New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-08-15
VONEY AND ri SINENN.

Peace Will be tried next. and VIII bring with
II greater Improvement In business. - H. prob
able than the markets have anticipated span
sh shuffing and incapacity have left the I'm
preston that the DOns would not be hhi" 10
grasp promptly even necessary ana self-saN-
ing peace with II therefore comes tuinbllns
over each other - shorts. including "a" saga
cious London spectators who sold Ihria'lN
tov dovs ago. The record Of stocks FOR many
wears past was given on Thursday but slgh'
~ higher price was reached on the lith. aver
aging SCI - for railways. against the lowest
for the week at SEQ - AZ the opening. while
Saturdays closing showed hut little change
at SCI 10 Trust stocks averaged S"S ~ at the
openlng 500 - at the highe't on The I'm. ana
SEQ ~ at the close.
There is much matter printed Just no" about
railway earnings and rate-cutting when u "A
long way from sensible. There Is rather less
s,lliness to the square inch among practical
railroad managers than among the newspaper
writer's who criticse them. cutting ~ rates
might indeed be absurdly foolish, az some say.
u part Of the railroads were willing 10 lie
down and die As they are not. and they night
desperately by cutting rates for traffic enough
to keep them alive. The other railroads ar"
compelled to defend themselves. All the laws
roads from trying to live. nor the other roads
from irving to save as much OF their traffic As
they can IL is a pity that THE Financial
Chronicles" monthly statement Of earnings
docs not separate the Canadian Pacific and five
Mexican roads with 10 So miles operated and
81 01G gJ3 earnings in July. from the American
roads which according to its report. show"d
earnings OF 81, 49, IJ9 "Dun's Review com
pares earnings OF American roads amounting
to $50 1S3. 9JS in July with those 81 the same
roads in 1882 showing loss Of IA per cent.
and as usual, e-cuttlng is supposed to be the
cause Rut what would become OF the weaker
ro,ds ~ there were no raie-cutting nobody
takes the trouble to explain.
There Will be enough traffic before long, be
cause the crops are rapidly passing the dan
ger-point and breaking records 1t Is only two
weeks and four days 10 the end OF the cotton
wear and with part Of the crop already saved
there is every reason to count upon larger
WELD than that Of 1891. from which lO.T'o.WD
bales had come into sight on Saturday night.
Allowing for the various corrections at IN" close
OF the crop year. the yield OF 1891 may pre-
sumably exceed 1l1OOOOO bales, OF which FL
lison's August report showed that 4Voo"o pales
had gone into European mills, increasing thef
s,ocl nm TO August l. while 10000 bales had
bern added TO American anu loftiEh
ciaI stocks and the American mill stocks have
nrobahlv increased not far from 40O,WU bales.
/, q GOO 600 bales have been consumed by the
world during the year the question how 49,
uuo bales American and 1.O33OOO bales foreign
mill stocks and 100000 bales commercial
s,ocls Of American cotton can be disposed OF
In a wear. besides II 100000 bales OF new cot
ton becomes of some interest, and sufficiently
exnIains the slight decline to cents last week.
Wheat receipts are low. as the farmers seem
generally disposed to defer shipping and selling
until prices are higher. but the exports from
both coasts -four included. have been In two
weeks mast 5.945.311 bushels. against 6.ll+.o3l
last year. The so-caled cash price. which In
these DAYS means anything or nothing changes
hut little and the September option is about
TX cents lower for the week. Corn exports
have been for the last two weeks 4.i43.'O6
bushels. against 5.51O,135 bushels last year. and
the price has declined 3. Of a cent for the Sep
TENDER option The Government report. indi-
eating a yield OF nearly 2.000.OO0.OO0 bushels.
seems 10 command more confidence than any
wheat report OF Official origin has commanded
for years past.
The output OF pig-.ron. according 10 The
American Manufacturer" Of Pittsburs. had de-
siined on August l to 21026s tons weekly, Its
statement tos July having hssa 217Szo tons