New-York tribune., 1901-02-11

five most active gas and traction stocks have de-
clined 81 since January 1. Bond dealings
| reached phenomenal total for the week. with
| great activity in Wabash debentures. Special
| operations brought high record for loans.
! and in the last four weeks the gain reported by
the associated banks amounted TO SSi2oIOOo
| while deposits increased S1O9.25I,1OO. During
| this phenomenal expansion the loss IN surplus
| reserve was only SaO35475 February begins
/ with indications of much better foreign trade
| balance than last years. imports in two weeks
at this port falling So, ,T93, ,619 or more than %
per cent below the figures of 1900. while exports
| are steady here and the outward movement Of
| machinery agricultural implements. railway
| equipments. etc, promises good returns from
other ports.
Actual business in iron and steel manufacturing
is not interrupted by the great consolidation
pending. Heavy orders for both domestic and
foreign consumption Of steel rails have nat
uraI effect on the price of billets. and SO many
bids at the present figure have been refused that
it is safe to consider an advance on new business
assured Bessemer pig has also attained bet
ter position, and the enormous demand for coke
has increased Connellsville operations 10 about
the top record Cut nails followed the rise in
wire products. and structural forms are in such
request that higher level would be no sur
prise Those who a few months ago were agitat-
ing for reduction in the price of steel rails now
express the hope that there will be no advance.
Pittsburg mills far behind with orders
that customers cannot dictate terms. and bids
below the regular lists are not considered. \
strike among Ohio limestone quarrymen was
the only disturbing element, and this was
promptly adjusted Coal production is enor-
nous. but the demand is brisk and prices high
er. while refined petroleum rose to $50 cents
New-EngIand shoe shops have large orders
and numerous inquiries. Shipments from Bos-
ton are smaller than year ago. but the situa-
ton is much more satisfactory for buying was
then diminishing and stocks in retailers hands
heavy of goods purchased az high prices. At
present there is evidence of scanty supplies In
the urgency Of orders Conservatism is still a
feature. for buyers take slightly cheaper grades
rather than pay the small advance demanded
by makers. Store trade is materially helped by
stormy weather, and at last there is a normal
winter demand for rubber overshoes. Leather is
in better request. but hides are quiet and for
the third consecutive week there appears de-
cline I'm the average of quotations at Chicago.
Sales Of wool have again increased aggregat-
ing 5.902 500 pounds at the three chief Eastern
markets and in two weeks the total was 6S per
cent larger than IN the fortnight preceding. This
would seem TO indicate striking Improvement in
this industry. yet reports from the mills are not
encouraging. Larger transactions were partly
due 10 forced sales OF wool for the account OF
firms recently failing. and nearly all recent pur
chases were made at the buyers terms. More
over Western holders see the new clip approach
ing with large stocks OF the old yield still on
hand. and no longer insist on impossible prices.
Hence the accelerated movement Is not a re-
fectlon OF increased needs among manufact-
urers but rather an obvious case OF bargain
sales
Spring lines OF cotton goods are offered at
prices which astonish purchasers and II VIII
soon become evident that retail sales cannot he
effected in the usual volume This brings up
the question Of consumption that has been dis
cussed at length IN this column. Even after the
recent decline to 9s! cents for cotton. IL Is
still at a high point compared with recent years.
and Il is unreasonable 10 expect that the re-
quirements will not decrease. Sales OF fertiliz-
ers and ploughing in Texas are proceeding in
manner that indicates preparations for a heavy
acreage. Since the crop season opened 6s0. 500
bales more cotton have come into sight than
year ago. while Northern spinners have taken
81 .941 less. and Southern consumption also de-
creased. Total exports have been 561.11S bales
larger. hut the outgo OF late has been less salts
factory. Other staple products are quiet. Wheat
declined. as heavy snow fell where seed in the
ground needed protection. and freer movement
at Argentina and Australia showed that the new
crop was coming forward literally. Both wheat
and corn are exported In larger bulk than
year ago, which gives an element OF strength
Pork products share the strength OF corn, but
eggs and butter are surprisingly weak consider
ing the weather in this vicinity Rurnors OF
agreements between reiners give sugar a firm
tone. and coffee steaded after the statement OF
visible supply appeared.
rrba Wo,o,