The Wall Street Journal from New York, New York • Page 4

TAGE 4.. THE "WALL STKfc)ET JOURNAL I WHEAT POSITION. i "The advance in English cables and The? reports Ironi India made the market In wheat. A moderate short interest among tho pit traders to bid up the prire in covering shorts, a little buying for the long account on small receipts at "primary centres, and rumors of large export engagements kept prim steadily above calk from the opening making a natural reactive movement io restore the balance of the slump on Tuesday. There was worn retardation in harvesting reported on the Pacific; Const as well as In the Northwest due to showers, but crop prospecta have seen little change in' a week ccording to th'e Price Current.

Apart from India foreign advices were generally favorable, and the report by way of Chicago that the wheat crop in that country was a total failure wos received with liberal allowanced for exaggeration as the renewal of similar ad ices from (Southwest Russia. The rumor of a large transaction at Chicago for direct export failed to be confirmed and was considered a shifting of positions rather than a bonn flde sale to Europe. The local demand in reported dull and very Tittle actual business if done comes to the surface. Clearances were again small, but for the week have 1 run np to about the figure of a week ago. The reported decrease in Minneapolis stocks and moderate primary receipts suggest a further small decrease in the visible supply for the week.

The short interest is pretty well worked out again, and outside buying has not yet appeared. There seems little In sight to lift the price above the already high level without an awkening of speculative demand which is apparently without incentive. THRESHING EST MATES. St. Paul, Minn, (special.) Measurements froin threshers of epring wheat in South Dakota and Minnesota are nearly all below estimates.1 From ill localities the yleld'averages 10 bushels, which is less than average of eight bushels on the acreage sown.

Frost did slight damage in North Dakota Monday night. Weather warm and favorable to harvest. NEW WHEAT GRADES. The new wheat which is arriving at Minneapolis is not grad ing very high. On the 5)th one car' was received which graded No.

4 Northern. On the 10th three carts arrived that were given no grade. On the 11th one car graded No. and one car No. 2.

On the 12th seven cars were received. Three of these graded No. 1, one was rejected and three were givn no grade. This grain came from Minnesota. NEBRASKA CROPS.

Omaha (special). Hot weather prevails in Nebraska, except in the eastern part where thunder storms are general. There is too niucTT rain for crops. St. Paul crop reports show that S0 of the wheat crop along the line has been cnt.

The cutting is nearly completed in both the Dakotas. There was local damage by heavy rains in South Dakota. OUR CROrF. Cincinnati (special). The Price Current says: Favorable for corn crop and position further improved.

Some weather discoloration to oats, but not serious. Little change in other crop features or market sentiment. Packing 280,000 hogs, against 315,000 hogs last year. CROPS AND OARS IN THE NORTHWEST. lAn authority in Great Northern tells us that while they could 'me more cars, if they had them, in moving the wheat, there is no car famine, and the situation is about the same as it is every year at this time There is a great deal of wheat to be moved ami Jhereare some people who would like to see the entire' crop shipped out in a day, or a week, which is manifestly impossible.

1 OUR BEERHOHM SPECI ALS. (Liverpool, 1.30 p. m. Wheat steady; Sept. 5s.

np Jd. (Corjuteady; Sept. 3s. np jjd. I London, 1.30 p.

ni. Wheat cargoes firm. India cancelling or trard sales. Options np. iReceipts of wheat at spring wheat centres 201,177 against 404,094 bu.

a year ago. Winter wheat centres 241,566 against 208,734 bu. last vear. I JiAverpool 4 p. m.

Wheat closed steady; Septus. np "Lfrom previous close. Corn quiet; Sept 3s. 3Jd. London, .4 p.

m.rWheat cargoes closed firm and quiet. Op Jlionsurther id. np. PKODUOE EXCHANGE CABLES. 1 iPark Wheat closed steady; Nov Feb.

20fr. 50c, adv. 5c. AFlour closed steady; Nov Feb. 27fr.

70c, adv. 5c. 'Antwerp. Wheat closed steady, dec. Jfr.

from previous dose. Berlin. iWhent closed steady; Dec. 135 marks, unchanged Jrom previous close. )t car lot receipts, wheat 66, corn 2S1, oats 413.

