The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-30
SUNDAY, MARCH IS, 1856
T9s BUSINESS SITUATION.

Tar BUSINESS kITUAIiOh.
The business interest Of the past
week haJ necessarily concentrated
upon the great railway strike. OF
course the interruption OF communi-
cation has disturbed the flow Of COM
merce, but owing principally to the
good sense and moderation OF Mr..
Powderly, the head Of the Knights OF
Labor, arbitration has been agreed to,
and probably the wheels will once
more be running their accustomed
course over the rails. The amount oil
business don. during the week has
necessarily suffered a considerable
diminulion from the disorderly state
of things. Yet, with all the Interrupt
ton, the clearing report OF the week
we publish in our business columns
shows the number Of cities, out oil
thirty reporting, that have a lower
amount OF exchange than they had at
the same time last year was only five,
"a small a number Of decreases as for a
long time past. This shows that bust
ness is row on foundation where
even such a contest between capital and
labor as appeared likely to spread
dismay through tie land was unable
seriously 10 shake 1t. The total clear
inRs OF last week we're 455 per cent.
more than at the same time last year,
or leaving out New York and its specu-
lation, the liner sase in the cities out
side of it amounts to 20 per cent. 1t
is not only the amount OF the increase
in the percentages that is noteworthy,
but their continuation from week to
week. Now the railroad cyclone has
passed over we can look forward with
much confidence for better state OF
things. Some Of the decreases Of the
week were directly due to the strike,
as in the case OF st, Louis, for instance,
which shows a decrease Of A Sper cent.
against the corresponding time last
year. Baltimore decreased 90 per
per cent. Among thu cities increasing
their exchanges are: Louisville 4 b,
Kansas City $50, New Orleans IS 4,
Cincinnati II per cent. Memphis de-
clined 3,4 per cent. Taking into &C.
count the condition of things during
the week aud the clearings report as
II stands before us, II is impossible moi
to see present Improvement and tc
have much more faith that II will
not be confined to the present
The Chronicle reports improvement
during the week in the New Yorl
money market with hardening ten
dency in bankers balances, the aver
age on which has risen 3 per cent.
but on Friday fell to q, The mair
cause Of this, the Chronicle says, is tina
the banks have been drawn upon by
their interior correspondents, and alsC
for gold for shipment, 90 that with
very few exceptions the banks re
sources are low. Take four bank
away, as reported in the clearings
and tine surplus Of all the rest would
be under s5,O0OI0O0; they have enough
10 be safe, but they are necessarily les
liberal. As the call for money is like
ly to continue till after the April set
Elements, any material change is no
looked for at present unless govern
ment increases the supply Of currency
Money is lower in London, and there Il
still some drain OF gold from the banl
there, France continues 10 strengthen
itself in gold and holds 1858, 203, 900
an increase Of over $50,0O0,000 sine,
March last year. france evidently
INDUCES no such dreams about silve
as ignorance or seli-interest pours il
sleepy doses into the ears Of Congress
France Ia nominaly silver country
but there are none that look to golC
for safety more than the Bank o
France does. In France they tall
silver but handle gold, for they hav
we'll learned villa, we do not yet know
The to,ai export of gold this weel
from New York was 1904 $50. MI
Manning's personal and mastery man
agement At the Treasury is missed, bu
he had surrounded himseli with first
rate assistance, thoroughly trained ii
his methods and in accord with hi
views, 60 that no difficulty isieared
The CioRies says Of the strike, Ether
is no grievances to be redressed." TIL
Indicator Is Of opinion that "it is onl
shower, anyhow, and too much ius
is made about 4. for at will pass ava
like the winters snow" There d
take It altogether, an evenness ,abou
the general trade Of last week, spite Q
the strike, which shows a return G
confidence aud is a hopeful sign.