The Providence news. (Providence [R.I.]) 1891-1906, 1893-09-23
THE DARK DAYS PASSING.
Great improvement In Trade Throush.
out The Country.
is AN ABUNDANCE OF MONEY,
which Has Enabled Manufacturers to
Start Up Business Railroad Earnings
slow on Increase-Nany Mills Resum-
ing and Orders Regularly Received.
is AN ABUNDANCE OF MONEY,

New YORK, Sept. 23-R G. Dun g.
Co.'s weekly review Of trade says:
There Is no longer only microscopic or
sentimental improvement that cannot be
measured. Some increase is seen both in
production and distribution of products.
True, it is small at present. but after the
worst financial blizzard for years it is not
expected that all roads can be cleared In a
day. But all conditions, except at Wash
ington, favor gradual recovery. Business
goes on with the unquestioning conf
dence that the desire of the people will in
some way prevail.
Money has become abundant and easy
at per cent here on call. and stagnant
speculation fortunately favors greater
freedom In commercial loans. Stocks and
products are dull without serious fall In
prices, the industries are rapidly rallying
TO make good the scarcity of supplies
caused by weeks of inaction, the vitality
OF the demand for goods shows that the
wonderful consuming power OF the people
II less fed for q time has not ceased, and
the shrinkage in the record of commercial
disease aud mortality shows progress to-
ward health.
Everything Looks Bright.
Mon etary conditions favor the revival OF
trade and industry. While renewals are
as large as ever, commercial loans are no
longer unknown. Foreign trade grows
more favorable. Stocks have been ex-
tremely dull, having 80 far discounted inn
provemcnt expected frau action on the sill
ser bill that few wish to buy, while not many
desire to sell. But prices have slowly set
tied ahnut SO cents per share, though the
general impression regarding the crops
has grown more peaceful.
The volume of domestic trade is still be-
low that of last year. In clearings outside
New York the decline is 267 per cent,
against % per cent at all cities last week
Better indications are appearing In rail-
road earnings. The indi cations are giving
strong proof that consumption of goods
was not as much arrested as many feared
when the collapse Of trade and manu-
facturers came. a.
While manufacturers show extreme eau
tion, and decline to start work without
orders, piling up goods at their own risk,
improved financial conditions enable them
to accept many orders which would have
been or were refused weeks ago, and actual
orders are rendered frequent by the ex-
haustion Of retail supplies in many direc-
tons
But Few shutdowns.
The number OF works resuming this
week has been ~ least 5Sl,wholly and "a
In part, against only IS concerns men
toned as having closed, and eight reduc-
ing force. The gain has been greatest In
cotton, where some goods touched the low
est prices ever known. But it has been
In wooden manufacture this week, many
concerns having orders not only for dress
goods and specialties. but some for mems
goods.
The manufacture of boots and shoes also
improves, with urgent demands from
dealers, and shipments from the east show
decrease Of only 10 per cent against over
30 per cent for some weeks past. The in
dustry which shows least actual gain is
the manufacture of iron and steel, where
the only changes In price are downward,
and, In spite of the great decrease in pro-
duction, the consumption seems to have
shrunk even more.
Failures for the week number only 3l9
for the United States, against lss last
year, and in Canada 40 against % last
Eear.