New-York tribune., 1901-09-16

in case of stress: but the supply of bonds out
standing is by means excessive for normal
requirements, and purchases by the secretary
force I'D prices to such extent that the opera
tion is by no means profitable to the Treasury
with foreign exchange close to the gold import
ing noiut a more satisfactory solution of the
problem should through shipments from
Europ. August foreign trade figures emphasize
the fact that our credits abroad steadily
accommodating. every class of staple products ex-
ported except mineral oils. showing gain over
last years shipments. Breadstuffs alone In
creased S9444 O59 despite the practical cessa-
ton of corn exports. Prompt payment OF mer-
camille obligations at all interior points, except
a few places at the South shows that money is
abundant throughout the country and sufficient
for even the exceptionally heavy fall trade in
progress The settlement of the steel strike will
be quickly reflected in the accelerated movement
Of merchandise, less interruption to buhdlns
operations and more money put in circulauoh
by the liquidation of numerous small accounts
with trades people.
Manufacturing industries experienced week
Of marvellous progress. In the iron ana steei
region there was less interruption from the
strike as more applied for work and largely
augmented the producing capacity. Consumers
connected eagerly for the limited stocks of fin
ished steel and II was noticed that In branches
unaffected by labor controversies there was
more than a normal demand. Orders nave peen
placed for deliveries far into next year, espe-
cially for steel rails. of which an unusually
heavy consumption is evidenced by the early
placing Of contracts. Structural material goes
forward freely, and the inadequacy Of railway
facilities is frequently cause for complaint. Re-
vival Of trade in Bessemer iron at Pittsburg is
encouraging Pig iron output is not materially
reduced the closing of four large furnaces be-
ing partly Offset by new ones going into blast.
Furnace stocks have not become burdensome
through curtailment of consumption. The Iron
Age" reporting decrease for August OF lO2o3
tons Coke output in the Connellsvfle region
increased 1675S tons the preceding week.
and S5.640 tons over the corresponding week
last year The Improvement in hard coal is
more striking as about 12o,OOO men were idle
a year ago.
Revival In the cotton goods division Of the
textile manufacture pronounced. Buoyancy
In the print cloth market. with sales on the basis
of three cents for regulars. gave rise to many
extravagant statements regarding the volume
Of transactions. but conservative estimates place
the sales at 100000 pieces. and undoubtedly
more business would have occurred If sellers
had not insisted on full prices Fall River
manufacturers We're reluctant to undertake
January deliveries. at best figures. and the
situation was more encouraging than at any
time tnlS season otneT STAPLE COttOHS were
strong, and jobbers did large business in dress
goods No setback occurred In woollen goods,
manufacturers having orders far ahead and
holding firmly to full values. Inquiries in
creased for material. and unusually
vigorous movement is only prevented by the
strong views of dealers Shipments from Bos-
ton on old orders are enormous. exceeding those
of the preceding week by two million pounds.
and for the year thus far the gain is 10 per cent
over 1900 OF all branches OF manufacture.
however footwear has enjoyed the most whole
some progress Factories striving 10 make
deliveries I'm season. but buyers continually COM
plain OF delay Further advances recorded
I'm leather.
Lower official estimates OF wheat and corn
crops were not effective in supporting quota
tions. The condition on September ] is consd-
cred indicating wheat yield Of 644. S33.oOO
bushels, and :,35 093 900 bushels of corn. Trade
experts disagree with the department, and no
prediction of less than T0o.oO0.00O bushels Of
wheat meets with favor. Rather more than
double that quantity OF corn is the unofficial
estimate. Foreign buying OF the minor cereal
is reduced to about half a million bushels week.
ly by high prices but shipments of wheat are
more than enough TO make up the difference,
notwithstanding the light outgo from the Pa
ciic Coast. An unusually liberal yield is being
harvested in Oregon and California. but the
strike still retards Its movement out OF the coun-
try. Western receipts of wheat are increasing
to remarkable figures last weeks arrivals ex-
ceedng those of both 1900 and 1899 by 25 per
cent. Port receipts OF cotton thus far light.
as was assured by the lateness of the crop. 1t
is also probable that the new crop will not be
marketed freely. owing to wide distribution of
advice to hold back for better prices. Exports
were much heavier last week than year ago.
which is easily explained by the difference in
price of SIT - a bale.