New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-18
strict observance Of all proper regulations OF
tho public practice.
MONEY AND BUSINESS.


ber without other increase than then appea'e"'
would exceed imports by so Wu.VD. The COM
petc returns show further increase, making
exports $iOi 69i 2O5. and imports We're only
SCHOOLS so that the excess Of exports was
So PSI 49, To meet this enormous Indebted
ness there were net exports Of gold ana gou
ore Of only 81 .G23.314. from which net eXpor,so Oh
silver and ore ST IOO3j6 must be deducted so
that there remained unsettled on September
merchandise and specie account balance OF
so 3jS ,29 which means years wages f"r
more than one hundred thousand Americans
In October compar,sons are with month last
year. in which merchandise exports exceeded
imports b. s63.0i9261. and in half the month
imports a. New-York have been smaller thah
last year by S1SS.JJ6 while merchandise exports
for the two weeks have been S6ll .lSJ smaleI
Than last year So far the balance has been
shade larger than year ago. when S2sN"'D
Of gold came this way in partial settlement
leaving heavy balances TO he liquidated AFTER
ward
The importance OF this state OF foreign trade.
as the solid backlog OF Improvement, can
hardly be overestimated Yet nothing In for
eign relations would count for much II there
were not general and large expansion of homo
Industries. The gain OF 40 per cent since June
in consumption OF iron In manufacture, or
which details were given Saturday. Is one or
the changes which mark a new era In ma
lions history. IL the result Of q substantial In.
crease I'm demand. This year there has been no
Wild advance in prices to stimulate temporary
and artificial buying. for from Juno 30 the
average OF iron and steel prices has only ad-
vanced SIS per cent but In the false start OF
1895 the average rose 53 per cent from May l
TO september II. This year prices have only
20
OF tho consuming demand. Nor is this the only
industry showing such gains though 1t is tho
one in which progress from month to month
can be most accurately determined. The in
crease in woollen manufacture cannot be so
measured, and yet has undoubtedly been fully
80 per cent since June The cotton manufacture
was not long ago extensively curtailng pro-
duction BY agreement in order to relieve the
market The boot and shoe industry shipped
from the East in June less than In any previous
year since 1901 and Is per cent less than in
1895. while in September its shipments were the
largest ever known in that month. and y per
cent larger than In 1893
This Industrial expansion continues in Octo-
Der thus far without check More iron works
have started and prices were again slightly ad
vancod last week by efforts TO get products
hch. in nearly all lines. mills unable to
furnish "a last as tney are wanted. Inc andl-
ton To the number Of textile mills in operation
has been important this month, and while
prices 81 woolcn goods have advanced little
more the rise is not yet hall OF the advance in
the cost OF material while print cloths and
some other Gotten goods have been reduced on
account Of the doclin" in raw cotton. The per-
sstcn: delav OF jobhcrs to give orders for spring
boots and shoes al prices now asked does not
cheek production because the distribution 10
consumes has been 60 large that additional
orders for winter have suflloed 70 keep the shops
AT work. and The shipments In two weeks 81
October were again the largest on record for
corresponding weeks. over 80 yer cent larger
than in 1895. and over per cent larger than
In 1892
SO long this Industrial progress continues
the vagarics Of speculative markets have little
Importance. except as they affect international
dealings. But last week wheat was at first de-
pressed by rains. giving promise OF better re-
suits in winter wheat States next year. and then
advanced 10y heavy buying FOR export. The
ported shipments from all ports were oiGsvc
bushels or - per cent more than las, year FOR
the frat half ~ october. and Atlantic exports
were G46r.iol bushels. four included. against
4147 So last year. showing a gain which Is the
more interesting because corn exports were
about UP to last years. September exports OF
whea' and -four. - SIS So bushels. agans.
11GiGslJ last year. were the heaviest ever
known though but slightly exceeding th" rec
ord made I'm September. 1891. when the years
ou,go exceeded 49, 900 600 bushels. Cotton has
been weak with further decline to G3l cents.
but there IS lot ~ laundering IN statements
that Thu f. tho low 'st price ever known except
In one year or another. Tor the price was as low
or lower during the whole ~ the last three
,f..
first three 81 1895. except the last day OF
March and dropped 10 80 cents In November.
1885, and again for several days In February
and March following Prior to that G-cent
cotton was known In 1919 5-cent cotton in
1SiS 1914 and IsI3 and 4-cent cotton in 1Si5.
The receipts far keep we'll ahead Of 1881,
with It's maximum crop and exports and TAX
ings ~ slinners are also larger
on 10000 miles OF railways the gain In Sep
TENDER earnings over last year was SG'SJS23
or III per cent. in spite of some decrease owing
to fever NJ the South This statement includes
Canadian and Mexican roads. however. but IN
the United States alone the gain was 14S per
cent and. compared with 1897. 1t was = per
cent 1t Is worth remembering that there Is
considerable cutting Of rates this year But no
proof Of substantial Improvement can be eA-
pected TO have much effect in a stock market
In which about sixth OF all the sales FOR the
week was OF Chicago Gas and 30 per cent OF
that stock Sugar and Tobacco. or ~, 'O3 shares
against 921 So for the nine largest railways
and 1S1 99i for all other stocks In such
market it is a dreadful disadvantage 10 know
anything about property. The bankers here
have had their supply Of commercial loans cur
tailed curously ana to extent. perhaps. be-
yond precedent. by the bidding Of interior banks
from nearly all the Northern cities east OF the
Dakotas. which have taken up so much good
paper that the proportion OF such loans made
by prominent city banks was diminished about a
Attn last week With the arrival OF gold from
E.,,roDe the prospect OF monetary stringency APP