I Receipts of hogs at Chicago prospects slow, i Hogs at Chicago opened mostly 5 cents lower. Estimated receipts Friday 16,000. Receipts of wheat at St. Louis 62,000 bu. against 35,000 a year ago.

Minneapolis wheat stocks will decrease 700,000, against 917, 000 decrease a week ago. Primary receipts, Hour 34.371 wheat 532,743 corn 629.888 bu. Shipments flour 76,483 wheat 529,888 corn 680,731 bu. Clearances of wheat and flour from four ports equal 1.42,780 on. against m.H'.t a week ago; for four days 1,015,750 against 1,314,113 bu.

Dututh Minneapolis Chicago Tolal 1 Car lots: Winter wheat. Spring wheat Corn. Oats NORTHWEST RECEIPTS. i Aug. 17.

Last week. 1S9S. 1807. ...43 49 C3 15 .174 607 307 1.11 6G 38 101 311 714 521 457 CHICAGO INSPECTION. Total.

27 .39 .281 .413 No. 2 1 21 34 6G No. 3. 20 12 15S 303 Sliipm'ts. 6 15 Also shipments spring wheat 305,822 bn.

corn and 117,861 bu. oats. "7y Reported 15 loads wheat and 40 loads corn taken for export. Ex. 10.55 a.

m. Wheat opened strong and higher on advance in cables, reports of. reduced Indian wheat offerings and covering of shorts. No special feature in this country. Only moderate trade.

Coarse grain firm. Produce Exchange 11.55 a. m. Wheat firm on the strong closing cables and bullish sentiment of traders. Market very narrow and scalpers doing the business.

Prod. Ex. 1 p. m. Wheat dull but firm on small receipts and talk of some export business reported.

Rumor a million bushels taken at Chicago. i JProduce Exchange, 2.30 p. ro. The grain market was strong, )f specially wheat, on the advance in English cables, reports of crop (allure in India, small primary teceipts and rumors of a large export business worked through Chicago. Trade was of moderate volume principally scalpers.

Selling against calls checked the advance after the midday advance. Reports of rains in the Northwest, Oregon and Washington delaying harvest also had a stimulating effect. Hog products advanced in sympathy with other meats and grain. Corn and oats were strong on good cash Produce Exchange, 255 p. m.

N. Sept. wheat (curb) pots 768; caUs 77H Chicago Sept. wheat puts 70J calls 71J. NEW YORK PRICES.

Open. Hleh. Low. Close. Wheatr Sept 76J Ji 76 7Cia Corn 34 33 34 34b TRICES.

Jl Open. Low. Close, SeptV. 71J 71 71 .71 4a Corn Sept S0 801 30 30b Oats iSept. 19 191 19 .19 IVrk Sept 820 832 820 S27 BACK TO WORK.

1 Cincinnati (special). The miners at North Jellico, gone back to work, having effected an agreement with the orators, but 300 men at the West rineville mines1, near Mid vborongh, have struck for an advance in wages of 12Jc. IRON TRADa The Cieveland IronTrade Review says: Another week of heavy buying of foundry Iron for 'delivery In 1900 has parsed. Large contracts have been closed in the Chicago, Buffalo, Clove land and Cincinnati districts, and some furnaces have now booked much iron for the first half of next year that they prefer to take a breahing spell before taking on more. The Central and Western districts contiuue to be more active In providing for next year than the East.

The leading Southern interest has sold from 150,000 to tons for delivery next year, and in the past two days Advanced No. 2 foundry from $15 to 15.25, Birmingham. There is an approach toward equilibrium in pig iron production and consumption. The Aug. 1 estimnte of active blast furnace capacity was 267,672 tons, an Increase of 4,300 tons a week over July 1.

Actual furnace output in July, however, was reported slightly less than in June. Reductions of stocks in July were 27, 000 tons, plus 8,300 tons from warrant yards, and stocks reported to the Western Pig Iron Association, Aug. 1, were 153,000 tons. Consumption, Including exports, is apparently at a yearly rate between 13,500,000 and 14,000,000 tons, while the full effect of today's high prices will not be felt by ultimate consumers until next year, so that there is no sign of a haltin the a The capacity to produce Becsemer pig iron has been the eon trolling factor in the teel market. Bessemer iron is sold at $21 valley furnace, but Ihe market is inactive because steel companies have iron now due rhem that they cannot get, nnd are little disposed to buy for 1900 when they know that deliveries on iron already bought will run well over into the new year.

