New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-22

-.v,,as will be called upon for over SbOUoVoV
,n connection with the Baltimore fire. currency
continues 10 go South, but as an offset japanese
,o1d e received at san Francisco Foreign
money markets are unsettled by the war IN
nrogress and possibilities Of another IN the
p.1l,ore These disturbances weaken European
seorri+fes even British consols showing the
effect Of liquidation. Nevertheless, both the
1,.,,, Of England and the Bank Of France gained
:, r,,d holdings during the last week. and are
in a strong position TO Withstand pressure
II IS at last possible to chronicle Improvement
IN rha domestic trade situation, and II Is par
tic,,1arlv encouraging to note that business act
,,ou,, evrands IN the face Of the elements which
have been singularly unprOpi;ious-a great
forairn war which VIII probably enhance the
cost of living in this country If continued ana
the customary uncertainty Of a Presidential
wear Stocks Of merchandise have been allowed
10 run very low at many interior points Judging
by the eagerness Of buyers to secure immaculate
shipment. and spring trade is opening unoer
much more favorable circumstances than seemed
possible at the close Of 1903. Buyers are now
in this market quite extensively as In pre-
vious years and. while the orders placed are not
large individually. they are numerous. Footwear
ts also in brisk demand, and other staple prod
ucts move freely household utensils. furniture.
hardware and similar lines receiving share OF
attention I'm addition to wearing apparel and
fuel which are stimulated by low temperature
II IS also worthy Of note that failures are fewer
in number and smaller in amount of Liabilities
than at the same time last year. This encour-
aging sign has been missing for some months.
At the leading exchanges grain and provisions
have responded TO war influences. quotations
rising TO much the highest point OF the season.
Wheat touched the highest price in FIVE years,
and pork products surpassed all figures since
the failure Of the corn crop. Speculation
became active. and a further supporting
factor was the fear Of injury to the grow
ing winter wheat by the severe cold and In
sufficient snow protection. While foreign in
huences may have helped to strengthen the
grain markets. It should be noticed that actual
exports for the last week were very small as
might be expected in view of abnormal quo
tations further reduction in freight rates
on grain was announced. The strength Of pro-
visions IS remarkable IN view Of the fact that
Western pork packing continues at the rate Of
100000 head more each week than IN 1903. The
decline carried cotton considerably lower be-
fore support was forthcoming. Exports have
AT last fallen much below those Of the pre-
vious season. and the visible supply IS smaller
than at the corresponding date in any year
Of the last decade. There IS reason for fairly
high prices In the statistical position. and I'M
less manipulation again produces sensational
quotations there VIII De a mar net lbE AZ lile
cotton available: but It VIII not be at 20 cents.
Less idle machinery is reported I'm the leading
branches OF manufacture. Cotton spinners have
increased production since the raw material fell
to a less inflated position. and the outlook IS
more favorable for a fair distribution OF goods.
The disposition 10 make forward contracts. how
ever has shifted from buyers to sellers, and
transactions that might have been arranged a
week ago are now impossible. In woollens there
ls fair movement az unchanged prices the
continued cold weather promising small stocks
IN the hands Of dealers at the end Of the season
and fewer bargain sales. 1t IS estimated that
footwear 70 the value OF SLOOOOJO was de-
f'royed in the Baltimore fire. and manufacturers
are receiving large contracts 20 replace these
goods. In the iron and steel industry there are
at last signs OF recovery. New business IS not
large. but Il Is Improving and the preparations
OF manufacturers indicate their assurance OF
larger demand. Only 30 per cent OF the blast
furnaces controlled by the leading Interest are
now idle. and pig iron f. being produced more
freely than 20 any recent date. some complaint
o. coke deliveries emphasizing the changed con-
dtious. Railway supplies and structural steel
are being sought. and quotations are held nrm-