New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-01-24
MONEY AND BUSINESS.

| over at time when these same prophets OF eVll
| insist that the Nation is in serious danger OF
| foreign difficulties, and that its Navy Is OF no
| account anyway. 1t is not handsome TO say
| that a man would sell his country FOR gain But
| there Is n wide gulf Of distinction between be-
ieving that stocks are too high and should sell
lower on their merits and striving to MAKE
| them sell lower by hurting the credit of the
| Government
Congress itself has been doing Its large share
| in attempted impairment of public credit
Neither Mr.. Vest anybody else VIII pretend
| that the pending resolution in the Senate is
calculated or intended to strengthen the Gov
| eminent aud it could not have been more
shrewdly devised If it had been intended t.
| break public credit and TO get cheaper
stocks. The Cuban instruction OF Democrats
| in the House was never meant to help the
| United States the Cubars. Nobody has even
tried to answer the evidence that recognition
Of belligerency would injure the insurgents. But
in the presence Of excrtions to damage inc ooun-
try for partisan or pocuniary advantage
the sixty most active railroad stocks have
closed :3 cents per share higher than week
ago and the trust stocks only II cents ger
share lower. OF Isl 900 shares a sixth Nds Of
sugar. and. with Gas and three street railroa Is.
a little over third. over q third was Of the
seven larges; railroad stocks and nearly third
Of l55 ether issues, which. as well as all classes
# bonds believed to have value were still in
general demand People I'm this country ire
aware that Democrats in the House and silver
men in the Senate equally powerless 70 do
real harm. and people on the other side seem
not blind to the same fact.
The continued discussion about currency bills
scarcely convinces anybody that there is urgent
ceipts in twenty-five days have been $l0GS9 i52
which makes certain a larger revenue from
duties FOR the month than in January Of last
year. larger than in any month save one Of
1886 larger than in any month save two Of
1890 about IS large as in any month Of 1894
" 1899, except in The fret quarter and about
Slj0OO.O0O. against 81. i592Sj i'm January
1892 the largest month in that year save one
Internal receipts have been thus far SS3l7S41
at rate higher than in January, 1892, or any
January since except one. Nor has there APP
peared the least nervousness in financial cir
cles With bank deposits the heaviest ever
known in New-Yorll history. and commercial
loans steadily grown.; in favor and now cover
ing about - per cent Of rev discounts. against
- per cent two weeks ago, credits against for
eign bankers have rapidly increased. and those
held over at New-York alone reckoned at
$:OOoNOo0
Until last week there some apprehension
that a rise Of wheat above 81 bushe might
check exports The rise last week was more
han five cents and corrected accounts show
that 41fOOoO bushels were actually shipped
from United States ports, though current state
mcnts made the quantity both from the United
States and Canada a little smaller. In the three
weeks Of January the exports -four included.
have been 1902 1913 bushels from Atlantic and
1,WG,9i0 from Pacific ports against 5,559, %.
from Atlantic and 2.S03071 from Pacific ports
in the same weeks last year. When it is CON
sidered that exports. quite beyond prece-
dent last January. have been almost equaed
this month. with cargoes shipped to Egypt
and to Russia for the first time The magn-
tude Of foreign demand for American bread
stuffs may he better realized. Cotton has been
steady. though 962 0S6 bales have come into
sight already this month. against 1129)0 in
fou: more days in 1895. from the largest crop
.ver grown, while takings Of Northern spin
ners have beer about 9SO 600 bales larger. Up
to date the quantity in sight. $50, So bales.
is considerably larger than some people reck-
Oned the entire crop A few months ago. but
the exports thus far 1851 800 bales. are only
barely equal 10 those in 1895 from the previous
great crop.
The strike in cotton mills already helps II
strengthen prices Of goods a little, even print
,oths being quoted at ! per cen. advance. 50
that. whether helping themselves or not the
strikers rendering 4 valuable service the
employers Heavy buying of wool and Of sole
leather indicates far greater orders taken than
manufacturers have yet admitted but IL is
not denied that In woollcns a satisfactory
business has been booked for heavyweight
goods with still more in prospect. The QUOTA
tons Of leather are stronger. though but little
and hides at Chicago do not yet weaken. AL
though the market shows some nervousness
No sign Of the times is more distinctly encour-
aging than the demand for finished products Of
iron and steel, surprisingly heavy for the sea
son in rails, bars and plates and good in most
other lines The steel rail mills have orders for
100000 tons already which is $1,000 more
than they produced in the whole of 1896, last |
years output being not yet reported. Plate and
bar works obliged to send away part of |
their orders TO other establishments because |
unable TO fll all they received and the prospect
is now bright for n heavy business With |
enough to keep all the works barely employed |
prices may naturally advance. and steady /
now irrespective Of the steel rail. wire and tin
plate combinations which are in process Of for |
nation. although Bessemer pig is quoted at
Pittsburg five cents lower.
The general business Of the country is still |
increasing for payments through clearing |
houses were last week no less than - per cent |
larger than for the week last year and |
for the month thus far % per cent larger. and |
have exceeded payments in 1892 by lO4 per |
cent for the last week and 50 per cent for the |
month. 1t is noteworthy that the increase is |
somewhat larger outside New-York than in this !
city. namely. 1872 per cent elsewhere against |
9 per cent at New-York. In practical CORE
spondence with these returns are the reports of |
railway earnings. which exceed those OF last |
year in January thus far by 1916 per cent and |