New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-01-09

for a long time, and most or the pidte His u o
in like condition. Whether the structural WORKS
will get as large business with prices IL TO -
a ton higher is for them to Judge. The con-
tracts for 10000 tons rails by the Pennsyl-
vania 125.OOO tons billets by one establishment
at Pittsburg. 10000 tons bars for agricultural
implement works. and 5000 tons plates and ma
terial for many thousand cars at Chicago. by no
means indicate that the demand has been
checked as yet.
Cotton has risen to 5.94 cents, just its price
year ago. over 100000 bales have now come
into sight. to Friday night S.OO1,916, or 1850
more than to the same date from the great crop
OF 1897 and while the exports, 44S3S2O baies
to date continue larger than a year ago. and
so far 4SS471 bales larger the quantity added
to visible stocks OF American cotton In Europe
has been 7s9, 900 bales or 301 900 more. and 1t
must be added that foreign mill stocks on hand
are about 10000 bales larger. Spinners' TAX
ings here have been about $1,000 bales larger
than last year. but with many weeks of cur
tailment the consumption has probably been
smaller thus far. Goods since the curtailment
are In stronger demand with rise in price
as yet proportional to the rise in cotton. The
only changes thus far in woollen goods have
been reductions in Clays OF ~ to cents, and
In beavers and kerseys OF 10 to Is cents and
Brothers Is a shade lower, at 1908 cents. against
1923 December 1. Leather and hides are both
a shade stronger although already high
that business in boots and shoes has been small
and a good many factories are closed and wait
ing.
Speculation seems to have gone out OF grain.
and wheat closed about 1871 cents lower with
corn 15O cents lower year ago wheat closed
bo last Ca n
612 cents. The exports thep 3,4S1,5i6
bushels for the week -four included. but last
week were G,SG0,26S bushels and since Deem
Der / exports have been 81. 1895 bushels.
against 245O4 1914 last year. Nobody find
a reason for low prices in this comparison, nor
attribute them to heavy Western receipts.
which In five weeks have been 3457S,3S9 BUSH
els, against 25 056 last year. With exports
almost as big and showing nearly as much In
crease as Western receipts early In January,
and with visible supplies much smaller than In
previous years and declining, price nearly 20
cents lower than last year has no pretence OF
reason unless last years price was absurd. There
u.s. moreover, the continuing foreign demand FOR
corn which probably cannot be met much
longer from the somewhat reduced crop. and ex-
ports in five weeks have been 1871 1913 bushels,
against 1904 $50 a year ago Yet last years
movement was far beyond precedent.
Considerable shipments Of gold to Cuba have
led some to imagine that money may grow
tight. But all the additional money that the
small population Of Cuba can employ, until 1t
has become much richer and more prosperous.
would not balance last weeks increase in bank
reserves The time to look for stringency Is not
right after the heaviest annual disbursements
ever known for interest and dividends, nor when
Europe is shipping 81, 10000 gold Just ordered
and tremblingly asking whether America will
be patient last year in collecting Its debts
The sums loaned abroad are larger than ever,
and December exports Of merchandise from
New-York were 16 per cent larger than last
year. when the aggregate was S12o,OOO.OOO.
while imports were only 107 per cent larger
than last year. when the aggregate was SOL,
OOO.OOO. Besides the West is full OF money.
and this is the season at which much money
naturally comes hither New-York gained
sos 500 900 from the interior in the first quarter
Of last year. The cearngs, far surprising all
records in December and for last year, rela-
New-York exchanges were 81. 60345613 in five
days. against 81. ,S07 ,394 in six business days
Of last year. The transactions at other chief
cities S.S per cent larger than last year. 33
per cent larger than In 1897 and 26.2 per cent
larger than in 1892 These figures give some
indication Of the enormous volume Of merchan-
disc settlements beyond this city, where I'M
known and always large part Of the exchanges
may be attributed to operations in securities.