The Corvallis gazette. [volume] (Corvallis, Or.) 1862-1899, 1883-11-16
EASTERN STATES.
Business in the United States.

EASTERN STATES.
Business in the United States.
NEW YORK, Nov. ll.-General trade not
only continues slow, but there appears to
be, to large extent, an Improbable
shrinkage m values, and failures in unex-
pected quarters have created a caution that
has been carried to the verge of timidity.
The consequence is that merchants refrain
from buying except for actual requirements
and to complicate and make matters worse
those who hold accommodations refuse to
discount mercantile paper not believed to
be of the highest grade. The volume of
money was never larger, and prices are, as
"a rule, upon safe basis when measured
by the cost of production. Yet so wide
spread is the feeling of distress that trade
of all kinds moves slowly, and of specula-
tion there is very little. The depression of
the iron market continues, but producers
stubbornly resisting further decline.
The production of iron has been much re-
dueed in this country, and imports have
also largely decreased. This, combined
with the decrease of production and impor
tation, is one of the most favorable features
in the future prospects of the trade.
Prohibition Losing Ground.
NEW YORK, Nov. l1.-Times Consti-
tutional prohibition appears to have en-
countered serious setback, even IN the
state of Iowa. A careful canvass of the
newly elected members of the legislature
shows that few of them are prepared to
sustain the decision of the supreme court on
ratification of the old amendments, aud that
a decided majority is opposed to re-submis-
sion. Even prohibition by statute has Lost
ground to an amazing extent, and it is
doubtful if it can be carried in the new leg
islature. This shows strong drift of pub
lie opinion in that state, which has revealed
to many republicans that there is no safety
in binding the party to this issue, and that
if they Were to persist in doing SO it would
mot be Ion. before the ascendancy of the
party would be lost, even in that state.
The result of this inquiry is calculated to
check the movement everywhere in favor of
prohibition by constitutional amendment,
and even to give a new aspect to the whole
project of temperance legislation.
Arthur 4 Candidate tor the Presidency.
NEW York, Nov. III Posts Washing
ton special "A member of the administra-
tion said to-day ''Chester A. Arthur is a
candidate for presidential nomination. I
- 7 l.
Say necessity for keeping quiet about it
any longer. think that before long the
party will have no doubt that he is can.
didate.
Dull Times
CHICAGO, Nov. IA Pittsburg tele-
gram gives a gloomy report of the outlook
for rolling mills in that district. Few have
orders enough to keep them busy the entire
year, while others find it necessary to shut
down or accumulate stock, which they do
not propose to do in the present state of the
market. Oliver Bros mill, in Allegheny
CITY, shut down this morning, and the su
perior Rail mill will stop Tuersday, Or be-
fore. Men in the establishment do not
KNOW hueu WOrk Will resume. "A roller IN
the Superior mill said the concern had not
been running more than half time for two
or three months, and although different
excuses had been given by the firm, he
knew that lack of orders was the only
reason for the stoppage. Ii is rumored that
two or three other mills will close this
month.
The Nicaragaan Canal Scheme.
CHICAGO, Nov. l2.-Engineer Menscal,
who is now in Washington, and who has
been CONSPICUOUS for his connection with the
Nicaraguan canal enterprise, is preparing an
expedition to Nicaragua, to make some ad-
ditional surveys of the route 1t seems that
some objections We're raised, owing to the
difficulty of improving the harbor at Grey
best route for the canal has been chosen,
has appeared important enough to the pro-
jectors of the enterprise to make further in
vestigation, and see if it cannot be removed
in some way. It is understood that Men
seals party will remain year or so in
Nicaragua, but will have some results in
time to send back for the information of
the present congress.
Fire at Charleston.
CHARLESTON, S. c., Nov. ia fire
broke out this afternoon in Hayne street,
in Witbur's clothing mandatory, spread
ing to the store of Robertson, Taylor & Co.,
wholesale grocers. Both buildings were
Quilted. Luding's barrel factory, adjoining,
was damaged. The loss is estimated at
$50, 900. Eight women and man and boy
were employed in WIlbur's factory, most
of whom jumped flom the third story
Ellen Heron was killed; Susie Bond was
mortally injured; Mary Wolfe badly
burned. but may recover; Abagall Guy and
T.anra Green are sunDosed tn have burned