Iron County register., 1893-11-02
THE STATE or TRADE.

THE STATE OF TRADE.
The Condition of Commercial and FInan-
ciaI Affairs Throughout the Country ~
Reelected Through r. @. Dun = Co.'S
Weekly Review-Ttes Number and Mag-
nitude Of Failures Preceptibly Decreaa-
ing and Confidence Gradually Returning.
NEW YORK, Oct. 28.-R. G. Dun &
Co.'S weekly review of trade, issued to-
day, says:
Port is In sight after long ana stormy voy-
age, ana the prospect OF speedy end OF tho
struggle for repeal has brought bright hopes 10
business Stocks climbed rapidly for thres
days, banks relaxed restraints, commercial
loans are more freely sought and made, and rs-
ports from all Quarters show the prevalence
OF more hopeful feeling. This in itself tends
TO produce some revival of consumption and
OF industry. which, nevertheless, has made but
moderate progress rs yet. 1t is still too soca
TO expect much effect in trade and manufae-
lures. ana though monetary obstacles are to
large extent removed, there still remain
other legislative questions which create uncef-
talnty Opinion also differs as to the extent OF
Improvement now to be expected after 10
much doubt and delay and loss But the clear
lngs outside New York this week are not quite
~ per cent. less than last year.
The anticipation OF repeal ana the happy un.
Ion OF the Vanderbilt. Jersey City and Lacka-
wanna, gave the stock market three happy
days IN which stocks rose an average OF $2.5l
per share, and trust stocks $3.50 per share, and
the sales for the week have been 00o1
shares. But on Thursday there came q pause.
Traders were taking profits. of course. but u
more important fact was that London emptied
about - coo worth OF stocks ON tho market
rapidly. This indicated less confidence on
that side than had been anticipated in the
cuperauve virtue OF assured legislation. AMI
coming 50 soon after the Vanderbilt purchase,
suggested whether It's elects upon trunk-line
and coal-carrying hroadss though obviously
encouraging. had tGbecns5afn all respects
apprehended This, " selling raised the
rate of exchange in the face
OF the announcement that $4,000 gold has been
shipped hither the same day from London ut
an operation which might have paid better in
prices obtained toE stacks than in any other
way; ray A fact Ct zeal @ @eacouragement is that
show an increase OF per cent. over last year.
the first increase for q long time. Notwith-
standing the large sales the market continued
unusually strong. Iii other speculative
bright prospects gains realized were small.
Wheat rose cents, though Atlantic exports
fell to coo bushels for the week against
100000 bushels last year. in part because
western receipts were but $500 600 against
$500 900 last year. But corn declined an eighth
with better reports OF yield. Coffee declined
three-sixteenths Pork products made only
slight gains and cotton fell a quarter, receipts
being 90 GOO bales greater than last year.
As yet there is seen only continuance OF
the faint and slow increase in distribution
of products, which has been noticed for some
weeks. Nor does even this gradual revival in
demand extend to all branches Most of the
increase yet seen in cotton and shoe manufac-
ture may be explained by mere exhaustion in
stocks OF dealers as frequent requests for Inn
mediate delivery show; but there is also re-
ported by dealers somewhat better demand
from consumers and four more cotton mills
have Started and several increased their forces
against those stopping or decreasing.
similar demand has increased by sixty the
number OF hosiery and knit goods works
ported in operation. The shipment Of shoes
from the east in four weeks OF October are 90
per cent less than last year. against 81 per cent
in September. but against eaght comparatively
small woolen mills starting five have stopped.
including one of 5000 and another Of
1000 hands There is little sign of
increase in the demand for goods. The
recent demand for worsteds has subsided,
c1othiers are doing hardly more than enough
to prepare samples. The total sales of wool at
the chief markets, including several million
pounds believed to be speculation, have been
9207 lac pounds in three weeks. against 81 975,-
900 last year. Two additional iron furnaces
have gone into blast, and the output at the
south may be a little larger than at the begin
ming of the month Some rail mills have re-
sumed manufacture. apparently to provide for
future rather than present wants of their Gus
toners, and there is some addition to the num-
ber of rail and wire works and machine shops
employed. But the demand for most products
is small; steel billets are called frmer at $50;
ship plates are delivered at Philadelphia yards
for 81. IS, and bar sells with decreasing demand
for 81 .35 at Chicago. 1t Is hoped that monetary
ease and security may encourage railroad ex-
tensions and more architectural work. But
the shrinkagc in demand is not wholly due to
the state of the money markets. Lake copper
is sold at 81 cents Tin is q shade lower lead
is quoted ut 3.3 cents in spite of the sale of
l5OJ tons, and spelter is firmer only because OF
large purchases for export.
The New York banks still accumulate money
and commercial loans are more largely asked
and obtained. THIS enables merchants to take
goods out OF bond. and may increase customs
receipts. which have amounted in twenty five
days of October to SO, 2Os 29l, against &l6 $685.
$50 for the full month last year. Apparently
the months decrease win be about IS
per cent Internal revenue is probably
better maintained in the same time. Gil soc. .O00
against &1457S,7 766 for the same mouth last
year. The treasury gold fell to nearly ss1.00c,-
O00 but has since risen more than q million
pension payments decreasing.
The number and magnitude OF failures de-
creased less than has been expected. the liza
bilities in three weeks OF October amounting
to tS1.T0e. 100 against about q, 600 O00 for tho
same weeks last year. This week there have
been 332 failures in the United States. against
1877 last wear and a. in Canada axainst % Inst