The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-07-07
THE INDUSTRIAL OUTLOOK
Is EVERYWHERE EXCELLENT
AND ENCOURAGING.
Manufacturers Restricting Them.
selves to the Demand, Which
Equals Production.
IspEcIAL TO THE ApPEAL,I


PHILADELPHIA, Pa, July 6.-The
characteristic feature OF the industrial
situation throughout the United
States is the restriction Of supplies to
actual or probable msrkst demands
Heretofore market demands have
been too largely lost sight OF, but at
this time they are carefully studied.
Stocks are moderate everywhere, and
hence prices are firm, even where mar
gins over cost are very narrow.
The difficulties in the Western iron
trade have been adjusted, and already
there are-evidences of a swelling de-
mand, which is not, however, likely
to assume proportions that will cause
any enhancement of values. The
Philadelphia mill strike affects only
1900 men. The mills in the interior
will contipue. Nais are 50. Rails,
s34 to $50. Forge iron, SIG. Foundry,
$l8 10 $40.
The strong upward movement in
wool on 10th sides of the Atlantic con-
tinues, and manufacturers here and
throughout New England, feel justified
in making extensive purchases for fu-
ture requirements. Nearly all labor
disputes have been adjusted and mills
and factories will run full time after
July 18th. The wool sales last week
were the largest for the year.
Trade conditions generally are ex-
cellent. A large volume of business,
that would have been done during the
second quarter of the year, will be
done this quarter.
The revival in building activity
throughout the country is general and
permanent, and all kinds OF building
material are bringing good prices. The
estimated increase in building this
year over last, is moderately estimated
at 10 per cent, while the commercial
failures have decreased 2 per cent. in
number, and 33 in amount OF liabil-
tiles.
The demand for carpets, clothing,
hosiery, blankets, silk aud upholstery
goods will be such as to engage all the
old and new productive capacity, and
will very probably stimulate further
expansion OF capacity in Pennsylvania.
New jersey, New York, New England
and at some few points in the cotton
producing States,
The movement in lumber has been
liberal and at steady prices. White
and yellow pine, spruce, hemlock and
poplar has been freely bought for pill
ing, as well as for urgent building de.
mands. The yellow pine supply is
increasing faster than any other, and
that wood commands strong prices.
The bard woods are all firm and
rather scarce.
The coal trade presents nothing
new. Anthracite is guarded. Prices
are weak. Cutting is going on. Labor
Is quiet, but disposed to make trouble.
Production is ], 100000 tons ahead of
last year. The Eastern bituminous
trade is heavy. Throughout the
Western States mines are running ir-
regularly and labor disturbances are
possible over the nonobservancs Of
recent wage slipulations. The full
consumption will increase steadily,
though the prices will remain about
where they are.
Railroad building, especially west OF
tllO hlcblbtlpplt Will bO vigorously
prosecuted. Rail mills have but little
room for orders for this years deliv-
cry. Randall's tariff reduction from
$l7 TO Sl3 would allow English rails
to be put down on the Atlantic coast
at $32; present mill questions, S34 to
$50. TIE increasing traffic and earn
ings on come twelve systems OF rail-
ways, aggrePating $4,000 miles OF road,
are strengthening confidence and lead
ing to more liberal expenditures by
railroads for material, new branch
lines, etc. English Investments are
increasing in certain safe properties.
The latest crop and provision mar
ket reports lean to declining prices,
but counteratting influences will very
soon develop themselves, arising cut
of the general expansion OF consump-
tive demand, which producing inter
ests are fully prepared to meet, with
prices sustaining caution.
The financial situation is the strong
eat factor and affords the strongest as.
surapce OF continued trade vitality.
The supply of money is equal to all
demands, but not large enough to in
duCe speculative movements, even
we're the producing capacity not so
abundantly qualified to protect the
consuming interests at every point.
~-.------------~-----a-l