Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1892-02-13
NO. %.
REVIEW OF TRADE.
In Spite of Much Dizziness Trade
is Enlarging.


Speculation Ia Products More Active
with a Tendency to Lawer Prices
Advance in Foreign Exchange.
The business failures occurring throughout
the country during the last seven days, as re
ported to r. q. Dunn & Co, number for the
Unitsi Stairs 27S, and for Canada 40, or
total OF $40, as compared with the totals OF
29T last week and so the week
previous to the last For the corresponding
week of last year the figures were SOC, repre-
Senting 26i lures in the United States, and
a in the Dominion Of Canada.
In spite Of much duliness and complaint IN
some important branches, trade is gradually
enlarging. The East does not get the full
benefit, because Western business is largely
met by Western distributing csniers, and that
alone is increasing heavily, while Southern
trade, which is more largely met by d.siribu-
ton from the East, is unusually dull. But
the West is steadily increasing orders for
manufactured products, and is likely to buy
more largely In the next Eve months than
ever before. Eastern consumption IS also
fairly up TO the maximum, rs labor IS wei
employed. The stringeney at the South,
owing TO the over.produetion Of cotton and
hurtfu speculation in the past, is at present
the only force retarding the general improve
ment.
In financial and speculative circles, never.
the less, some apprehension appears because
OF the advance in foreign exchange from u 50
to S4S7 In spite Of the enormous merchandise
balances Ia favor Of this country. lis argued
that this shows very heavy withdrawal OF
foreign cal ital from the eoultry, because
silver legislation is feared or for some other
reason, and that In effect Europe will pay for
breadstufis and cotton needed by sirrendsring
titles TO American property.
Exports of merchandise continue to greatly
exceed last years Tor hye months at New
York, by about 81 per cent, while IN the
value OF the imports the increase Is very
slight The average price Of stocks after
several days OF depression, Is nearly VI per
share lower than week ago, tho so-called
industrial properties have been especially
weak; butthere is nevertheless much strength
and good buying by American investors for
sound stocks.
Al Philadelphia more orders are seen for
manufactured iron and increased business in
dry goods, especially in staples, dress goods
being sold far In advance, while wool Is quiet
with n fair volume Of sales
Wheat fell to go cents, but recovered over
A cent. and after sales Of %, 900, 900 bushels,
cent lower than a week ago. Western receipts
d minish, but exports diminish still more.
Corn closed only an eighth higher after
sales OF 10, O0O, 600 bushels, and oats higher,
but pork products are a shade lower. Cotton
is a sixteenth lower for spot and February has
sold below cents, rcc,ips continuing cnor-
nous Oh has fallen cents but coffee is
fraction stronger. In lead. trade is moderate
and IN TN tame, without change, but copper
is weaker; lake Al l0S cents. Silver has fallen
to about the lowest price ever quoted, 4l.5od
per ounce recovering slightly to il.62d.
The great industries make progress in spite
Of low prices and production which Eeemi
to threaten u reaction.
More activity is seen in dry goods and
large number OF Western buyers are doing 9
fair business. The demand Tor Spring goods
is growing, but clothers are still IN the dark.