New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-04

stampeded More than usual prudence is SHOWN
In entering upon new engagements far aneao'
but this makes no difference when works are
fully supplied with orders covering their produc-
tion tor months to come in most cases ana io'
weeks ahead in others. 1t does not take the
army Of buyers more than single day "heh
they are ready to put in orders enough 10 Keep
an establishment busy for months In the ITO"
and steel industry. moreover. there Is scarcely
any evidence of such hesitation. and the ORDERS
received heavy for the time OF year
In boots and shoes such enormous contracts
have been placed within three or four weeks
that some pause was inevitable. In the WOODEN
industry there are not many establishments
which near enough the end Of their pusi-
ness in hand to receive orders with stipulation
for delivery within a time desired. and in many
minor Industries the crowding of works is much
the same. while the overproduction in cotton
goods and weakness in price form the obvious
hinderance OF contracts reaching far ahead
which has been observed for months.
Bessemer pig is a shade stronger at Pittsburg,
and the demands for cars and materials. agrl-
cultural implements. plates for use on the lake
the ocean. and structural shapes for new
buildings here and elsewhere. and for track ele-
walton at the West. continue surprisingly heavy
The addition or other manufacturing "oIhs anu
other furnaces to the producing force is a suhi-
cient indication that business In this industry IL
not shrinking There are still some boot and
shoe concerns which have not accepted orders
on terms accepted by others. and are therefore
not engaged far ahead. but according 10 oil ac-
counts the new orders taken in March surpassed
all records even more than the shipments from
Boston did in that month. "a per cent COM
,tsitt act
eral decline in hides at Chicago a change to be
regretted. since their exceptional dearness has
been the chief hnderance of the manufacture
ever sine. the speculation for a rise at the West
began.
While ordinary quotations of wool are little
changed it is now admitted that they are
largely nominal and that concessions are fire.
quent The smallest sales known in any week
for a long time are not fairly attributable TO
foreign conditions but to the demonstration
that the manufacturers held and still hold far
greater stocks than dealers have been willing
to believe As only 29s9 100 pounds have been
sold at tho three chief markets in the last hVe
weeks. against G3. $500 pounds in the same
weeks last year. II is not surprising that con-
cessions are reported with new crop OF wool
close at hand At the same time. the state OF
the goods market does not encourage manu-
facturers to pay high prices FOR more wool
until they compelled to. The takings OF cotton
by all spinners North and South-}lb'V" paieS
In March. against 80 900 in 1872, and 20o',"o
since Septemher against 23j1 900 In that
year from the greatest crop then ever known
go far to explain the weakness in goods IN
which Northern and Southern mills compete.
With 1Ol013sl bales now In sight against
9OJ9.0SS in 1895 to date and with March re-
cepts nearly II per cent more than in that year,
the market seems to have no great reason for
Its advance OF an eighth.
Wheat IS So largely controlled by Chicago
speculation that there is constant temptation 10
overlook the foreign demand. which took 3.o'S,-
367 bushels from Atlantic and Pacific ports last
week. against o.323.jSJ In the same week last
year. -four included. and in i've weeks has taken
10 5g2aI7 bushels from both coasts. against
SOC 2JJ last year Western receipts fall or
FOR the moment. as they naturally might after
n movement making them l2.'2''f. bushels m
five weeks against 9.765.i9 last year Nor
does the outgo Of corn. though smaller than the
extraordinary outeo last year. cease to give i'm
pressive evidence Of foreign needs. Accordingly.
the price FOR May whoa, rose "a. cents last week,
and for corn half cent. There was some dis-
position to sympathizc with the stock market
which rushed W an average OF s. - per share
on Monday. and after much nuctuation closed
81 II per share higher for railway stocks, but
the security market is not Just now a reliable
pilot for any other. and wheat prices have iar
more substantial basis in the legitimate ana
undated foreign demand one feature OF In
tercst and especial encouragement Is the small
ness Of commercial failures which in the first
quarter ~ 1895 were smaller than In the same
quarter Of any other wear since 1856 and I'm the
average ~ liabilities per failure were the small
est ever reported In any quarter FOR the twenty
three years covered ny Dun's quarterly record