New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-01

are extremely low. The wooen mills are meet
ing an increased demand for spring hght-
weights and for dress goods. but there 10
scarcely anything doing in heavy goous ~.
next fall. The purchases of wool-o''of''ooo
pou1 ads in four weeks of January-haVe never
been equalled In that month and not SUI
passed except last November ana IN July VI
1895 and 1892, but are almost wholly specu-
lative. in expectation of duties lhere 10 "o'
much change In prices as yet.
The iron and steel business has not yet I'm
ished the readjustment of prices made necessary
by the collapse OF the numerous combinations
formed I'm Democratic years OF disaster to re-
strict competition. There is some increase III
demand but not enough as yet, it Is evident, 10
keep pace with the increase OF nearly oo pc.
cent in OUTPUT Of pig-iron since october ]. ana
Bessemer pig therefore sold last week at $40 20
and Grey Forge at 80 - at Pittsburg and con-
cessions are reported on Southern iron AZ the
West and on mill iron ut the East, whie
structural angles and cut nails were also shsh'-
ly lower. There is active demand FOR shee'S
and rather better for plates at the west o"ihs
TO car-building. but the railroads are SLOW 10
take rails. believing n lower price WARRANTED
than SD with bets at $50. Scarcely anybody
doubts that the demand for most products Will
materially expand in the spring. The boot ana
shoe works partly stopped, ana yet the
shipments from Boston have been 0o,'Vo cases
larger than last year in January, or 70 per
cent though about per cent less than IN looo'
when the movement was greatest Prices are d
shade SITTER. and for leather no change appears.
All these facts indicate that the purchasing
power Of the people has not yet risen far enough
to support as large a business as was done In
1892 and. in fact, the cearngs in January
- a for han r.
227 per cent smaller than in 1882. Railroad
earnings thus far reported since January
give somewhat similar Indications having been
in the United States alone As per cent less than
last year and o. per cent less than In 1885,
doubtless in part because Of interruption by
storms The stock market has been singuiarly
steady Since January the average OF Sixty
most active stocks has not changed ~ per
share. and closed on Saturday 80 cents higher
for the month. Trust stocks, however, have
gained an average of 50 40 per share.
Cotton continues to come forward freely
in January 657. 900 bales. against o39.VOO last
year and $3.50 in 1895. The exports have
been ZOO larger than last year. but 3i',oOo
smaller than in 1885, and takings OF Northern
SINNERS since September 1 have been 4I,OoO
bales less than last year and $4,000 less than
in 1895 II appears that foreign mill stocks
had increased january 1 olo'ooo poiSS ''''SN
October ], whereas in 1895 they decreased
10000 bales between the same dates. CONNER
cial stocks OF American here and abroad were on
Friday 26S, 900 bales greater than last year. but
So 900 smaller than in 1895. The British ex-
ports Of goods have been large. but consump-
ton in this country has been much below the
maximum.
The most striking event of the last week has
been the collapse and liquidation in wheat,
which was but partially recovered on Saturday
with covering Of shorts, and the net decline was
So cents in spite Of a decrease OF 4,20O,OOo
bushels or more than 40 per cent, in Western
receipts in January. Atlantic exports nave
been 1,9O0,0 900 bushels or nearly quarter less
than last year, but Pacific and other exports have
so increased that the aggregate for the month
will be about 20 per cent more than last year.
The excess Of produce exports over imports
will be smaller in January than in December or
November, exports having increased from New
York only per cent over last year, while i'm
ports decreased S237 600. - per cent, but TO
these exports must be added an increase outside
New-York of over 100000 bales of cotton and
in value an increase Of SJ,J09,S0O besides the
heavy increase in wheat from other points I'M
der these circumstances, the fact that some
long exchange was sent forward for payment
last week. according to one report S1O,OOO,OOO.
Is by some supposed to have prevented the
lowering Of rates by the Bank of England,
though other well-informed bankers believe the
amount Of exchange sent forward less impor-
tant. In eny case England Is still our debtor
many millions on current account.