Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-11-18
TRADE ON THE GAIN
DUN { CO.'S WEEKLY REVIEW


Co.'S weekly review Il trade tomorrow
viii say; Business u gaining. bat IL is .
constant complaint that the improve
ment 10 SLOW; this 10 bscauss very fes
realize bow heavy load business has 10
drag after IL In climbing up again. Leg
islstise uncertainties weigh heavily. but
other loads many overlook The past
depression. with trading and manufac-
turing failures. insolsing more than
tz5ooo0oo In nine months besides
banking failures Of enormous liabilities
and failures OF railway aud other firms.
inyolvecontinual embarrsssments.w hich
men are prone 70 forget. There has been
great encouragement dur.ng the past
week In the tact that the NossmDer pay
ments are far more satisfactory than
was feared, ard yet the sxten-
sions Of the rAonth would have
seemed alarming IN other years Mer-
chants who collect part d tue amount
due are rejoiced. but their buying power
10 not a. large a. usual The exIrsordi-
nary shrinkage in purchases for con-
Sumption. II lessening. has still made 70
impossible for many firms 10 60 on a.
before. and the largest failure OF the
last week--that OF the Thurber. Wyi 4
Compsny-illustrates embarrassments
which cannot be terminated IN a week.
Monetary difficulties no longer hinder.
liz Is true that the treasury cash has
fallen to S9l ..s6s. SO, Of which only $50
4yO.syl was 10 gold. hut there is no such
alarm as there was when the gold re-
serve alone went below sl0o.OU0.00o.
Business Is not leaning on the treasury.
and IL is well that it il not The re-
ceipts for the month thus far are about
s5,0O0000 less than expenses, and the
imports in October decreased about
S1O,0OO0O0. partly because Of inflated
valuation OF goods imported last year.
Weekly imports at New York decreased
in part from the same cause.
Heavy Export of Product&
But while the imports in October
were only s5l. Gal, 1872 and exports OF pro
ducts ga. 6o5. sl5, yet the enormous bal
ance on merchandise account brought
net imports Of only sl,U00.OO0 gold. The
exports represent large increase In the
quantity OF products sold. but at lower
prices. while in place OF merchandise
imported il is evident that there have
been large imports OF securities from
abroad. The banks OF New York hold
a great surplus and the fact now comes
out that IL the clearing house certifi-
Gates recently issued. three banks took
from s5.uOO,UO0 70 sI0O0.0O0 each. indi-
eating the magnitude Of clearings being
carried over. liz has not been much OF
week for speculation anu that perhaps
is encouraging. Stocks have steadily
declined, railroads averaging 33 cents
per share and trusts sl.2o per share. the
grange. and some on the trusts being
especially weak. The impression pre-
walls that earnings Of railroads must
decline greatly now that the passenger
traffic ~ no longer sustained by the fair.
burlington freight receipts alone de-
clined in October 1L2 per cent COM
pared With last year and ia the tirst
week Of November lQl per cent. and
although passenger earnings showed a
gain OF only l4.4 per cent against 2l.6
per cent in October, the decrease on all
roads was but As per cent for the first
week OF November. liz ls also 10 be re-
membered that the earnings represent
that part OF November ln which the
tendency To recovery Is lest apparent.
In produce markets, weakness vas the
rule aud yet the yielding was but small
Wheat Is quoted a full cent weaker.
though western receipts are about a
bait million less than usual. the Atlantic
exports being only 100000 bushels
against $4,000 last year. Corn h. l
cent lower with larger receipts Cotton.
with large receipts. IL an eighth lower.
Pork products are lower with large sell
inc aud cnffee Ia Ala lOWer
Manufacturing Resumed
The condition OF industries improves
but manufacturers usually await tho re
viyal OF purchases OF consumers
Twenty four works OF all kinds nave
wholly or in part have resumed. against
fourteen closing. yet less than half the
iron workings are now active. Clothiers
evidently begin 10 realize that they can
not get goods at all unless their orders
prevent general closing of the mills
early in December. La boots and shoes
there il decided improvement in spite
OF the fact that orders are smaller than
usual and most factories are receiving
orders, though not enough for full em
ployment shipments from Boston Tor
the week were only q per cent less than
a year ago. A little better tone 10 seen
in pig iron and large orders are reported
for cast pipe. But the whole business
IL stlll small The New Jersey Central
has suggested stoppage OF anthracite
coileries for two days in the week Ia
sustain the price. and there is said to he
general assent The decrease in the
volume % business through the clear
ing houses continues about the same
aud for thu past week II was ls.6 per
cent The failures for the week have
been 32i in the United States against