New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-12


not Indicated any special pressure for transfers
TO either the South or West and meanwhile
gross soid In vaults Of the government mas
again risen 10 new maximum. The associate
oahhs reported good gain in cash and surplus
reserve. Leading European banks lost goia o''
VI piopo 'ioh 10 the contraction or loans ~
net result oeins somewhat weaker posi'o'
but British consols have recovered considerably
from the recent low point.
Iraoe returns for the United States continue
badly mixed. according to location. Particu-
larry bright news comes from Chicago ana 'he
Cehtai west and In the cereal centres 'heie
Is wholesome demand for merchandise
Household utensils. furniture wearing apparei
and provisions OF all kinds are purchased I'D
orally oy the small dealers in anticipation OF
a brisk demand when the farmers secure their
prohtaoie returns. At many Southern points
similar conditions exist according to the prog
ress OF the cotton crop and other staple tarm
prooucts But at many other points Iocai con-
ditions exercise an unfavorable influence IL
is notable at the large Eastern cities that un-
seasonably warm. and In some cases wet
weather seriously retards trade The seasons
iobbing trade has been almost completed. and
the years results will compare favorably with
any other This is a gratifying sign. since II
indicates the general confidence In continued
oStiNiey- bchHcIics IN some cases arc loi ~
but as rule manufacturers are making ship
ments promptly and the railways are able TO
handle the business Most of the labor difficult
ties are making progress toward settlement, es
pecially at Minneapolis -four mills.
Early in the week most encouraging period
of weakness In the leading cereals and cotton
gave reason to anticipate large crops and lib
eral exports. Subsequently the situation
changed very decidedly as to grain, both wheat
and corn developing considerable strength.
Threatening weather was the only apparent
reason for strength. and the promptness with
which foreign buyers lost interest indicates
their position. Estimates Of the total wheat
yield are still large. and good progress is being
made on the next winter wheat crop. but more
loss was suffered by corn. OF which there is q
disposition to expect less than previous predic-
tons Comparisons with last years figures Of
both receipts and exports Of are calcu-
lated to deceive. owing to the abnormaily light
movement a year ago. Meats weakened with
the early decline In corn. and were not SO
prompt to rally. which Is natural In view OF the
heavy receipts and liberal packing OF hogs.
Cotton is beginning to come to market freely.
the total movement making surprisingly good
comparison with earlier years. considering the
lateness Of maturity. According to some esti-
mates 1t will be necessary to escape frost until
the end Of this month In order to secure eleven
million bales.
Somewhat better conditions exist as to man
ufacturing, although there is still much cause
for complaint. Footwear stands far ahead Of
all other prominent Industries In the volume Of
output and steadness of prices. Shipments
from Boston alone for the calendar year thus
far have reached about four million cases.
while equally vigorous output is noted else
where. Hides growing weaker. but the
light supplies Of leather hold that article fairly
firm Wool is In somewhat better inquiry.
which is encouraging sign to the condi-
ton of the mills, but there Is no evidence of
liberal transactions in wooens, and worsteds
are still more quiet. In the cotton goods divi-
sion there is only moderate activity. mills re-
Stunning slowly and spinners declining to under
take contracts until certain of the price at
which raw material be secured. China and
India show very little interest In securing ship
ments. which withdraws element of sup
port from coarse cottons. Agreements to cut
down the output of pig iron about a million
tons for the last quarter of the year should
prevent the accumulation that was feared. and
give steadiness to prices. but at the lowest
point OF the season.