New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-11-22

bales against 1644 $50 In four more days OF 1904
| from the maximum crop. while the taKlngs y,
| Northern spinners have been only Zo3'iVV
| against 370O31 bales. and Southern consumP-
ton also 81 900 bales less than in 1894, 80 that
| the fall in price to ISL cents has some excuse.
These remarkably heavy movements promise
| to bring up the monthly exports nearly thoush
| not quite to the almost unprecedented $lVV'"'o'-
| 600 of last year. while imports at New-fork III
| three weeks have been S23 231 100 against $Zo'-
414S9I last year. and amounted at all ports last
year to only S50,OOOOO0. Another excess of mer-
chandise exports considerably exceeding Sou'VV-
600 is foreshadowed for this month following
the excess of 1854 933 442 In the three previous
months. That this has much to do with future
movements Of gold Is the more readily under-
stood when Ii Is remembered that the present
tariff will continue to interpose obstacles 10 the
great expansion of imports which has occurred
In three previous years during the months
January April inclusive. Neither last spring
and summer nor in 1896 did exports drop as low
as $66.000.000 in any month, and during the
coming year 1t would be in the least sur
prsing IL there should be no month with imports
amounting to 500 OOOOOO But II no month cam
cells any part Of the accumulated merchandise
Indebtedness, how is II to be met?
tries is mainly comparative, though the SUBJ
ject Of some remark. In the nature OF things
less should he expected than when the rush TO
replenish stocks began. and new orders for
woollens much delayed by open and mild
weather which has prevented distribution OF
winter stocks. and also by uncertainty whether
the price Of wool will hold. In cotton goods
an opposite form Of embarrassment appears be-
cause the material is so low. while heavy stocks
OF goods made from high priced cotton remain
In the hands OF mills and agents and Of dealers.
Many reductions in prices have not yet brought
relief and print cloths and some staple goods
are at the lowest quotations ever known. but
conferences about reducing output do not bear
fruit as yet The woollen mills have not yet
finished orders taken some time ago. many
OF them having commitments ahead as far as
they care to 20. but In other branches many
looms have been stopped orders were filled.
because the raw wool hand could be sold
ut larger profits than could be realized by its
manufacture All the wool markets are ex-
tremely dull. with occasional sales Of large
lots at prices not definitely named which looks
like unloading. The published quotations are
not reduced and holders express the utmost con-
hdcncc in still higher prices In spite OF the large
stocks in the country.
astonishing work kilograms from Western
points show that the factories fully en-
ployed and the shipments from Boston In No
vember thus far have been - per cent larger
than last year and % per cent larger than in
1892. Whereas tho total shipments this year to
the end or July had been 2l1 900 cases less than
In 1895 and hut little over those OF any other
year since 1891. they have been to date larger
IN nj
larger than I'm 1902 II is most significant that
this work has been almost exclusively To supple
ment stocks reduced by larger sales ther were
expected and In answer 10 urgent calls for
speed But orders for next season are scanty.
buyers declining IN pay higher prices until they
are compelled. Finally the iron manufacture
Is now consuming more pig than ever before.
and yet in plates and some other lines orders for
large quantities have been refused and several
additional works have Just started In other
lines new business only about equals the output
while n good many concerns are approaching
the end ~ orders received. and tho search for
business causes slightly lower prices for nails
Grey Forge is n shade lower and other pig un-
changed hut heavy business is expected after |
the holidays
Tho so-cancd stock market consisted Of sales
~ 255 400 shares ~ Sugar. 1850 ~ three gas |
stocks 3p.NS Of the nine most active railroad |
stocks and about 10000 ~ all other stocks |
with an average decline Of p cents per 500 In |
railroads and an advance OF ten cents per share
IN trust stocks Money comes In plentifuly, as
collections are surprisingly we'll met throughout
the country except In parts ~ the South. ana |
offerings Of commercial paper unusually |
low The Union Pacific settlement and the dis |
trlbution OF large sums by corporations on |
January I may make important changes in the |
money market. and the investment OF interest |
and dividends will probably take many securities |
from the Street. but NJ present the thoughts or |
traders appear to be absorbed by Sugar and Gas. |
and Indifferent To the large and steadily ncreas-
Ing earnings OF railways