Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-05-13
MONEY IS NO EASIER.
Financial Sensitiveness
Increased by Failures.
INDUSTRIAL STOCKS WEAK.
Business in New England Appears to
Be Doing Fairly Well.

New YORK, May 13-Bradstreet's says:
Despite week Of favorable weather gem
eral trade has not improved Warm
weather has stimulated business In the
lumber and other building materials, hard
ware, shoes and hats.
Stocks of print cloths are growing
heavier east and prices recede. Steel bill
let's, bessemer, pig iron, wool, cattle, hogs,
lard and other staples are also lower,
against which advances are confined to
sugar. due to reductions in the European
crop outlook, and to wheat. Bank clear
ings are In line with these conditions, 7S
cities furnishing total of 81, ,371 ,000, 900
No change from last week, but II per cent
higher than last year.
Oufcial Reports OF Imports
for nine months show IA per cent increase
In value over the preceding year, while the
decrease In value Of domestic exports was
20 per cent. Increased importations of
luxuries explain only one-sixth of the
total increase in value, while the reduced
value Of exports of breadstuff, cotton,
cattle, fruits, seeds and petroleum account
for the heavy falling Of In shipments
abroad.
Recent bank failures have increased the
sensitiveness In financial circleA Money
Is no easier east or west, where lines of dis
count are full. Chicago banks are taking
care Of their customers. In nearly every
direction financial institutions are drawing
In lines of credit.
Railroad gross earnings for April
aggregate over al 100000, 85 per cent
more than in four months Of 1892, whereas
In preceding years like increases ranged
from to II per cent.
Exports OF Wheat,
-four included, from all American ports,
including Montreal, aggregate t2,7l2, 900
bushels this week, a total about equal to
last week, but about Cox, 900 bushels less
than In the like week last year. Notwith-
standing 100 0O0, 900 bushels Of wheat at
home, and Canada with ye,0O0, 900 sfoat
and in Europe reports of great damage to
crops abroad, with delayed planting and
damage at home, have served to advance
prices.
Industrial Stocks
are still weak on the general distrust
caused by the cordags collapse. Bearish
pressure, and fears of further trouble In
banking circles have occasioned general
declines in the railroad share list, but will
be followed by q covering Of shorts and
rally in prices. although they failed to de-
velop real buying power, and leave the
speculative market In weak and feverish
position.
The Australian troubles, with some
minor failures In London, have occasioned
pressure In the London money market,
and the advance for the Bank of England
discount rate has advanced foreign ex-
change rates
Eastern Trade II Fair.
Demand for staple dry goods, hardware,
lumber and other building materials has
been stimulated at leading eastern cities
by b-ig ight warm weather.
The demand for boots and shoes at Boston
is active and factories are busy. The new
leather trust has not shown it's hand yet,
. packer leather Is abundant and likely to
effect prices.
Providence manufacturers Of cotton and
wooden goods are buying raw material
very conservatively and makers Of cheap
jewelry report demand quieter than usual
Manufacturers Of woolens say trade II
quiet.
At tho West.
At Chicago since the bank failures mer-
chants have become more conservative a.
to credits and buyers are taking smaller
lots of goods than formerly. Heaviest
orders are for dry goods, clothing and
light hardware
The iron and steel industry Is character
lied in the west by the closing down of the
Joliet and Bridgeton works of the Illinois
Steel company.
Navigation is open at Duluth, which
stimulates local trades and industries. A
large amount Of capital Is tied up there,
carrying wheat and -four stockA
Merchandise Is moving moro freely
from Minneapolis and St Paul, and 10
ports from various sections of the north.
west state that seeding is now progressing
rapidly.
Business Failures
during the week were 219, against o4S last
week, 1s4 In the week a year ago, 186 two
years ago, Isl three years ago and 100 four
years ago.