New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-06-07

in 1891. and had been Increasing every year %
that earnings were nearly SG,Vw.VJo iarser
for the month than In 1SS9. the fneahii's u vs."
comparison may be appreciated
In banking circles the most Significant chanse
was the decided expansion In demand ioi 'o"'
r,orc,o, loans which was most gladly welcomed
ond mot n IL stated that over 90 per cent Oh
tho pew loans last week was Of commercial char-
acter one bank alone having put OUT H"'''"'o VA
nrirne business paper exclusive Of renewals Inc
demands were not confined to one OF WV
branches OF business. but were quite generaiy
distributed and in addition there was much dole
in rediscounts, especially for the South AZ ."'
same time the receipts Of currency from the III
terror exceeded shipments by about S@'""'''o''
and although 81 $50 600 gold went to EUROPE ''e
market was in no way disturbed. Merchaiui'e
imports were about 81. 100000 smaller than for
the previous week, although still exceeding pS
about as much those Of the same week 'a''
year.
1t Is to many astonishing and incomprehehsio'e
that wheat receipts at Western cities continue W
exceed last wears. Stories Of entire exhaustion
Of supply. stoppage Of mills by lack OF gram a"u
impending famine in farming regions have been
so deliberately told and retod during the last
year that the people who have given them any
the first week of June 2OJS,7 9j bushels, against
2OO641J in the same week last year. A'iai'c
exports fell behind last years slightly for the
week, flour included. amounting to only 2,l6o,iS'
bushels. against 1888, $50 last year Wheat de-
clined "A cents for the week. in spite Of many ru-
mors calculated to give it strength, while corn
closed only an eighth lower Cotton rose an
eighth a week ago, but lost sixteenth on Sat
urday, and up to that day S232025 bales had
come into sight from the crop of last year, while
the current reports as to the growing crop are on
the whole somewhat encouraging.
1t Is the season at which the iron industry
Is apt to be most Interrupted by labor con-
trovers!es, and a strike in one Of the largest
establishments at Pttsburg stopped work for
over four thousand men last week, while the
dispute about the wage scale for the coming
year threatens to affect much larger NUMBER
But in two concerns OF moderate size wages
have been reduced 10 per cent in the last week.
in order to execute contracts taken at exceed
ingly low prices. The fact is that the works
have been bidding against each other without
apparent for profits in their effort to get
their share Of a business. which, though gradu-
ally increasing is not yet large enough TO Keep
all fully employed, and the summer vacation. II
prolonged by the dispute about wages, might
he or no real DISADVANTAGE 10 lHt lhuuotiy' II
is noticed that the Illinois Steel Company has
taken orders for a railway and its bridges In
Corea, and that its shipments of ore from the
Mesaba region, we'll as those Of the Carnegie
company, each exceed hundred thousand
tons weekly. No important change in prices Of
iron products has occurred in the last week, ex-
cepting that the expectation of a reorganized
rod pool has for the time advanced nails about
five cents per key.
The demand for cotton goods is unusually
dull. and some qualities shade lower
while woollen goods said to be in rather
better demand, but without any Improvement
in prices. Wool is much less active than
month ago. and prices are yielding. the average
OF quotations by Coates Brothers being an
eighth OF a cent lower than two weeks ago; but
any quotations are really nominal, since lower
prices are somewhat generally paid when trans
actions Of any Importance effected. The
market begins to realize that the heavy i'm
portations and the years supply of domestic
wool unsold have altogether overloaded IT, 50
that it is by means clear that advance
in prices would speedily follow the enactment of
tariff.