New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-04

0.Sf to b cents, ana wool from an average OF
2472 cents for 100 quotations by Coates Broth
ers. of Philadelphia, March 1. to 21.5S on June
1, though change in the grades quoted would
account for 81 Of cent in the decline. Neither
in cotton In woolen markets are demands
large enough to keep all mills at work. though
the number inactive is smaller than most people
imagine A further decline in hides at Chicago.
making II per cent from the highest point last
year. is yet only family followed by prices Of
leather, which have yielded not quite per
cent. Many of the shoe factories waiting
for business, and wholly partly closed. and
their shipments in May were 27.7 per cent
smaller than last year.
These industrial data, pointing strongly tow
ard lower prices appear singularly out of har
mony with the record of payments for goods or
for transportation. The payments through banks
in May show considerable decrease at New
York, which stock operations may explain and
at practically all New-England cities. with
Philadelphia and Baltimore, in the aggregate
sos, 100000, or 10 per cent. Pttsburg was in
this list until May. but joined other Western
and Southern cities, which in the aggregate
show gain of 1925. 100000, or per cent. Thus
outside New-York there is a small gain for the
month, although six of the central cities show
decrease In May for the first time this year, and
seven other Western and Southern cities. The
records of the railroads more harmonious in
character Divided by sections and classes of
traffic these railroads within the United States
gained in every section and every class both
last year and over 1898 and though the
gains range from 90 per cent granger roads
to 19.1 per cent on Eastern anthracite
coal roads compared with last year and from
IL to 31.9 per cent for the same two classes
compared with 1898 such gains even in pay
ments for the transportation of products
highly significant.
The stock market is not blind to these facts
The average of sixty railway stocks rose last
week 81 2S a share. to S13 10. the lowest
average this year thus far having been $40 OF.
in January. and the highest SIS 80. on April 4
Meanwhile the forty industrial stocks also
gained something last week, closing at SOL H.
against $50 81 share their lowest point
this year, and sos 80 February 3. their highest
point. 1t Will be observed that in these stocks
the decline from the highest to the lowest point
nearly twice as large as In the railway
stocks, and the recovery from the lowest point
to the quotations of Saturday night about
the same.
1t might be inferred that the import trade has
played only small part in the comparisons for
May. In five weeks the amount of imports was
not a twenty-ffth part of the domestic pay
ments outside New-York. But the imports at
this city show slight decrease Of 1921. 354 for
those weeks. while the exports from New-York
alone show gains of about S9,O00.OOo, besides
81, 100000 more in the value of cotton exported.
notwithstanding some decrease in quantity. 80
that the total exports for the month of May
should exceed S105 100000 In five weeks the
exports of wheat flour included. have been
81 42S,126 bushels against 15.774.S 53 last year,
and the net official exports in ten months prior
to May We're Isl, 7O2, 462 bushels, against 1884,
407.424 last year. Corn exports also show a
gain. though not quite so large, amounting in
five weeks to -. 743, 5SS bushels. meal included
against 16, 1874. 713 last year. The net exports in
ten months 179.447.161 bushels. against
144555 743 last year.