New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-02-22

Bessemer pig more than 81 lower at
Pittsburg than in English markets. and steel
rails at ST. 30 were about 81 lower, the differ
ence between pig and rails in England being. at
these quotations, 50 Sc to SO 30. whereas at
Pittsburg it has been in some recent transac-
tons only about 81 per ton. But ii Is not to be
assumed that such sales at profit, or re-
turn even the bare cost of rail-making to the
works. and 1t is to he noticed unfavorable
symptom that practically all the rai-making
concerns have reduced wages. following the
larger companies at once. with the statement
that reduction is necessary to meet the market
for rails
There is also some gin reported in the boot
and shoe manufacture and orders received have
perceptibly increased. so that some works which
recently stopped have resumed again. The
actual shipments from Boston were slightly
larger than in any previous year for three weeks
past and while this gives no definite idea Of
the value of goods shipped. because the lower
and cheaper grades may vet constitute. as they
have in recent years. large proportion of
the output it is still gratifying to see some evil
dence Of Improvement. The woollen manufact-
ure has also started few more works although
there is yet satisfactory increase in
orders for goods, but the gain observed is
The heavy buying of wool has mostly ceased
with some advance in current prices and it is
reported that nearly all the important mills
have supplied themselves fully with materials
FOR good while TO come But there is possibili-
ty Of much disappointment in that business if
Congress leaves the door open for unlimited
importation of goods while It is debating about
an advance in duties. The sales of wool during
three weeks of February have been 3O13O9OO
pounds against 16996,2 200 in the weeks of
1892; in the month of January the sales were
31.541, 800 pounds. against 2O,II2,OOO in 1882.
and in the months of November and December
sales were Is 10000 pounds making about $780,
100000 pounds sold in less than four months.
which is far beyond the actual consumption of
the mills supplied by the three Eastern markets.
The advance Of an eighth in the price Of cot
ton occurred in spite of continued reduction in
the manufacture, some additional mills having
joined in the curtailment during the last week.
But there has been a rather better demand for
goods, and much more is expected when the large
accumulated stocks have been somewhat re-
duced The quantity which has come into sight
since February l is 81 $40 bales. against 420,-
O5S in the same weeks of 1896 after the largest
crop ever grown and again it is made apparent
that the rate of decrease in February does not
foreshadow crop short many have
pected. But prices are low that the specu-
lative markets are easily made nervous. Wheat
enjoyed quite rise last week. about 2ss cents
although the Western receipts were relatively
a little larger than OF late; but for three weeks
they have been only 1863 2lO bushels against
S.239.I1 for the same weeks last year. and the
Atlantic exports flour included. are much more
nearly maintained. having been for the
weeks 5.O9O,9Il bushels against J.i4S, 400 last
year. The feature which most operators in
wheat are apparently overlooking is the unusual
outGo OF flour, which has amounted for three
weeks from only four Atlantic ports to 6.31I,-
314 bushels. against :, 1894 500 last year 1t need
not be added that much of the -four sent abroad
cuts off the demand for American wheat to some
extent.
The money market has not been really af-
fected by warlike foreign rumors. and there is
a growing belief that the powerful expression
of public opinion in Christian countries will go
far to make ii impossible for any of the Powers
to give Turkey encouragement. But the question
remains in case Of any in Europe. whether
the tendency Of foreign capital. 10 seek a safe
resting place here, and the increase in the de-
mand for American products would not operate
favorably upon American money and security
markets almost from the outset