The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-09-30
FINANCE AND TRADE
Senatorial Inactivity Has a Very
Depressing Effect,
THE BUSINESS BOOM DELAYED.

Many industries That Have Resumed DO
Not Find the Demand as Large az Was
Antioipated-C ottoB Manufacture, How
ever, shows Distinct Activity.
NEW YORK, Sept 8O-R. G. Dun & Co.'s
weekly review of trade says: A complete
statement Of failures for the quarter which
will close tonight is not possible, but the
number thus far reported is about 1000
and the aggregate of Liabilities about $780,
600, OOO greatly surprising the record Of
any previous quarter For the past week
the failures have been 1923 in the United
States, against III last year, and in Can
ada "a, against 81 last year.
Hope deferred" explains the past
week in part and it is doubtless true that
many iudulRed unreasonable hopes, but
business has not entirely answered ex-
pectations A feeling of disappointment
| is commonly ascribed to delay Of action on
the silver bill in senate It. is also true
that many works which have resumed
| operations do not find orders as large or
the demand from customers as vigorous
as they anticipated, and with some it is a
question whether they will not close
again.
While money on call has been abundant
and cheap, and about S4 600, 900 clearing
house certificates have been retired, there
| is perceptibe greater caution in making
commercial loans here and at some west
ern points. Confidence, proverbially of
slow growth, has been somewhat dimin-
| ished, in part because advancing exchange
suggests the possibility of gold exports.
| During most Of the week speculative
WEAKNESS has found expression in lower
prices. Stocks were more active, but
| lower, railroads declining on the average
| .42 and trust stocks 80 per share TO
| Wednesday night, and the recovery has
since been small. Railroad earnings for
September show a decline Of 10 per cent.
compared with last year.
The cotton manufacturers gaining more
than any other, aud there is stronger
market for print cloths and prints, while
some reduction has helped to stimulate
trade in other goods. The enormous de-
crease in production for the past two
months begins to be felt, and sales are
large, though much below the unusual
O. antity. Trade in wooden dress goods is
better, .and there is little more demand
for mems woolens though not enough to
keep employed the increased number of
mills now running
W llllC HbNtull l-0lA Neutrality-suspicious. tOIl-
Germs are reported as starting wholly or in
part, against twenty closing or reduc
ing force, more than third of the in
crease has been in cotton mills and an
other third in machine shops, nail mills,
manufactures of stoves and hardware
tools and cars, while In the iron manufac
lures proper only seven concerns have
started. against three that have stopped
and the outlook does not seem brighter
The closing of the largest iron mine in the
country, the Norrie, which ordinarily pro
duces q million tons yearly, indicates the
limited character of the business.
The contest between the Amalgamated
Association and works in the Pittsburg re
gion has been settled, but too late fol
most Of the men. The glass workers have
not yet agreed as to wages, and stocks are
| growing low. In boots and shoes the
marked activity seen in New York is not
found at the east, where the business is
slow and few establishments are resum
ing, and shipments from Boston are still
30 per cent smaller than last year. but the
rubber works are fully employed and the
demand for the product is large