New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-02-21
MONEY AND BUSINESS.


sor,.,,,, com. share Of credit The President and
the Executive Departments gained appropa-
,,on throughout the world by dignhed ana NJ
ting conduct. even I'm Congress Mysteries were
confined 10 few individuals. and in Journalism
IN those which have no other faculty; the PROD
nee markets were almost wholly unanected' anu
the decline I'm stocks, averaging 30 cents per
share on Wednesday. was not unreasohdp'S
great in view Of the gravity OF inc c"oui"-
stances and was met by steady ana large III
vestment buying When Saturday brought 'he
alarm in England about affairs IN Africa anu
dealers forced TO realize on something cro"ueu
the unloading OF several thousand shaies a'
New-York into the two hours Of a ha!f-holuay'
with only one more business day to come pe-
fore Wednesday, 1t was not strange that ths
average declined 50 cents a share. making for
the week decline of 81 81 for railroads ana
81 So for Trusts. Sugar dropped lols ana Met
ropoitan If points. and some substantial prop
critics about which there Is no conceaimeht nor
lack OF information declined to points,
but until Saturdays emptying by London the
buying and the tone were remarkably good
considering the circumstances.
1t is evident that if there should be a foreign
war il would not diminish the demand Tor
American products, and would, indeed. increase
ment Of grain was not checked. It's advance
for the week was just cents, which is a re-
markable change for a single week after so
great a rise as occurred in previous months.
But the facts render advance easy, for the
continued foreign demand surpasses all past
experience, considering wheat and corn to-
gether and has only been matched as 10 wheat
In one year of past history. With Atlantic ex-
ports of S.41Gi95 bushels In three weeks. -four
Included. against 5.26l9I1 last year and Pa
rife exports Of 2.476.652 bushels against
L4741S2 last year. the known exports since
July ! already amount to l47,Gi5,s63 bushels,
against 112. 1J9,345 last year 10 date and in
no entire year. except five. was the quantity Of
wheat and -four exported large it will
be in the first eight months Of this crop year.
When corn exports added. already greater
in less than eight months than in any whole
year except the last namely IL. ~. i93 bush
els to date against 9s.9l5.120 last year the
outgO Of breadstuffs is far beyond precedent.
Cotton has not changed for spot, nor was
there much aggressive speculation. owing to
the continuing heavy receipts In eighteen days
of February COB $50 bales have come into sight,
but from the greatest previous crop only 42o,o5s
bales came into sight in twenty-five days of
February 1890. The quantity is now 9,11j,6S1
bales against $3.50, $50 in sight to February
%, 1895. an increase OF about so 900 bales. and
il certainly cannot be said that the course Of
prices tends to draw cotton into the markets
with unusual speed. on the contrary, excep-
tionally well-nformed men report that stocks
neld within their knowledge by planters and
dealers are remarkably large for the season,
and believe that. owing to the general conviction
that the acreage Will he materially reduced this
year the quantity held throughout the South is
larger than at the same date in almost any pre-
vious year. Takings by Northern sDinners in
February have been 1jl 0J6 bales. and exports
100. $50 whereas in twenty-five days of Feb
ruary 1895 takings Of spnners We're 126,9i5
and exports Az. s91 bales
In one industry. at least. possibilities Of
always have some stimulating influence and the
consumption of iron and steel in preparing for
possible emergencies is necessarily large. Yes
sells require great quantities.. and modern guns
and fertilization nor is II a small matter that
railway facilities would be taxed 10 the utmost
If any conflict should come The markets for
iron and steel products have grown meWhat
more active and stronger during the last week.
but owing to causes not connected with Tues
days disaster. Pig has been somewhat weak.
the final returns showing that unsold stocks in
creased in January 9016 cons weekly, while
some Southern concerns were pressing sales. but
a conference Of Southern producers has result
ed, according to reports. in some arrangement
not yet made public. while the agreement OF
mine-owners of the old Lake ranges raising the
price OF Bessemer ore IL cents above last years
will naturally tend TO support pig iron There is
good and increasing demand for rods wire and
wire nails. since the completion Of the yalua-
ton Of properties by accountants is supposed to
indicate the speedy completion Of the great COM
bination. and in plates for vessels and cars and
in sheets for timing the demand is heavy. but
not so active in bars or pipe. which have been
weaker. and tin plates have declined 10 So for
ful-weight Bessemer.
The cotton strike does not end broaden
as yet. and it is by many seriously doubted
whether the proposed general strike in the mills,
in assistance Of the New Bedford strikers. can
be brought about; The woollen manufacture is
confronted with unexpected cancellations in
lightweghts. which apparently indicate that
the consuming demand had been somewhat
more largely supplied than dealers supposed by
foreign goods imported before duties took
effect There is also evidence of hest
tation in paying the prices recently advanced
for some Of the better grades Of wocllens and
worsteds for mems wear 1t is still the fact in
this industry. as IN the boot and shoe manu-
facture. that the increase Of demand is mainly
in medium and cheap goods. Shipments Of
boots and shoes have been larger in February
than in the same month Of any previous year,
and many large contracts have been made
within the last two weeks at advances in prices
averaging about 2l2 cents pair
In general the volume of business continues
very large. so that payments through clearing
houses have in February been A. per cent
larger than last year. and 1919 per cent larger
than in 1892. For the last week the payments
were nearly large in five working days as
they were In six days In 1892 The course OF
foreign trade also deserves especial notice as
the imports last week were unusually small, and
for three weeks have been only S24 l3I .0S6