The output of steel works has been curtailed In the week by shortage of )ron nnd more will bo heard of this in the next four months. Some Bessemer has been sold in Pittsburg for shipment to a district long Independent of Pittsburg and valley furnaces. So fur as Pittsburg is concerned the scarcity of material seenix to be accented with each week. Steel has sold at $30 for Bessemer, and open hearth billets have brought as high as $45. Plate, structural material, steel bar and bar Iron capacity are practically taken up for this year.

Certain plate mills are full for six months into 1900. Sheets offer best deliveries of any finished line. One source of demand tha promises to exceed in 1900 its record for this year is railroad equipment. The car and locomotive supply is proving inadequate to the demand upon it in many sections, nnd the enormous railroad earnings will not go to larger dividends but to betterments. These, both in trackage and in rolling stock, promise to reach prodigious proportions, PIG IRON SHORTAGE.

According to 'dispatduw from Pittsburg, steel manufacturers are still much concerned over the shortage of pig iron, aud fearB aw entertained by many that a famine in Kteel i imminent. The shortage of pig becomes dally more pronounced. A number of fteel plants have been obliired within thirtv dnvs to curtail pro duction on account of inability to secure supplies. In s.mie of the departments of Jones Utughun, it was found necessary to suspend for day during the week, and at Carnegie's notwith standing the fact that the company has more furnaces of Its own than are necessary to furnish Its supply of Bessemer ordinarily, some inconvenience is felt, and though suspension has nut yet teen found tieces.iry, such a ontingency is among the possibilities of the future. The existing situation is without parallel in the history of the steel industry, and demonstrates tliut the present situation i the most profiKTous ever known in the iron and steel busincss.The Association of Mahoning untl Hhcunngo Valley blast furnace owners luis entirely withdrawn from the pig iron market for the present, and uutii the price of Bessemer ha been deflnitvlv fixed, will not sell nnv more of the product of 1900.

The Atociation will meet at Cleveland, on Saturday, to take some action on the question. There is a Wlief in some quarters that the prico of pig iron may son reach $25 per ton. The reported purchase of 10,000 1o of steel in Great Britain for shipment to the United States, has been the subject of mnch comment, tint it is not expected that liiuch relief mn be found from this source, as the English market is quite us much congested as our own. SI.OSK SnEFFIELD STEEL IRON This coniKtny has been organized in New Jersey with a capitalization of 120,000,000 equally divided between non cumulative preferred and common stock. Of this amount ,700,000 preferred and common is to be issued at present.

Hie public subscript ion amounts to 2,200,000 of each class. Each subscri tion to the preferred stock at par carries nu equal amount of common. The bankers are. Charles R. Flint and Frederic P.

Oleott, who are authorized to carry out the plan of consolidation. The Central Trust Co. of New York is the trustee. The stock not issued reserved for the erection of a steel plant. The Philadelphia Furnace, the Ensley Furnace, Gulf Coal Coke Co.

and the Brown Ore properties all enter the new concern free of indebtedness except the Sloas Irou Steel Co. The amount in this case cousUts of 2.0O0,00O tf lwudnanJ 000 4Jf bondo. Upon the present prices for iron and coal an annual net irotit, through operation of the Sloss Iron Steel Co. is figured at $1,333,000 or li on the present issue of both preferred and common stork of nil the consolidated companies. The annual earnings will be further increased by through putting in active oeration the properties which are now idle.

In addition the development of coal mines should further increase the profit $200,000. After paying nil interest on outstanding bonds and Itfeferred stock aiid 7tf ou the common stock the net annual earnings for all the properties are figured in excess of these charges nt $1,100,000. Of the cash to be provided is available for betterments, working capital, etc. In addition the new company receives the benefit of working capital of not hfs than $100,000 of the existing Sloss Iron Steel Co. A recapitulation of the pnuiertie acquired by the new com pany indicates that seven blast furnaces of 1.400 tons capacity jht day, 1.500 coal ovens, G2.0im acres of coal lamw, acres or brown nnd red ore lands.

