The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-09
MEMPHIS APPEAL.
TUESDAY, MARCH 0, 1886
THE BUSINESS SITUATION.

The returns OF thirty clearing
houses published in detail on our
third page still show gains over last
wear. The weeks total increase over
the corresponding time in'lSSb was
29.5 per cent; outside Of New York,
25.4 per cent, an amount that tells
well Tor general trade, as the New
York returns include Wall street spec
ulations. Upon the increase list we're
Chicago, l73 per cent. st. Louis, S3.2;
Cincinnati, 1879; Louisville, 25l;
Kansas Cisy, $50; New Orleans, 90,
and Memphis, 0S per cent. There
were six cases oil decrease, one OF
which down to l44; none OF the
others was IA per cent; one was as
low as O.6. Such a showing is an en-
csuraging contrast to the weekly re-
ports Of large part of last season,
especially when we remember the inn
mense suowJ that have impeded bust
ness beyond the ordinary winters i'm
Aictions; the distractions from strikeR,
the dragging wheat market and the
extremely low price OF cotton. II un-
der these and other obstacles trade
can show as good a front as the clear
ings indicate, we may take courage
and 20 on with confidence, not forget
ting TO have caution also in the train.
In many instances the strong and de.
termined attitude OF strikers, and
especially the application Of the hoy
cott," are producing effects so power
full as to indicate an approaching
crisis, so often anticipated between
capital and labor. The anxiety en-
gendered by this has checking effect,
weakening confidence in the immedi-
ate future. There is a movement on
hand to introduced series OF strikes
on a large scale in May, with view
to reducing working hours to eight
each day, when difficulties are ex-
pected toincrease. The strikes exist
ing are all over the country from San
San Francisco TO Maine, and the bold.
ness and firm policy with which most
of them are conducted renders prop
erty men thoughtful. Railroad build.
ing prospects are much beyond those
OF last spring; projects and surveys are
numerous. The building trade opens
up well In most places. In mining
districts an active year is confidently
looked for. Inside the cotton belt the
very low price Of the staple has robbed
the season Of its brightness, and the
planting season approaches amid
much encouragement, but whether
the result will be some departure, at
least, from the course OF "sll cotton"
remains TO be seen. Hopes to that eff
feet are below par, Our Memphis
clearings the last month have shown
the effect OF low priced cotton upon
business. New York reports money
easy at p with offers at . per cent, a
rate that will check the tendency TO
invest in Europe. Still some gold is
going over every week, but the Bank
of England rate is only per cent. On
Thursday the Treasury received 1895,
600 for redemption. The silver ques
ton still dIags on with an apparently
hopeless prospect Of deliverance
which is check on our opening pros
poets. In business, the politician is {
difiulty inCorIigible. The House Bank
ing Committee has decided to investi
gate financial and banking interests
it is hoped with a view 10 reforms anC
the introduction OF sound improve
ments. Last Wednesday s., Ills, $50 in
gold was. shipped to Europe; up t
$l,655,000 was engaged to 90 during
the week. The Bank of England ba'
its rate down Us low as II can put it
and it is expected to stay. there fol
some time to come. The Little Rocl
Gazette reports money there at 10 pei
per cent. TO bank customers, with al
easy money market. The Nashville
American reports bank business rathe
quiet, collections improved; loan &C
count reduced TO the lowest point, anC
accumulAtions see king Investment east
The New Orleans Ficdyune reports I
continuance of bank mcnotony, bu
financial conditions are healthful anC
prices generally low, which raises ex
pectation OF a reaction; local none!
abundant and cheap. As spring be
gins 10 approach there is peiceptibl,
movement toward higher plane, an,
expectations are assuming decided.
more cheerful aspect.