The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-03-19
EFFECT OF The ADVANCE
IN The PRICE OF MATERIAL AND
Hl. LABOR.
IL Checks Business and Induces Job
bers and Retailers TO Postpone
the Placing Of Contracts.
lsPEcIAL 10 TEE APPEAL.I

PHILADELPHIA, Pa, March IS
Within ten days past orders have
gone out from American steel BUYERS
TO English steel makers for the imme-
diate shipment of between 20,00l and
800 tons of special steel, which can
be made and delivered in American
markets at from 81 80 TO So per ton
less than the price at which the Amer
lean steel can be made. This is due
TO the increased cost of labor and
material. 1t is apprehended that
during the next three months large
quantities of English steel will be inn
ported, to the detriment of American
makers.
The general advance in the price OF
material and of labor has had the eff
feet of checking good deal of bust
ness during the past week, and of in
dueing manufacturers, jobbers and re-
tailers TO postpone the placing of
great many large contracts for all
kinds Of manufactured products.
Should this tendency extend to ex-
IRENE limits, it would naturally
create a reaction by the checking OF
enterprise and result in a disemploy-
ment of labor with decline in its
price.
All Of the nail-makers east Of the
Allegheny mountains are quite jubi-
liant over the prospects of a heavy
demand for nails, because of the an
nounced determination of the Western
makers to continue the Stike all sum
mer.
In general way the manufacturing
situation is as satisfactory ms it has
been at any time this year, although
during the past week demand has con-
siderably fallen off at Boston, New
York and Philadelphia, Cincinnati,
Chicago and st. Louis.
During the past two weeks the man
ufacturers of carpets, hosiery, clothing
and ginghams in this city have re-
ceived advices from their agents to
the effect that a very heavy spring
and summer demand for all products
of the loom and knitting machine will
be presented. There will be a general
advance on textile goods this summer
of from 10 to 20 per cent, on account
of higher priced wool and labor.
The boot and shoe manufacturers of
Philadelphia and New England States
complain of backward rather than
an active demand, but stocks are very
low in jobbers' and retailers hands.
The jobbing trade predict a very
heavy distribution in April. Large
sales of leather have been made in
Boston, New York and Philadelphia.
The demand for foreign and domestic
hides is good, and prices show no
signs Of weakening.
The anthracite coal combination
will be attempted in about ten days.
Prices are ruinously low from the
company's standpoint, but sufficiently
high from the consumers. Already
the production is nearly 100000
ahead of the production last year,
nearly all of which is being marketed
at exceptionally low prices, The man
ufacturing and railroad interests of the
ten New England and Middle States
are greatly concerned at the threaten
ing attitude of the twenty odd thou
sand bituminous miners, either on
strike or threatening. Should there
be a suspension, it will be general
one, backed by the powerful organiza
ton of the Knights of Labor, and it
may possibly extend to the four riv-
ers, namely: the Monongahela, Ale
gheny, Ohio and Kanawha.
Fortunately for the industrial and
commercial interests of the country,
and business men are
out of debt. The bulk of
them have moderate bank accounts,
well-established business, and, in the
case of the manufacturers, they have
orders running from one to four
months ahead.