New-York tribune., 1899-02-27
MOVEY MD RUSINESS.

| 4, ,h, sizo NJ n in spite of extreme bad weather
| ond storms Remembering that 1t takes several
| days to move goods from one section To ano'her
| co that an order sent by wire and for goods III
| stock would require n week or two peiore II
| could work out in final distribution 10 CON
| sumers It p1ust be realized that such weather
as has prevailed during much OF this month rel"
doris it's heavy transactions more surprIsi"E
Let ANYBODY look at the photographs OF the Ger
manic or of New-YOrk streets recently pup
Ishod or Of stalled trains on many Eastern ana
Western railroads. and then consider tha' III
this same February payments through the chet
clearing houses have averaged S3V3VVVVVV
daily. against 500 100000 last year and S2O6-
600 900 in 1892 the best Of all previous years
until the last. The rush was naturally greatest
iu this city, but outside of New-YOrk the pay
ments at thirteen leading cities averaged s9o'-
900 900 daily against about S10,0O0,OD In lS92
while sxty-seven smaller cities. even in such
month as this. have been adding payments at
the rate Of about S23 100000 daily
The point of greatest interest is no longer IN
the stock market, and even there Is no longer
I'm the great transporting companies. but mas
drfted away to the concerns supposed 10 repre-
sent great Industrial operations Tobacco rose
S31 % per share, Wire SO 81 per share, Sugar
SO -, and while 100000 shares Of these three
stocks were sold with 100000 more of Federal
Steel and Brooklyn Rapid Transit. which both
declined the sales Of all the railroad stocks were
only about three times as large most Of them
Yielding somewhat After the rise to S'3 80 on the
10Th. the average of railroad stocks declined to
$40 94 on Saturday. closing IS cents per share
lower for the week The Trusts climbed up
50 90 per share The earnings Of railroads were
good considering the severity Of the weather.
falling for the first half Of February only IS
per cent below those OF the same weeks In lS9-;
but that is not the cause of shifting interest
The fascination Of swift advances from Hlp 10
$40 per share gcts the better of the innocents'
who never will sufficiently appreciate the beheV-
olence of the manufacturers by whom the
ownership Of enormously profitable plants is dis
tributcd to the public.
Their. have been so many consultations and
combinations that much confusion Of mind
about them is natural. The magnitude ana
profits of the great industries do not really de-
pend on these operations. and it is still an open
question whether the best and strongest OF them
have improved their condition or are better able
10 meet the competition OF the few successful
concerns which have refused 10 combine. The
present situation is phenomenal With the iron
works under contract until July or later for a
great share Of their capacity in the more i'm
so rapidly that the works still able to make
early deliveries can wellnigh name their own
prices The last week one Of especially
excited markets and the average advance Of
anthracite No at the East and Bessemer
and Grey Forge at Pittsburg has now been 1G.J
per cent since January l. while in Eastern and
Western bars plates steel rails structural
shapes and wire and cut nails the average adj
vance has been 11G per cent. Heavy CON
tracts are constantly reported as offered. and
some taken. but not SO many Of foreign origin
are now observed there were recently; and II
would no: be strange If combinations should be
found at a disadvantage when the works begin
to look for more new business.
Much the same excitement has extended to
cotton goods Of which tho prices Of many have
been advanced from two to four times each. al
though the rise In prices has been by no means
so great the rise in raw cotton. This has
advanced nearly 13 per cent since January /.
and the shrinkage Of receipts from plantations
does not cease In February thus far 3S1 .G0j
bales have come into sight. against 1SS.2sl in
the same weeks last year. while Northern spin
ners have taken only III 30 bales, against
1920 last year. tho estimated Southern CON
sumption being 10000 bales larger. and the ox-
ports have been 53G, ,467 bales. against 6ii 80
last year II is not strange that the reported
decrease Of 264OOO bales in the worlds visible
supply during February. against $1,000 in the
same weeks last year. attracts notice. But IT is
not possible yet to measure the influence Of Sc
we're storms upon the movement Of cotton, nor
the influence of the rapid advance In prices upon
the disposition Of planters and dealers to hold
all they can There is room for some sensa-
tional changes in the market before September,
especially if the demand for goods holds strong.
Another of the most important industries has
manifested much increased activity. the boot
and shoe manufacturers having secured better
orders by reduction Of about 2i2 cents in mems
grain shoes Creedmoor split wax brogans. split
boots and womcns grain and split shoes and
this in spite Of slightly higher quotations for
grain and glove grain leather. The actual ship
ments from the East have been falling behind
last years and those Of corresponding weeks in
other years also ever since January. and the
persistence of buyers in waiting seems to bear
some fruit. The sales OF wool continue only
moderate in quantity, and fairly proportioned
10 the work being done in worsteds chevots
and serges but there are still signs Of weakness
In fine fleece and in the demand for such heavy
weight goods as require it. Apparently the
stock OF old Australian is not yet quite ex-
hausted.
The price OF wheat has further advanced. IL
cents last week, with February exports continu-
ing larger than last year. far about 1000 600
bushels The movement. though smaller than
I'm January is the more surprising because OF
the severe weather. and receipts Of wheat.
100000 bushels and Of corn, 5000 0O0 bushels.
larger than last year. In month so greatly In
tcrrupted indicate both demand and ample
supply. In less than eight months over 160,-
600 On bushels of wheat including -four. have
gone abroad. about II 0O0OO bushels more than
last year 20 date. The outgo has fallen
I'm February nearly 100000 bushels below last
years record The demand for time loans IS