New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-25

| r,,,iions ,of busheIs with an urgent foreign DE-
| mand So Western receipts In the nrst "eeN
| this month were but 616. 400 bushels. ana IN INC
second week SJ3247 bushels and men had 'us'
| time to begin lamenting the great dec'ihe j"
| railroad earnings" when the wheat returns vi
the third week. ending July Fl. showed receipts
| OF 23O1, 800 bushels. The earnings thus iar are
for only two weeks OF the month. the nrst NOT
| per cent larger than last year and the seeo"o
| only As per cent larger over United states
roads, the half-month falling 81 per cent oehiho
1892. But the grain returns already promise
different story for the third and following weeks
and all know that the crop to be moved 10
heavy.
| Another melancholy person tells us that rates
are being slaughtered. and that Chicago tonnage
eastbound Is very small. The tonnage for TWO
weeks OF July was small, for reasons Already
made clear. The curious point Is that the de-
crease Of 20 per cent in Chicago eastbound Ton
mage does not prevent-a small Increase over last
year In railroad earnings for the two weeks,
which does not indicate that rates are being
cut more than a year ago. All know the ten
dency to scramble for business In midsummer
weeks when there is not enough for all. An
other trade journal seriously discusses whether
business will revive and become as satisfactory
|
the volume OF payments through clearinghouse
! has been larger than in any other July In his
tory and so far per cent larger than In july
| 1892 while the increase over 1892 was only Do
| per cent in March
! 1t Is curious that the closing OF some iron
works for the usual midsummer repairs Is just
now made a subject for lamentation when most
| of them are starting earlier than usual and with
more orders ahead. having cut down their period
Of stoppage and FASTENED repairs for that rea-
son. Indeed, fewer stopped at all this year than
usual. and there has rarely II ever been so large
a volume OF orders booked ahead before the end
Of July. The last week added half a dozen or
ders for 1880 tons. besides many smaller, but
more significant still is the heavy buying of bill
lets. 100000 tons by the wire combination. 20OOO
by different interests at Chicago and 10000 at
| Pittsburg In rails. structural forms and plates
the mills have all they can do for good while
to come: in bars the demand Is now better at
nearly all points. and car-building continues
heavy, including one order from the Union Pa
cfc for 1000 cars last week Low prices con-
tinue, though Grey Forge at Pittsburg rose 40
cents.
The published statement that the Fall River
mills had agreed TO stop about half their ma
chnery for a month does not appear to be con-
|
cotton mills to cooperate has caused abandon
ment Of the plan. When such operations only
serve to give competitors a chance to fill the
market they do not help Fall River, and IL the
management there Is such that the mills do
not dispose of their product, while other mills
do the remedy might prohtably be sought else
where than In costly stoppages. In plain truth
| the Northern mills unequally affected
| by increased competition at the South. and those
| which cannot meet 1t need to consider why
| The buying Of lightweight woollens Is still
! slow, which is not strange, In view OF the re-
cent high prices and stagnation Of wool. fol-
lowed within q week or two past by unusual
number of large sales. presumably at some con-
cessions. Even with these. the sales at the three
chief markets have been only II, S79,9OO pounds
| In three weeks against "a. 124. 700 last year and
%. 347 $50 in 1892.
Wheat has declined 81 cents for spot not
withstandng exports Of 1925 bushels. -four
included. In three weeks. against 6,003.526 last
year The tone Of foreign advices has clearly
improved. but for the present other countries
still need supplies from America. Corn Is "
| cents stronger. with some accounts Of less IA
vorable conditions but the exports in three
weeks have been S.065.G4S bushels. against
7.754.6O6 last year Cotton has fallen an
eighth with options a shade more for. with
| 10.907. 701 bales already in sight, 1905 have
| come forward this month, against Al. AS in
| 1895, from the largest preceding crop, though
| takings OF spinners and foreign exports both
little larger than In that year Improvement
| Is indicated by crop advices from most parts
| OF the South and exceptionally favorable condi-
| tons
Some large deposits Of gold in connection with
| the new loan have again raised in many minds
| the question whether the operation may not
| produce a little disturbance In the money mar
| ket But the transaction has really gone past
| ers reason and in any case the markets are
| all so abundantly supplied and the banks so
| strong that no fear is felt Foreign exchange
| already begins to show the weakness natural
| when the needs OF other countries largely ex-
| coed American imports. and for the three weeks
| 100000 or % per cent smaller than In the
| same weeks last year, while domestic exports
| In three weeks from New-York have been
| S5O3S614, or "a per cent larger than last
year There is as yet no requirement Of money
| for crop-moving. and the West Is so rich that
such demands may be smaller and longer de-
| ferred than usual. Nor is 1t time yet for the
| DEVELOPMENT of new manufacturing demand
| for money.
|
The Prince Of Wales is quoted In opposition
to the wretched custom Of cutting of horses