New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-01-29
q satisfactory revelation Of his motives is now
precluded by his death.
MONEY! AND BUSINESS.

q
dav when the average for the sixty most active
railway shares closed just short Of Sl2l. MOI
withstanding the fact that the large expaiis'o,
of loans attending the advance in securlueS no.
failed to disturb the money market. WHO" "
tending toward a slightly easier POSITION ''iN "
spite OF the absence OF any railway or iluu''','
incident of a kind to check the advance ''i
rest of the week brought an Irregular an
slightly lower market. whether 1t was true oi
rot the report that large operators hAu u'i-
loaded their holdings was undoubtedly the most
notent influence with spectators IN general
u the strong interests were getting out OF the
market II was a good time for the smaller trad
ers TO take their profits. vet the average ue-
rIines did not indicate a reckless scramble !"
unload stocks while I'm many cases there were
evidences Of good demand and powerful sup
rort Anaconda. Reading and AmaigaHla'eu
had led in the preceding advance. so thaI II was
natural that they should decline most Sharply.
Tho attitude Of the London market was one OF
suspicion. little inquiry appearing TOT Amer
shares. while profits were taken in many IN
stances.
4 further fractional decline made the average
call money rate for the last week about Az per
cent while time money was placed at IA 10
= ner cent The money market Is now IN d
wholesome position, returning a falr pronI "
the banks and providing no artificial influences
to attract funds from elsewhere or to retain
those already here. The New-YOrk market Is
also more nearly on a parity with the leading
European financial centres. and funds may De
expected to move about in response TO natural
, influences. On this account it has been found
desirable to ship gold to South America ana
Mexico: in the latter case presumably in pay
ment for Mexican silver coin purchased by the
French government Cash has been transferred
tba aCfd CT ub-TT
urv and a normal movement has come from
interior points. while exports of gold TO Europe
were averted by fluctuations in the Paris cheque
rate on London when shipments seemed una
voidable In the foreign exchange market de-
mand for remittance was met by a fair supply
of commercial bills, but regular operations were
not large. the chief interest being provided by
speculative transactions
General trade conditions continue at about the
most satisfactory position ever attained. despite
the drawback Of erratc weather. which cur
tailed retail dealings in seasonable merchandise
in many parts of the country. and in order to
avoid carrying over large stocks merchants are
holding clearance sales with good results. Anx-
iety regarding the agricultural outlook is relieved
by statements from respected farming authori-
ties that no serious harm has been done thus
far, but wagon traffic in the interior shows the
effect Of impossible roads at a time when the
movement should be very heavy The market
for wool also hesitates. several declines oc-
curing in domestic grades. while the London
auction sale suffered postponement because OF
fogs. On the other hand, real estate and build
ing operations show the favorable effect Of an
unusually open winter, many undertakings that
were planned for spring being already well
under way. This heavy consumption. together
with the difficulty experienced in getting out
new timber because Of the inadequate supply of
snow, threatens TO produce still higher prices
for lumber. Under-consumption Of anthracite
coal renders strife at the mines less probable,
but the soft coal miners are endeavoring to Sc
cure resumption of the wage scales in force
beiu-e the last reduction. while shorter hours
an age limit Of sixteen and several other con-
cessions are demanded Of the operators.
Holders Of cotton options were evidently dis
appointed by the official statement showing
99SSOOO bales Of cotton ginned up to January
Is. heavy liquidation Immediately producing q
sharp decline I'm the level Of prices Although
I'm other years the portion Of the crop still
to come forward averaged only about per
cent IN view of the late start and the concerted
effort to hold the crop back it is generally
agreed that addition Of about 10 per cent
would be more nearly accurate for the current
season. On this basis there is prospect of about
ll'OoooOO bales, which. with the heavy stocks
carried over. removes the danger Of famine con-
ditIons and makes It less probable that the
proposed artificial price of Is cents a pound will
be attained. Incidentally. the past week has
demonstrated that foreign spinners reduced
their purchases, with the average price at South
ern seaboard cities only about liz cents
Wheat also declined moderately with little ami
nation in the speculative markets and unsatis
factory dispatches from Northwestern eo,,r
mills which preferred 10 reduce output rather
than quotations.
Manufacturing conditions do not share Tho
irreguarity that IS noted in retail trade az ,orl
Is now being done on lines for spring distrib,,
ton' In the magnitude Of which confidence "a
mains unshaken. Reports from the textiIe in
dustrles are particularly encouraging the
decline in price Of raw cotton caustrr- No a.,
turbance at the primary markets yvbiob O..
crowded with buyers whose depleted stocl,s -.
be replaced. This eagerness for rror,r. -,
ment prevents any serious effort To obtair Gov,
cesslons in prices on spot goods. although tbero
Is more discussion regarding contracts for Az,
'ahI uehVery. As manufacturers are eouauy
stubborn on this point comparatively LITTLE brsi.
ness is arranged for future shipment. New, 1I,o.
OF "ooiIens are held very steady IN view oF ,ba
certainty that larger stocks will be carried oyar
IMAM was expected. Increased receipts Of hides
caused fractional declines, but leather rpIad
steady and footwear factories obtain fpu 80
mons on 'he large volume Of business that ia !
being placed in the Boston market bv v,.i,tr,
buyers a further liberal tonnape ~ ~ t--e
Is under negotiation for delivery DURING tba
second quarter 10 the leading interest
"
The Emperor OF Germany is reported to have
Of