The Washington critic., 1890-03-29
STATE OF TRADE.
Condition of business Before the DTS
nstrous storm Game.

Condition of Business Before the Dis
astrous storm Game.
New YoRK, March 20.-R G.. Dun
& Co.'s weekly review of trade will
say; Until the severe storm of Thurs
day, which swept over Western and
central States, doing damage at Louis
Vile and some other localities which
cannot yet be estimated, the weather
for the past week has been favorable
for business. At Cleveland, Detroit,
Chicago, Milwaukee and Omaha some
improvement in the volume of business
was seen. At st. Paul trade was some
what quiet; at Kansas City there was
no marked improvement; at St. Louis
the volume of trade Is fair; at Louis
vile all communication has been cut
off by n tornado, which has caused
great loss, and at Pittsburg both the
iron aud glass trades are depressed,
with no change in coal.
The money markets of the interior
are fairly supplied. Advices as to for
eign money markets are also favorable.
Payments through banks at the differ
ent cities continues to show great in
crease over last year. Movements of
products make It certain that at least a
considerable part of this increase is due
to expansion in legitimate trade. In
general, the markets are much less dis
turbed by speculative excitement and
manipulation than Is usual
It can hardly be said that the indus
trial situation has improved, though
something like rally in the iron mar
ket is reported at Philadelphia. But a
speculative block of 100000 tons, said
to be held by a leading firm in the cop
per trade, is hanging over the pig iron
market, and at the same time prices Of
Alabama and Virginia iron are weaker.
Pittsburg also notes fall of twenty-five
to thirty cents per ton, and prices of
manufactured products. are weakening
there.
Lower quotations are made for rails
ut the East, below $3f so being named,
and bar iron is pressed downward by
offerings of Western mills. The sales
of wool here and at Philadelphia show
no improvement but at Boston manu-
facturers appear to be increasing their
purchases. No improvement is seen in
woolen goods, and sales of cottons are
such as are usual at this season. There
are well known circumstances which
account for much of the uncertainty
In business.
A proposal to change duties on any
article, whether it be wise or unwise,
has tendency to arrest the disposition
to trade on one side or the other, and
the tariff bill about to be reported at
! Washington will alter the conditions in
q great number of trades. The artificial
control of output of prices by any com.
bination has the same influence where
ever it is believed that the power Of con.
troll is strained and may soon collapse.
The great increase in humber of such
combinations within the past two years
affects many trades. Within more
limited sphere, the apprehension OF
losses resulting from the mild winter
affects some trades. But these causes
are not Of a permanent nature, and the
volume of trade nevertheless in progress
has never been surpassed at this season
Failures during the last seven days
mum Der, for the United States, 217; fol
Canada, 26; total 243, as compared with
255 last week. For the corresponding
week of last year the figures were 204
in the United States and 90 in Canada