1.200 tenement houses and 31 stores, warehouses and office buildings, will be taken over. A statement front llogers, Brown leading iron ore ex jicrts, confirms the statement made by a committee of previous owners. A further statement is made that the export demand for Alabama pig iron has not been checked by the prices now ruling in American markets. In the ten days ending July 1, about 20,000 tons of Alabama iron was sold in various European (Mirts at prices named in making np the basis of the earning cajweity for the new company. There is every prosect of this demand continuing.

This would indicate that current juices are likely to be realized for a long time to come. ZINC AND LEAD ORE. A special correspondent of Colley Co. says: "The total sales of zinc and lead ore in the Missouri Kansas district from January 1st, 1S99, to August 13, 1899, now amount to the sum of $7,188,369. This is largely profit, as the cost of producing1 the ores averaged only from $7.00 to per ton, while the average price since January 1st, has been over $43.00 ht ton.

No other industry has shown such enormous profits as the zinc and lead industries this season." E. V. Machette, a prominent ore dealer, of New York, says the scarcity of zinc ore still prevails; that he has orders for 13,000 tons from Liverpool and Antwerp that he is unable to fill at any price. COTTON. Cotton eased off to the lowest prices of the month on the decline Liverpool nnd rallied later on' the ndvice.1 from the South of continued heat and drouth.

With liquidation completed the selling pressure disappeared and the market rallied slightly. There was little new in general conditions. Sjtot cotton was unchanged nt 6 3 16 cents for middlings. Futures advanced 1 to 2 points net. 1.45 p.

m. Cotton holds firm nt slight net advance in the face of considerable decline at Liverpool, continued drouth and hot weather at the South the strong features. Liquidation appears completed. Shorts covered moderately and rallied the market from early low point Prices show 1 to 2 points net advance. Receipts cotton: Aug.

17. Last week. Last year. Charleston 2 2 ..280 New Orleans 603 Norfolk ,9 Savannah 84 Houston .......1,688 71 337 232 19 43 807 87 276 12 1,102 Estimated receipts at all potts 1,500 bales against 1,006 a week ago and 1,339 a year ago. Liverpool cables.

Spot cotton limited demand; 1 16 lower. Middling, 3 13 32; sales, receipts, American, 1,400. Futures opened quiet, and at 12.30 were quiet at about 1 points decline. Sept Oct. 319; Dec Jan.

318. Liverpool cables. At 2 p. cotton futures were easv at 1 2 points decline. Sept Oct.

3181; Dec Jan. 31Ga. Liverpool, i p. ta. Cotton closed steady.

Futures about 2 point! decline. Sect Pet 3184.1 Dec Jap. 81ft. THEIR EARNINGS." NEW YORK PENNSYLVANIA Albany (special). Report for the June 30 quarter: 1899.

1898. Gross earnings $9,880 Inc. $3,882 Operating expenses 13477 Uf105 Inc. 4,312 Net earnings $2,294 Fixed 'charges 4,380 $724 Inc. $1,570 230 Inc.

4,159 Deficit $2,080 Inc. $2,580 Assets of $906,831 include $811,700 cost of road and equipment aud $11,709 cash on hand. Capital stock is $471,900, and funded debt $420,000. ROCHESTER RAILWAY. Albany (special) Reports for the quarter ending June 30: 1899.

189 '1897. Gross earnings. $181M5Q $189481 Operating expenses. 128,063 120,170 (Net earnings. $78,123 Other income 2.0S5 From Jan.

1: Cross earnings. Operating expenses. Net earnings RAILROAD EARNINGS Ann Arbor: 1S99. 2nd wwk Aug. 28,521 From Jan.

1. 960,595 Buffalo, Rochester Pittsburg: 2d week Aug. 01,72:1 From July 1. 431,191 189S. 24,752 876,400 79.431 495.106 JJen vcr Kio Grande: 2d week Aug.

105,200 From July 1. 1,030,500 International Gt. Northern: 2d week Aug. 59.358 48.851 From July l. 368,930 313,970 Minneapolis St.

