Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1890-01-02
CNSEAS0NABLE WEATHER
THE PRESENT STATE OF TRADE NOT
QUITE SATISFACTORY.

The Pressure for Money at the East Makes
d. the Dizziness Border on Depression.
Rosy-The Coal Trade stagrant-On
the Other Hand the Iron Business
Continues to Prosper.
NEW YORK, Dec. 2s.-R. G.. Dun &
Co.'S Weekly Review of Trade says:
A pause in business is usual at the end
of the year. But this year unreasonable
weather, and much pressure for money
at the east, make the dullness border on
depression. While prospects for the fu
ture are generally regarded with great
confidence, the present state Of trade is
not quite satisfactory, and in some
quarters the delay of collections causes
fear of commercial embarrassments.
This is more particularly noticeable in
the clothing and furnishing trades at
Philadelphia, and in many lines of bust
ness at Cleveland, Detroit and Milwau-
kee. Sales of dry goods are also falling
off at Chicago, though payments are re-
ported good, and the clothing trade there
is dull and the shoe trade quiet. But at
western points, with scarcely an excep-
ton, the open weather and bad condi-
ton of country roads are noticed as
causes of unusually slow collections. In
other respects the reports of trade are
generally satisfactory. The holiday
business has been large at nearly every
point reporting.
The Coal Trade Stagnant.
The weak points of the situation are
those trades which are most affected by
two successive mild winters. The an
thracite coal trade is stagnant, in the alb
sence of demand. and the situation is
almost without precedent. More than
half of the Reading coal mines have
closed, throwing 5000 miners out of
work. and it is stated that 10000 miners
are working on three-quarter time. The
bituminous- coal trade is more active,
but lacking cars.
No definite relief in the woolen goods
business can be expected until pro-
longed cold weather has caused well
sustained demand, and the clothing
business in all parts of the country must
necessarily depend to a great extent upon
the weather. To greater or less extent
many other kinds of business are
disturbed and sometimes put to strain
by absence of the demand incident to
the season, and in all quarters the delay
of collections is felt.
On the other hand, the iron business
continues to prosper. Though sales of
pig are not very large, prices are very
firm at Philadelphia and $3.50 is
quoted here for No 1. Sales of $4,000
tons steel rails are reported, with the
price steady at S35 east and $780, % at
Chicago. Bar iron is firm at 2 cents,
and confidence in the future is in all
branches of the iron and steel business
copper has enabled the syndicate to ad-
vance lake to IA 1-2 with sales of $50, COO
pounds. but lead is quiet at S3.S7 and
tin has been depressed at London by
speculative realizing, being quoted at 81
cents here.
The Speculative Markets.
In speculative markets there has been
little change, except in corn, which has
dropped 2 1-2 cents. Tight money con-
tinues here and at Philadelphia, and re-
Taxation is not to be expected now until
after the January disbursements. These
are expected to give at least temporary
ease. The November exports, according
to official reports just completed. ex-
ceeded imports by the unprecedented
sum of S34, ,653, 716, and at New York in
December the exports show a decrease
of 81 per cent. while imports increase
% per cent. but even at this rate the
excess of exports for the whole country
would be over S10, 0,000,00O. The treasury
is so conducted as to sustain the money
market as far as practicable. and s., ,200,-
600 has been paid out in excess of re-
-ceipts this week. but the movement of
$40, 600, 900 cash from the treasury and
the banks to the west and south since
August makes the present stringency
by no means surprising.
Business Failures.
Failures during the last seven days:
For the United States, 249; for Canada,
80: total, 2S8. compared with 342 last
week. For the corresponding week of
last year the figures were 276 in the
United States, nd % in Canada.