The times. [volume] (Richmond, Va.) 1890-1903, 1893-12-23
REYIHW or TRAD r.
Business Has Fallen on and Profits are
Less Than Last Year.

1tSo AhN' 1oNN hNNh
NEW York, n. Y, Dec. &.-R. g. Dun
& Co.'S weekly review Of trade tomorrow
will say:
The year is practically over, except the
holiday business, which is remarkably
well sustained as respects number OF sales.
considering the state Of Industries and
the army of the unemployed, but it is
materially diminished in volume because
purchases are averaging much smaller
in value than in recent years.
other business, all branches included.
appears from clearing house returns 81
per cent. less than last year at the same
date. But much business is done at prices
which return no profit, merely to keep
hands together or retain customers. and
the losses by numerous and heavy failures
reduce profits even where the volume
of transactions has given fair promise.
Changes during the past week have not
been cheering in character, but the minds
Of many are now turning to the dawn
Of the new ear with the hope of better
things.
The failure of the Crane Iron Company,
at the end Of the last week, with some
other smaller failures. outweighed the
influence Of the resumption Of work by
a few iron works, and has increased de-
| preston at least. Bessemer iron IS shipped
to Philadelphia from Pittsburg, where IL
sells at $l0.75, and Grey forge sells for
1876 at Mahonning Valley furnaces, but
even in that region the manufacture
keeps only S,425 of the Connellsville coke
ovens at work, while 9,0SS are idle. The
reduction in price Of bleached cottons
last week and OF leading wide sheetings
this week has been less effective in slim
ulating trade than was expected, and
print cloths are selling at 3 cents. The
wooden manufacture has started three
fnnpa mills IY,F ID 800 -- 800 .
employing 5000 hands, and others are re-
ported to be stopped when the stocks
on hand are worked up.
The closing Of the st. Nicolas Bank,
with liabilities of 81, 753,O00 caused no
excitement. Custom has hardened the
street to reports Of failures, and It is
generally expected that the close of the
year may bring more than usual. Foreign
trade still shrinks, exports for three
weeks having been 10 per cent. less than
last year, and imports at New York 20
per cent. less.
Failures for the week were 3H in the
United States, against 2S3 last year, and
81 In Canada, against Is last year
Brad.treets Views.
Bradstreet's tomorrow will say:
The ~features of the business week are
the increased uniformity i'm reports that
general trade is quite as much or more
depressed than previously; that holiday
trading has been unsatisfactory. and far
below that of a year ago, and con-
tinued closing down Of important in
dustrial establishments and reductions Of
wages, and increased instances where
short time is being enforced. Nearly
all staple markets are quiet almost TO
steSnation, the exception having been
cotton, the price Of which was stimu-
lated late in the week by revival OF con-
hdence in low crop reports. With the
exception of Augusta. Ga, and possibly
one other point, absolutely no claim TO
even a slight improvement IN any line
OF usine is made at any point this
week.
Restriction of industrial production
and commercial output at Boston contin-
ues TO be a feature Of the situation.
which is true at Philadelphia. where the
usual orders for January and February
at this season are not received.
Sales of lumber have declined 30 per cent.
ana the shoe and leather markets are
dull. Very small stocks will be carried :
over by jobbers at Baltimore where funds :
are easier and pushing collections Is
prominent.
collections are pressed by Richmond (
)oDbers, and manufacturers are refusing l
10 pie up stock. The like is true at >
and Savannah. Naval stores !
hrm and prices advancing. Sales are !
light at Atlanta, and manufacturing is I
My moderately active, but at Augusta
lines of business show a large volume
IF trade, and manufacturing industries {
report demand fair. Trade is quiet at I
Memphis, Birmingham, and Nashville. a =
demand for groceries and Christmas :
'pecialties being the only ones noticeably =
Ictive. There Is a small increase in the
OF trade at Mobile, though ii is
ess than a year ago. Country merchants {
n southern Alabama are buying con- :
ervatively, but lumber mills in that !
'icinity are more active. At New Or !,
cans the bulk Of the cotton and sugar \
rops are reported marketed; orders from a
obbers are small, and there are no new
At the larger Texas cities the
.ituation remains as a week ago. with 4
air collections, and moderate volumes OF y
transactions. 4