Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1889-12-19
4 SLIGHT DEPRESSION.
THE OPEN AND UNREASONABLE
WEATHER CAUSES UNEASINESS.

The Effect Especially Marked in the
Clothing Trade, WooIen Goods and
Heavy Boots and Shues-BuiIding
Operations Unusually Large-Kea:thy
Situation in the Iron TrIde-No Fears
of Monetary Difficulty.
New YORK, Dec. 14.-R. G. Dun &
Co.'S Weekly Review of Trade says:
But for one thing the business reports
received this week would be exceptional
ly satisfactory. Among all the reports
received there is not one that does not
mention the mild, open and unseasona-
bic weather as accounting for some de-
preston in one or more branches of
business. The effect is especially marked
in the clothing trade, which has not
results of the last open winter, and at
Philadelphia it begins to be feareI that
some misfortunes will occur unless
good winter weather comes soon. The
trade in woolen goods and in heavy
boots and shoes is also retarded, and the
anthracite coal trade even more serious
ly, though suppression of detailed
weekly reports leaves much to the imagi-
nation. On the other hand there is
some compensation in the fact that the
open weather has enabled building
operations to be carried on longer than
usual, and the activity in that large de-
partment is almost unprecedented at
many points, notably at Philadelphia,
where real estate is also active, and at
Boston, where the rebuilding after the
fires there and at Lynn causes special
demand for materials. The holiday
trade has also commenced early and is
of unusual magnitude thus far, indicat-
ing that the millions have had pros
porous year and are inclined to spend
freely.
Trade at Boston.
Trade at Boston is, OH the whole, very
good, and for December thus far fully
equal to that of last year. The whole
sale trade in cOttens is hardening as to
prices, and while heavy woolens thus
far opened are at last years quotations.
the most popular and best makes are not
vet offered and in them some advance is
still hoped for The boot and shoe trade
is satisfactory, with all available fac
tories employed. Philadelphia carpet
mills are also full, but at prices which
leave narrow margins, and wool manu-
facturers are working short time. The
grocery trade there largely exceeds last
years at firm prices.
At Chicago the grain trade exceeds
last years, the trade in provisions has
nearly and in butter and cheese quiet
doubled, while tht re is some decline in
hides and a heavy decrease in wool
The feeling is confident and such depres-
sion as appears is consid red temporary.
In nearly all lines business is large at st.
Louis. The steady increase in clearings
has continued for months and the or
ganization of a new national bank, with
the reorganization of three of the larger
banks under national law and with in
creased capital, indicates business ex-
panSion.
The Sit sation Healthy.
Strong evidence that the situation is
healthy appears in the returns of iron
furnaces for Dec. /, which shows a
weekly output of 1863. 151 tons against
1865. .225 Nov. l, and 14S. .913 a year ago.
With an output at the rate of $3.50, 900
tons per annum iron does not yield in
price, though it is admitted that heavy
sales have been made at figures below
Philadelphia quotations. and in many
instances probably at $40, with guaran-
tee against loss if prices fall. 1t is hoped
that $50 may be established for the COM
ing year, but there is some evidence of
uncertainty in the market for bar iron
and other finished products, though steel
rails are firm at $35. Advancing prices
are noted at Pittsburg and great activity
in ore at Cleveland, where it is stated
the entire Lake Superior product for
next year has been already sold, the
Bessemer at So per ton. The cotton
manufacture continues undisturbed and
though receipts and exports of raw cot
ton both fell below last year for this
week, the price is unchanged. In spite
of the effect of unreasonable weather on
woolen manufacture, the sales of wool
at Boston were exceptionally large, A.,
Oh. 200 lbs. at firm prices, with signs of
improvement in delaines, Ohio and
Michigan.
No Fears of Monetary Difficulty.
Fears of monetary difficulty have
faded away, but the market has not
grown easy as yet, nor have reinforce
ments come from any quarter. Foreign
exchange indeed is shade stronger than
a week ago. The treasury has managed
to avoid accumulation, and holds $780,
600 less cash than on Friday last, but
there is thought to be some prospect that
speedy action on the tobacco tax may
cut down the revenue without waiting
for the general revision of tariff and tax
laws