The Big Stone post. (Big Stone Gap, Va.) 1890-1892, 1891-05-15
THE BUSINESS OUTLOOK.
The Situation Hopeful but Trade Is kept
Back by Disturbances In Europe.
A WORD FROM CLEW IS.

| New YORK, May l3--R. G. Gun q Go 5.
weekly review Of trade says: The fnan-
cal markets Of the world have la grippe
disease mported from Russia, the New
York variety by way of London, the
struggle TO sustain Russian securities
against the dsiayor Of Rothschids, the
demand for gold by German bankers, and
Tie threatened withdrawal OF Russian
gold from deposits in England. France
and Germany, account for much of the
unusual movement Of specie, which has
been in progress. But accounting for ii
does not stop it, and the actual outso Of
about fourteen million dollars in April
and Tot far from twelve million dollars
already for Twelve days Of MAJ has caused
some weakness in he markets.
The advance Of onc-ha!f Of one per
cent 1T once in the rate charged by the
bank of England is right: regarded as
notification that England means to forify
itself in this great struggle by drawing
gold from New York. This sudden de-
mand comes at 4 season when this market
can spare gold with less Inconvenience
than at AIRY other, and the continued
issues OF silver notes make the withdraw
al from circulation less felt though the
fact that II per cent Of customs received
at New York arc now i'll silver paper.
shows that the remedy cannot last always.
MAY starts off with Il plunge in spccu-
latiyc prices. which has for some weeks
been anticipated Wheat fell - cents in
as many da vs., much to the disgust Of men
who have been predicting Il famine before
July.
1t is still fact that the possible de-
mand next year on account OF The failure
Of crops in France and elsewhere, has TO
meet il al exceptionally favorable pros
pcct here, while export demand for wheat
this wear, even since prices have broken,
is not large enough to prevent the carry
ing over Of the great unsold surplus next
Juy. The sales here last week were but
s. million, but viii! net decline Of 33G
cents, and while corn has declined ) &c
in sympathy, many spectators have SUI
tcrcd The sales have been but i ,CO0,-
GEO bushels The stock market has been
weakened ~ the gold movement, il spite
o: ;he very harmonious meeting OF Che
Western traffic Association that would
doubtless cause II strong advance in
prices, were the fear Of ! heavy out@o OF
gold and possible disturbances in Europe
once removed.
An clement Of strength is Accumulate
ing evidence that the wheat prospect at
the west is remarkably good. Iron
already feels The siiticn;nS influence and
some kinds and grades are 3 shade higher
than wee, ago, with larger buying Of
pig iron st unchanged prices. The de-
mand for structural iron is for the time |
lesscned bycxtcnsiyc strikes in the build |
ii.:, trades. bu; for bar and plates there is
more demand Wool is scarce. and the
manufacturer not inclined 10 activity
until the new clip comes forward freely. |
At Philadelphia fine wool is > cents lower,
and the trade in liquors. tobacco. oil and
cigars is quiet in drugs good, and in
chemicals and jewelry fair. with improve
mcnt in paints.
Collections are on 4 whole somewhat
improved, but there is yet much COM
plant. At Piltsbrrg slight improve
mcnt is seen in Dcsscmer and some Kind
Of manufactured iron. New Orleans re-
ports fair trade with cotton in moderate
demand at somewhat better prices, and
sugar active bat lower. AT Savannah
trade falls OFF some but prospects are
bright and at jacksonville business is
brisk and hopeful in all branches. In
short while the present trade is not quite
rs active rs usual the outlook would be
highly encouraging hut for foreign and
money uncertainties.
Failures for the week PIP, for the cor
responding week last year, leJ.