New-York tribune., 1900-12-10

which have decreased 2to,Sbo oaies compares
with 1899. Considering these two items. ii Is
little wonder that some decline occurred. but
the price is still s12 Is a bale higher than 1t
was year ago.
Vigorous competition between producers OF
iron and steel makes necessary some decrease In
cost of production and consumers viii reap
the benefit Notwithstanding the large amount
of business recently booked. the advance IN
quotations was small. and mills are now hs-
uring on new contracts at close margins es-
pecial efforts being made 10 retain foreign mar
kets Conditions are sound. and, while tnere ls
a much brighter outlook at Chicago tnah IA
Eastern markets all have large forces employed
A pressing demand comes from the railroads ior
cars and locomotives while numerous bridges
and much track elevation require heaVy tom
mage Of structural material Products OF oar
mills were In such request that more idle con-
Germs resumed and there was an advance OF %
a ton in sheets. There is uncertainty regarding
the future price of ore, and the feeling az Pltts-
burg leans toward reduction in cost OF all raw
material, while it is rumored that new lists go
into effect on January l.
Shipments of boots and shoes from Boston
showed further increase to s6.e63 cases.
against 5.223 the week preceding. Although
the movement is now at the best point Of the
season. II is 4614 cases less than year ago
There is encouragement in the steadiness OF all
grades at the recent advance, and. while no
additional gains have been secured, manuraet-
urers refuse offers at the old lists Shoe shops
are we'll occupied on old orders. ana Joooers
prefer to accept poorer qualities on new business
than to pay the small advance. After such
long season of small sales and unchanged
quotations the situation is much improved by
the recent rise and the general activity at fac
tories Leather is not offered freely by dealers.
FrOy,, On H.
facturers on old contracts. Prices are well sus-
tanned. and the ign supply prevented some
urgent export business Another wholesome re-
duction in Chicago hides puts the material
nearer a parity with the finished product.
After many weeks of sagging prices wheat
developed burst Of strength and recovered two
cents The advance chiefly due TO the reac-
ton which usually follows a protraeted move
ment Of prices in either direction. A foreign
authority estimated the requirements OF import
ing countries at unusually high figure but
any influence on domestic markets was offset by
Russian exports, which in eleven months were
20 per cent larger than in 1899. Meanwhile re-
ceipts came forward freely at interior cities and
exports were light Even the early gain was
about lost by the end OF the week. Corn Jared
better. rising nearly three cents and retaining
most Of the advance. Foreign buying was exeep-
tionally heavy. exports exceeding the same week
last year by 20 per cent, notwithstanding an in
crease of 10 per cent in price. poor crop report
from Kansas was a supporting influence.
Wall Street trading was more moderate in
volume with most erratic fluctuations. In
vestors turned their attention TO the railways
putting animation in Erie and other securities.
Part of the recent sharp advance in the Pacifcs
was lost. while many high grade stocks weak
ened. The net result small loss Of Al cents
a share for the average Of sixty most active
railW ays. Gradual absorption of bonds indicates
for investment Of the enormous divi-
dend distribution at the end Of the year. Indus
trial stocks appear to have lost their charm,
even Standard Oil reacting sharply from the top
point. The ten most active listed securities in
this class fell average OF S3, making SO in two
weeks. while the five largest traction and gas
stocks declined So SO share for the week. also
making about So in two weeks. Considering the
lack OF definite information regarding these
it is not surprising that investors sup
port the railroads instead. which continue to
show gains in earnings-for the last week OF No
vember per cent over last year-and despite
some loss in the grangers. the total for the
month is well above even the remarkably satis-
factory statement in 1899.
Foreign trade returns at this port during No
vemLer were less favorable than in the preceding
month, but good credit balance for the country
is assured and money is due the United States
in spite of heavy stock sales. Gold is route
from Australia, and more could easily be en-
gagged II necessary. AS the end OF the year ap-
proaches rates have natural tendency to hard
en- for the usual arrangements must be made
for Interest payments. 1t is obvious that this
can only affect the market temporarily. and time
loans can now be made per cent lower than a
year ago. Preparations for holiday trade have
drawn money to the interior, and New-Orleans
has taken S11 100000 thus far this season for
handling cotton. Hence decrease in specie was
expected. and the associated banks report de-
cline in surplus to S5.7O1.1 That money is
abundant for all legitimate requirements was
shown by the official report on December l.
placing the amount in circulation at S2.15S.-
761, ,367 or S2S O4 per capita Both these figures
exceed all previous records.