New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-10-23

tober thus far But instead OF 20 per cent or
more the railroad stocks average only 10 per
cent higher than seven wears ago just at the
end or Presidential campaign when many
I already anticipated the coming panic and had
sold largely with eastbound tonnage from
Chicago SO7 per cent larger than in October
1892. and every reason to expect phenomenal
business throughout the winter railroad securi-
tics can hardly become worthless because some
industrlals are found overcapitali2ed.
II is stated that over a million tons ~ steel
rails have been ordered for next year %OOOO
tons within the last week alone. and the price
has been advanced So a ton. even then being
- lower than the lowest price at which billets
can be bought i'm Pittsburg or Eastern markets.
But perhaps the most striking indication Of the
future I'm the iron business is the tremendous
struggle TO get control of vessels for ore trans
portation the Rockefeller interest having SO
cured. according 10 reports. thirty vessels by
purchas and twelve by charter, besides twenty
four previously owned. and four large vessels
building. while the Carnegie company has also
been buying and the Steel and Wire Company
is expected to have twelve vessels with
capacity Of two million tons for the sea-
son. About 10000 tons Of Bessemer pig
having been bought at Pittsburs with S24 30
paid for early delivery. and with report
ed negotiations there for 100000 tons Of
billets prices grow stronger in spite OF the
great increase I'm production. Scarcity Of hands
is now the especial complaint Of the metal
workers The decline in copper which Is now
offered at Is cents. according to The Iron
Age" seems to indicate that the extraordinary
expansion OF demand in this country has not
been equalled abroad.
Shipments OF boots and shoes 10d4l2 cases
last week. according to The Shoe and Leather
Reporter" were II per cent larger than last
year. but new contracts are much hndered by
belief Of dealers that they canuot get flom con-
sumers such advanced prices az manufacturers
demand. Meanwhile. leather continues strong
In some grades though trading IL less than II
has been. but at the five Western hide markets
sales OF 265OOO sides are reported. and many
tanners being thus supplied turn in the mar
ket IS by some expected. Wool sales continue
large II .293 900 pounds at the three cnlef mar
kats but apparently less due 20 manufacturing
demand than before and more to speculation
though prices do not change. Dress goods, both
woollen and worsted. in better demand than
usual at this season. and worsted heavy weights
are scarce and firm. but in light woollens
there is less strength Cotton goods are stlH
advancing a. II there were no end to come, the
demand for sheetngs and drills exceeding the
supply, while denms are scarce and prints and
ginghams tend upward.
Raw cotton has surprised everybody with
change which many attribute to concerted hold
ing back by planters, as only 1,l42,olo bales
have come into sight in October this year,
against 81 $40 during the same part Of the
month last year But there are clearer ndca-
lions OF extensive concert on the part Of dealers
and Spectators, who appear to have bought far
and wide throughout the country districts,
especially in Texas. II the crop should prove
no more than nine million bales. as some now
estimate the speculation might be profitable.
though visible supply Of l962OOO bales Amer
lean at the beginning of the season left room
for a large decrease in yield. Exports In Octo-
Der thus far have been only 491 100 bales,
against GS9.2sJ last year. and takings Of North
ern spinners 2l1.G41. against 1866 last year.
The movement Of wheat is again IN curiouslp
close parallc,ism with that Of last year. exports
from both coasts for three weeks -four included.
being 14,6O9,6 $50 bushels. against II 800 992 last
year. and since July I. G+,25I 1903 bushels.
against "a 225 90, last year The Western re-
ceipts have fallen off In October about 100000
bushels. that they have been for the year
thus far 92,O1O.643 bushels against 91566 OO7
last year The price has declined here IA. cents
and over cents at Chicago. Corn has also
yielded little. and is going out more largely
than ever; In three weeks H. 1874. 239 bushels
against SS6S 1913 last year. But for this outgo
the merchandise exports from New York would
hardly compare az we'll as they do with last
years showing in October. thus far small in
crease OF per cent. The imports here are again |
heavy, for three weeks S29.5S4 O5G against S23.-
229,905 last year, gain of - per cent But the
excess of exports over imports last year was |
621OU'1 and changes far greater than those |
indicated would leave handsome balance The |
volume OF business shown by the principal clear |
ing houses has been in October thus far 4G7 per |
cent greater than last year. and ~ per cent |
than I'm 1897.