New-York tribune., 1906-10-01


heavy imports Of merchandise have maintained
o,,ston,s receipts at a high position. and tpo
available balance In the Treasury is steadily In
creasing. while gross stocks of gold have at
teined the remarkable sum of SSooOO0OOo.
With nonotonous unanimlty trade reports
from all over the country continue TO testlIy
to the greatest prosperity ever known. Almost
every statement shows gains over the oorre-
spending period last year. whether II Is IN the
volume of Clearing House exchanges railway
earnings or reports from individual INDUSTRIES
Even the persistently high money market anu
its retarding influence on payments are regaroeo
with equanin,ity that can only SIGNIFY ul-
bounded confidence in the future Manufact-
urers receive orders for goods TO be shlppeo iar
into next year. and capacity of mills and rae
tories is extended in order to meet the greater
requirements that are confidently anticipated
Complaints regarding the scarcity OF laocr eA-
tend to a greater variety of occupations anu
prices of commodities show the strength that
might naturally be expected when wage earneFs
are fully employed. An official announcement
promises that the coffee valorization scheme VIII
become effective Immediately. sufficient FUNDS
having been raised to take 100000 bags out
of the market until the end Of 1907. II has
evidently been found necessary to make some
change in the original plan; instead of Ger
-
the leading coffee houses IN New York. Havre
and Hamburg.
After a further small decline, which carried
the average of middng upiands to 81 90
bale below the position at the corresponding
date last year, the cotton market steadied and
the undeTtone of strength seemed to have a good
basis in the heavier exports and improved con-
ditions among domestic spinners. Uncertainty
regarding the extent of damage by the storm
caused further advance late in tho week. I'm
doubtedly the South is in a better position than
ever before to delay marketing the cotton crop,
but. if the yield should prove to be as large as
100000 bales. current quotations are quite as
high as should be expected. A similar disposition
to delay marketing the wheat crop is the chief
influence of strength at the present time but
it also has the undesirable effect of ourtailing g
exports, receipts at the seaboaTd are fire.
quently found inadequate to meet the demands
of foreign shippers. 1t is to be hoped that
nothing will be done to reduce exports Of either
grain cotton at this time, when our debts
abroad abnormally heavy and every COM
mercial bill in the foreign exchange market I'M
proves the position of the United States IN its
relation with creditors abroad
Distinct improvement has occurred IN the cot
ton goods industry. orders coming forward much
more freely in the primary markets, and COM
taking the place of efforts to secure lower
prices. This is a condition that has been fore
Shadowed by the low position to which stocks
have been allowed to contract: and. as many
of the mills have been compelled to reduce out
put by the inadequate supply OF labor. 1t will
be some time before stocks of goods will reach
normal proportions. The woollen industry is
now the only one of great prominence that fails
to respond to the general prosperity Yet quo
tations for wool well maintained, results
at the London auction sale being all that could
be desired. Footwear factories are almost ready
to begin work spring shoes. for which they
have received large contracts. but during the
next two weeks attention will be directed to
closing out the unfinished fall and winter busi-
ness. and the great strength Of materials main
tains prices at the top point. 1t is impossible TO
secure concessions from tanners IN any OF the
staple lines Of leather. and the domestic hide
market has the support of a vigorous demand
from Europe. Further advances have occurred
in quotations of iron and steel.