New-York tribune., 1904-10-31

A~,s e-~. s.~ ,,.~,hl. sfrect on speculation, the
outgo Of gold can have no disturbing thnuen~S
because supplies OF the yellow metal III e''i"
country were never larger
Outside Of the financial district results OK tns
week were most satisfactory. Bank exchanges
end railway earnings continue TO make iA'o'
able comparisons with last year, ene the move
ment OF merchandise Is expanding in heaithfui
manner. There is not the probability OF sucn
reaction as occurred IN Wall Street. Tor iegiu-
mate business has not expanded tmmooerateiS'
nor is there any evidence OF innation OF recA-
less accumulation of supplies Conservatism u
still the rule. retail dealers ordering only such
quantities as may be needed In the near futufe'
while wholesalers and jobbers operate In much
the same cautious manner. The result is that
manufacturers are frequently unable to ship as
promptly as desired and at many points there
is complaint regarding delay in transportation.
Each week there ts a little Improvement In the
promptness with which commercial payments
are made. but renewals still frequent and II
Will be some time before collections are reported
as entirely satisfactory. Holiday goods have
begun to move and healthy conditions arc re-
ported by Providence jewelry manufacturers.
but 1t is still too early to look for any pro-
nounced activity in these lines.
Irregularity and activity noted In the mar
kets for the great staples. Cotton has at last
expected to operate freely. Spot middiins up
lands at this city were quoted below 10 cents
for the first time since the crop year opened.
and some recovery In prices Of options was not
surprising. nor does 1t signify that the crop
will not surpass all records. One Of the best
authorities has been making a trip through the
South. and telegraphed that his estimate must
be Increased to 11.500.000 bales. Sons con-
fusion has been caused by the Census Bureaus
report Of the amount Of cotton ginned UP to
October Is. but these figures cannot be used as
definite indication OF the ultimate total. and
It is probable that low estimates based on these
figures will prove erroneous Wheat has been
particularly sensitive to the foreign complica-
ton because OF the fact that England will have
10 rely very largely upon Russia for imports OF
wheat unless estimates OF this nations surplus
should prove much too low. Domestic markets
responded to the advance abroad and nuctua-
tions here became very erratic. Much wheat on
the Pacific Coast has been purchased by interior
mills but thus far only small proportion has
been moved.
News from the great manufacturing centres Is
almost uniformly satisfactory. Footwear ship
ments from Boston for the last week were larger
than a year ago. and. In addition to ample cur
rent business. factories are receiving good orders
for spring shoes Leather and hides have ad-
vanced still further. q noteworthy event of the
week being the Japanese purchases OF leather
Woollen mills making favorable progress
the demand for goods being fully maintained
and manufacturers are constantly In the market
for raw material While only a few grades Of
wool quotably stronger. the whole market
has much hrrner tone FAN River cotton mills
are still closed. but ii is probable that work
will be resumed very shortly. and in the primary
market for cotton goods the balance OF power
Is now with holders, who are compelling pro-
spective purchasers TO make satisfactory terms
This is a decided reversal Of the position that
has so long prevailed. Quotations Of pig iron
have advanced moderately. and furnace opera
tors express the opinion that further advances
are imminent They hesitate to accept orders
for delivery next year because Of the uncer-
tainty regarding iron ore and coke