New-York tribune., 1900-07-02
MONEY AND BUSINESS.

The great fire at Hoboken destroyed vast
property devoted to international trade, but
doubtless all of 1t will be replaced as soon as
possible, making no difference in the ultimate
expenditure investment for such uses Ihe
weeks imports have been 81 100000 less than
those of year ago and in four weeks imports
increased only $2,S0O,000, against an increase
of S450OOO0 or more in merchandise exports
Nothing appears to check the expansion of for
eign trade. especially the side of exports, un-
less the difficulty with China, which has re-
Gently become important. should also become
more threatening. At present it is only fair
to say that the United States appears likely 10
have large advantages IN contrast with the
rest of the Powers dealing with China, II our
course thus far has been as free from coercive
tone as dispatches indicate.
The closing of the crop year fixes the status
Of foreign demand during the last year ana
three years in points which may prove OF con-
siderable Importance. Full official reports for
the eleven months ending with May show actual
exports OF wheat. including -four, amounting to
169 731 915 bushels. against POS. .763,O93 bushels
during the corresponding months of the pre-
vious year. For the rest of the year there
must be added exports of 16,I3I,5I4 bushels
flour included, for the four weeks of June, and
a little more for the remaining days, against
12.972. .234 bushels last year. The remarkable
feature of this return is the singularly close
CORES spondence in exports OF the two grains
taken together for three years past. Adding
the four weeks mentioned and half a weeks
allowance for days omitted. the exports of
wheat would amount to about 1SS,50NOO0 bush
els. and meanwhile exports Of corn were in the
same time 211.647. $50 bushels. But in the pre-
vious crop year practically 401.776,969 bushels
of wheat and corn, flour and meal included
were required. and in the year preceding that
the quantity was slightly greater.
The advance in the price of cotton to 10 cents
has produced some curious effects. There is
less selling of goods; prices of important cotton
goods have not advanced, but in some cases
have been reduced. especially standard print
cloths by the Fall River committee to 2.S7
cents. There is distinctly less confidence in the
maintenance of prices through the general list
because of the speculative excitement which
has rushed prices of the material forward SO
rapidly. The speculation In this country turns
almost wholly upon guesses about the sufTicency
of the coming crop to the demands upon it, and
at present leaves Continental spinners to settle
their quarrel with the cotton owners as best
they
The closing of iron works is now to be the
sensational feature. This week all the tinplate
mills. several hundred in number, will be closed
by failure to agree on the wage scale for next
year. 1t does not seem strange that there is
some failure to agree. for year ago this asso-
citation appeared to be anxious any other
in the country to make terms with it's employees
quickly possible. Some works advanced
wages voluntarily just they had be-
come members of the combination. Others made
advances two three times during the year,
and general advance of II TO 10 per cent was
effected about year ago. 1t is by many con-
sidered strange that a further advance in wages
| is asked at this time when 1t is we'll known that
for the greater part of the year advance in
prices has been possible.
But it is evidently the policy of the great iron
and steel concerns at this time to curtan their
production extensively through stoppages in
form. for the purpose of arranging about wages.
The hoop, sheet and some other important con-
Germs are engaged in similar negotiations. and
1t does not seem probable that speedy agree
ments will be reached by any OF them The com
bnatiOns, meanwhile. especially desire to attain
an agreement by which the transfer of work
of some sorts from one class of establishments
to another may be restricted. Moreover the
Thomas iron concern has issued notice that 1t
will reduce wages at all ITS furnaces an average
of 10 per cent, and the Empire steel concern
| and some others of like character have given
notice Of reduction. Before all these matters
have been settled it is probable there Will be
less accumulation of unsold product and less OF
unsold pig iron at any of the establishments.
! The wool industry. though not troubled like
! the cotton, does not fare better in any essential
| respect. The extreme rise of prices last Febru-
| airy placed dealers at such a disadvantage that
! they were afraid TO buy goods at almost any
! price because they feared that. before. the
! magnitude of the stocks carried over had been
| greatly underestmated. Although the market
! has virtually ceased TO exist small are sales
and offerings there is still considerable yielding
in prices amounting since the middle of June TO
about half a cent pound. The manufacturers
have not openly reduced prices, as rule but in
good many instances there have been private
! concessions, and in other cases the works have
| stopped or reduced force for want of orders to
justify continuing. Eastern boot and shoe shops
! have generally stopped or reduced force for the
season, and are now looking forward TO the next
seasons orders Difficulties as to prices have
not been removed and it is generally understood
| ceeded quarter third those of other years.
! Nevertheless. the leather dealers maintain on
: their part that there would be scarcely any de-
mand even If some concession in prices of leather
was offered. Hides appear still lower both here
and at Chicago.
1t continues surprising that the volume OF
! business in spite OF all this shrnkage at some
important manufacturing centres, is heavier
than in any previous year outside of New York
and Boston. The fact that payments through