New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-09-20


and outside New-Ycrk the exchanges are larger
for the week thai. in 1892 By Ill per cent. For
the month thus far New-Yorl included the ex-
cess Is H. per cent Should the same rate OF III
crease continue during the month 1t would be
not only the largest September on record ou'
exceeded in other parts Of the year by only SIX
months In twenty years. Railway earnings are
also encouraging, In spite Of all wars OF rates,
falling but 6 per cent behind those OF l"o-' ana
the eastbound tonnage from Chicago In Septem-
her has been Il per cent greater than In lS?-'
The victory Of the Bank Of England over the
councillors who were trying TO force it 10 raise
its rates is incidentally. sort OF international
victory also. making it probable that France,
instead OF England, will have to spare niuch u
the gold that may he required to pay FOR Anierl-
can wheat. at least for the time The sharp de-
cline In rate of exchange has now mace eoio
imports from Paris possible without apprec'a'ie
loss but 1t has been largely due to the rush OF
bills against cotton to be shipped in IN" tuture'
such bills having been offered largely since the
price Of cotton declined. Rarely has there pceh
a more sensational fall than in cotton since the
end Of August. when 81 cents was quoted iof
SPOT middlng upands. BY September the
price had fallen thrce-quarters OF cent. ana
fell sixteenth more the next week and nine
helpful to Southern producers, the decline
greatly stimulates foreign buying. Merchandise
exports are not as yet surprisingly large. though
II per cent larger than last year at New YORK.
where imports have decreased 1913 per cent. but
the cotton movement will bring different state
Of things in the future Atlantic exports
Of wheat in two weeks S.S20.313 bushels.
-four included against I.101.I21 bushels last
year with over 100000 bushels from Port
land besides 1TJ.3j2 bushels Of corn, against
:, oS7 S16 bushels last year. gave Europe some
thing to pay for. and, moreover. Londons buy
ing Of securities last week. said to cover So,ooo
shares net also had considerable influence
The stock market was vigorously attacked on
Monday. as usual and the average OF activ"
stocks declined - cents per share but rose II
cents on Tuesday and A. cents on Wednesday,
while Fridays rise and Saturdays small de-
cline made the net advance IL cents for the
week The so-calicd trust stocks. In when men
apparently put trust because they know notn-
ing about them. declined on the average %
cents for the week Again the market grows
broader. and sales Of the two gas stocks ara
Sugar yielded but 2sj.rW shares and OF the
nine railway stocks most largely sold only
! lbs 900 while ~ 40 other stocks over l,Sli.WT
shares we're sold In such market not even
Iondon's rcported purchasing ~ $1,000 shares
can have a great influence. While about
$1,000 600 in money went to the interior. to aid
I'm moving the crops the aggregate Of CONNER
cial loans at banks Of this city has not. on the
whole. been reduced although I'm preparation
for crop moving needs many 81 the banks are
now carrying a larger proportion In call loans.
Resides the termination ~ the coal strike.
there was much increase Of the working force
10y starting Of mills and factories in no way az
fectcd by that event The iron and steel works
have steadily increasing demand which. as II
catches up with the capacity ~ works in opera
tion in one branch after another. causes a
gradual advance in prices which has not yet
exceeded about per cent from the lowest point
over touched With really heavy demand for
structural forms. for bridges the Santa Fe
RAILWAY. the elevation OF the Fort Wayne track
at Chicago and the Harlem bridge here. and
for the ma, rial to he used In building many
thousand cars for plates required in construc-
ton II lake vessels and for wire for fencing and
nails. IT is evidence Of good sense and modera-
tIon that prices OF iron and steel products have
not been hois;ed much more.
The holders of wool have gone 10 work the
other way. and have crowded NJ prices by specu-
lative operations go far that n reaction might be
disastrous The belief that foreign supplies will
he short and tho notion that wool manufactur
crs can get much higher prices for goods as
they please have served to advance wool so far
that many II the mills knowing their limitations
as to values Of goods. are inclined to use up the
wool on hand and take few contracts running
far into the future. The demand for goods Is
large but is to some extent limited 10y the indis-
position II manufacturers and agents 10 commit
themselves much further. The hosting Of hides
AT Chicago. over 81 per cent since April In spite
of large receipts of cattle. has put the boot and
shoe industry into difficulty as 10 future opera
tons since holders Of leather have advanced
most important qualities more than 10 per cent.
But hides turned downward sharply at Chicago
last week With few orders for spring goods.
the shoe factories are just now surprising all
records in their shipments from the East FOR
Immediate needs. but their advance In prices
averages less than per cent. and yet retards
purchases for spring materially. The cotton
mills are running pretty full. with enough de-
mand To sustain n moderate advance in prices
which may however. be difficult 10 maintain II
raw cotton remains below seven cents.