The Washington critic., 1890-02-24
TRADE SLOWLY 1mpnov1Ns.
No Remark able Activity in Commerce,
but Confident Feeling.

While the prevailing impression in bust
ncss circles Is rather less confident than It
was week ago, say Mcssrs. II. u. Dun &
Co., Of New York, In their weekly review
Of trade, there are several signs of improve
ment. Cooler weather has caused little
more activity in some lines of trade, wheat
is little stronger, and without clearly de-
fined reason there is a flrmer tone in the
Eastern iron markets, while the reduction
in the Bank OF England rate from O TO per
cent, with It's large gain Of 81, 1915, 900 gold
during the past week, diminshes the chance
Of inconvenieut demands from abroad. On
the other hand, general trade is not increas-
ing in volume or In profits, and while its
soundness is indicated by the occurrence of
fewer failures than many expected, as the
result of phenomenally unreasonable
weather, the complaint Of slow collections
is common and rather increasing. The
clearpgs through banks at New York fell
below those OF the corresponding week last
year 52 per cent; at Boston, Philadelphia,
and Chicago together the increase was
hardly per cent, and at all other cities
only about per cent, q considerable de-
cline from the recent rate of gain.
Business at Boston is rather quiet, duh
as to- wool, with prices favoring buyers
more active in dry-goods, with cottons very
tlrm, but moderate In woolens; hides are
dull and domestic weaker, and the shoe
factories are not all fully employed. At
Philadelphia the dry-goods trade is not
what it should he for the season, con-
servatisn prevailing, though retail trade is
better and good spring trade expected.
Wool sells slowly; coal is very dull hard
ware dull; the liquor trade fair; tobacco
quiet, with slow collections, and the grocery
trade generally depressed, with collections
very poor. At Chicago grain receipts ex-
coed last years, and receipts of beef pro
duets and lard are nearly or quite double,
with gain Of 80 per cent. In cheese for the
week. and some Improvement in hides aud
WOOL, put no cnange is seen Ill clothing,
though the dry-goods trade compares fairly
with last years, and the shoe trade is only
fair. Cleveland notes fairly good trade,
but the bad condition of country roads
affects collections though in some lines
they grow better. Detroit observes fewer
failures than were apprehended from the
mild weather, but at Milwaukee extended
time has been given on many large ac-
counts, and cold weather has come too ate
to clear the stocks in many country stores.
Fair reports come from Omaha st. Paul
and Denver, and, indeed, from most west
ern and southern points; but at Kansas
City trade is rather inactive, and at Pitts
burg iron is weaker, because of the IN
creased Southern competition, with duller
coal trade, but good business in glass
The foreign trade of the country is not as
favorable as it was Two months ago. The eX-
traordfnary outgO of cotton has passed, and
exports in January show an increase in that
item of 81 500, 900 and in all the principal
items of about S2,000,000, which indicates
an excess of exports over imports of about
SlO,OO0,OO0 In three weeks of February
the exports from New York show scarcely
any increase, and the imports an increase
OF only 3 per cent, indicating thus far an
excess of imports. Wheat exports are still
above last years, and the price has risen
% cents with reports of injury to the grow
ing crop. Corn exports largely exceed last
years, and the price is a quarter lower,
with oats cent lower Cotton exports
this week have been $4,000 bales larger than
year ago, but for the month thus far 3d.
GOO bales smaller, but speculation has
pushed the price still higher by sixteenth.
Fork products are steady and moving out
ward fairly, and oil, after decreasing mil
lion in value OF exports in January, has de-
clined II cents for the week. Speculation
in coffee is stronger at 90 cents, but sugar
has not changed.
1t Is difficult to account for a better tone
which clearly exists In the iron market here
and at Philadelphia unless it be due to hope
that Southern iron, which is now moved
from Sheffield at $3.50 per ton to Pittsburg,
and selling there somewhat largely, may
hereafter affect Western rather than East
large that serious question exists as to the
adequacy of the demand, and yet the re-
sumption of work at the old wages by the
striking coal miners in Alabama will put
three large new furnaces into operation
speedily. For Bessemer pig there is no de-
mand at Philadelphia, the bar market is
not satisfactory, the plate and structural
mills are still busy on old orders, but doing
little new business, and there are reports Of
steel rails offered at less than S35 NOR ron
The woolen manufacture has not percepti-
bly, gained, and sales of raw wool at Boston
were 2,370,0O0 pounds, with weakness ex-
cept for Australian and some qualities of
domestic. The cotton manufacture is ac-
tive, but must soon feel the high cost of the
material.
The local money market has been easy at
unchanged rates, although the Treasury
has taken in since last Saturday $2, 400, 900
more than it has paid out, and interior eX-
changes with some cities are adverse. 1t is