New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-03-01

orally learned that full and lastlns prosperity
cannot come until better employment and wages
| enable the people to purchase as they Formerly
| did
| The reports indicating business TRANSACTIONS III
| the past still show great shrinkage compared
| with years Of prosperity. Thus exchanges through
| the principal clearing houses which reflect In
part sales of goods months ago and in part settle
ment on more recent but still past business. aver
aged per business day &c per cent less in Febru-
airy than last year. and 500 per cent less than In
| the same month of 1892. Much of this decrease
| is owing to stagnation in speculative markets at
| New-York but the daily average at other cities
has been S62 912, 900 this year, against SoI,6O9-
| 00O In 1886 a gain Of % per cent but against
| S12,G46,000 in 1892, decrease OF 13.4 per cent
| This Is not reckoning the new Lincoln holiday,
| which not very generally observed. But the
record OF settlements on account Of railway ser
| vice, also covering goods produced sold ana
transported in the past but at less distant dates
| shows within the United States alone n gain OF
So per cent last year. and a decrease OF
| only So per cent compared with 1S92. Part or
| this difference is due to cutting Of rates III II
| were possible to give an accurate record OF new
| purchases made or orders booked, 1t Is probable
| that some gain might appear even over lS92. ow-
| ing to the enormous transactions in iron. rails
| and wool.
While conservative estimates put the actual
| contracts for steel rails at something over a
million tons. statements published would imply
| sales much larger. Chicago dispatches assert
that the Illinois Steel Works have orders for full
| capacity for eighteen months, which would mean
about 100000 tons. and Pltsburg dispatches
| assert that the Carnegie works have orders
more than year ahead. which would mean
| about one million tons, besides all that the other
| works have taken. The allotment this year was
| for the two great works $50 per cent, for the
| Iackawanna 100 the Cambria, Bethlehem and
| Pennsylvania each S25, and the Maryland works
| 90 per cent Naturally there Is some DISPOSE
| ton TO represent each rival gaining In compari-
| son. but the orders apparently exceed conserVa-
| tive estimates. Sales are still reported at Sli
| ut Pttsburg, though Eastern works name ~
| The markets for other iron works are Irregular;
| for nails very large. with prices unchanged for
| plates including some large orders for chicago
| and Buffalo elevators; for bars, more active,
| 900 cars having been ordered for the new Car
| negie railway and many at Chicago, and all at
| tempt to control the price has been abandoned
| by the association. American makers are sell
ing cotton ties below 10 cents per bundle. though
| 81 10 was asked early last year for foreign. and
tin plates are still sold at 20 cents per box below
| the cost of foreign. Thus vast quantity OF the
work secured is at prices which as yet cannot
| yield much profit
The sales of wool have fallen off because West
| ern holders demand higher prices, but 100000
! pounds of South American cross-bred have been
| bought by one large mill, and in four weeks at
| the chief markets sales have been 3S,311,2OO
| pounds. against % 209,550 in 1888 and %, 266,
| 800 in 1892 Sales in the three previous months
| had been over 1000 900 pounds. so that about
| 14OOOO.oOO pounds have been taken in four
| months since the election very largely se.ected
| by the different mills for their especial needs.
| Yet the consumption of the mills supplied by
| these markets If all were running full, would be
| in that time about 100000 pounds, and not
| over half the capacity of the machinery has been
| at work Since the mills seem to have laid In
| supplies approximatng half years require
| ments ahead II running full the great syndicate,
| Of which fairy tales are being told. can hardly
| have bought its 500OO00O0 pounds In this coun-
try and would not be quite sure Of the supposed
| profits of S5OOOOO0O if it had all the wool. The
| demand for woOllen goods is better and has
started quite a number of additional works.
though prices are unchanged. The increased
purchases of boots and shoes have also started
more works and the cotton goods division is the
| only one in which production seems to be for
time diminishing.
Wheat has fallen from 81 cents to S0.SI cents
during the week. the Atlantic exports in four
weeks having been 634041 bushels, against
| 7Oi3.J77 last year and the Western receipts
only 621SOS9. against 10.690. IA last year. The
exports OF corn have been $4,000 bushels
from only four Atlantic ports, against o,l3o.2S2
last year. There is the usual deluge Of specu-
| lative estimates about the quantity Of wheat
| remaining, which well under stood to be
| based upon mere guesses about last years yield
| that they command no more confidence than
| an official report. which is saying much. The
] cotton market has advanced five-sixteenths not
withstanding decreased consumption by mills.
| Already 1924 734 bales have come into sight.
and the rate Of decrease in February, if con-
tinued, would make the years commercial crop
S442 636 bales but, with AS 900 bales less taken
| thus far by Northern spinners than in lS94-9o
| to date, past estimates Of quantity required
| for the year need revision. Stocks Of
American In sight here and abroad now
| 100000 bales less than in 1893, after the
| largest yield ever known. but that year the
| stock carried over September l was over
| 100000 bales American. Exports in February
| have been about 100000 bales less than last
| year.
| The stock market does not count. Sales for
| the week were about equal to good days
| transactions 2lJ,0OO of four trust stocks, which
| all advanced-Sugar and Tobacco over three
| points, as il in answer to Investigations, eight
railroad stocks, $4,000, and all the rest about
| $4,000 shares The average for sixty railway
stocks Is two cents on 500 shares lower than II
was a month ago. and Of trusts GO cents per
| 500 higher both having gained fraction last
week.