Louis: 2d week Aug. 48,957 39.993 From July 1 318,202 224,110 $68,980 $63,154 2,300 1,775 Total $71,346 Fixed charges 74,508 67,876 $64,929 J6.299 $3,470 Def. $1,839 Assets $10,153,809 iodide $9,928,621 cost of road and equipment, and $16,258 cash on hand. Capital stock is $3,000,000, funded d((bt $4,551,700, and $201,682 profit and loss (surplus.) NEW ORLEANS CITY R. R.

Month July: 1899. 1898. Changes. Gross $121,889 $112,163 Inc. $9,721 Uncrating expenses 73,416 Dec.

3,467 $48,472 $33,279 Inc. $13,193 $807,228 $791,325 Inc. $15,903 473,152 Dec. 8,392 $332,073 $307,870 Inc. $24,205 Dec.

43,015 Missouri racific: 2d week Aug. 474.000 33,000 From Jan. 1. 13,600103 15,259,642 40U.S24 Central Branch (Mo. Pac): 2d week Aug.

27,000 24,000 3,000 From Jan. 1. 083,803 800,207 120,402 Pittsburg; Bessemer Lnke Erie: week Aug. 53,337 42,252 11,105 From. Jan.

1. Rio Grande Western: 902,02 2nd week Aug. 70.000 From July 1. 471,700 728,007 234,020 58,000 372.600 Yaiusn: 2d week Aug. 318,339 282,504 From July 1.

1,880,984 1,627.501 Western N. Y. Pennsylvania: 1st week Aug. "77,300 08,100 Inc. 8,70 84,195 12,291 28,200 10,507 54,974 8,964 94,092 17.400 99,100 33,835 202,483 9,200 FIRST WEEK EARNINGS.

Seventy two roads have rejMirted for the 1st week in August, showing: 1898. Changes. 1st week Aug. $9,140,163 $7,992,822 14.33 SECOND WEEK Twelve roads have reported tor the secuud week in August, showing: 18118. Changes.

2nd week $2,245,004 $1,957,534 Inc. $287,470 14.08 PITTSBURG. BESSEMER' LAKE ERIE. Boston (special). The Pittsburg, Bessemer Lake Erie is now fulfilling the predictions of its friends.

The road is practically completed with 100 pound steel rails and furnace slair ballast. The company's equipment largely consists of steel cars. 50 of its equipment lieing 100,000 uud 90,001) pounds' capacity cars. The staiulard locomotives used weigh li 0,000 lmunds on the drivers, Since the opening of navigation it has been haudliug a tonnage at uie rate oi tons iter auuiuu. The great volume of trude is naturally from the lakes to about of the ore trains returning light.

the fact that the average freight rate is the lowest in the country, the average paying load of the freight trains is 50? great er tnan any other road in the country, the overage paying loud since the owning or navigation liemg tons. This phenomenal showing is made pcssilrle by the low grades and the character of the company equipment. This road has an advantage over other road in that it is not compelled to maintain expensive terminals. INDIANAPOLIS CAR MOVEMENT. The train records show that in the week ending Aug.

12 there were received and forwarded at Indianapolis 28,403 cars, 22,463 being 'loaded, and while the number handled at this poiut last week ten hi. loaded cars below that ol the preceding week it was not for lack of freights to be moved but the scarcity of cars, not an In dianapolis line having enough cam to fill orders from dav to da v. The road are moving first the freights which it is the most iiu portunt should lie placed ou the market. The loaded car movement of last week was 2,320 cars in excess of that of the corresponding week of 3,239 in excess of 1807, 6,800 more thiih in l.v.tit. mure than in iNto aim 7.02J niore tliau in 1894 From these comparisons it will be seen that all the roads are doing a very heavy business, north aud south, as well as east and west limw sharing in the prosperity.

The present shortage of cars means more than it oruinamy noes. PENNSYLVANIA. Philadelphia (special). A high official of Pennsylvania Co. says there is more business offerinir to dar than pver he fore at this time of the year and an effort ia being made to secure a meeting early in September of all the leading presidents to de ciae on auvances in rreignt rates.

INDIANA TRACTION. Toleilo (rtjiecial). The Indiana Traction Co. has ordered C4 miles of 70 iMiiind steel rails from the Columbia Steel Conijmnv. An electric Hue is to le built with the rails from Anderson, .1...

