The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-10-15

SATURDAY, oet IA.


Trade statistics from various sources that
have come to hand At the end Of the week show
q further increase In the volume Of general
business. Bank olearances for the week were
~ Der cent larger than In the previous week
and 80 per cent. larger than in the correspond
ing week Of las, year. Az compared with the
last yecr Of great business activity. namely
1897. the increase 10 81 por cent. Hallway
gross earnings. so fer as reported Tor
the nrst week In the current month.
are per cent larger than for the correspond
ing period Of last year. and the net receipts ior
August. which have just been computed. are "a
per cont larger than for the same month OF last
year The production OF iron 10 steadily In
creasing and at the same time the supply on
hand 10 constantly being reduced. As every
on Q knows. the prioes OF both pig iron and pro-
ducte man ufactured from II are continually
advancing. Another staple product that COM
mands higher prices 10 cotton. and the advance
in II 10 OF great i'm portance because 1t Affects
large section OF the country which has not until
recently participated as fully as some others In
the extraordinary prosperity Of the country.
Exports OF both raw materials and OF manu-
featured goods are made upon an increasing
scale. The total exports for the last month
were nearly $40.O00,0O0 In excess OF imports.
though those last were about S22. DOC. 900 larger
oreasing wealth OF the country 10 shown by the
fact that i'm ports during the nine months end
ing Sept. 30. wore approximately S11OOOOOOO
larger than during the corresponding period
Of last rear. Notwithstanding this enormous
increase, the excess OF exports was $317.2S1-
0OO.
These figures indicate that the foreign COM
merce Of the United States in the present csl-
endar year will be the largest In their history.
This condition Of affairs. together with the
political unrest abroad. has enabled this coun-
try 70 further reduce its financial obligations
abroad without the transfer to Europe OF any
oonsiderab bic am cunt of cash. The LIQUIDATION OF
foreign Indebtedness on an extensive scale
has now been in progress nearly ten years. and
in consequence. that indebtedness has been
very materially reduced an d our financial posi-
ton correapondingly strengthened.
Tho weekly statement Of averages OF the
Associated Banks shows a further improve
mont in their condition, but none as regards
the business community. The only encourage
mont TO be derived from the statement Is the
fact that the loss In cash Is smaller than for
many weeks past. The contraction in the
loans 10 also smaller. This would seem to In
dioata that the banks are approaching a turn
ing point The net result. due entirely TO
smaller deposits. 10 an increase Of over $780,
up to over 81. 100000.
In view OF current criticism OF the course pur-
sued by the banks. IL Is interesting to note
that, although their deposits are only S4S.0OV.-
900 larger than year ago. they have expanded
their loans S60.0O0oOO At the same time.
their reserve Ia over $4,000. 900 less han it
year ago. and the surplus is only Sl.177,350
as against $40 .66l $50 last year.
To-dAy's stock market was dull and irreGu-
lar In many stocks there was a fractional re-
oovery from Yesterdays decline. But Brooklyn
Rapid Transit. which again led the Hat in res
pect TO activity suffered further noteworthy
net loss. Whatever strength tho market
showed was duo largely to the clos
ing OF short contracts. The narrow and
professional character OF the market may
be Inferred from the fact that the
speculate was influenced to no small extent
BY reports that promi emit operator. who for
some weeks past has been active upon the
short side. is about to announce, through tho
mediums OF publicity usually employed by him.
that he has discovered reasons for advocating
ventures for long account.
As com pared with the Anal prices OF last Sat-
urday. the majority OF stocks are lower. The
more I'm portant net declines are in Brooklyn
Rapid Transit IA per cent. Metropolitan
Street Railway 5%. American Tobacco AZ. ct.
Louis South western preferred 4. Pacific Mail
and Reading frst preferred TX each. CONT
mental Tobacco and Colorado Fuel 2 each
Southern Pacific IL. Missouri Pacific ~. Man
haitian Railway ~, American Cotton OIL I IA st.
Paul ~. Rock Island and Tennessee Coal and
Iron | enoh. Atchison preferred u. American
Sugar Refining. New York Central. Federal
Steel and Penney vania Railroad y each. Bur-
lngton and Quincy. Peoples Gas and Union
Pacific preferred y each. and Anaconda Min
ing per cent. The noteworthy advances are In
Pullmans Palace Car 10lI per cent. Cleveland.
Cincinnati. Chicago aud ct. Louis n. Amer-
can Steel and Wire l u. U. 4. Leather y. and
Louisville and Nashville 4 per cent.
Closing Prices of United statos Bonds.
AlI AIkkI.l I'D AIhNd.