, 1890-12-25
THE STATE OF TRADE
r.. q. Dun g. Co.'s Weekly Re.
view-General Business Out
look More Hopeful.
The Money Market Will Be Gloss
Uutil After january l-Load
Market Demoralized.

The outlook for general businqx
Is more hopeful, and the weekly ~
view OF the general condition Of
trade as made by the local branch OF
II. q. Dun's mercantile agency
shows the following;
'Stocks again reached the lowest
prices this year on Saturday of last
week, and have since recovered on
account Of better monetary condi-
tions and the hope that meeting of
presidents next week may adopt
radical measures of provement.
But the past disturbance and con-
tinuing uncertainty are felt in re-
duced volume of business through
out the country, which, though
slightly larger than year ago, no
longer shows the material increase
until recently maintained.
"There have been numerous fail
ures, and Is still much pressure, but
the supply of money has 80 inn
proved by treasury purchases of
bonds and by shipments Of gold
from Europe that there Is more
ground for confidence and some act
ual improvements. Until after JAN
uury | not much relief Gun be ex-
pected, and fears of unwisc legisla-
tion continue to cause much with
drnwal of money from active Use.
"Treasury payments for bonds do
not yet appear in statements of
cash, which show no loss for the
week. The most significant fnct Is
that very large proportion of the
money was taken In gold by the
sellers of bonds, presumably for
withdrawal until uncertainties
about silver legislation have passed.
But the fall in foreign exchange and
the movement of over 5000, ,00C
gold to this side show disposition OF
European investors to take some
properties here at current prices.
The commercial troubles outside of
monetary stringency are mainly
due to excessive purchases made in
anticipation Of n great rise i'm prices.
Those who made such purchases, in
the belief that In spite of the ex-
pected higher prices and the short
crops, consumption would be as
great as ever, find themselves em-
barrassed by distinct shrin kage in
the distribution of products to con.
sumers.
''In spite of the continued declind
in cotton the South reports fair
business. The supply of money IL
ample for necessities ut New Or
leans. but Mt other points money Is
tight, though banks help their Gus.
toners ~ far rs they can in lcgiti.,
mate business only.
"Cold weather has helped Hanss
City out on the cattle aud ho
market, and marked rise Ina
been noted in Cincinnati, Detroit
and other points.
"Chicago business continues much
larger than last year. being little
affected by Eastern troubles, and the
receipts of most products show in-
crease. AT Pittsburg the woist is
thought to be over, and money and
collections are easier, though iron
has declined, and there is less de-
mand for manufactured products.
Philadelphia notes little Improves
ment, though jewelry is active at
narrow margins of profit, and less
complaint than was expected IA
heard in the clothing trade; bur
wool Is extremely duh, us may be
inferred from the fact that the b,,4lz
ness in shoddy Is very large, its use
ing. The shoe trade notes sharp
h,Iling of, especially In Southert
demand, attributed to failure inl
distribution after the large sales
made when prices were rising;
Boston observes improved demand
for leather at the lower prices, and
retail dry goods active for season-
able products, but wool sales ara
small and wholesale trades generally
quiet.
Iron production increased in
November, reaching 1SS, $40 tons
December /, gain OF nearly 5000
for the month, and over IA 900 cOn1
pared with last year. Several newt
and large furnaces havo gone into
blast, but later dispatches show that
within two weeks u number have
stopped production, and one South
ern establishment has failed.
Quotations aro lower, SIS for North
ern and Sl7.25 for Southern No. /,
with rails lifeless, and decidedly
less demand for iron plates. Stock
Of unsold iron ut furnaces are In
creasing, 30 that curtailment OF
production seems to be unavoidable.
The wooden manufacture Is doing
decidedly better than year or six
months ago, but heavy woolen
opens at last years prices. The cot1
ton manufacture Is less satisfactory,
and some works are suspending
productions, print and cloths have
fallen to 3 cents for Gas.
"The speculative markets have not
not been very active, but wheat has
risen 4 and corn 2 and oats cent.
Pork products are unchanged; cot
ton u sixteenth lower; oil q cents
lower, and coffee lower. The rise
in breadstutfs is not sustained by
foreign demand, exports falling fur
below those of last year, week by
week, nor by prospects for the mex
crop, since state reports generally
show increased acreage of when
aud excellent condition. Til, ha'
risen half cent during the week
but copper is of uncertain price,
offers at Is for Lake being unavaill
ing, and the market for lead is thor
oughly denoralized by importation
of 5000 tons ut the recent spec'
lative prices"
ra,a ~ hoa ax.o.I