New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-05

For months every clearing house return has
been proof that the volume Of business has peeh
greater the time Of year considered IMAM
in any previous year. and for more than TWO
months payments outside New-Yo!K nave ex-
cceded those Of corresponding weeks IN 1917
Yet the November returns attract great a''en-
ton because they not only surpass those Ok
the corresponding month, but OF any month III
any past gear. To some minds that is the ONLY
proof that counts. The payments through all
clearing houses in November were Sd+'"'jf-
300: the largest preceding record was IN Decem-
Der 1892 S6O}4 100000. and the next was IN
January. 1895. SG012 100000. Payments at all
the clearing houses outside New-Nork IN NO.
vember were 81 sol 1o1 9t;3; in December lS'2,
they were 50 432 100000: in October this year
thev were 81 800 900 .OoO and in January, 1S93,
50 394. 100000
Considering that November had only twenty
four working days, against twenty live or
twentv-six in January or December the compar-
son Of daily average payments and at an I'M
changed list Of cities affords the better test,
showing a gain of 1872 per cent over November.
1892 and IL per cent over December. ls"Z
With more than SIKH greater business IMAM
was ever done before in any month, 1t can no
longer be said that the increase does not eX-
coed the gain in population. When 1t is also
higher in 1892 than they now. the expan-
sion in the volume Of business transacted APP
pears still more remarkable.
All the conservative folks have been listening
for reaction. and some have been selling large
blocks Of stocks with the idea that turn
could not be far away. Still the average Of
railway stocks closed 10 cents per share higher
last week. and the avetge Of trusts 81 - per
shf re higher Omitting from view entirely the in
dustra lot as their movement cannot be ac-
counted indicative Of anything. II may be said
that the halt in railway stocks. which averaged
% cents higher Thursday than at the close
on Saturday gave some color Of support
to the reac;ionists. and yet the yielding
caused by their heavy sales was 30 slight that
II seems to many good guarantee that no de-
cline IS 70 he expected at present. The earnings
Of railroads are surprising expectations still.
full reports for October exceeding those Of 1N32
10y 81 per cent. and partial returns for Novem-
Der show gains Of 1 per cent over last year
and % per cent over 1892.
The fact is that the state OF business in
nearly every important branch justhes high
hopes If the statement made in some Chi
cago dispatches is true. that the Illinois Steel
Company took rail contracts in one week cover
ing every much the greater part Of next years
taken by the Carnegie and some other works. II
time Of extraordinary activity Is assured for
the iron and steel industry as a whole because
the rail demand IS that which IS liable to huct-
uate most widely The car famine throughout
the West has already caused extraordinary
orders for rolling stock. and the orders for
sells on the Lakes as at the Atlantic shpyards.
are remarkably heavy while in bars. sheets
and plates increase Of demand appears.
Bcssemer pig has been strengthened at Fits
burg by purchases OF 80 COO tons or more. The
boot and shoe business has been much stimu-
lated by wintry weather. and though the policy
Of sending numerous orders only little ahead OF
dealers necessities seems TO grow in favor the
reports indicate that the capacity OF works is
engaged further ahead than 1t has been for
some time Actual shipments reported by The
shoe and Leather Reporter are for November
considerably less than last year but greater
than in other years, both for the month and for
eleven months
The textile industries Enthusiastically get
ting better orders for goods and sales OF wool
~ five weeks have been 30 SO 500 pounds.
against 81, 100 400 last year and 2G.S31 600 In
1892. The concessions in prices have extended
to most grades, bit not to all that one hun
dred quotltions by Coates Brothers. Of Phla-
vember and 20S3 February I. the highest
point since 1893. Will orders for goods do not
yet to start all tho machinery at work
they have given ample reason to look for n
larger business through the winter than was
recently expected. The Eastern cotton mills are
not only getting more business but enough
more - lift prices Of some grades Of goods a
little especially Of bleachod goods and Of print
cloths, which have risen to 2K cents. The
quantity OF cotton which came into sight in
November greater than year ago. or in
any other month. Notwithstanding the tagging
movement during part Of the month. To Fri
day night THE Financial Chronicle shows
5.1TS.SOl bales in sight, against J,4i1.61 last
year. The takings Of Northern spinners have
fallen Off reaching only 1880 bales. against
907 CPS to date last year ard Southern takings
Increase only slightly But the exports In No
vember were 14919s7 bales. against 13SO6 35
last year indicating that operators abroad IN
Gulge little expectation OF seeing a much lower
range Of prices. The possibility that Southern
consumption may be somewhat Interrupted by
strikes is more than balanced by the certain
increase which would thon result for Northern
mills
In the last five weeks wheat exports from all
points have been 2343G. 1862 bushels -four In
cluded, against 2o.G5i945 in the same weeks
las, year. j Is curious how closely this years
movement keeps step with last years the total
exports TO date as well q they be calcu-