New-York tribune., 1899-06-12

,bat authority now adds 121SOO0 to the esti-
mated acreage Of last year Including VI0'V" III
Texas qlone so that although the returns inu'
cate a decrease Of 81 per cent In the area 'r's
wear the aggregate is placed ut 22,433.Z4o acres
Ao tho errors detected are traced back to 1So1'
the changes affect the product per acre In recent
wears but do not lessen the expectation OF an
other heavy crop II weather conditions prove
favorable The estimated decrease of ~ per
cent would mean decline Of only about 3oi'ooo
bales. and last year the worlds consumption
was apparently I.702. 900 bales Of 800 pounds
each smaller than the supply. This year the
condition is backward. but In the judgment OF
.The Financial Chronicle" otherwise about up
TO last years and 1t Is proper to remember that
this authority has not only been found more
accurate than others in Its cotton estimates for
many past years. but gives this year fresh and
striking proof OF its care and thoroughness In
the revision OF It's own record OF acreage. In
June thus far 1876 bales have come into sight,
against 81. 2GS last year; takings OF Northern
spinners have been 30.743 bales. against 3l.62I
last year and exports have been only of,ofo
bales, against 100,S06 last year
The decline In wheat last week from SJas cents
to SO cents for cash and 2.G2 cents for the July
option indicates that past judgments as TO the
absence OF justification for the recent advance
were probably correct. AT this season. with new
wheat just beginning TO come forward and WIN
prices considerably lower than In recent years.
Western receipts Of wheat afford trustworthy
evidence as to the opinion OF the farmers them
selves and the dealers In wheat growing regions
In regard to the coming crop. II they are aware
that 1t Is to be a short crop, the western re-
ceipts would hardly rise to 5.O49, 1a bushels IN
the first week OF June. against 1,46I,o46 last
year. The exports have been falling pehind lot
some weeks past. and in six weeks -four in
cluded have been only 1S,I32,9O0 bushels from
both coasts. against 240233jl last year; but
with the official return of net exports for the ten
previous months the years shipments amount
thus far to 213139,951 bushels, against 20I l2S,-
7S7 last wear II still seems probable that last
wears enormous exports may be slightly ex-
ceeded The exports OF corn for the last SIX
,reeks have been only 1941I COZ bushels
against 81. .35T $50 last year, but for the crop
wear TO date including the official return Tor
ten months the exports have been lO4oZotof
bushels. against 201 .S57, 100 last year
The volume Of business transacted since June
| falls a little below the daily average In April
and May. as Is natural, but has been 3fo per
cent larger than last year and a. per cent
larger than in 1892 OF payments amounting
To S294 4O3OfO daily against SlW,S9S,ooo III
1so2 II appears that S92 100000 daily were at
thirteen leading cities outside New-York, against
s75 ojG. 600 last year. and 81. 10000 In lS92.
showing that the great gain has not been wholly
due to speculative operations here. halfway
earnings were especially satisfactory during the
latter part Of May. and for the month thus tar
on United States roads only show gam Oh ''f
per cent over last year. and 24.o per cent over
lso2 The returns OF tonnage at some important
a
busness is still in wesbound freight. though
somewhat smaller In such hsH-o'"S' H'e"
than in past weeks.
The iron industry ecllpsed all previous per
formances In price changes last week. ana
while ~ TO So cents was added to prices OF
anthracite Grey Forge BessemeT and western
Mig the advance In finished products was ~ on
rails 50 on bars and sheets, - on structural
forms and wire nails and - cents keg on cut
nails. with important advances In various prou-
ucts quoted by discounts from price lists IL Is
stated that the average advance for thls sihsie
week was $50 per cent on products OF IRON ana
AS per cent on pig iron, and after the ho'aoie
rise in Nav such changes would warrant SUE
n,cIon that a turn could not be far on II the
markets were subject TO normal lnnuences
Several more furnaces are about 10 go lh'o
blast. but their outrut has been largely covered
by contracts before they are reau! 10 "OiN' an"
the entire output OF the Mahoning anu
shenango valleys Is said to have been covered
bv contracts for the rest OF this year In o'ner
industries the general tendency was toward
/ higher prices. with some improvement In quo
tations for cotton goods and little In wooilens'
| and with a slight advance in mems caif shoes'
! In all these Industries the demand appears well
sustained though in boots and shoes stlll Some
what hindered by doubt whether the recent au-
vances in prices Will be maintained A shs".
weakening was seen last week III prices Vi
leather and in the Chicago market for hiues'