New-York tribune., 1900-01-01

AL ner cent oyer 1892, many attribute the
s,rerence mainly TO stock speculation. The
-, :. that the Stock Exchange clearing house
,o,dlsd over four times as many shares in 1899
&c ,n 1892 though the total sales were only
twice as large, and have greatly iesseneo the
.-s,a-cs Of such transactions But in 1899
New-York was required 10 hhahce corpora'iohs
..., 60 ZOO 600 ooo securities. representing some
-. s. of works which had previously made
..,,.s and loans through banks of various
-, ;+fes This has swelled business pay
''''e..N ,o,n enormously lessening those Of other
- and vet the payments through other
-,ss~,,g houses have been 1l.3 per cent larger
49,, last wear and 23.s per cent larger than IN
.aoa e,,cb an increase in spite Of the transfer
:. ,ro,,.yorl of settlements amounting to sew
.rsI billions, shows enormous growth
f.oId went out last week, 4,ioo'e4o net max
ing sl1151 312 in four weeks parity balanced
hy rece;pts on the Pacific Coast, but the
-. - ,,,,nor+s of gold in eleven previous months
had been So, 1e2.S1s, so that in foreign trade
=. oo,,r+rv gained more than it lost in gold
a,.-;re the wear 1899, besides the domestic pro-
ar,,,nn which the Director Of the Mint esti-
,nates at s70694. 10 for the year which is lo
rer cent more than in 1898. Silver producton'
s14A 4696 also counts. because nearly szo'ooo'-
onO went abroad. besides other products. OF
merchandise the imports at New-fork IN rour
weeks have been 219 per cent greater than last
wear. and like gains at all points would make
the noonth,s total se7 .214O00 But exports in
fo,r weeks from New-York were GA per cent
larger than last year. and after allowance for
;be great decline in cotton from other ports the
figures would indicate a probable export balance
o4 $50 ono coo or more. This country is lending
IA Furope and glad to be able to DO so. Good
customers are priced, and in trade it is more
than frue Better fifty years of Europe than a
cycle of Cathay-
The cotton. exports in December have been
only 5e3. .Os6 bales, against 1,359,C63 last year.
ard, though 7.e9 cents is now the price. against
5sI year ago, the apparent decrease in value
Sc over s1SOO0O0O Northern spinners have
taken 40 491 bales less and Southern consump-
tion is reckoned but 5000 bales larger than last
wear Attention is needed to the fact that the
takings OF Southern spnners ere never reported,
and if the crop is actually short they would GER
tainly have taken for their use heavy supplies
long ago. without moving them faster than they
were needed. Many Northern mills buy on plan
tations in this way, and the Southern have the
advantage OF more definite knowledge of the
yield. Receipts from plantations in December
have been 1.316.631 bales, against 2012,39S last
year The demand for goods is quiet, though
aoiders are not in any visible hurry.
Sales of wool were 4,S46 200 pounds last week,
making 1886, 600 for the month, of which 81
$50, 100 were domestic but this year they have
sometimes resembled washed sales" in the
Stock Exchange. though holders are now con-
fdent and stiff. Attention is called in trade
journals to the fact that reported stocks now
157. .39S,SI9 pounds, would leave 53S,O00,O00
pounds for consumption if mill stocks were no
smaller than a year ago. and then they were
large enough to be depressing. The goods situa-
ton is not yet clear, most heavy weight open
ings having been deferred, but some goods have
gained 211 to 5 per cent. Shipments of boots
and shoes for the week are not reported but
there is continual pressure for early delivery
with small new orders. Most of the concerns
have orders for a month or two, and are asking
prices which average not Is per cent higher than
last year, while leather has advanced IS per
cent. l~e
The iron and steel manufacture rarely has
mu' = ~ev business in the holidays. but much is
now r -4ich is expected to result imme-
diately. 49,, ,thout change in pig for some
weeks the wire and nail concern announces an
other rise in prices. which is scarcely in har-
naony with the lower prices for some other prod
acts hThese concessions result from exhaustion
OF orders taken by some concerns and are
slightly more numerous, though in galvanized
sheets and common iron bars more strength ap-
pears at Pittsburg. The probable settlement
between contractors and workers or the building
trades at Chicago is held likely to result in con-
siderab BILE contracts though at the moment prices
hinder. Tin is weak and has lost about 8
cents Of its great advance to September. but re-
tains about 51k sents gain since January l. 1899;
while copper after rise of 51s cents is 81 cents
higher.
Money is no longer scarce or dear, and heavy
returns from the interior are expected after
settlements but it is difficult to say how the
financing of the great new corporations will
affect the usual course Of events in this respect
That their disbursements will have much to do
with the course of interior money markets is
evident. How far the Secretary will extend his
deposits of internal revenue receipts does not
get appear, but, while unnecessary for the pre-
vention of disaster, these deposits are liable to
encourage renewal Of the speculation which has
only recently been checked, and If renewed
would involve some dangers in a Presidential
year.