New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-12-19

A large consignment OF currency went 10 tine
Pacific Coast. and all the gold bars IN inc
Assay Office were engaged for snipiiioh'
abroad, while a considerable amount was
taken in coin for foreign account While IL Is
true that rates OF foreign exchange shi1ted IN
the direction of profit for shippers, IL ls sun
probable that the last few exports of gold were
accomplished only special terms. dictated
by the urgency CO requirements abroad. Gross
gold in the government vaults was drawn down
to S700O000O0 but there still appears to
be sufficient supply OF the yellow metal to
prevent any anxiety. Meanwhile the month OF
December has brought slight balance on the
right side on regular Treasury operations, re-
ducing the deficit for the fiscal year to ga
100000.
Holiday goods still rnonopolze attention IN the
various retail markets. The effect Of weather
upon business has been very different IN vari-
parts of the country. but the whole there
is a seasonable movement of heavy weight ap-
parel, fuel and similar lines, and the volume
is distinctly larger than for the corre-
spending time last year. which is clearly
shown by the large gains in bank ex-
changes through the various clearing houses
At this time of the year and during the next
few weeks there is usually much interruption
to business through stock taking and invento-
ries and repairs of machinery; but owing
to the unusual quiet that prevailed early
in the year it is not likely that conditions VIII
call for much attention usual on these
accounts. and there is every indication OF a
large volume of trade in 1905. vigorous efforts
will be made to push work rapidly and make the
holiday season as short possible. In view OF
the fact that there has been good deal of idle
durine the year. full occupation will proba-
bly, be welcomed by all classes OF wage earners.
Reports from Fall River suggest that the con-
troversy there will be settled shortly, and aside
from this struggle there is comparatively ittls
friction between capital and labor.
A little better movement of wheat at the At
lantio seaboard indicates that prices declined
low enough to attract some foreign purchasing,
but the domestic situation has not improved.
Northwestern flour mills grinding below normal.
and there is much complaint of the accumula-
ton on railroad docks and IN storehouses.
While the price has declined very materially
from the top point of the season. there is still
such wide excess above normal that
domestic consumers postpone purchases as far
as possible. AS dealers have stocked UP sufi-
GENTLY to carry them over the holidays, the mill
ing situation cannot be expected to change
until next year. Gradual improvement in corn
expects is not sufficient to neutrallze the effects
Of rapidly expanding receipts. and the tone Of
this cereal is also unsettled. Provisions are
packing at the West averaging about 100000
head weekly more than in 1908. Spectators
who were long OF cotton have tried to persuade
planters to hold on to their CROP but the time
Is not propitious. because holiday money is
needed. Some recovery from eight cents may
occur, however. because the decline proba-
bly, carried to excess. as is usual In such cases.
Another week has greatly improved the man
ufacturing outlook. except where the elements
interfere. Dealers IN most lines are preparing
for a large business next year, which results IN
great activity at mills and factories. AS a rule,
woollen mills have sufficient material to
carry them several months, but the prospect for
higher prices is such that manufacturers
constantly in the market attending to future
needs. Cotton mills at the South are generally
well occupied. but Fall River operatives are re-
turning slowly, and buyers Of cotton goods are
tempted to wait for still lower prices. Fewer
contracts are being received by New-England
the small advance In price made necessary by
the recent change in raw material Not only
were pig iron producers able to maintain tho
former advance but quotations have gained so
cents more and large purchases are recorded
by the leading consumer. Mills that have been
idle for many months starting up. and the
industry is in a better position than at any re-
cent date