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

companies All these sums are seeking proh'-
able investment, and with them more money De
,opgirg abroad it is probable. than the dealers
=, .o,,s sunnoso Some cases have become
known OF foreign investments here through u"-
wonted and unsupported channels
Meanwhile wheat goes abroad freely, 616SDo2
husbels flour included, for the week against
4 oG6 100 last year and the Western receipts
IN 10, 800 bushels against 6213f11 last year.
,o,, how little reason there Is 10 look for
s,onnore of supplies. While the price declined
como last week. the quotations Of spot were
mostly fictitious. but there was nothing fictitious
about the foreign buying. Corn also went abroad
largely for the season. T. 1871 9S1 bushels for the
week. against 3.3l3.OS6 last year. and the price
was steadily held. Cotton closed at oSl cents
after a rise Of three-sixteenths last week.
although 636977 bales have come into sigh'
this month against Gi1 16s last year and tax
ings Of Northern and Southern spinners nave
been 1G3 s95 bales against .25s last year IN
the same DAYS The most effective difference l.
the increase Of foreign demand. exports nav
ing been 1906 bales this month. against o'''-
no in the same time last year. Considering
what is known here Of the state or the manu-
facture in foreign countries. such large BUYING
already nearly three hundred thousand Da'eS
greater in this crop year than in the last 10
date is not readily expanable except by '"e
idea that current estimates Of the yield are eN-
aggerated. with explanation or without TIC
buying appears and has its force
II is lust the season when the great INDUSTRIES
are usually relaxing into the comparative stag
nation Of HOLIDAYS and stock-takng ana YET III
all If them there are signs Of unusual increase
in orders as if everybody expected things 10 DE
go crowded after the holidays that 1t would De
we'll 70 got orders in early In the iron tTaue '"e
great purchases Of steel rails which Instantly
followed the failure to combine are natufa"y
attended nv purchases of 80 600 tons Bessehcr
mig bv Pittsburg works. and at last SO IS paiu
N Valley makers while 100000 tons biilets were
also sold there 10000 tons to hoop MIL anu
q disnatch states that The great Coolgaru'e
contract for 10000 tons plates has been deih''e-
" placed" at Pittsburg. At the same time
Russian inquiry for 10000 tons Bessemer pig IS
reported at Chicago. and 1l,ooo tons wire ''"'
and 1000 tons bridge material were SOFA '"e'e'
with great quantities OF black sheets for roo''"s
and Of car material
II is equally significant that large numper VI
the woollen mills have appeared IN the MAJ "''
as buyers so that the sales of wool LOT Tue '"''
two weeks have been up 10 the sea'0'~
average for a most prosperous year the P''OD'
being a shade lower according to Phi'auelp'''d
reports There is less stubbornness at the west
in holding and the action Of the buyers appears
to be based on considerable increase In orders
for goods A better demand also appears IN cot
ton goods enough to raise the price OF PRINT
cloths shade. some bleached sheetngs ana me
brown sheetings. drills and denims. No advance
appears in prices Of boots and shoes but
rather better business. in part owing 70 some
further concessions in prices of leather Al
though Eastern shipments were restricted last
week by storm. the output is not decreasing
The volume OF payments through the prIncipal
clearing houses last week was IN per cent
larger than last year and lis per cent larger
than in 1892 or December thus far the daily
average has been 1874 per cent larger than last
year and l45 per cent larger than in le'-.
Such strong and continued increase can III no
way be explained as a result Of mere speculative
activity nor is it sufficiently explained ny the
rush OF business in one or two branches OF IN
dusty II shows a widespread and general eN-
mansion decidedly beyond the largest volume OF
business ever attained in the most prosperous OF
past years.