New-York tribune., 1901-11-25

.ouantity now, what will happen in the season
"of less favorable trade balances" This IN
eenuous query failed to produce the desired ell
too+ however because large financial interests
are not ignorant of actual conditions Gold has
gone out because foreign investments proved
attractive to American capital, because ,hlgh
nrices brought home foreign holdings OF our
securities because interruption to gold mining
in South Africa by the Boer war reduced Euro
nsan supplies and produced a strngency in
London and Paris that striking in compari-
son with monetary conditions III the Unlteo
States where mines were active and recelpts
heavy from Alaska. Questions OF trade balances
did not arise. But the international position OF
this country has been changed to an extent that
will be appreciated when the annual payments
of interest abroad are found to be heavily re-
duced and when other nations are sending large
sums hither dividends on American capital
recently invested in foreign railway, govern
ment and municipal bonds. In the face of firm
rates for money, threatening attitudes Of West
ern States regarding the new railway deal.
strike and other minor influences, stocks devel-
oped much strength and closed near the highest
point on record for the average Of the sixty
most active railways.
Staple products have also commanded most
satisfactory prices from the producers point OF
view, and there is much confidence in still fur
ther advances. With at the highest point
for many years. there might be fear Of reaction
were 1t not for the eager demand at the West
by raisers of live stock, who find profit in feed
ing the cereal freely, owing to we'll sustained
quotations for meats. Outside business mas
ceased to be a factor. exports reaching only
fraction of the movement in other years. Pork
products were sharply advanced and held most
of the gain. despite liberal receipts Of live hogs
at interior cities. Poor weather conditions for
L,l {nt,, fp6g
by phenomenal exports. which since July have
amounted to 10 per cent more than last year
Foreign shortage is holding prices three cents
higher than last year in the face of enormous
receipts that would be still greater if cars were
available. Low stocks at the seaboard curtalled
Atlantic exports for the week, but the Pacific
movement far above last years. Trade
conditions at the South somewhat less sat
isfactory than elsewhere account of the price
of cotton. which is pa cents lower than year
ago. The months exports promise largely to
exceed last years in quantity. but the difference
in price may make the value smaller. Port re-
cepts are heavy and the late crop is now NOV
ing freely, yet there is evidence that the
yield will equal estimates abroad, where there Is
a natural interest in holding prices down
In the leading branch of manufacturing there
is every indication that requirements have far
surpassed the most sanguine expectations Steel
mills turn out the nnlShed product as 1aSt as
facilities permit, and the demand for bars and
billets is greatly in excess Of supplies. Pig iron
is in such request that deliveries this year COM
mand a premium. and a general advance has
occurred at Southern furnaces. Many fires have
gone out in the Pittsburg region from want OF
coke, though the s1mine is less serious and
production in the Connesville region attained
another new high record for the week Of 243,i36
tons Tin was sharply advanced by low sup
plies. which will soon be augmented by the ar
rival Of vessels en- route. Paper mills and glass
factories have a busy season in prospect. Re
cent record breaking purchases Of wool are fol-
lowed by enormous shipments from Boston last
weeks movement reaching 7.742,1 119 pounds, the
largest Of the year. Heavyweight woollens are
in great demand, and per cent advances in
price are paid. Yarns strong, and knit goods
find a ready market, Good prices are expected
at the London wool sale which opens tomorrow
Cotton goods were rendered dull and unsteady
by the unexpected cut in prints. but orders have
begun to appear and confidence is partly re-
stored. Exports of brown sheetings and drills
TO China have reached a larger total. Eastern
shoe shops shipping at the rate of about %
per cent more than last year, and new busi
ness there is usually advance in price. AT
all points there is prospect OF full time during
the entire winter. work on spring shoes being
already in full swing. and at the South num-
Der OF new factories projected. Well sus-
tained prices for leather follow low stocks. but
some reaction in hides Is recorded.