New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-07-12
time Of an important strike. but It was generally


bituminous coal at important Western points
were unusually large. 1t was therefore with
some surprise that railroads In Ohio were found
conflscatng coal shipped over their lines. on the
ground that 1t was imperatIvely necessary 10
their working. before the strike had lasted
single week Some mines which were reckoned
certain to continue I'm operation have ceased
and the miners organization is now making the
utmost effort to influence the West Virginia
men, on whom certainly depends much OF the
duration and perhaps even the result OK the
great strike AS the miners OF that state Sc
cured great advantages by keeping at work
when the last great strike occurred. ana thus
capturing much business from others. their par
ticipation this year has not been considered
probable.
But extensive strikes are not long lived, and
the suspension Of bituminous coal-mining can
not he treated az more than a temporary hin
drance to Improvement Decidedly more lasting
i'm influence are the prospects OF most satisrac-
tory crops In this country and OF unusual de-
mand from abroad The Government crop reports
were as to direction fairly In harmony with other
Indications though nearly all other accounts
would apparently indicate greater Improvement
since June I. The accounts Of foreign shortage
are contradictory as usual at this season, but
California dispatches show that wheat Is actual
~ being loaded already for Cape Town and also
for Australia. There Isl no reasonable doubt
that the crop in this country Is large and larger
by many million bushels than that OF last year,
from which over 140.OOO.OU bushels. flour In
cluded. were spared for export Prices rose
sharply on Wednesday and Thursday but have
lost most Of the gain. with Western receipts
small and Atlantic exports for the week signify
larger than last year. Rains have removed an
important danger as to corn in several OF the
States.
What basis exists. II any, for an advance IN
cotton TO 194 cents. with scarcely any trading,
cannot easily be explained. There were the GUS
tomary accounts that rain was needed In con-
siderable part OF the cotton growing region. out
there also accounts OF light rain and official
predictions of more The quantity which has al
ready come into sight was S3l3W4 bales to
Friday night. according to THE Financial
Chronicle" and while Northern spinners bought
more than usual during the week. it was an
nounced that a considerable number OF the
larger mills have stopped operation for time.
without formal agreement so far as Is known.
there is obviously much concert OF action to re-
duce the output. 1t is stated that stocks on
hand are In many branches inconveniently large,
been expected to justify the accumulation. The
woollen goods market has not materially
changed. though the trade Is considered in bet
ter condition than for some years past. and In
some purchases OF spring goods an advance OF
per cent has been obtained AS soon as uncer
tainy regarding the terms q the Tariff bill about
wool and woollens has been removed. somewhat
active dealings in goods are expected, and mean
while in raw wool the sales last week were H.
10000 pounds OF which little over half I,l3l,-
600 pounds were foreign. the demand for do
nestle stocks having much increased. 1t APP
pears that prices in the interior are still held
altogether above the parity Of quotations at the
seaboard.
The shipments Of Lake iron ore at the rate
OF a million tons per month, with further sales
at the extremely low prices heretofore men
toned for Bessemer. and less than 81 per ton for
some non Bessemer ores indicate that the
manufacturers who making the most OF
their usual summer closing have ground to ex-
tect large business later in the year. Indeed
many of the establishments, including some
Of the largest have not closed at all as yet. but
are still crowded with work. Labor questions
have been partly settled already, and II IS be-
lieved can be settled in all branches OF the manu-
racture without much delay. but the influence
of the bituminous coal strike on many branches
which require coal for fuel cannot yet be exactly
measured Prices Of iron and its products have
not yielded further. and may naturally be
strengthened somewhat during period OF par
tial stoppage.
The stock market continued to show that OBJ
stinate strength which was so noteworthy for
six weeks and the general average Of prices for
railroad stocks reached the highest point touched
since early in May last year. The dealings were
narrow. and after the elaborate effort to get up
another scare about the currency and gold ex-
ports. the strength shown is significant. Nor
is the volume Of business slackening as much
as might be expected in midsummer for the
daily average of payments through clearing
houses in July thus far has not been smaller. but
slightly larger, than in previous years. 90 per
cent more than in 1896 and fifth OF per cent
larger than in 1892 Earnings Of railroads were
also encouraging. and the stories Of important
selling OF American stocks on foreign account
were not warranted by any trustworthy infor-
nation obtainable nor were they In harmony
with the course OF money and exchange mar
kets