1. If mi uiruiiKii jiiini.it io iiiuiiiMiijniuK. i np company is already op crating a line from Marion, to Anderson. THEY WANT THE CONVENTION. Milwaukee (special).

Confmittees are at work raising a $100,000 fond with a view to securing the nutiouul Uemocratic convention for Milwaukee. With the Cliicniro Mi! waukee railroad to help and the influence of middle west com mitteemen who are favorably disposed, it is thought that th city's chances are good. NATIONAL LINSEED. We learn that the statement of the officials the National Linseed Company will be made to the stockholders some time during the coming week. We understand that nil matters have been sett ltd with the exception of a few bonds, and money will be deposited with the trust company to liquidate these claims.

The company will then be a "has been." REPUBLIC IKON AND STEEL. We understand that the Republic Iron Steel Co will soou make application for the listing of its securities. A very full stirtemertr will be made under the policy of wishing to give everything that can be desired for a full understanding of the merits of the property. A director of the company says the statement will show us well for the stock as the statement made by the Steel Wire Co. At a sRcial meeting of St.

Louis Eastern lines held at St. Louis to take action on adjustment of differential agreement of fares from St. Louis eastward the existing agreement which has been in effect since the beginning of the year was renewed. THE BANK STATEMENT IN ADVANCE. or tne fast couple of weeks there has been some attention given to predictions on the bank statement that have come from certain very powerful speculative sources.

Lost week as early as Tuesday these people openly made very confident predictions that Saturday's statement would be a very good one; They held firmly to those predictions throughout the week and the event Justified what they said, ia view of the surprise given by the statement to the street In general some significance is now attachedto these predictions. Ordinarily the bank statement is one of the most difficult things in the world to forecast. This makes all the more remarkable the mccess that has so far attended the prophetical efforts of the interests referred to. BANK OF ENGLAND. London.

The Bank of England's weekly statement shows the following changes: Total Teserve increased 951,000, circulation decreased 272.000, bullion increased 078,939, other securities decreased 466,000, other deposits increased 400,000, public deposits increased 80,000, notes Teserve increased 1,005,000, government securities decreased 10,000. FOREIGN GOLD PREMIUMS. London. The premium on gold at Buenos Ayres on Wednesday held at 129.80, against 119.70 one week ago; at Madrid 23.30, unchanged; at Lisbon 44, against 38 and at Rome 7.60, against 7.57 Tuesday. TREASURY AND BANK NEWS.

Washington (special.) Expenditures $2,200,000. Washington (special) The Treasury gold decreased $198,507. Net gold $248,080,697. There were deposited $80,000 bonds to secure National bank circulation. Wushigton (special.) The Treasury receipts are not running as high as expected.

So far the receipts this fiscal year are but $6,000,000 in excess of this time last vear. The expenditures, however ore $20,000,000 less. Washington (special). It is not believed at the Treasury that there will be much gold imported this fail from Europe. The.

Bank of England is a purchaser of gold In the open market and will, It is said, probably absorb all gold offered at reasonable rates. THE TREASURY STATEMENT. Aug. 14 Aug. 15.

Aug. 16. Net $245,833,254 $246,485,263 $246,086,697 Net silven 6.070,283 5,883,344 5.246.S67 Net U. S. notes 15,905.245 15,885,933 16.451.277 Net other assets 6,067,789 5,411,175 Available balance.

Government Government expenses. Excess expenditures. Notes redeemed $273,667,720 $274,191,406 This date. Month to date. Fiscal y'r.

2.275,001 "$330,398 144.733 $24,930,233 29,213,000 $4,278,706 1.208,006 $72,990,491 85.776,090 $12,785,398 3,374,130 SUB TREASURY STATEMENT. Gone into banks. Gone out of banks. August 16 12,812,000 $3,049,000 Loss $237,000 Since Friday ....17,263,000 16.280.000 Gain TRS.dfjO Pension payments Wednesday, $391,000. New York.

Clearings $176,755,298, last year balances, debit Imlance, $429,343. Philadelphia (special). Clearings, last vear, $11, balances, $3,914,422. Baltimore (special.) Clearings $3,475,133, last year $2,603, 697; balances $508,236. Boston (special) Money at Clearing nouse loaned at 3.

