New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-12-13
MONEY! AND BUSINESS


troubles is not impressive when every month
&C. nuirc IN debts OF other nations TO this Chat
for about war is absurd; what Power wants to
eqht q country which has n mortgage OF sixty
millions per month on the resources Of the
,rorIdo The main change. of course. Is in bread
sturfs though exports OF cotton also exceed by
/ about 81 100000 the remarkable amount last
year and there r. a steady excess over previous
wears in the exports OF minor products includ-
ing the manufactures for in october total ex-
norris were larger by $34.S10.000 than those OF
the principal products. and In September by
S34 10000 Recent heavy shipments OF ma
chinery iron and other products by no means
indicate a shrinkage in November, but II about
the same amount Is TO be added for such other
exports the aggregate for November will exceed
S115 600 COO and will run close TO the great
est amount ever sent from the United
States in any month. Sl19.93'.'~6 in De-
cember 1891. The record OF all past years.
fiscal or calendar. is likely 10 be broken when
this month ends since the weeks exports from
this city were 20 per cent larger than year
ago. and in the eleven months ending with NO
vember the aggregate OF exports has probably
exceeded 500. 100000. whereas the largest ag-
gregate Of exports ever known was SLooi-
900 600 in the last fiscal year.
There IS much in the figures beyond the mere
satisfaction OF the passion for bigness. Imports
| I'm November were in value about S'OOOOOoO
and for the last two weeks at N"w-fork have
been - per cent smaller than last year. An
excess of merchandise exports amounting 10
SOC 900 900 or more IN November is indicated
which would make S231 900 600 for four months
under the new tariff. while the movement IN
December thus far foreshadows another Soo'-
| 100000 excess. Payment Is not now coming IN
gold because money is so abundant here that
the banks would rather keep all they can abroad
| though foreign exchange has broken 80 Sharply
as TO show that n large movement would beglh
II there were any demand. In the four months
net imports OF gold have been only about
! S1Q000000 besides the amount last month MT
! San Francisco. while net exports or silver pai-
anced over 100000 Of this. In some shape
| there will be settlement, and those who fancy
that It is coming in great excess Of imports un-
der the new tariff are really expecting that
| measure TO yield more revenue than any or It's
! trainers anticipate.
The outgo OF wheat again exceeded 6.oOoUo
bushels last week. and exports from this crop
since July ] have been about 111.ooOOoo
| bushels -four included. In 1891 starting
with 100000 more in July than went
out this year exports by December were
! 100 0S6 026 bushels but were not as large In De-
cember by about 100000 bushels week
as they have averaged thus far this year. West
ern receipts II not large as they have been.
continue big enough TO indicate that the long
predicted exhaustion Of farmers supplies has
not quite come yet The December corner at
Chicago has left advance for the week OF
only IL cents here, and II likely 10 attract to
that point large receipts for some time. ana
meanwhile TO deter foreign buyers through the
hope OF lower prices. The demand for corn still
continues heavy, even last years unprecedented
movement having been surpassed since Septcm-
Der l. but the price rose only half a cent last
week.
| The publication Of higher estimates of the cot
! ton crop has not affected the price. but 5N'
cents is so low that there IL no great encourage
ment 10 seek profit by selling. and the abandon
ment OF the effort for lower wages In England
somewhat increases the probable consuriri"n
abroad while foreign mill stocks DeccmD"r
were A. 900 bales smaller than Il year ago. ON
the other hand. the Fall River mills have prob
ably taken the short road 20 a stoppage. which
may relieve an overloaded market. as their re-
| duction OF II per cent In wages seems likely "a
be resisted With print cloths AZ the lowest
| point ever known and the average for all cot
| ton goods also buying Is larger I'm some plain
goods and in special lines for spring but further
| reduction In bleached goods ~ awaited. Woollens
have been held without change IN price for some
time and Of late a rather better demand is seen.
| with some contracts made In heavy weights
! though the open season has still hndered busi
| ness Wool continues without change In open
| quotations. but considerable purchases abroad
and importations in progress. said 10 be 3oou
900 pounds for Boston alone. indicate that
the domestic market IL, on some grades at least
as high as It can be held and sales OF the three
chief markets have been only II 100000 pounds
for two weeks.
For some weeks the iron Industry has been q
little nervous at the sInallness OF new orders
though both manufacturers and buyers have
expected business enough after January ]. Blu
there Is market change In the outlook
MANY buyers appear to have concluded tina
they have waited for lower prices about Ions
enough and II they should walt much l'hHe'
might be caught behind the rush OF orders
which all expect Whatever the cause. more
new business comes forward. especially at th'
West, and at Chicago the demand Is reported
good. with dealers cheerful and prices strength
ening excellent structural business. large or
ders FOR rails carried over 10 the next year, con
tracts pending for about five thousand railway
| cars and an extraordinary demand for hafd
ware. Pittsburg structural! works are takinl
more contracts. but have others sti unfinished
plate mills fully employed, and bushes
. in bars Is fair Eastern works have takei
contracts for several buildings here. others 10
, more than 80. 900 tons being under consideration
/, and have secured contracts for bridges In JapaI
? and Holland. with several rail contracts FOR 10.
900 tons pending, 1900 for Mexico The EXPORT
Of manufactured iron Of nearly all kinds re
markedly large. The boot and shoe Industry. II
of IN A
yances asked. continues TO ship from the Eas
more cases OF goods than ever before-in tn
the last five weeks - per cent more than las
year and go per cent more than In 1S02-an,
! no change of consequence appears In leather
uItl LIdca a sludn ANeAker-