Evening journal., 1900-09-15
THE EVENING JOURNAL SATURDAY. SEPTEMBER Is. 1900

possible, however, If the picking season
is long and frost is delayed. Bull esi-
mates Of consumption are that IL ,OO0,-
600 bales of American cotton are need
ed, but these must necessarily be re-
duced, not only because of the impos-
slbility Of such a yield being gathered
but also because higher prices oS cot
ton goods are expected to reduce con-
sumption"
OF the general state Of trade r. G.
Dun & Co. says:
THE tropical storm that devastated
the gulf coast, almost wiping out the
city of Galveston, and doing damage in
other parts of the county. caused
reduction in the volume of business at
the South, and railroads in the gulf re-
gion have probably not shown their
maximum losses of earnings as yet, but
even after such a catastrophe a recu-
perative power is shown. An added
cause of hesitation in business is the
order for a strike of anthracite coal
miners. Otherwise the working force
has increased this week. for operations
are resuming at steel mills. and the
Michigan-Peninsular car plant and the
Dsering Harvester Works have started
up, after seven weeks idleness, with
5000 hands each. From many quarters
Of the West and Southeast a better dis
tribution of merchandise is reported in
jobbing and retail circles. The weather
has remained favorable for the matur-
ing corn crop, with cutting progressing
and the crop generally beyond danger,
but damage to cotton by the storm is
still an unknown quantity. Prices of
staple commodities are higher for the
week, hOisted by the sharp rise in cot
ton, but in manufactured products
there is little change, though steady
increases of business at the current.
level is satisfactory. At New York
bank clearings for the week decreased
1926 per cent. from one year, and 1872
Per cent. from two years ago, while at
leading cities outside New York there
is a decrease of GA per cent. from one
year, but a gain of 1873 per cent from
two years ago. Wheat rose above so
cents again, in the face of receipts for
the crop year thus far S,415, $50 bushels
larger than last year, while exports DE-
creased 10,251 1878 bushels, including
flour. Reports of heavy rains in some
sections and injury to the crop, with
better inquiries by foreign houses. ex-
plain the advance. More orders are be-
ing received at iron mills, and prices
are steady. In structural and finished
material there is much business. and
activity is becoming almost universal
in the iron region. Steel rails are
waiting for the agreement as to prices
which is expected to be reached next
week. A reduction in keeping with
other steel products is considered GER
tain, and then the market will be on a
settled basis Exports of principal pro-
ducts in August were valued at S51 =
222,249, against s54436,474. larger
balance than last year Money is a
shade harder, but loans over election
are easily arranged. While Wall street
is becoming discouraged by protracted
inactivity, prices do not yield largely,
and London bought about 10000 shares
on balance. Railroads, comprising
more than half the mileage Of the
country, have reported earnings for
August 54,41S,s1O. a gain of ss,S65, POP,
or 6.6 per cent. over last year. when
revenues we're the largest ever known
for that month"