New York funds sold at par forVnsh. Albany county savings banks will reduce Tate paid on depos its of over $1,000 from 40 to The New York Clearing House has issued the following notice in regard to the efforts made by banks not located at discretionary points, notably in Massachusetts, to avoid payment of the charge made for collection of Massachusetts Hems: "Items on banks not located nt discretionary point stamied collectible through the clearing house nt a discretionary point are subject to the rules and charges must be made thereon. In order to permit the waiving of charges on such items they must be made payable at a bank located at a discretionary point." MONEY. The time money market remains quiet Rates are quoted at 44 for all dates. Mercantile paper market remains steady.

Rates are quoted at 4ffr4J. for prime endorsed bills receivable, 4JW4J0 for first class single mimes, and for others not so well known. ACTUAL RATES OF EXCHANGE. Sterling. Cables 4.R7J demand 4.86J, sixties 4.83.

Bankers, Taris. Cables S.lSJ ISi less 110, demand 5.18J less 1 10, sixties 5.21 less 1 16 21 J. Commercial French francs. Demand 5.19J less 1 16, sixties 5.22J. Bankers, reichsniark.

Cables 93i, demnud 94 15 16 93, sixties 94 3 16 Dutch guilders. Demaud sixties 39 15 16. Market fairly steady. MASSACHUSETTS INDUSTRIES. The Bureau of Statistics of Labor of.Massachusctts has issued its annuul report.

The number of establishments considered in the report is 4,701 as against 4.695 in The value of goods made and work done during the year in the nine leading industries was of which boots and, shoes contributed cotton goods. leather, machines and machinery, metals aud metallic goods, paper and paper goods, woolen goods, $30,359,533, and worsted goods $25,604,722. The report fhows that the induction of the textile industries in some of the cities has decliued ia value. For example, Fall River, which leads in textile production, produced during the year, textile fabrics rb the value of $30, 230.934. this being a fulling off of or 9.2S? as compared with 1895.

It is shown that the various mills following a systematic plan not only cut down the number of pieces of cotton cloth curried over from the preceding year, but also cut down production materially. The number of textile establishments shows a decrease of 93. The report contains a table showing the amount of capital invested in the leading industries as follows: Boots and shoes, 122.414,635; cotton goods. food preparations, machines and machinery, f32.083.813; metals and metallic goods. $17,191,783: paper.

rubber and elastic goods, woolen goods, priuf works, dry works, $12,674,871. The cotton foods industry gave employment to 1.385 persons, who received in wages $20,294,210. In the boot and shoe industry 51.897 persons were employed, at wages aggregating while in the production of machines and muchinerv 188,028 persons were engaged who drew in wages $10,. 008,181. NEW CORPORATIONS IN NEW JERSEY.

M. Walker Dunne The Colonial Press; objects, printing, capital $100,000. Niles Bemenl Pond object, manufacture iron and steel; capital $8,000,000. Cnmminge Nut Lock Co; object, manufacture nut locks; capital Schuvlkill Haven Iron Co; objects, manufacture iron, capital $100,000. Scott Electric Co; object, manufacture electrical ap plances, capital American Aron Electricity Meter Co; object, manufacture electrical meters; capital $500,000.

Ohio Steel Manufacturing Co; object, manufacture steel; cap ital $125,000. P. Lowentraut Manufacturing objects, manufacturing ice skates, capital $200,000. Mineral Point Zinc Co; object, manufacture lice; capital $400,000. Continental Telephone.

Telegraph Cable Co; objects, telephone, capiUl $1,000,000. American Steel Body Double Holster. Co; objects, manufacture steel bolsters, capital $350,000. Success Anti Clog Weeder Cultivator Co; object, manufacture agricultural mnchinec; capital $300,000. Rees Automatic lndicutorilo; object, manufacture automatic indicator; capital $200,000.

Carter Steel Iron Co. of East Tennessee; object, manufacture iron and steel; capital New York Atlantic City Navigation Pier Co; objects, contstruct and operate oteamships; capital $500,000. Newark Buy Short Line; objects construct docks, cap! tal Imported Saddlery Co; object, manufacture harness; capital' $100,000. North Bend Sugar Refining Mfg object, manufacturing sugar; capital $250,000. American Rubber Horse Shoe Coj objects, manufacture how shoes, capital $100,000..