Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-11-25
MONEY AND BUSINESS.

Business Slowly Gaining, But tho Pro-
gress Is UphlIi work-The Monetary
Situation Getting Easier as the Gerersi
Alarm Subsidies and the Surplus In the
New York Banks Increases Speculation
Continues Light, Produce Markets show
Weakness and Industries Continue to
Resume-Business Failures Etc.
NEW YORK, Nov. ls.-R. G.. Dun &
Co. S weekly review of trade, issued to-
day, says:
Business IL gaining, but II is q constant COM
plant that the change is slow. II Is but very
few that realize how heavy load business
has to drag after it in climbing up again Leg
isative uncertainties weigh heavily, but other
loads may be overlooked The past depres-
sion, with trading and manufacturing failures
involving more tnan s235 0D0 0OJ In nine months,
besides banking failures of enormous labli.
ties and failures OF heavy firms involve con.
tlhual embarrassments which men are prone
to forget. There has been great encourage.
ment during the past week in the fact that No
vember payments are far more satisfactory
than was feared, and yet the extensions would
have seemed alarming in other years Mer.
chants who collect part OF the amount due are
reJoced, but their buying power is not as large
as usual. The extraordinary shrinkage in pur-
chase for consumption, II lessening has still
mad Il impossible for many firms to go on as
5c1orc and the largest failure OF the past
week, that OF Turber, Wyland & Co.. Illus.
trates embarrassments which cannot be ter
minated in week or month.
Monetary difficulties no longer hinder. II Is
true the treasury cash has fallen to Sgi 38s, ,o95,
Of which only ss5 400 S9i was in gold but there
is no such alarm as there was when the gold
reserve went below Sl0O,00O,000 Business Is
not leaning on the treasury, and II is well that
II Is not The receipts for the month thus far
are about 5000 00) less than expenses. and the
imports in October decreased about 1900
partly because OF inflated valuation OF goods
imported last year. Weekly imports at New
York decreased in part from the same cause.
But while the imports in October were only
s5l 6il ,78! and exports OF products sSi, ,68jsl5,
yet the enormous balance on merchandise ac-
count brought net imports of only 100000
gold. The exports represent large increase
in the quantity Of products sold, but at lower
prices, while in place OF merchandise i'm
ported it Is evident that there have been large
imports of securities from abroad. The banks
of New York hold a great surplus and the fact
now comes out that OF the clearinghouse GER
tiflcates recently issued three banks took from
s. 600 900 to s. 0000 00) each, indicating the mag
nitude Of stock loans carried over.
II has not been much OF a week for specula-
tion, and that perhaps is encouraging. Stocks
have slightly declined, railroads an average OF
81 cents per share, and trusts Sl.25 per share.
the grangers and some Of the trusts being
especially weak, The impression prevails that
earnings OF railroads must decline greatly
now that the passenger traliic is no longer sus'
tanned by the fair But freight receipts alone
declined in October ll2 per cent, compared
with last year, and in the first week of Novem
Der l0i per cent, and although passenger
earnings showed gain of only IA per cent,
against 2i.6 per cent. in October, the decrease
on all roads was but As per cent. for the first
week on November. 1t is also to be remem
bered that the earnings represent that par, OF
November in which the tendency to recovery
was least apparent
In produce markets weakness was the rule
and yet the yielding was but small Wheat ii
quoted q full cent weaker, though western re
| celpts are about 510,0J) bushels less thar
| usual the Atlantic exports being only i0J OG
bushels, against 2,300,O01 last year. Corn Is
| cent lower. with larger receipts. Cotton, witt
| large receipts, is an eighth lower Pork prod
! ucts are lower with large selling, and coffee Il
| also lower.
The condition of the industries improves
| but tney will await the revival of purchases BY
consumers Twentyfour works of all kind
have wholly or in part resumed, against tour
teen closing, yet less than half the iron-woriinl
| power is active and out OF ninety-nine woSleI
works ut the east only ten are working fnl
time, while forty-hve were shut down Novem
ber /, the production for four months In men,
wooden boiug li,3l3isl yards against s55d 30
! last year.
| bn az a rnp IN ngppctOrS rpnOrt tnat oil
of 5000 persons employed in textile mills ii
| Philadelphia. only $50 are at work There
| fore il Is more gratifying that, for the hrsl
| time in many months the sale of wool excee
| those of the same week last year. Clothler'
| evidently begin to realize that they cannot ge
| goods at ALL unless their orders prevent gen
eral closing OF the mills early in December
In boots and shoes t here is also decided in
provement in spite OF the fact that orders ar
smaller than usual; and most factories are re
| ceiyng orders. though not enough for full EN-
| ployment. Shipments from Boston for tn
week were only per cent less than yea
ago.
The great change in steel rails. which ar
| said to be selling at Pittsburgh for SD inStea
of s,9a few weeks ago, has given much stimu
lus to the demand for materials, and woster
| mills have also taken some large structural cor
| tracts lttle better tone Is seen III pib lToh
and large orders are reported for cast pieces
But the whole business is still small
The New Jersey Central has suggested
stoppage of anthracite colieries for two day
In the week to sustain the price, and there i
said to be general assent
The decrease in the volume OF bushes
through the clearinghouse continues nbou
the same, and for the past week was 1876 pc
cent.
The failures this week humber %i in tn
United States against POI last year. and 80 l
Canada, against 81 last year,