New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-17
MONEY IND BTSINESS.

,bora ,ras wor hot veen the United states ana
c,o,n and also between sugar millonaires and
coffee n,IIIonaires 10 say nothing OF war between
Mr. C;ould and the Metropolitan Traction Com
nanv When the week was over 1t appeared
that the casualties In all these wars hau nee"
mainly confined TO n-margined ana pyra"lo-
ing snecuat tors Of whose accounts ohe ~
reported fifteen wiped out in ten n'i"u' '
Saturday The reaction that day is described
as terrible to the victims ana noVices III '''
Street and vet the week ended with the Sixty
most active railroad stocks averaging So' u PEI
share against S57 20 a week ago. and most OF
the stocks which have been conspicuous III the
trading were actually higher than at the close
on the Sth Sugar went down all the week anu
wound up with loss Of over seven points ana
the latest cut in roasted coffee, with the rePo''
that the Arbuckle Sugar Refining works were
ohort 70 hspjn operations afforded excuse FOR
somewhat more than usual acrobatcs. But New
York Central Lake Shore Michigan Central ana
Canadian Pacific closed higher than they ala
week earlier as did st. Paul preferred Mortimer"
Pacific preferred and oregon Navigation anu
likewise Manhattan, Metropolitan and Brooklyn
RAND Transit The slaughter of nnocents IN
CITY railroad stocks seems to have arisen iroi"
the propensity of the political specuia'oiS -
double up their paper prohts.
The week. it will be seen, did not furnish
choice variety of reaction. unless IN tHe III
dustral stocks. which were largely influenced
by Sugar. Out OF the 2,3400Oo shares s"'u
during the week about half. or l'-oO'ooo' were "a
eleven railway companies. including two street
RAILWAYS. and an unusually large remainder
o34 600 shares was distributed In small lots
among more than $50 issues. Such character
istics usually mark a weeks transactions as III
Il o1.C,r N
the best sense strong. with unusual apso'p''o" "a
stocks by investors. The continued ana heaNy
purchases Of good bonds throughout the week
gave similar indications. Stunning headHhes'
ION the Brink Of War" possibly sold Re" pa
pers but not much else, FOR rlotlhS asa'na' III"
Spanish Government and It's poncy uoes H''
yisibly increase the prospects or trouple pe'"ee"
the Spanish Government ana the Ohi'eu "'"''''
The early and vaueless Information secie"S
obtained for the fftieth time regarding '"e "u
nromo Court decision to he rendered on Monday
would have served speculative purposes so''S-
what better If by this time the story had not
been worn threadbare
There was more real reason for disappoint-
ment in the decrease Of merchandise exports
from New-York, which for the second week OF
January fell behind last years. But IT is I'M
portant to remember that at this season large
further south and from the Pacific Coast
Though New-York exports Of wheat were not
surprising the Atlantic exports amounted to
3o1647O bushels -four included, against
SD 4OS last year. and the shipments from the
Pacific Coast were $4,000 bushels, -four in
Guided The outgo Of cotton is, as usual at this
season. mostly from other ports than New
York and while 437 90 bales in all have been
exnortod during the last two weeks. only 3i.OoO
bales have gone out through this port AS the
total exports have greatly exceeded those or
previous years. as Of wheat, 1t Is fair TO con-
clude that at present the general movement Is
not faithfully represented by the returns or
New-York alone The imports here have also
been falling short little but the customs re-
GENTS nevertheless continue encouraging.
In fourteen days Of January there were
6SS. s43 bales of cotton which came into sight
and this is not only an enormous quantity Tor
this time Of year. but is fully 33O0oo bales
more than came into sight during the same part
Of January 1895. from the heaviest crop ever
received Down to the night Of the 18th. in
that year only 7,436Sl2 bales had come into
sight. but this year 1911 619 bales had appeared
on Friday night. the 18th. 1t is not surprising
that the price weakened a trfe, closing at
5S7 cents With the uncertainty about strikes
and the continuance Of milling operations on full
time some encouragement easily follows such
phenomenal receipts. No Improvement is seen III
the market for cotton goods. and print cloths
continue dull at PIP cents for standard ots.
The market for wool was much less active
at Boston and Philadelphia. although more was
done at New-York. but at the three chief cities
the sales were about 40 per cent less than for
the previous week While most of the great
-ha.o r,,ttor Mt Y
Of material they desire for the present. there
appears so much better demand from the
smaller mills as to Indicate that they have gen
orally secured satisfactory orders for goods. So
far the sales OF heavyweight woolicns appear to
be making satisfactory progress.
The output Of iron furnaces in blast January
I was 2266,S tons weekly against 226.O2l tons
weekly December I. but. considering tn num-
her Of concerns which step for a short time for
repairs ard holidays at the end Of the year. the
r,port really indicates further increase. The
output in spite OF the temporary decrease was
about 30 per cent greater than year ago ana
the Increase Of uns0ld stocks on hand Is
small THE American Manufacturer, OF PITTS
burg. reckons the total production for the year
at $50 So, tons, which - not only the greatest
production vet realized in any year exceeding
| that Of 1898 by per cent but is Is per cent
greater than the production Of last year. The
, railroads are also placing orders largely. the
Pennsylvania having contract for l0oW"
| tons steel rails and a new railroad in Maine
| for II 900 tons. and there are reported some
| large sales of Bessemcr pig and billets In the
central region. though both Bessomer and Grey
| Forge are a shade lower. The volume OF busi-
| ness represented by payments through banks
this year is 121a per cent larger than in 1872.
| the daily payments through fourteen cities. in
| cluding New-York. reaching the altogether I'M
| nrccedented average Of S2i1,2SS,0OO daily for
| the month thus far, 3j.6 per cent greater than
! last wear to date Nor is it an Indifferent midi
| cation that failures in the first week of Janu-
arr, were for only 81 90 S27 against SAIL. 13l
| for the corresponding week last year.