The Asheville citizen. [volume] (Asheville, N.C.) 1885-1889, 1888-01-08
PENN8YEVANIA WORK.
MEN TALKING OUT
IN MEETING.
The CarIisle-Tla0ebe Contest
Before the t,Ommittee-E
IraOrClinary Charges and
Statements.
AND OTHER INTERESTING NEWS
FROM ALL PARTS OF THE
WORLD.
Business. Outlook.

New YORK, Jan. 6.-R. G. Dunn
& Cos review of trade for the week
The past broken week has not been
one of great activity and the year
opened with some reaction in most Of
the markets. The Reading strike has
become more serious than expected.
The miners committee claims that
10000 miners and $4,000 railroad
men are out, and though the state
ment is plainly exaggerated as to the
railway hands the suspension Of min
ing appears to be nearly complete in
Reading as in the Lehlgh regions. In
spite of December'S large output,
stocks at Tide Water are low and the
stoppage Of supplies of coal threaten
to close some manufacturing works.
The iron market is already dis
tinctly sitter, because Of the possible
closing of furnaces, and the Thomas
Company has not announced its
prices. Sales Of 5000 tons Of south
ern iron are reported with some weak
ness in bar iron, and little improves
ment for the prospects for rail manu-
facture.
All speculative markets have expe-
rienced some reaction, except for tin,
which is firm at half cent advance,
and which is quoted slightly lower.
The bad breaks in copper stocks
abroad, with a quick reaction, was
followed by heavy failure and a
panic at Paris. Oil mounted to 97c
on wednesday, broke suddenly 20
955 and has since risen again. Pork
and lard have declined little and
cotton ons-sixteenth. Coffee is de-
moralized with no spot quotations,
and loss of nearly 1c in options.
Breadstuffs have been weaker, though
corn is still a fraction above last
weeks prices.
The first week of the year opens
with fewer failures than were antici-
pated and with fair business for the
season at all points reporting.
The money markets are generally
easier and complaint Of collections is
less frequent. The dividends de-
clarsd by the banks and other tinan-
cial institutions were generSlly up to
expectations, but mucn Of the money
appears to have been anticipated in
previous investments.
Next to the iron industry, which
hesitates, the woolen manufacture
seems to have the most uncertainty.
Raw material has declined about 1c.
in December and 2 to Sc. since July,
though coarse wool yields least, and
the largest decline has been in fine
fleece. Estimates of the clip vary
widely. The cotton manufacture is
exceptionally prosperous and fancy
prints have advanced to 81 cents ;
some makes of brown and bleached
goods have advanced and print cloths
have risen to 81 cents.
Foreign trade continues large, ex-
ports showing only 3 $40 per cent.
decline for five weeks at New YORK
and imports only $40 per cent. de-
cline in comparison with the enormous
business of last winter.
The treasury has put out $780,
900 in gold and 100000 in silver
since last week, and it increased Cir
culation of all kinds of money $14,-
100000 in December and $G2, 100000
during the last half of 1887.
But for the miners strike and the
threats of cotton spinners, who claim
that higher wages were promised when
goods reached present prices, the out
look would be more favorable than
for many weeks past.
Business failures occurring through
out the country during the last week
number, for the United States, 256
for Canada, %; total, 279. against
263 last week. The figures for the
first seven days of 1887 we're: United
States, 271; Canada, %; total, 299.