The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1893-07-26
CONDITION OF TRADE.

Business throughout the country Main-
tained In Spite of tho Financial Strain
Banks Generally In Healthy Condition
Review OF the Situation.
New YORK, July 22.-R. G. Dun q
Co.'S Weekly Review of Trade says;
This week the country has withstood
surprisingly well an extraordinary
strain. Tho failure of many banks and
firms, of a great iron syndicate and
other companies, the remarkable fall
in stocks and the closing of some i'm
portant manufacturing establishments,
have come in spite of relaxation in
eastern and some western and south
ern money markets, Denver banks
were overthrown largely by the crazy
unwisdom Of the people, and several in
Kansas have gone down, but in most
cities the statements just published
show the banks In healthy condition,
and there has since been noticed more
readiness to extend accommodation.
The great depression in stocks came at
time when easier money, some re-
turn of currency from the interior and
beginning of gold imports from Eu-
rope made many hopeful.
The closing Of many manufacturing
establishments is the result of great
shrinkage in orders for some time past
and uncertainty regarding the future.
Gloomy crop reports by the department
also contributed to check reviving
hove, TTnJar oil tba oo, 1;t;ooe q F;e
astonishing that business has been so
well maintained with so little evidence
of unsoundness.
Even while cotton and wooden mills
were working overtime on past orders
the scantiness of new orders was no.
ticed and the great frequency of can
cellations.
In dry goods cancellations are still
numerous, sales of mems woolens are
not commensurate with stocks pre-
pared, and orders are small and mainly
for low grade goods. Some improve
ment is seen in dress goods, but cottons
are dull and print cloths and brown
goods lower. Sales of wool are remark
ably small and shipments of shoes fall
far behind last year. The stagnation
in iron closes some magnetic mines in
this state and New Jersey and most
mines in Michigan. The lake region
has never been more depressed. Coke
is moving downward, pig iron is mac
tive and though dealings in bar and
structural product are somewhat larg-
er, prices are the lowest ever known.
Boston reports no improvement and
hand TO mouth buying. Dry goods
backward, woolen orders limited and
the clothing trade slow. Shoes are
quiet, with buying slender. Wool is
more steady but sales small. Trade in
furniture and hardware is moderate
and becoming little more active as
local money markets are easier. At
Philadelphia dry goods are unchanged;
liquor, tobacco and chemicals quiet,
with slow collections, and wool lower,
textile manufacturers buying little and
carpet mills generally running short
time. Banks are holding currency and
strengthening themselves
An easier feeling prevails at Pitts
burgh in iron, glass works being closed
for the summer. The Cincinnati money
market is easier and Cleysland reports
grocery trade good, but other lines dull
and iron wholly inactive.
indianapolis reports no Improvement,
but banks in strong positions, and De-
troit quiet business with the outlook
not very cheerful
Chicago reports 10 per cent. decrease
in clearing, 25 in real estate and 0 in
eastbound shipments; active demands
for loans, but more free money lending
and better feeling,