New-York tribune., 1901-01-14
MONEY AND BUSINESS.

With satisfactory conditions prevailing in a.
most every section and nearly every industry. II
IS possible TO view with equanirnity the few ad-
verse symptoms. Opening OF new lines Of heavy
overcos tfngs and cloekings met with only fair
demand. although prices were lower. Balmy
weather in the middle Of January Is not calcu
lated 10 facilitate operations in this line, and
prospects for reductions OF manufacturers
stocks not bright. while retailers have held
clearance sales al greatly reduced prices in or
der TO decrease their supplies. More interest
was exhibited in the market for raw material
late in the week. however. although there still
appears tendency 10 confine operations 10 the
cheaper grades Of imported wool One small
labor controversy occurred in the mining region
OF Pennsylvania, and another among iron work
ers while traction hands in Reading requested
higher wages. IN all cases OF disagreement
employers made concessions rather than risk
interruption 10 business Mills have closed
down because Of low gas pressure and lack Of
water power. but not through lack OF orders.
Across the border at the north cotton mills were
forced to suspend by their inability TO purchase
raw material at current high prices.
These comparatively Insignificant items are
completely obscured by the sound conditions
prevailing at most points. First in importance
stands the greatest manufacturing industry OF
The country. Reports from all iron and steel
centres tell the story OF healthy business,
Railroads are unable TO secure rolling stock and
supplies with sufficient promptness and makers
OF structural forms cannot satisfy requirements
for bridges and buildings. The pig iron output
increases so rapidly as 70 threaten overproduc-
ton but thus far stocks have not accumulated.
Boot and shoe factories at the West are crowded
with orders. and while there is less vigorous
operation at New England shops it is noticeable
that manufacturers refuse 10 make concessions
In prices exhibiting confidence in the future OF
this industry. Meanwhile. purchases Of leather
and hides are OF good size, and prices we'll main
tained. The lumber market is strong and active,
and glass makers contemplate a higher scale Of
prices. Many minor industries report idle mills
reopened with full time and force during the
last week. Sales OF general merchandise are of
large dimensions. and prices well maintained
aside from those lines especially dependent upon
able weather. The production of eggs in
creased with higher temperature, and more lib
eral supplies resulted in decline of seven cents
during the week while heavy receipts of butter
caused a fall Of three cents
Money grows more abundant and rates rule
low. Not the slightest alarm is caused by the
prospect of gold exports for moderate shipments
would not be felt and. on the other hand, relief
abroad could not tail 10 have a beneficial effect
here in the long Subscriptions to the Ba-
varian bond Issue were received from Ameri-
can investors. and last weeks striking curtaiI-
ment OF loans by the three leading foreign
banks adds an encouraging feature. Receipts
from the interior and liberal Treasury disburse-
nents swelied holdings by associated banks and
the weekly averages showed q gain OF over
IS 900 900 in surplus reserve while the increase
over the surplus a year ago amounts to So 000-
600. At previous time in the history OF the
country were bank exchanges nearly so large
as last week. Speculation raised the daily aver
age at New-York to about $500, 100000 but
paraIleled aggregate. For January thus far the
daily average at the principal cities exceeded
last years by 45.1 per cent. and that OF 1899 by
43 per cent. Exports OF staple products in De-
cember indicated large increase in foreign in
debtedness, but the movement this port for
the opening days Of January makes much less
satisfactory exhibit. exports falling off nearly
third from last year. while imports increased
moderately.
Stocks attained a new record in volume of
sales Monday. and despite occasional rsac-
tions the week closed with net gain of 81 66
share for the sixty most active railways, raising
the average TO SS7 5s. which exceeds all ton
records except the phenomenal figures touched
during the early part OF 1881, and falls only 81
almost superauous to remark that conditions
have changed during the intervening twenty
years. More combinations of great system.
were discussed, while many rurnors Of the pre-
vious week were denied. Whether the proposed