The times. [volume] (Richmond, Va.) 1890-1903, 1893-11-18
BUSINESS Is G.lINING.
BUT tho Legislative Uncertainties weigh
Heavily.


NEW YORK, Nov. 17-R. C.. Dun &
Co.'s Weekly Review Of Trade tomorrow
viii say.
Business d. gaining but IL is a constant
complaint that the Improvement f. slow.
This Is because very few realize how
heavy a load business has 10 drag nfter
II IN climbing up again. Legislative -un-
certainues weigh heavily but other loads
many overlook. The depression with
trading and manufacturing failures In
yolving more than S235. 100000 IN nine
months, besides banking failures of enor-
nous liabilities and failures of railway
and other firms. involve continual en-
barrassments, which men are prone In
forget. There has been great encourage
ment during the past week I'm the fact
that November payments are far more
satisfactory than was feared, and yester-
day the extensions of the month would
have seemed warming I'm other years
Merchants who collect part Of the amount
due are rej0lced but their buying power
is not as large as usual. The eXtraordi-
nary shrinkage In purchases. IL less-
ening. has SIN made il impossible for
many firms to go on as before, and the
largest failure Of the past week, that Of
the Thurber Whyland Company illus
trates embarrassments which cannot be
terminated I'm a week or "a month
Monetary difficulties no longer hinder.
n is true the treasury cash has fallen 90
S9L3eS ,J9j, of which only SSJ.4a0,3al was
gold. but there is no alarm as there was
when the lOld reserve alone went below
500 000. Business is not leaning on the
treasury, and it is well that 10 Is not .3ut
while the imports I'm October were only
>lOO,OO In gold The exports represent
yet the former balance in merchandise
account brought net imports OF only
NWOOD i'm gold. The export represent
"a large increase in the quantity of pro-
ducts sold, but az lower prices, while M
place Of merchandise imported. it is eyi-
dent that there have been large imports
of securities from abroad. The banks or
New York hold a great surplus, and the
faet now comes out that OF the clearing
house certificates recently issued three
banks took from 100000 10 100000 each.
indicating the magnitude OF stock loans
carried over The condition OF industries
improves, but they wisely wait the re-
Vival of purchases by consumers. twenty
-FOUR works OF all kinds have wholly or in
part resumed, against fourteen closing
Yet less than half the iron works are
active, and out OF % woOllen works at
the East, only one is working FUN time.
while - were shut November lst State
factory inspectors report that out Of Zg0.00J
persons employed IN textile mills in Phil
adelphio, only 1900 are al work The
great change in steel rails. which are said
20 De selling at Pittsburg for $50, instead
or SO "a few weeks ago. have given much
stimulus 90 the demand for material ana
western mills have also taken some struc-
tural contracts. A little better tone is
seen on plg-iron. and the large orders are
given Tor cast pipe The decrease in the
volume OF business through the clearing
continues me same and for the past week
was 1876 per cent. The failures for the
past week have been 32l u the Unltsd
States against 3o5 last year. ana "a in
CANADA against % last year
Condition Of Trnde In the South
NEW YORK, Nov H-Bradstreets to-
morrow VIII say:
General trade has been irregular. with
out actual Increase in volume. AT the
south Improvement I'm demand rs noted
in tennessee and Texas cities. Heavy
sales of southern pig iron and the break |
ing OF the drouth In the southwest are /
features. Atlantic. SeabOard and Gulf |
States, with few exceptions, report trade
very quiet, funds scarce az interior towns. /
ana country merchants permitting stocks I
20 run steadily down Improved c0llec- |
lon5 ln Georgia warrants the statement !
Demand for rails is checked because OF |
the cut from 80 10 S2l in price. and the |
outlook for further reduction. AZ eastern /
cities there ls more hopeful feeling. but
no Improvement in demand. except within
"a Day or two for clothing wOollens and |
SHOES. 'narlest0n JODbers report interior |
stocks Of merchandise running down and |
a continued disposition on the part OF |
commercial travellers 10 select customers. /
? of al "a .r...
Is satisfactory and collections are better, I
and sales Of 5000 tons Of plg iron Is re- !
sarded as encouraging. There is q gain /
n the movement OF merchandise 40 Mem 1
pnis. where dry goods and collections are /
easier. but there Is little Improvement |
reported from Augusta except IN c0llec- |
tons. Receipts Of cotton continue free |
General trade Is duh az Atlanta, and |
without feature. but with few com |
plants OF collections. There IS only a /
business az Savannah, where |
cotton prices are depressed by heavy re- /
seipts. Country merchants IN the vicinity |
lf Birmingham are buying more freely. |
and appear able 10 pay more promptly /
The recent tendency 10 activity among |
j0bbers at Mobile IL maintained The /
volume Of business at New Orleans has /
declined somewhat because OF inability /
tD export owing 20 a lack OF tonnage. |
The outlook now In view Of "A better feel
ng Is for Improvement. A heavier busi-
ness Is reported from Houston, where
merchants are feeling more encouraged.
wet and cold weather has check
"a the cotton Improvement Like condi-
tons prevail at Galveston. whore bankers
and merchants have taken holiday 20
the completion Of new and i'm
pOrtant communication with the main
land. At Baltimore lobbing Is light and
.tl ..1Tstr,r faIfa behind that for fkl2