The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-05-05
BUSINESS UNSETTLED
IN CONSEQUENCES OF TIE EIGHT
HOUR DISPUTE.
But There Is Reason TO Believe That
IFS Settlement VIII Stimulate
Trade In All Directions.
[spKnrAr. m rnr .rrr,t.l


ers and business men as to the imme-
date industrial business future Of the
country. One is that the eight or
nne-hour day TO be inaugurated will
carry away enough capital and enter
prise 30 precipitate a semi-panic upon
the industries and business gensr lly.
The other is that the settlement Of
labor disputes, the fixing OF wages
and the satisfaction that will grow
out Of the disposition OF all veXing
questions will strengthen confidence,
increase investments snd lead 20 a
gene al improvement in business. a
few days will throw light upon these
opinions. just at present a great deal
of uncertainty exists Us TO the out
come. Early in the season it was evil
dent that vast amount OF money
would be expended in house and
mandatory building, in the exten-
sion # plants, and the improvement
Of capacity Of all kinls. The i'm
proveinent was begun, but matters
are now at standstill in
many departments Of indus
try. In the iron trade, bust
ness is only STEADY and
prices inclined to weakness. Nails
have declined 10 ceats pr keg, bar
non s. TO 81 per ton Steel rails are a
little weaker than three months ago
and in general quot tons are a little
of, although the consumptivc dc.
mand is large consider ng all the sur
rounding uncertainties. Contracts
for 10000 tons of bridge iron were
placed this week for export Bridge
bulldog contracts for bridges across
the Mississippi Missouri and Ohio
riv rs will call for Between $4,000 and
10000 tons OF material this year
and Likely to be placed in me
TO impart needed vitality Rail
road construction so far this year 70 IS
up 600 miles as against $40 miles for
the same time last. The pipe ssclp
mills are crowded with orde The
pig iron production is over 10000 tons
ahead of this time last year and stocks
are light.
The textile manufacturers Of the
New England and Middle STATES are
quietly organizing TO protect th.m-
selves against the invasiona of labor.
and large sums of money have been
put up, particularly in Massachusetts
and Rhode Island, for the purpose of
torowing a certain percentage of pro.
ductive capacity idle where strikes
take place, for the double purpose of
restricting production and throwing
strikers idle without explanation.
II is probable that the action of the
New York Chamber of Commerce. in
giving expression to its views upon
the labor question, will be followed
by Boards of Trade and Chambers of
Commerce in other cities, should
the eight-hour reduction prove
general Employers are apprehensive
that much of the business waiting TO
be placed uron the market will be
driven off, and that the summer de-
mand will be a dull one.
One of the effects OF this suspension
Of activity would be a Weakening in
prices, a curtaiment of production
and an increase in the number of
failures, which for several weeks have
been declining in number and inn
portance.
The anthracite coal trade is very
active and employers are hopeful that
the threatened strike will not take
place for some weeks to come
Bituminors coal is scarce and dear in
Eastern markets, and the demand for
coke has increased from 10000 to
1900 tons per day.
Tray ling agents representing East
ern manufacturing interests in the
West and South report fair prospects
for the summer and fall shipment
provided no further industrial IN
certainties arise.
Railway earnings continue light
and rattle lighter and confidence in
railway treat Sc weak.
Wool is declining in value under
increased importation and uncertain
ties as to the fall demand for wooden
and worsted products.