New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-09-07
MONEY AND BUSINESS.

of that week helped TO establish confidence
gold quickly began to come hither IN iarse
amounts engagements already reaching apou'
SD. 900 600 and the arrival OF Slo' of'foo 'as'
week with the Vermont election ana the hoHi'-
nations at Indianapolis has prought ABOUT
feeling Of great confidence and STRONG rise III
securities Railroad stocks advanced last "eeh
an average of 81 81 per share, Burlington ieau
irg with Jls Rock Island with 49s, ana 81 ra"i
with 37a while Trust stocks rose an average vi
S2G1 per share Sugar IAs. Tobacco o'2 anu
Chicago Gas 80. Sales Of five Trust STOCKS
covered 4lG 1872 shares, Of seven railroad stecKs
81 S13 and of all others Z0-9o' hiahi"s
l. 19O9JO shares for the week This rise IL inc
more significant because it comes IN spite Oh
poor returns Of earnings, which, FOR the last
week of August, excluding heavy gains oi
Canadian and Mexican roads show deciihe
of 1914 per cent in the United states ana ior
the month thus far reported were 81 per cent
less than last year, and 1j.4 less than In Io9-'
The eastbound tonnage was about as large as
ever at this season. but the westbound move
ment OF merchandise was light, ana rates are
cut on some Western and Southern lines Inc
Street is not thinking of earnings, put OF the
revival of business which, in proportion as IL
is clearly foreshadowed by political events
everybody strives to anticipate.
The gold receipts have already lifted the
Treasury reserve about S3,OO0,0OO, in spite OF
the deficit Of S92i521 in I'VE days of Septem-
Der But for this leakage, the so-called emo
less chain would be forgotten. for with de-
creasing imports gold comes in Instead or gong
out. and nobody wants gold in place Of notes
with the prospect Of Republican policy. The
decrease in merchandise imports last week was
174SOOO, compared with last year, or ABOUT
20 per cent, while the exports FOR the latest
week showed an increase OF nearly :" pei
cent In August exports were about 10 per
cent larger and imports about Is per cent
smaller than last year. the net gain cahceiiihs
last years excess of imp )rts, which was 3d.
100000. Last year in September the excess OF
imports was SO, 1921. but single week mas
cancelled over half of it, With growing cohh-
dence In American safety. moreover there VIII
surely como foreign investments here Decaus7
other outlets for accommodating European capnai
in Argentina, South Africa and Australia nave
been disappointing and are discredited. More
is being done in commercial loans fhan ior
some time though the offers Of good paper are
not vet large as rates have not been greatly |
reduced.
Revivirg confidence helped. if it did not
wholly cause the rapid advance in cotton, which
rose fve-eighths of cert az 1t fell three-quar-
ters of a cent the week before while crop news
is at least as favorable as it was, and receipts
for Sentember thus far have ,een lol.Voo baies
in five days. against 36.213 bales in six days last
year The takings Of Northern spnners were
smaller but the exports nearly four times as
large as last year Tho obligation OF mills 10
remain closed under agreement terminated sep
TENDER l. but while some have resumed.
much larger share apparently. have not as yet
holding as large stocks OF goo Is as they de-
sire until the demand for consumption mas
definitely increased, But the curtailment OF
production has made the market for goods bet
ter and more hopeful ana prices of several
grades have been advanced fraction. There
are also some encouraging signs regarding the
woollen manufacture although no better de-
mand yet appears for mems wear goods, and
the great sale Of $4,000 pieces Arlington dress
goods resulted it is stated, in prices averaging
20 per cent below recent sales. The number of
mills at work does not yet increase, but some
large purchases of wool have been made for
speculation so that the transactions at the
three chief markets 4,3II,6O0 pounds,
about half as large for the whole month Of
August Prices have not yet advanced, but are
hrmer
The delivery os shoes continues large, about
II per cent larger than last year for the last
week though nearly much smaller than for
the same week in 1898 But new orders are few.
and a good many shops have reached the stop
ping point. though in few branches. espe-
cially in wOmen's grain and buff shoes. there
are makers having orders for two months or
ten weeks ahead. 1t is still the fact that or
ders are mainly for the cheaper kinds. There
are also distinct signs of better feeling in the
iron manufacture and trade although as yet
no increase appears in orders for finished prod
acts. More than a week ago very large pur-
chases OF pig iron were made at Chicago, and
last week purchases of 10000 tons from the
| South. in part by New-York buyers. and these
speculative purchases have not only relieved
the market OF quantities pressing for sale but
exhibit such faith that the bottom has been
reached as to encourage rise Of - cents per
ton in Grey Forge and 81 cents in Bessemer at
Pittsburg Prices OF finished products are still
unchanged The further advance in anthracite
coal is also regarded by some as evidence that
the manufacturing demand is expected to i'm
prove.
Speculation in wheat fails to lift the price.
which declined IA cents la It week on account
of heavy receipts. J.2Io.iU bushelS Tor the
week. against 45J0104 last year, the increase
since July having been % per cent which is
! by no means offset by the increase OF CD per
| cent in the Atlantic exports. flour included for
the same period Believers in short crop are
digent in giving reasons for rapid marketing
/ by farmers at remarkably low prices but ex-
perience has taught that farmers do not make
haste to cell at ~ cents less freight to New
N
to make low records. and touched 2ois cents ON
Saturday at New-.york. 33% having been the
lowest New-York price until this year. Re
ports are that nearly all the crop Is out Of
harms way from the frost and II Is generally