New-York tribune., 1899-04-17

The railroad stocks good and bad together,
have more nearly recovered their highest aver
age than any other class, but the common trust
stocks have made much the largest relative gain,
as their loss at the lowest point was also the
largest. without doubt railroad stocks would
have gained more but for the idea that injury to
the wheat crop would prove serious enough to
affect the future earnings of many roads
These accounts as to wheat are more unani-
mons and more positive and vociferous than In
any other spring for long time, and yet they
affect prices remarkably little az yet for cash
wheat is scarcely as high as it was TWO weeks
ago and May wheat has exactly the same quo
tation. both having advanced last week ittle
over one cent as they declined the week oetore'
Rad renorts are necessarily received with dis
trust when actual receipts at western ports Ill
two weeks have been 5s63665 bushels in two
weeks Of April against 3,30I.6SI last year ana
IN March 12.949,s75 against 996S313 Farmers
do NOT hurry forward grain at that rate with low
prices prevailing when their own losses by WIN
ter storms have been large enough to threaten
short WELD II the statements OF injury are
truthful there Is first the fact that the acreage
sown was nearly tenth larger than last year
and second the fact that resolving OF the same
fields and increased sowing Of spring wheat
make I'D for much loss when II Is widely re-
norted so early as this. Exports or wheat ana
corn have been comparatively small this month.
though some recent buying has been prompted
by gloomy reports
No other event ought to influence general
hus,ness more than the marked excess or ex-
ports over imports. S31 $40 T69, in spite OF de-
crease Of SO 100000 in cotton and S4.3Oo,OOO In
breadstuffs the minor exports, mostly OF manu-
factures. having increased S9,5o0OOO. In April
thus far imports at New-York have Increased
81 900 over last year. which is less than In
the first half Of March. while exports slightly
exceed those OF last year. against decrease OF
Is per cent in March.
Moreover the great industries are still report
ing some large export orders. although the rise
IN nrices has cut off some The Maryland Steel
Company has one for 5000 tons Of rails for
the Chinese Eastern. and the locomotive and
machine companies report others. The domes-
tic demands, including 5000 tons bridge work
at Chicago and 5000 tons structural at Pitts
burg, with many others. are crowding the works.
which are obliged to refuse much Of the busi-
ness offered Actual consumption OF pig in
manufacture was about 1.056, 043 tons In March,
reducing warrant stocks $1,000 tons and other
unsold stocks 118 tons although the output
OF furnaces was increased In that month over
1000 tons to 2457 TAG tons weekly April l.
Prices OF pig have been about steady, with
prices OF finished products generally higher for
anything like early delivery Copper is also
stronger and scarce at 1874 cents for Lake. and
tin a shade stronger at 2512 cents.
The enormous imports Of raw silk 81 per cent
larger for eight months of the fiscal year than
last year. indicate a consumption much the
greatest ever known. and yet the demand has
raised prices OF some goods little. A some
what better demand for woollens has prompted
purchases OF 1O.018.000 pounds OF wool in a
week, and some goods command a little better
price. ladies' cloth 4G cents Cotton goods are
held In spite OF the decline Of a sixteenth In
raw cotton, both by the large demand and by
stoppage OF some mills by strikes. Takings OF
spinners have been about 10000 bales larger
this month than year ago. and receipts
from plantations $4,000 larger with small
ports. The boot and shoe manufacture has
shipped from the East In April $4,000 cases. or
10 per cent, more than last year, when ship
ments were greater than In any previous year
and SO per cent more than in 1892 Orders are
larger and manufacturers claim that In some a
little advance in prices is paid.
The shifting OF loans after heavy liquidation
in stocks. and after completion Of several great
combinations. has caused differences In bank
averages which may not precisely correspond
with the actual situation II does not yet ap-