New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-06-20
MONEY AND BU SINESS.

dull and purely professional market usually
declines while il waits 1t is two weeks to-day
though since the average Of railroad stocks rose
to SO - per share and it closed last Saturday
at SIS g. an insignificant change for so long
walt Nearly all are expecting satisfactory news
as soon as the troops land near Santiago or In
Manila Bay. and therefore do not Ike to be
caught short, and yet there Is always chance
that storm or accident or Acknowledgements in de-
barkation of n large body may cause some set
back so that the disposition to buy more IS
kept in check. II men paid much attention to
railway earnings just now they might lose some
OF their prudence. though the partial returns Tor
the earliest week OF June are considerably less
encouraging than tho full returns for each week
Of May But with the gain Of 20 per cent over
last year. and "a per cent over ls'2, on ROADS
likely to show least Improvement the outlook is
not gloomy.
Indeed. about the volume OF business one
hardly knows how to explain some assertions
for which hnanclers Of distinction are said to be
rcsponslble for instance that business is poor
and bad that many hundred thousand men arc
out OF work. and that large share OF the manu-
featuring establishments are closed. Nobody
can get such information by going around the
country with the eyes that nature gives him.
Payments through clearing houses have been
running steadily above 81 80 100000 per week In
June month in which they were never SO
large. not even IT, 1880 or 1892. and SO far the
excess over 1899 is l3.7 per cent for the month.
Activity in speculation here might be supposed
10 accoun, FOR much OF the gain. but even with
out New-Y there has been "a gain over NV
or any other year In magnitude Of recorded
transactions. Railroad tonnage castbound from
Chicago Il not only larger than In June lS92.
but over 81 per cent larger. The actual output
Of iron furnaces and Of some other establish
menis has been somewhat reduced. IA II always
is when the first OF July draws near. this season
being in many lines the most convenient In the
year for repairs and little rest. but the trade
Journals show that Instead OF greater reduction
OF work there appears 10 have been less than
usual because Of much pressure FOR speedy de-
liveres
The iron and steel Industry VAS consuming
on June !. Notwithstanding the stoppage OF
some concerns for repairs over 80. SO tons
weekly against 100 ljl In 1892. increase OF
50 per cent. and the accounts published do
not indicate any considerable decrease IN
June thus far. The consuming works in the
Plttsburg region and at the West are pushed TO
I'll orders covering weeks or months ahead. and
In that section new orders are exceptionally
| good FOR structural forms and for bars. which
have now advanced in price at Pittsburg a
| shade The demand for pipe f. better at the
| West and It is mentioned that the Illinois rail
| works have just taken one order for Calcutta.
| India and that shipments in May included
quantities sent to Sweden. Belgium South AZ
| RIGA Siberia and three other countries II has
| been said. also. that the boot and shoe industry
was losing ground. and yet during the last week
| there are reported actual sales at higher prices
FOR almost all representative qualities OF mems
| boots and shoes-prices which buyers have for
long time been refusing to pay. The ship
| ments are not large Of late as in prevl-
| Gus years. having been from January to date
| larger than In any other year, but In two weeks
OF June the decrease. compared with last year
was only 1000 cases. or Ia per cent. and com
pared with the same weeks OF 1899 only 5000
cases. or 3 per cent.
There IL less dehnlteness Of information about
the textile manufactures and at this between
seasons period. when repairs and stock-takIngs
and midsummer vacations many stop
pages while the mills are not ready TO make
| prices for the next season, some haltng
| and uncertainty are natural A good many
| mills are busy with Government orders, but It
was believed by many that the other demand for
| mems goods was increasing and that good
| season was at hand. until a reduction OF Clay
worsteds to 81 % caused some disappointment
| Perhaps 1t Will be all the better for the industry
n the event should delay little the disposition
| TO open the new season too soon In cotton
goods there Is reported a better tone. and some
what more active demand for staples.
The truth IL that gloomy stories about busi-
ness seem a little out OF place unless somehow
connected with the speculation in wheat. The
fall I'm price has continued, and instead of 81 II
two weeks ago and 81 OS one week ago, SO cents
| IL now quoted for No. . red In elevator. Yet the
| nr,ce Is even now higher than any one would
have imagined 1t could be after the middle Of
lime with 2lOO5S, 20S bushels exported In the
crop year up to Thursday night. and with pros
| pect of the greatest crop ever grown. II Is
rather surprising that. II the farmers have any
such doubts as various people are representing.
they should be sending forward old wheat still
AT the rate OF 1217475 bushels the last week.
with no less than 1870 242 bushels Of corn. The
Atlantic exports have exceeded l0.OOOOOO BUSH
| els in two weeks but in the two remaining
weeks OF the crop year at the same rate Will fall
short though only 100000 bushels. OF the
maximum realized In 1891 go which was 225.
665 $40 bushels In that year only 16.G02. 2S5
| bushels corn went abroad while this year 2O4
| 142 1tjO bushels corn. with a little meal in
cluded had been exported up 10 Thursday night.
The state OF foreign trade continues about az
| favorable II could be In the last two weeks
merchandise imports at New-York have been
33.9 per cent smaller than last year. and In the
last three weeks 1874 per cent smaller. while
the exports in the two full weeks OF June end
ing last Tuesday were 1871 per cent larger than
last rear. Were the same rates to prevail at Ill