New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-05-23
MONEY AND BUSINESS.

foreign demand for breadstufs passes all prece-
dent, and so does the excess of exports over i'm
ports Of merchandise. and the net imports OF
gold have never been in any entire fiscal year
az large as they have been in less than ten
months since last July. The volume OF business
recorded through banking settlements has never
been as large for the II is now, and
the greatest cotton crop ever grown has scarcely
been marketed when there comes promise OF the
greatest wheat crop ever grown. one authority
estimating that it may be 1OO,O00.00O bushels.
while the recorded production In several OF the
chief branches Of manufacture runs beyond all
precedent. It is not In the least unreasonable
that such conditions render many comparatively
Indifferent 10 the waste and loss Of war. and
even TO the delay OF Senator's II is generally
assumed that In spite Of all nonsense the re-
cuircd provision for the needs Of the Govern
ment will be made. and some leading bankers
are said to have positive information regarding
the future action OF the majority of Senators.
Perhaps the most that could be expected In
view OF foreign selling is that securities remain
curously impregnab BILE It is a mere coincidence.
and yet the first time In many years. that the
average price OF the sixty most active stocks
two consecutive weeks. Sj1 II this week and
last. S57 "a May I. and SJi 0j April 80 The
large earnings on some OF the principal lines go
far to strengthen confidence and also the re-
markable returns Of eastbound tonnage from
Chicago. 1859 tons in two weeks OF May
against 1020s6 last year. and 10G5s7 in the
same weeks Of 1892 Payments through all the
principal clearing houses In May have averaged
daily S205 291 900. against S193 go 900 in 1892
an increase OF 80 per cent, and at all the prin-
cipal clearing houses outside NewYork the ag
gregate In three weeks has been 81 DOG 9Sj. 245.
against 81 300 $40 Jl6 in 1892 again 50 per cent
Increase. II has been said for more than three
months that such returns could only reflect
past business. and that new business must have
been greatly diminished by war possibilities ever
since the destruction OF the Maine. but the
PLANTATION In getting too aged for effective
vice.
Wheat receipts al the West do not fall of in
three weeks amounting TO 1851 .002 bushels.
against 1859 coz FOR the same weeks last year.
and the increase is even larger than the great
Increase In exports. which for the same three
weeks from both COASTS wore O.GGl 80 bushels
nour included. agains; GC390J9 last year In
Guiding the final official report for nine months.
and the preliminary report for April. with these
current returns for three weeks Of May. the ex-
ports for the crop year have been 1872 l6s.6l2
bushels wheat. -four included. against l35.553.-
3l3 las, year and Is. SgO357 bushels corn.
against lG6.331 100 last year. when the outgo Of
corn ran beyond all precedent Apparently the
wheat exports VIII fall little below the maxi
mum. but Of both grains taken together the
exports since July have already far exceeded
those of any previous full year In spite Of the
heavy receipts. wheat again advanced 21il cents
TO 81 G6la. after falling II cents the week before
and rising 4li2 cents the preceding week Corn
remains comparatively sober. and in price less
Eighty. but has advanced one cent.
The exact records which the Iron and Steel
Association wisely makes public show that con-
sumption Of iron In manufacture continues
larger than In AMI previous year, and with some
heavy sales OF pig at Pittsburg Bessemer has
advanced shade, though Grey Forge is a little
lower The Chicago and Eastern markets are
unchanged. and the demand for finished prod
ucts Is heavy in plates structural forms cot
ton ties and hoops and at the West In car
materials and bars. but comparatively dull In
bars the East In spite Of production
amounting TO %. 900 tons in April in the United
States and G,S24 tons abroad. copper continues
strong at - cents for Lake. and tin Is also sus-
tanned Mt 14.5 cents by heavy consumption. II
is fairly safe to say that at this time the manu-
facture OF boots and shoes is proceeding at
unprecedented magnitude though the shifting
Of work from one season TO another leaves ship
men,s for the last three weeks little smaller
than In 1896 or 1895. although for the year thus
far they exceed those OF any previous year by
about per cent Further orders continue to
come forward. and there is better demand for
Gather with hides advancing at Chicago.
Less definite information about textile indus
tries nevertheless suffices TO warrant encour-
agement. A few works OF some Importance
have suspended operations in woollens. while in
the making OF other kinds OF goods. especially
for the Government. the working force has in
creased. Sales OF wool small most manu-
facturers stll having supplies out the average
Of one hundred quotations by Coates Brothers
of Philadelphia. shows decrease OF only Is
cents per hundred pounds since May T. There
is n better demand for cotton goods and print
cloths improve little. The quantity Of cotton
which has come into sight since September IS
over n million bales moro than to date in 1895
from the biggest crop then ever known spin
ners' takings North and South having been
about $4,000 bales more and exports about
$4,000 more.
Imports of gold at New-York last week were
only S2.600.2l7. making $3.50 1873 in three weeks
Of May. and including all imports. less exports
for the months August to April inclusive. about
500 335 600. The merchandise imports at New
York in the last three weeks have been $25 13I-
$40. against Sal 411.127 last year, so that II no
change had occurred at other points the total
for the month would probably be reduced to
about S63 100000 while In exports from New
York the increase In three weeks has been 10
per cent indicating an aggregate for the month
exceeding SS40C00OO
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