New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-05-24
MONEY AND BUSINESS.

The outgo Of 81, 100000 gold last week did not
disturb the Of relief which followed the
cessation Of heavy shipments in previous weeks.
1t Is realized that Russian needs and not Ameri-
can exchanges determined the movement, and
that the time Is when gold must begin
coming this way to pay for crops that bills
against the future movement Of products
likely to prevent shipments OF the precious met
ais over and back again within sixty days. The
point is also Of great future Importance that
heavy imports OF merchandise. over S1OO.O00.000
in April, and SAL Ali. 121 at New-York alone in
three weeks of May. against S26 100 002 last year.
are only placing here goods intended to be mar
keted in July and later. after new duties have
gone into effect. Consequently imports Will then
be correspondingly cut down. The home market
may and must be embarrassed for time by this
overhangng load but the balance between this
and other countries must turn the more decided
~ In favor Of this country. because the foreign
goods wanted in future, Of some kinds for many
months have already been imported. The for
eigners cannot up the American market now
and have It left for their benefit when they want
II some months hence Meanwhile. the decrease
in imports here from $4,000 900 in the first week
of May, to S12,000,000 in the second. and less
than 81 ! 100000 in the third suggests that vent
ures of foreigners against the future may have
become about as large as they care 10 make.
Evidently there is likely to be a great deal Of
disappointment for somebody. With American
manufacturers loaded up for years run with
free wool the prices Of goods would not need to
be increased for some time enough to AFFORD large
profits on impOrtations, and, in fact, cannot be
with those importations carried at considerable
cost and pressed for sale. Neither the importers
nor the manufacturers can expect as speedy
change as many importing houses have appar-
entity reckoned upon. nor can the WOOL market De
expected TO rise suddenly with enormous stocks
of old domestic and larger of Foreign wool
pressed for SALE new domestic crop unsoid and
manufacturers largely supplied, so that THIS
country is likely to have fairly cheap material
for some time. Also the manufacturers will
have plenty of time 10 ascertain what imported
goods have found favor and what have not. and
to regulate their own work accordingly. The
demand for goods shows no increase, but con-
tinues at a fair rate without any change In quo
tations Cotton goods distinctly dull and
nrirt cloths still at the bottom and the Southern
concerns which complain that Northern markets
| do not treat their products fairly are probably
not aware how large supplies Northern mills
! have on hand to sell.
The cotton year draws toward an end with
! clearly improved prospects as to growth, and
with numerous indications that the acreage has
been commonly underestimate as usual. While
| much damage done by the flood. there Is no
! indication that an entire State. or even county. Is
! IN be left without q growing field Of cotton In
! August as some have imagined. While :, lj1. I29
! bales have come into sight already, and about
as much In May as from the maximum crop in
! 1sg5 the course Of prices has shown only mod
/ crate degree of confidence. The only change last
week was a decline OF eighth Monday.
| though the average for the month has been more
! than a quarter higher than In April. The cur
rent reports about other crops are on the whole
more promising The more trustworthy OF them
admit that there has been extensive sowing OF
spring wheat to take the place OF winter wheat
killed and the private returns 10 officials OF the
great railroad systems give promise or remark
, ably large spring wheat yield:
II is worthy OF especial notice again that the
receipts from farms continue large. In three
weeks OF May lO23612 bushels. or liz per cent
larger than last year Strange to say the mills
have not all stopped yet, either. as current re-
norts demonstrated they must months ago. for
want of any wheat 10 grind. The Atlantic ex-
norts. -four included. have also been l.4OO.OOO
| bushels larger in May thus far than last year.
J and the symptoms Of famine seem really harder