The times. [volume] (Richmond, Va.) 1890-1903, 1893-11-25
CONDITION OF TRADE.
ALLRRANoHE sOFBUsISESS AWAIT.
ING cONsUMPTTON'S GROWTU.
Improvement in Collections at Several
Southern PoiDts-EOiume OF
Justices Increasing.

NEW YORK. N. y. Nov. PAR. O..
Dun g. Cos Weekly Review OF Trade
tomorrow will say:
Consumption Increases slowly and all
branches OF business are waiting for its
gtowtb. There has been little improve
ment 10 stocks, while the price OF products
has declined little on the whole. but
the volume OF business has somewhat
increased.
Exchanges through clearing houses out
side OF New York show decrease Of only
~ per cent for although last years bust
ness at this season was extraordinary. the
week Included Thanksgiving holiday. The
railroad earnings for the month thus far
are only 80 per cent. less than those OF
last year. tie decrease for the latest week
being even smaller in freight earnings
Trade waits FOR the revival OF industries.
ana he week. returns state that the in
dustries are conflicting.
new compact Of the steel-rail pro-
ducers. the Pennsylvania aud the NARY
land works having been leased 10 others.
fro order TO keep them idle. has checked
the increase in purchases Of ore and coal
and other materials. and the Pittsburg
manufacturers are playing havoc with
eastern markets, though the prices made
in that region are so low that their con-
tnuance cannot be predicted. There is
q considerable increase IN the number Of
concerns in operation, but there does not
appear 70 be much gain In actual compen-
sation The purchase Of 10000
tons Of Alabama coke iron was
made at $3.50 az the mill. At
PitHburg, where business seems
more active than elsewhere the mills are
not fully employed and the state OF man
ufacture il shown by the return of Con-
nh ffaft fsr
in operation, and 400 are idle, the out
put being only 57.755 tons weekly.
Cotton IS a sixteenth higher, though
considerably depressed during the week.
with receipts of 2i2O00, against go O60
FOR the same week last , ear. and the be-
lief In a short crop does not outweigh
the fact that stocks abroad and at home
are 3,A2,0O0 bales, about forty per cent.
OF a full years consumption. Money con-
tinues TO accumulate, and If loaned at
one per cent. on call. and as low as four
per cent on the best co Imercial paper
There has been Improvement in the
market since the successful sale Of cot
TONS but the country banks prefer TO
pile up their balances here to be loaned
al low rates on call. rather than 20 buy
paper below four per cent. Maturing
notes have been met much better than
was expected, and throughout the country
cOlectlOuSt inOuEl slDHtI imam USUAL
show stronger condition OF trade than
has ever been known Immediately after a
financial revulsion. The exports continue
10 exceed imports largely; for three weeks
at New York. exports were S225l6,3n
against so 49,. 1896 ,ast year. while he i'm
ports were S22.931.Oz9. against S31 15S,9B
last year. In October the excess Of mer-
chanGise exports was S36,oO)0O0, and with
allowance for undervaluations Of i'm
ports and for interest due abroad, there
would still be a heavy balance due this
country, which does not appear 10 have
been met by a, movement of securities, as
Europe seems of late 10 have been buy
ing rather than selling The phenomenon
probably indicates settlement Of CONNER
ciai loans made during the period Of
panic.
Failures for the week number lS7. as
against lS2 last year. and "a in Canada
against % last year. The list In Canada
i- one OF more than usual Importance. For
the preceding week the liabilities OF firms
failing amounted To only $35siSl2, against
SO 787. iG7 the week before. but the weekly
average is far beyond what IL would be
iu times Of prosperity.
Condition Of southern Trade.
NEW YORK. Nov. 2i-Bradstreets' to-
morrow will say:
y feature has been the stimulus 20
sales Of seasonable staples by colder
weather in the northwestern cities. Sec
0nd only I'm importance are the improved
collections al Atlanta. Chattanooga, Lou
isyine Omaha, ST. Paul and Duluth
The relatively stiff prices for wool at
western centres places that staple there
above "a parity with eastern quotations
and checks the movement Leading dry
goods jobbers al larger distributing points
90
ness. but take announcement from the
Unexpectedly brisk. demand and good
prices realized at the auction sale OF
staple and fancy cotton goods at New
York New. England cotton mills report
sales slow and the demand for woolcns
dulL yet wooden manufacturers have a
few orders ahead and more are starting
up.
At Baltimore there is only n moderate
trade i'm general merchandise although
reports from the South point TO improve
ment. The large tobacco crop has de-
pressed prices There is some improve
ment reported from Cincinnati, whore
manufacturers are active. Trade remains
quiet in Louisville, except that the de-
mand Tor tobacco is strong.
AZ the South Improvement is noted in
cotton, as we'll as demand Of various pro-
ducts al Atlanta Chattanooga and Biz
mingham. Fertilizer debts are being
paid more promptly than in previous
years although easier money at those
points affects only best name paper.
Charleston reports trade very quiet; job
bers are choosing customers and country
buyers taking for needs only. About half
Of She South Carolina rice crop ESCAPED
the cyclone. and IS now coming TO market
Practically no change Is noticed In the
business at Nashville. while Galveston |
trade I'm heavy goods has been checked
by mild weather, and at Houston there |
is less improvement ln the demand than |
was expected