New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-07-03
MONEY AND BTSINESS.

LAG OO7 in June and S2O6. JOI.S12 In the nscai
wear S06 Oi5. $50 in the first half and Sllo4ol'-
973 in the last half against less than SZVo'ooV'-
600 expected for the year when the present
tariff was framed. The internal revenue mas
been 1913 142 400 and the excess or eXpehui-
lures over receipts was only SSS,S'o'9S9 Tor the
vear AS customs receipts Increased Sl4'fVo'"''
in the last half the Treasury has reason 10 eN-
nect considerable gain in revenue this year II
prosperity continues, while expenditures OH "0
count of the war will be greatly reduced. Were
not the financial position stronger IMAM IL ever
has been the heavy exports Of gold could not
have passed without causing a decided ripple vi
apprehension and indeed. could hardly have oc-
Cured AT all since a slight rise in the rate OF IN
terest would probably have prevented them.
Eurone has borrowed because this country mas
nIentv 10 lend at low rates. Merchandise I'M
ports here. S45.072 142 in five weeks past -
ner cent larger than last year. indicate that ex-
norris NAV exceed imports in June by ABOUT
$4,000 900.
II ,s difficult to believe that the strikes when
have begun in many iron and steel estaDiish-
ments will be of long duration. AT this season
works which have run for a year are otteh com-
naued 70 take some time for repairs. and the
r.oca question Is frequently left unsettled with
,he mon nouInally on strike until the concerns
oyo ready for work again. This year the de-
mand for % Der cent and in some cases p per
cent advance In wages has been met Win
refusal which seems to be not merely FORMAL
although some Of the employers have signed inc
scale There Is so great a demand for products
and the works are now in position to make SUCH
profits on them. that long stoppage Is not com
monty expected. But the wage contracts run TOT
a full year. and the large increase asked would
become burdensOme in the latter hair II prices
should recede. and at the Carnegie works the
question Of dealing with ar organization is again
involved.
In other respects this and other Industries are
enioving most satisfactory conditions The iron
works are engaged for months ahead anu
many for the rest OF the year. being disposed to
take no more orders at present few I'M
pcrtant contracts for future delivery are an
rounced including one from Russia for lS),OU
tons of rails and some large building contracts
here and at Philadelphia. The change In prices
has been mainly In pig iron. which has again
scored a remarkable advance. The shoe shops
are also generally crowded with orders so FAR
ahead that owners hesitate to engage them
selves further lest prices may change to their
disaavantage Last weeks shipments. lOS.Oij
cases were the largest ever made in a week, and
IN four weeks shipments OF 4O0.SI5 cases have
also been the largest made In any MONTH
Prices have not changed for shoes or leather
The textile works are doing much more business
than Is usual at this season. having large orders
ahead and being impatIently pressed for delivery
Of some grades A fall In cotton does not at THIS
time cause hesitation in buying goods, az so
often happens. presumably because the cohsuW-
ing demand is strong and presses so CLOSELY
upon stocks Of goods Ii Is the general I'M
prcssion that unsod textile stocks are decidedly
smaller than usual. and further advances IN
woollens are expected II speculation continues to
raise the cost Of wool. Sales at the three chief
markets have been 36,110,000 pounds in four
weeks which is far beyond the consumption III
Eastern mills. and IT does not appear that a
large proportion Of the buying Is by manufact-
urers.
The close OF the crop year has witnessed an
astonishing movement OF wheat from the farms
Western receipts IN June have been % 104, 100
bushels against about 100000 last year, and
less than II 600 600 bushels in 1896. the largest
lime record since 1892 when receipts were L.
300 600 and In January last only 19,3OOOOo; and
excepting the phenomenal May with its corner
last year. there has been no other month In
the first half OF eight years with so large
movement of wheat as that Of June. The wonder
Is that such receipts come with prices quite low
and with all official reports threatening short
WELD 1t does not matter whether the wheat Is
old or new. since farmers would not be In hurry
10 sell it at such prices az 80 cents at Chicago
indicate II their new crop were by them believed
to be light. The price dropped nearly one cent
on Monday but has since recovered and risen
half a cent Exports for the year have sbeen
about 222 100000 bushels, larger than last year
but slightly below the highest ever known.
In stocks a complete revolution has come
Railroads have risen average OF 81 % a
share. with extensive buying for investment Of
funds coming out OF hslf-yeary payments. But
industrias were badly neglected. and the aver
age for forty declined IS cents a share Sugar
| being almost alone In strength and considerable
sales. During most Of the week there some
buying on London account and the reports OF
earnings Justified the rise. exceeding last years
by 1913 per cent and those OF 1892 by l29 per
cent for June. while the gain In the third week
was 17S per cent. Eastbound tonnage from
Chicago also showed for four weeks gain Of
~ per cent over 1892. and with such. definite
facts to guide them buyers have been further en-
couraged by the New-York Centrals transaction
with Boston and Albany. Rock Island rose Ga.
last week Pennsylvania 6i1. New-York Central
81 Burlington and ST. Paul each ,. Atchison
Nashville and both Union Pacific stocks about
& and sales OF nine railroad stocks covered over
100000 shares with 10000 OF three street
railroads and OF all the industrials not nearly
many.
The volume OF business does not shrink as
much as is usual with the approach Of midsum-
mer and the principal cities report clearlngs
1868 per cent larger than last year. and Ola per
cent larger than in 1892 for the month. those
outside New-York gaining 271 per cent July
may show more decrease than usual on account
OF strikes. II they lnger but the expansion OF
business Is wonderfully general. only few small
cities reporting less transactions than last year
and about half Of those are in New England or
iAA -nlAriAr Of New-York With July settlements