New-York tribune., 1900-10-29
gramme, which deserves success. and which
bids fair to succeed.
MONEY AND BUSINESS.

lines of merchandise particularly drygooos'
clothing heavy footwear, millinery and hats.
This unusual warmth is not limited to a narrow
territory but Is felt in almost every section OF
the country. 1t cannot fail to restrict the VOL
ume of trade to a considerable extent; hence
the reports of bank exchanges are most gratity-
ing as last weeks total exceeded every week
since the one ending May ). Farm and planta-
ton operations are greatly facilitated by the
mild weather, and crops will be secured that
would have been lost under normal condltohs-
Two iron mills at Joliet shut down, but more
manufacturing concerns have resumed, ana
there will be little further delay about mining
in the anthracite coal region. The feeling OF
confidence extends in every direction, and there
is a striking scarcity of calamity howlers and
alarmists, except on Democratic platforms.
Returns are slightly less satisfactory as to for
eign trade. which is falling somewhat behind
the remarkable figures of previous weeks,
ports from this city for the third week of Octo
ber showing a decrease of $3,000,00O, compared
with the corresponding week last year. making
the months total about the same in 1899,
and imports also keeping close to the fig
ures Of a year ago. Judging by the movement
of merchandise at this port, there will be a trade
balance for the month of about S50OO0,O00 in
favor of this country.
Financial conditions are not materially altered.
and the threatened stringency in the local
money market was averted without especial
efSprt. The market regulated itself automat-
ically; rates for money hardened there was
a corresponding weakness in foreign exchange
which started gold this way and prevented
trouble. The bank statement reflected arrivals
of gold, but failed to show the gain in loans that
usually accompanies an active and rising stock
market. Money is now ample for all require
ments including large operations in securities.
The demand for crop moving has decreased
from the heavy figures of earlier weeks, which
made transfers at the Sub-Treasury for New
Orleans nearly S5,000,OO0 more than last sea-
small offering of commercial paper in
dicates the strong position Of merchants Who
have little need for accommodation. Foreign
exchange is still weak, and offerings of cotton
bills continue large.
A month of advancing prices took the average
of sixty railway shares to S74 IL on Wednesday.
which was within 50 II of the top point in the
last seventeen years-September 3, 1899 A
small decline of 43 cents share during the last
days of the week not surprising and heavy
realizing was conspicuous in certain properties
but the market exhibited a remarkably firm
undertone considering the extent of the recent
advance Industrial stocks rose to $57 AZ
Wednesday, a gain of over 81 a share in a
month. while traction and gas stocks reached
their best point on Friday. gaining $13 60 a
share for the month If the outlook for all
branches of business was not so exceptionally
favorable. these figures would indicate a top
heavy market, but conditions are unusually
propitious and precedents may not be followed
The iron industry has shown more vitality,
and confidence In the stability of prices is gem
eral. Pig iron is sought eagerly by manufactur-
ers who have delayed purchasing until their
stocks Of raw material insufficient for max
ing goods already sold Railroads have taken
supplies of all kinds in great quantity including
large contracts for rolling stock. There is less
agitation for cheaper rails. partly owing to the
advance in billets, which puts the two more
nearly parity. In many departments, such
ship plates, bridge material and structural
shapes. there is less disposition on the part of
makers to contract beyond the end of the year.
Purchasers are ready to accept former terms
but find sellers reluctant to do business
At Pittsburg last weeks transactions were the
best since prices broke in the spring. especially
of finished forms. General improvement is also
noted at Chicago. and machinery shops at all
the big cities are crowded with work. Lumber
continues in a firm position, and few con-
cessions are made from the high prices recently
obtained Arrivals are large at Buffalo and
Philadelphia, but the demand is brisk and stocks
do not accumulate Paper trades report activity
water power
Boots and shoes now moving freely, and
jobbers exhibit a desire to augment their de-
pleted stocks without further delay. Demands
for prompt shipment have crowded the capacity
of shops, and resulted in such a general rush for
material that holders Of leather and hides have
pushed prices up vigorously, although no bet
ter terms are made for the finished product This
state of affairs cannot be expected to continue
With hides back to the prices of last spring and
leather higher than at any time since July, boots
and shoes are still at the lowest point of the
year. Textile markets quiet, heavy goods
moving slowly account of the temperature
and cotton goods disturbed by the break in raw
material Prints and other cloths have not re-
sponded to the decline in cotton, but on the
other hand, they did not advance in proportion
Manufactured articles do not as a rule, follow
the fluctuations in materials promptly
which Is mainly due to extensive speculation in
the latter. Wool has been taken more freely at
Eastern cities, exceeding transactions since the
middle of August. Prices are quietly main
tained. with speculative activity. but much
stubborn faith is shown by Western growers
who refuse to accept bids from manufacturers
at figures slightly below current quotations.
Cotton fell to ga cents for middling uplands
a loss of 81 so bale in three weeks and recov-
cred sixteenth on Saturday. The severe de-
cline brought out more foreign buying and
sales for export were larger than year ago in
quantity while over two cents higher in price
Picking advances rapidly. but the recent de-
crease in value has retarded shipment to mar
ket. The slight recovery was not unwarranted
in the face of these facts and reports of falling
temperature. Wheat declined two cents and
corn one cent, because Of generally good neu,s