New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-09-20
WALL STREET AND EXCHANGES.

FOREIGN TRADINCi-Foreign houses we're not
factors IN the local market as arbitraEe transac-
lions impossible. owing 10 the fact that the
London Exchange closed.
COTTON NOV EMrNT According 10 The
Financial Chronicle the total receipts of cotton
for tho week ended SepteE.Ier Is reached 11".222
bales against = cE Lest week and ssh the previous
week kiuC tho totat receipts since September J..
1893. Isl ~ bales against 800 for the same
period Of 1902. showing decrease since September
I. 1913. OF 3Gi.0Z bales Reports from the South
indicate that rain has been general Jurtng
the week and that in Some districts alore the At
lantic the precipitation has b1en rather heavy
Picking has made good Eeadway. except where
interrupted b. wet weather. and the marketing OF
cotton has been more liberal scale. The tom
peraturc rather low toward Inc clos" of the
week. From sections Of Mississippi. Alabama.
Georgia and Texas there complaints Of further
deteriora ton I'm the condition " the crop.
AUGUST EARNINGS SHOW GROWTH.-''The
Financial Chronicle computes gross earnings nf
scvcuty-six roads for Aueust. 1903. al SI2JCJ151.
against ts6li1.C59 in August 1902 an increase or
,5.C9S.99s or els per cent. Speaking of them as a
whole. The Chronicle'' says that the gross earn
inEs or railroad transportation still show growth
and if it were not for the coincident large in
creaSes in the expense accounts the railroad sit
uatiou would he about as satisfactory as could no
wished. What gives peculiar emphasis 10 this I'M
provcment is that it has been made in the face ~
both 2 smaller cotton Increment i'm the South ana
y smaller grain movement in the West. on the
other hand. the anthracite coal miners strike ana
the strike the bitunlinous mines I'm West Ntr-
gtnia along the Chesapeake and OH" RAILWAY
which were disturbing influences in 1890. were alb
sent the present YEAR.
AMERICAN CAR AND FOUNDRY.-An officer
Of the American Tar and Foundry Company says
that there is truth in the report that some OF
the railroads have cancelled orders placed for
cars or that tho company is trying 70 borrow
money. The company is lending money. Tn re-
gard t. orders on tho hooks. it Is stated that on
September l the company had more orders on its
books than 1T any corresponding date in any year
since it began business With tho single exception
Of last year. 1t is pointed out that September Is
the duIIest month u the year. 9" far new orders
are concerned. and. notwithstanding this fact.
untitled orders aggregate upward ~ -'"p
cars besides large amount Of miscellaneous bust
moss.
CHICAGO. MIT.WAI- KEE AND ST PAJI--An
officer of the St Paul says that it is too early
10 speak as to ear shortage. The general move
meut of merchandise is excellent and quite as
large as last September. The volume OF business
in sight is just great Grain in the southwest
is moving freely. but in the Northwest IL is badly
DELAYED hv the wet weather. There is bound to
be some shortage Of cars. but to what extent is
prohIematical-
AMERICAN COTTON OLA Boston report says
that Notwithstanding statements that this year
the American Cotton Oil company would de-
clare no dividends on the common stock interests
Officially informed a. to the companys earnings
state that a dividend Of not less than per cent
may be expected December l.
RANK CIEARINGS.-Th total bank ceariESs
Of all the clearing houses Of the United States for
the week ended September 10 1881 $3.50.
against 81 449 gJ2.3C6 in the preceding week and
(, 251 7S2 06S the corresponding week last year.
WALL, STREETS ANCIENT HISTORY.-When
Wall street is depressed i'm spirit it STUDIES history
To- see If it cannot lind unusual reason for its
troubles and in its present searching of history it
finds that just thirty years the jay Cooke
manic occurred. while next week will occur the
thirty-third anniversary of the Black Friday panic.
Here indeed. are two good reasons for the current
peSsnism i'm the Street.