New-York tribune., 1901-05-27

sociated banks. which have reduced loans nearly
| $40 600 600 in two weeks and advanced the
| plus reserve to the highest point since Febru-
airy =.
Clouds are not entirely missing from the tex
tile sky. In fact, the situation as to New-Eng-
land cotton manufacturing especially the print
cloth division, is more gloomy than ever, Ar
rangements are being made for keeping spindles
idle beyond the original date, while a movement
is on foot to establish lower wage scale. AL
though the condition of the market and the cost
of raw material apparently warrant such action.
it will hardly meet with ready acquiescence
among the hands, particularly as labor agitators
are exceptionally aggressive just now. Despite
hesitation in the market for goods. cotton
Is stubbornly firm. The July option has attract
ed some attention. rumors of a campaign against
the short interest being sustained by the ease
with which that months deliveries are ad-
| vanced. More than nine and half million bales
have come into sight and the large visible sup
ply gives assurance of freedom from famine con-
ditions until the crop begins to move.
Regarding woollens, there are more encouras
ing reports. though Improvement is still con-
fined to the staple lines which exhibited more
life a few weeks ago, and fancy woollens and
worsteds are still neglected Better movement
of clothing and placing of orders for fall goods
buyers into the Boston market for raw material
Inquiries for wool. however. were not sufficient
to stiffen quotations. Another week of excep-
tional activity among shippers of footwear from
Eastern shops made total forwardngs in three
weeks 3OS 116 cases, against pos 0S2 in the same
weeks of 1900. The increase of 20 per cent was
not much the result Of unusual activity at
the factories. which have been fully employed
for some time. of the opportunities of buyers
to secure goods already purchased but allowed
to remain in first hands until required. In the
betting market the leading concern is rapidly
extending it's control and appears TO have Sc
cured practically all the available butts
Unless hampered by unreasonable demands of
employees, the iron and steel industry promises
to make a memorable year as to production 1t
is frequently noticed that after many statements
have appeared to the effect that consumers of
some particular class of goods have contracted
for their entire years needs supplementary
orders of considerable size are reported. Annual
requirements no longer be measured by last
years standard. Expansion Of trolley lines
makes record in demand for light rails,
prosperity on the farms brings unprecedented
buying of agricultural implements. while the
steadily increasing movement of freight has
caused calls for railway equipment TO surpass
earlier figures Coke is in great demand and
prices hardening. the Connesville region
producing at the rate of more than 100000 tons
weekly which was a high water mark not long
ago. Petroleum declined 10 500 cents against
900 carly last year. Among the minor metals
tin has been the feature advancing with Lon
don TO % cents.
Breadstuffs tend to quiet down as the new
crop year advances with indications of ample
production. Argentine shipments of wheat con
tinue much smaller than last years. and Ger
many promises 10 be a factor of Importance in
the foreign demand. In the face of prices far
above those prevailing year ago. exports from
this country for the last week nearly
third larger than IN 1900. Corn has not
tained popular favor abroad since the cash price
reached 30 cents. and exports are only about
half those of the same time last year. Opera
tons in the May option at Chicago were very
heavy. but after the short interest had covered
most Of the outstanding contracts and the arti-
fetal demand removed the price dropped
Is cents from the top. Manipulation in this
case was more successful than most efforts to
control one OF the great staple products.