New-York tribune., 1901-06-17
have substituted other men for strikers without


provoking outbreak. Some controversies
have been settled by concessions while work
continues at other points pending agreement on
a scale to take effect July 1. The number OF
men actually idle owing to disputes with en-
ployers is trihing for this season, as there is
always much discussion just before the nesih-
ming of new fiscal year.
The small shipment of gold had signifi-
cance as money is extremely easy abroad. and
no inducements are offered for accommodation
Another reduction makes the official rate of dis
count for the Bank of England per cent. and
call loans in London have of late been made at
1 per cent This has stimulated the demand for
long sterling exchange at the expense of shorter
time remittances. Local banks reported another
big expansion in loans, making an increase of
S34 100000 in two weeks Deposits show cor
responding gain, and. as cash changes are
trfing, the surplus reserve has fallen ST., 500,
600 Special syndicate operations respon-
sible for these alterations. and the technical
position of the money market is not injured
Instead of declining after the publication OF
another bad bank statement, the stock market
continued advancing buoyed up by the remark
able movement in St Paul Wall Street is only
just beginning fully to appreciate the meaning
OF the big wheat crop in its effect on all branches
of business. and consequently on freight trafnc
The sixty most active railways closeu dt IL he"
high record of SOB T3. net gain of 81 30 for
the week. while gas and traction stocks rose So
each
Improvement in textile lines is more pro-
nounced. especially in the long dormant cotton
goods division. Greatly exaggerated statements
have been made regarding the extent of print
cloth sales at Fall River but undoubtedly a
more liberal movement has occurred than at any
time in recent months. and there is less con-
gestion at the mills. Sales of brown goods for
China continue to expand and this item of ex-
port trade promises soon to regain the ample
proportions enjoyed before hostilities began
Distribution of dress goods and bleached cottons
is facilitated by the growing impression that
quotations have reached bottom. and the steadi-
er throughout :he manufacture is reflected
in the raw material. which has held up stub
bornly in the face of much news calculated to
cause depression. Receipts of the old crop
coming forward in exceptionally heavy volume
for the season. and the condition of the growing
crop is steadily making up losses through late
planting and early damage. Even If current
prices maintained however, it is doubtful
whether planters will find this as profitable as
the preceding crop owing 20 the greater expense
entailed.
While in the market for woollen goods gains
are less conspicuous than in other leading textile
fabrics. definite progress is being made Mills
are not so generally idle. and there is less dis
position TO wait for actual contracts Raw ma
terial is purchased and goods manufactured
in anticipation of requirements next fall and
winter In mems heavy weight woollens
and worsteds orders increasing with bust
most active in staple lines. where there is
a tendency to frmer values. Activity is not yet
sufficient To bring better prices for raw wool,
md ba cttu Is
factory. Many growers unwilling to accept
current quotations. but a material reduction in
stocks seems the only remedy. Shipments of
102 JI2 cases of boots and shoes from Boston
make the years total 11I.s1S larger than that
OF 1900. which in turn far exceeded all earlier
movements. Shops are we'll occupied at the
East. and reports from other sections Of the
country equally encouraging.
In iron and steel the situation is somewhat
unsettled. Finishing mills are working at full
capacity In the endeavor to fill contracts due
July !. and IT Is difficult TO find a maker who
will attempt prompt delivery on new business
Billets are in great demand from concerns that
require small lots to close up work on hand
and these sales foot up a considerable total
Structural material moves freely. and I'm plates
and beams there is sign Of weakness but
wide differences OF opinion expressed as 10
the amount OF orders hand beyond the end of
the month. II published reports OF pig iron
output and furnace stocks can he considered
any accurate criterion. there is no reason to
expect duness in this industry. With the i'm
provement In furnaces and consequent cheaper
ing Of production the number I'm blast has been
reduced from 296 to 90, while the weekly out
put has increased new record of 3115O3
tons. Nevertheless. furnace stocks have steadily
decreased from s7o5S1 to 4O7. 723 tons during
the last eight months. Contracts for 200 900
tons OF Bessemer pig have just been placed at
unchanged prices, and SIS % is quoted at valley
furnaces on new business. Forge and foundry
iron has also shared I'm the increased activity
Coke is naturally i'll brisk demand and prices
are we'll sustained, despite an output close to
the top record each week: Anthracite coal sells
readily. and higher prices are expected on July 1