Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-03-03
BUSINESS MEN CAUTIOUS.
OPERATIONS EVERYWHERE SLOW
AND ClRCUMSPECT.
The Bill Authorizing Bond Purchases
Having Passed tho House Has q Bene-
ncial Eject, But Fear of the senate
seems to Neutralize it.

NEW YORK, March 3-R, G. Dun & Co.'S
weekly review of trade will say: Actual
business is satisfactory for the season.
Prospects are confused and uncertain-in
some directions promising but in other
branches of large Importance decidedly
clouded. The passage by the House OF the
bull authorizing bond purchases WAS de-
signed TO remove the monetary uncertain
ty, an influence which affects all trade and
industry. Whether the Senate will pass
the bill in its present form is not yet GER
tam. Lower prices Immediately followed,
and the average decline in the stock
market for the week has been
about one dollar per share.
The western railroad wars and strikes con-
tinue 10 disturb business. Because of cuts
by Canadian lines, the eastern trunk roads
announce reduction of 10 per cent. on
east and west bound rates March 5th and
efforts TO settle the western war were de-
feated on Thursday by the st. Paul. Only
partial revival of traffic on the Burlington
road has been attained. While earnings
OF railroads continue to show that a guam
tlty of freight for the season in motion. the
rates are dropping and expenses on many
lines increasing; the Pennsylvania ad-
Vsnces wages on western lines 10 per
cent An important cause of uncer-
tainty in many branches of trade is
the movement to change the tariff.
Whether proposed changes are deemed
desirable or not, those who think them
probable are for that reason moved to defer
business operations. The bill submitted
on Thursday would affect so many indus
tries and branches of trade that individual
opinions, favorable or unfavorable to il,
must considerably influence transactions
while 1t remains pending. 1t came at
FNanA -lAr, T.. Al :.
hesitation on most of the branches chiefly
concerned and increases that hesitation.
1t is . Characteristic of many trades at
present, that purchases and operations are
for one reason or another limited to present
necessities. In the boot and shoe trade,
which il otherwise exceptionally satisfac-
tory, there are some such indication. as to
women's and children's goods In the cot
ton the recent signs of halting may be at
tributed to the unusually large dealings in
the past. In the sugar and numerous other
trades the operations Of trusts or combina-
tiOns cause uncertainty. The coal bust
ness, since strike, began to collapse, has
been marked by only haad to mouth deal
ing,in doubt as to the future output.
The prices of wool are steady, with Ohio
* at 80 and buyers have been operating
with some freedom but any advance has
been resisted and the officials of the pro-
posal to change duties are not yet seen. A
large failure in the lumber and salt inter-
ests in Michigan, following the remarkable
shrinkage in demand for iron ore, indicates
that the prospect in that region is not
wholly unciouded. Elsewhere the iron
trade is he,itating, with somewhat lower
prices at Pittsburg, while Youngstown
works resolve TO close unless better rail
rates enable them TO meet Southern compe-
titions. In the east the supply increases
while orders halt. No unfavorable indica-
tions appear in reports of trade or of col
lections in any part Of the country.
Money IS everywhere comparatively easy,
though at Boston and other important
points il is felt that arrival.of business actiy-
ity would soon be followed by some pres
sure. Southern trade is clearly improving,
and ther' nre signs of renewed real estate
activity at some western points. The Treas
ury had returned by banks 81, 400. 900 of its
deposits during the week and in all took in
s., 900, 900 more cash than it paid out.
For the month"; Of February, debt
tirely through increase in cash on tand,.
though S. O00, 900 was paid for surrendered
bank notes and the bank circulation dimin-
ished s., Us, 300. The volume of trade rep
resented by payments through clearing
houses is about 2lz per cent larger than
last year outside New York, but with
noticeable losses as Boston, Philadelphia,
Baltimore, Cincinnati and Kansas City.
Business failures during the last week num-
Der pa. as compared with 229 for the cor
responding week Of last year.