New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-06
MONEY AVID 81 SINESS.

force and the purchasing power the gain was
large because many establishments, including
some Of importance. resumed work. and many
others added 10 their number Of hands en-
ployed ~ the amount Of wages paid. The
less substantial and enduring forms OF improve
ment. I'm stock and other speculative markets,
were not wanting either. and there was even
more proof than before of public confidence, IN
the strong and widely distributed buying which
rendered enormous realizing sales of little effect
The outgo OF money to the interior suddenly be-
came heavy. exceeding receipts by about SlOoo-
600 40 that the loan market little closer,
and while commercial paper was offered as
| freely. especially in drygoods, it was somewhat
! less freely taken.
| The stock market was assailed with great en-
| ercv and ability OF tactics and at times with
some degree of success. when realizing sales were
heavy But in every instance the new buying
| was found the more potent force. and the aver
age Of prices closed every day little higher
| than the day before. This was especially note
worthy on Thursday. when sales were blooif
| shares and yet the average per share advanced
| from Sj7 "a to SJI 30 and in the short session
! on Saturday sales exceeded 30OOOO shares, with
| the usual selling prior to two days or nactlon'
| but the average Of prices rose traction iur-
| Their. making p clear gain OF more than - per
| share for railroads, while trust STOCKS thouSh
| more irregular In movement during the week.
| gained an average Of 50 per share. News as to
| earnings was generally. and in some cases sur
prisngly, good. and supplied a sound basis Tor
| advance in some OF the most active stocks.
For August thus far all reports are lOI per cent
larger than last year. and but ~ per cent less
| than in lN92 while parts OF the business. es-
pccally Chicago grain receipts. were the largest
| ever known-.,9j.,5 cars in August. against
~ So last year. Total sales during IN" week
wcre 32lO 600 shares Of which Sugar Tobacco
and Chicago Gas covered Ii2on; nine railway
| stocks led by -. Paul with 32?oW shares ag-
grerated 1.lI3.0o0. while other sales extended to
| 40 issues and amounted 10 more than half IN"
entire business lG5OO00 shares, in no one issue
more than $1,000. Such market Is without
| precedent in recent years. and conservatives
who hold Il highly unsafe also find that 1t Keeps
on rising.
Tho grain market has been very erratc. WITHOUT
much reason From 99i cents on Augustus wheat
foil to 90 10 cents on Tuesday. suddenly rose
four cents on Wednesday. with renewed foreign
buvInr and n little moro on Thursday. dropped
/ bock ono and one-haf cents Friday ana rose
| Saturday 10 81 even for the September option
put tho speculative option for December nrst
rose 10 9S - cents and closed about ono cent low
or but with three and on"-half cents advance Tor
tho week Wheat receipts continued close To the
very heavy receipts Al this time last year ana
Atlantic exports. -four included. were ''"f''''
bushels FOR the week against 2.l''.i'' last year
Probably tho receipts would have been larger
but Tor the enormous movement or corn, or
which Western receipts were 1O.0i'.iIo bushels.
against 3 1923 for tho same week last year
n rush to market which. with short crop COM
ing and the time 81 year considered. Is only
IN he oxplained by a phenomenal foreign de-
mand To take the place Of wheat Estimates are
en- conflicting in these days that many are con-
fused but no reason appears FOR attaching any
! confidence 10 nm estimate lower than 'h"'"o""
! hrsh.,s wheat with a probability that the yield
will lac higher though corn Is in Il critical condl-
ton and NAV fall below present indications.
rh. volume OF payments through clearing
| houses ALWAYS larger at the first OF the month";
| vas last week 1913 per cent larger than IN loo-
and 3s5 larger than last year Many hastily
| o,,ruut. such gains 10 stock specializing. ana
! I'm August officially reported sales were ll,iW,"o
shares worth SGJ3.Ooo,Wn. against '1o'oo"'
worth S32l OOOGOo in 1892 But the STOCK TX
| change clearing house. when was s'ar'''' III
| existence i've years ago handed over li""''''
| shares on one side OF the account III ''''''"
to-, ,ht. var narrowing presumably included.
| enormously lessening payments through """N''
| 80 .h, tho increase in other business at New
| York was in fact. relatively greater imam 'Hc
! hank clearings indicate. In many frahcheS II
| ,yas phenomenal and merchants not a t." are
| found who report that they never nave zone
! ANYTHING like such a business at TINS SEASON.
s,.,uor ro,or,s are made Of the state Of trade
81 other principal cities. and II may Nc "'Sc
.. onnon,hor that this rush OF long deferred pur-
/ Of fnEk
most natural and gratifying. may not accurately
| 49,, tho voume Of buying to be expected
| -, ta,.r ponths But it has given the mills
., r,r some months to come ana vastly III
! oased the number OF hands employed WHOSE
| ,ho.os will In turn bc felt In the markets.
| hereafter. $1,000, .hroo
r,oneb most Of the sales of wool at the three
| H., ,,arkots-amounting To Ji,G6o'-3- p'uhuS
| ,,r August and l9l .O69, l32 pounds Tor the
| sour m1aths Of the wool year. "E"'''9'
| III 6oO3Jl polnds in the same months
-, 1soo-are obviously speculative thcre
has been mIre buying by manufacturers
than before. and prices have advanced III
August about s per cent. Actual sellihs prices
~ woollen goods have made no such advance
! since the high quotations named FOR some quail
ties are ayowedly made 10 stop buying Tor the
nresent AZ the mills have all the contracts they
/ care TO take until later. But there mas peeh
healthy advance sufficient To insure large pro-
duct,on for months to come. and the same ~
! true OF cotton goods. The advance In prices OF
| iron and steel products has been quite general,
Int as vet only AZ per cent from the lowest
point and while the demand has greatly IN
! creased for nearly all kinds OF finished products.
the resumption of many works also Increases
the output The expected settlement of the
coal miners strike Will remove an important
cause Of embarrassment in Eastern States ana
this great industry Will then stand on better
footing. The manufacturers of boots and shoes
are still receiving liberal orders for this fall.
though not enough to keep all concerns at work
! full time and shipments in August were slightly
In, eli her nj three nrpNnlIS