this side of the ocean. is easily
twisted either way. and meanwhile the crop
news continues highly encouraging.
There is a striking contrast in two great in
dustries Iron and steel producers have been
combining and raising prices. and the market for
their products les about dull as 1t can be- fall
ing far behind the actual output OF pig iron ana
keeping only part OF the mills at work. while
there is some prospect that the nailmakers ana
the producers Of bar iron may presently nc
obliged to reduce their prices On the other
hand. the boot and shoe manufacture haVihs
consented to the lowest prices ever known III 'hat
trade finds demand enough TO keep all the shops
fully employed, most OF them having ORDERS Ior
.orne months ahead and there has been a slight
advance in prices during the last week. with
prospect Of a further and general advance WITHIN
q short time The larger demand for leather mas
stifYened prices little and as hides are scarce
and the demand from tanners at chicago mas
much Increased, the average advance IN prices
Is about per cent. Hides are just no" reia
,,velv higher than leather or boots and shoes.
but the market Is one which nuctua,es very
rap,dIy and with small provocation. The ship
ments Of boots ami shoes from Boston for three
weeks Of May have been 146099 cases accord
in the same weeks last year the shipments were
l,52G4 cases and in 1894 1906 caees.
The cotton mills are still reducing production,
one Of the largest having decided TO stop during
the last week and the extensive drives ana
bargain sales have rot encouraged business as
some anticipated but have rather tended 10
check new demand While print cloths are un-
changed in price with stocks at Fall River ana
Providence closely approaching 1,IOO,OD pieces,
opera tions In prints and ginghams are very mar
row and slow There has been little further de-
cline in clay worsteds and mixtures but other
voollen goods not quotably lower, althoueh
continuing remarkably dull. Sales OF wool al 'he
three chief markets continue so small as 70 IN
dicate plainly the lack Of demand In mahuiac'-
ure. amounting for the week to only -'otH'-'o
mounds and for three weeks Of May nave Dee'
only 01S7 400 pounds. Of which f,>S- .'"' "ere
ao,,ee,ic. while in the same weeks OF 1892 sales
vore II o4S $50 hounds Of which S.t01 100 We're
dones,ic Prices are deci1edly lower. the over
age OF lO4 quotations by Coastes Brothe's, OF
PHILADELPHIA being 1910 cents. against i"13
Nav |: and while London markets are somew 1at
easier. and exports OF domestic wool are tnerehy
checked. there are some reshipm ents Of foreign
wool.
The railroads are not earning rs much per ton
"a they earned last year, altnoush the u"'"N 10
,arger IN tons For the first half OF May the In
crease compared with last year was 80 per cent
but the decrease compared with 1898 was l-'% per
cent. although the tonnage eastoound from |h'-
caeo has been considerably larger than In any
prev,ous year. Payments through the clearing
houses also show a shrinkage In volume Of bust
ness the daily average In May being 101 per
cent less than last year and 15S per cent less
fail, for no half OF
NAV showed liabilities OF S6.7l9O53. against So
1876 last year and S5.011.l16 In the same
weeks OF 1894 the increase being more largely in
trading than in manufacturing concerns