Evening journal., 1900-09-22

!, Sugar Refinery closes down on account
Of the scarcity Of raw sugar. Of which
all refners are estimated to hold only
0,0OO tons, but the Lorraine Steel Com
pany idle three months, is starting its
furnaces with others to follow Hesi-
tatlon incident to the presidential cam
paign is reflected in bank clearings.
which for New York show 1873 per
cent. and for other leading cities 7.S
per cent. loss from last year. Railroad
earnings for September thus far re-
ported are $15.474,9S4, a gain Of 3.6 per
cent. over 1899, and 1913 per cent. over
1895, though the Galveston disaster is
the cause Of much irregularity in re-
turns. Suspension Of anthracite min
ing does not much affect rail tonnage,
as the stocking season in the West
was over three weeks ago.
Wheat advanced sharply to 50 cents
on Wednesday, helped by gloomy re-
ports from growing districts and free
purchases at Northwestern cities. SEN
sational gains in price stopped foreign
buying, which led to heavy liquidation
and reaction almost as large as the
! previous movement Cotton has felt
the loss of consumption, declining
| heavily both in spot quotations and
option trading Brighter crop news
from Texas also has a depressing ef-
feet. The cotton goods market for a
few days continued the strong move
ment Of last week, but closed less ex-
cited. though bare OF goods at first
hands. Heavy curtailment of produe-
tion is still the rule. Standard brown
sheetings again advanced quarter cent.
with other goods following"
Bfadstreot's makes the following
comment: The unfavorable turn given
the general industrial situation by the
strike OF anthracite coal miners and
the possibility Of wages, disputes in tho
iron trade with rather less activity inI
the latter Industry, and some increase
IN weakness in the prices of cruderI
forms, have given an appearance OIL
irregularity to the general trade and
business situation. On the other hand
the course of staple prices has been very
generally upward this week; Fall dis
tribution Of dry goods, clothing, hats
and millinery has been Of large vol
ume at nearly all markets; there is
decidedly better tone noted in the boot
and shoe and kindred trades. and the
strength Of cotton goods, though an
parently in excess of that shown by
the raw material, has been regarded
as indicative OF confidence on the part
OF manufacturers.
Bank clearings reflect the expansion
OF Fall trade in a further gain in vol |
ume, but the stagnant condition OF
speculation, particularly in stocks, pre-
cludes any important gain over recent
years. Gross railway earnings con
tinue to show gains over last Au-
tumn's heavy business, but net returns
point to much OF this being used up in
increased cost Of operating.
Premature opening, due to hot, dry
weather, is responsible for a portion of
the heavy movement Of cotton to mar
ket but back OF this, of course, is the
desire to profit by the exceedingly good
prices ruling. The rush Of receipts has
been too much for the bull movement.
however, and the price is materially |
lower on the week
"Telegrams are uniformly favorable. |
and indicate a large yield in Texas,
though some damage is reported from
North Texas, due to heavy rains. Re
ports from the Lower Mississippi Val
ley are likewise favorable, while from
the Atlantic coast come reiterations oil
short crop reports. Advices that the
cotton is moving TO market with un-
exampled speed come from nearly all
Southern points.
Raw cotton and cotton goods have
parted company as to prices this week.
The rush Of buyers to secure stocks has
advanced print cloths, ginghams.
bleached goods, prints, and, in fact.
nearly all classes Of cottons. while
materially reducing stocks in hands oil
commission men and jobbars. Most
manufacturers are refusing to take Or
cers ahead except "at value" based
upon the cost Of raw material. South
ern yarn spinners are reported curtail-
ing operations, and the English spin
ners are in an especially bad situation.
owing to small supplies and high
prices Of the raw material. A little
more is reported doing in raw wool
but It is mostly TO supply current
needs Of manufacturers, and no large
amounts of wool can be moved except
at concessions. The Spring business In
mems woolens is still disappointing. ."
Friends Of William jennings Bryan