Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1874-11-27

ly one day shorter than usual. A Iui
report of the markets up to Wedncs
uay noon Will be found below.
COMMERCIAL Busi
ness in the leading branches of trade
continues quiet, though perhaps there
is as much doing as could be expect
ed, taking into consideration the de
| pressed condition Of most industrial
pursuits; but lot Notwithstanding the in
activity Of trade, there Is ii strong and
buoyant feeling peryading the markets
for most of the leading products.
| The condition of trade is the subject
which agitatcs tbs commercial mind
! North. Tie following article on the
! subject Is takou from the Cincinnati
Price Current. It Gays:
! ''It is interesting. rs well as instTuc-
tive, to note the changes which CON
stantly occur III various branches OF
business. Trade seems to be subject
to natural laws which are analogous
to those which control the weather.
Storms are succeeded by Gains, rain
by sunshine, and cold by heat \
long period OF commercial prosperity
is followed by depression, but the very
depression Is constantly working ont
its mission and Is sure to bring III due
time renewal of prosperity. The
process IS slow, but II can be accelera-
ted by Judlcious psolstauce. Capital
is proverbiaily tinid, and after the
severe shock which 1t received last
year its recovery is evidently slow.
For several years preceding the
panic we saw mania for Investment
Iii secu tiles which promised large re-
turns, and everywhere people Were
selling such uidoubted securities as
Government bonds and investing the
proceeds III lower priced securities
which promised to pay larger interest.
Now the reverse OF tins movement Is
going on. The security Of the princi-
pal Il looked TO lore than the high
rate of Interest. This is apparent not
only i'll this country bat IL, Europe.
THIS feeling also enters inc general
business. People are afraid 10 buy
goods 20 hold ev, Il ut prices 2JQI0U
per cent. lower than weie current two
years ago. Merchants are carrying
Jess STOCK, and consequently there is
an accumulation in the hands of
l. f2lufactGrer&, even Of such goods
a ara CONSUMED rs largely as ever.
Tie c0nse Guence IS that production
near'y al manufactures is reduced.
1i4e cotton mills ere running on re-
GUctd time. The W0oien mills have
Resolved to stop - per c, Mt. Of their
machinery for thee months from No
vCmbcr !. Many OF ihe iron furnaces
have STOPPED, ;sl.d many more will do
SO as soon rs tie stock Of raw material
on hand is worked up; some OF them
those IN strong handS-fruln policy,
ant others from necessity.
\ similar state OF things exists, or
Will soon exist, in other branches of |
business. The result Of this will be u
III the rate Of wagega, and |
III tho price OF raw material, when |
they have not already been adjusted to |
the new conditions, and consequent |
decline III the ccst OF production, and |
followed with lower prices will natur- |
ally increase consumption, AID then |
viii commence. This is the |
only legitimate way tor trade to be re- |
IN II solid foundation, and |
the sooner 1t IS recognized the better !
It VIII be for ali concerned. The pro-
cess must necessarily be SLOW, but it |
has already been going on for some
months; had it been recognized and |
acted upon before, i might now be |
Il arly over. !
it Is rpS manufacturer and lncr- /
chants Oaiv VINO can nsaist in this ad- |
justrnent uf trade tc n new basis. but !
the agricultural interests also. The
farmers and planters rst he content .
to ACCEPT lower prices f0r their pro-
lac.ioIs than they have been accus-
toned 10 receive. Tie ,.ouutry is rich !
IL produce ont poor ii rluIey. The |
money !, III the larger cities. but if |
tt;t, urUGnc. OF the country could be !
l,ore.nt At Il fair ,1arl.ct yaiII:. If would !
a,c.;! be distributed Who're i ia most ;
needed. and This Iorl!I materially as !
81 It in tho dawninc OF better times. |
The holding back al prcduce st such |
fumes as those orsIv o.ids IL tho heavy |
burdens sud ,,oef;,o>..,. liza timc for !!
In our !1ca' market trade has ieon |
yt,y oi,;.t hrt ! , .,,,no e,f Tho 1aadiro |
innnc'.. there has been considerable !
tirr,r.es.. .,.d in s.,rto ,,,.tooocs better !
rri,.,.s y.cr, n,;l (
<ar.I stores haxa hac, co,7n,ri- /
lively .i-.n. but in spirits turDe1ltine |
there has been less staadiDces. Rosiu |
has been firm ana prices have aIvanc- ;
ed considerably.
III. sl,;n,ariIt of fEa u.c, CT naval !
stores and cotton var., 3 >3l bales cot !
I'm ~ c..4. ,.,:~;ta t,,~,en.;fe
- 574 l.,74 rfN;0. - o;nst ! DO bales |
cn;fon : a2H cad, s,.i~,.s t,,~,cn.ire |
and 9 4ni i7E:'s rrsio
Foreign frei:.l.ta arc higher. with an
o,,.,l.. s[l,nrv RI tnn,...., ut communal
H. Iy,et H. sl - ,.,,.' , q, - Ia ~
Tan c;,.f ft.n.,,r,.- - tn ,,.,lot
and liz, cha. ses Il price. ii most 81 the