New-York tribune., 1901-07-08

wheat there would seem TO be less prospect or a
large demand for the second cereal Light re-
ceipts are balanced by small exports. The local
Exchange was closed for part of the week, but
business was slow before the holiday, and huctu-
ations here we're only in response to Western
variations. Wheat easier as the season ad-
vanced and possibilities of injury became more
remote Foreign buying continues the feature
Of greatest Importance and conditions abroad
indicate that the movement will continue. While
net changes in prices We're comparatively small
option holders showed a disposition 10 take
profits whenever possible, and it was evident
that traders realized the improved crop pros
poets hardly warranted top figures.
Textile lines are doing much better than
they have for many months that cheerful feel
ing is evident among both dealers and manufact-
urers. In woollen and worsted goods duplicate
orders are received and the demand is notably
most active in the plain staple lines Mllls re-
port their capacity fully engaged. and there is
no disposition to undertake long term contracts,
on account of the uncertainty as to future prices
of raw material. Wool is now at the lowest
point in over four years, and, de2pite the fact
that London auction prices opened unsattsfac-
toriy and the domestic clip is heavy, there is
prospect of some recovery. Receipts at Boston
for the half year about ten million pounds
larger than in the months of 1900, while
shipments fifty million pounds greater.
This known decrease in available stocks. to-
gether with stubborn holding by growers, en-
courages expectation of improvement
Cotton goods also find satisfactory domestic
demand, but setback has been encountered in
the export division where prices advanced be-
yond the point at which buyers prepared
do business This had a tendency to check
the upward march of quotations, which spinners
o~itt tha
material was attained. Meanwhile middling
uplands slightly, occasional reports of in
jury from drouth proving more effective than
heavy receipts and the uncertain position IF the
manufacture. A somewhat similar situation is
found in the boot and shoe industry. For some
months hides have steadily advanced until the
present average is above any point this year,
and leather is also strong; yet the finished prod
uct commands comparatively low figure. Shops
are crowded with work shipments from Boston
are phenomenally heavy, and orders are
constantly received. 1t is evident that profits
much smaller than formerly and the con-
sumer is receiving the benefit.
Some small concessions have also been made
by steel mills. and there is sign of the ex-
orbitant prices that were predicted by short
sighted men who Were frightened by the trust
bogie. The same pesslmists are now anxious be-
cause foreign contracts are taken by American
producers at low prices. Yet these special trans
actions make 1t possible for mills to give employ
ment TO all their workmen. when domestic
buying of some particular product falls off. Thus
far this year. however. there has been little oc-
casion for this kind of export business. because
requirements in the United States have exceed
ed productive capacity. Buying continues, a
rule from thirty to sixty days ahead. and record
breaking output of coke in the Connellsville
region indicates that the demand for fuel is un-
abated. Tin has weakened in sympathy with
the collapse of speculation at London. but other
minor metals are firmly held