Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-12-16
MONEY AND BUSINESS.

Review of the Condition of Commercial
and Financial Markets AS CoIiated and
Prepared by r. q. Dun q Co.-Trade
Continues In a Waiting Mood Money
Plenty with Light Demand for Either
General or Speculative Business-Busi-
ness Failure for the Week, Etc.
New YORK, Dec. Or. g. Dun &
Co. IS weekly review of trade, issued to-
day, says:
Trade OF all kinds Is waiting. There Is no
visible Improvement and on the whole tho In
dications are q little less satisfactory than
they were week ago, The volume OF business,
measured by clearinghouse returns outside OF
New York, show decrease OF only l2 per cent
compared with last year. which Is encourag-
Ing; but as the statement covers the payments
for the first Of the month. 1t may not correctly
measure the volume OF new transactions. The
reports from the other cities show hesita-
ting trade almost everywhere, with decided
disposition TO wait until congress has acted on
the tariff question Hence the delay and ur.
certainty are likely to last for some weeks
Tho speculative markets have not moved
much. In railroad stocks there has been
slight decline OF tifty cents per share, and In
trust stocks nearly as much, without much ex.
FitpHiEHl f4-bftutI ulAThtt SHtI- uhNV
been only million shares, but reports In re-
gard to the increase OF taxation OF sugar.
whisky and other products make whatever
market there is
Railroad earnings are fairly encouraging, for
they show decline of only per cent com
pared with last year, and In freight earnings
the decrease Is only per cent. The eastern
roads continue to show some gain, and on the
southern roads there is small decrease, but
| the decline on western roads is still heavy
running from TO 10 per cent, with even
larger declines In Pacific roads.
Wheat has risen shade. The western re-
ceipts were only 3557,2sl bushels against
86ai, 1870 for the same week last year; while tht
exports from Atlantic ports were only 427is
| bushels, against Sal,4G for the same weeF
| last year. The receipts OF corn were unusually
| large amounting to 3,2271'i bushels, aga'ns
9766, 100 for the same week last year, and tn
| exports we're ESQ, 066 bushels against $3.50
| last year.
| The movement OF cotton was not encoura2
| ing to holders. and appearances indicate
| larger supply on plantations than had been eS
| pecied. The receipts at the ports for the weel
| were 25s EOS bales against ais,5l7 for tho SAINT
| time last year; but the exports we're lSssI'
bales against 1926 last year. The price De
| clined an eighth, with strong evidence that tn
| continued heavy receipts nre wearylng INT
holders The cotton manufacture does bette
than other branches at present and yet ha
not very healthy appearance The deman
is not strong, and prices OF goods are barely
maintained. The disposition TO buy with grea
caution and contne purchases TO actual re
ourements is more clearly unaffected than Il
previoue weeks
In
ment is very clear and there seems no reaso
to expect any decided recovery until congres
has acted on the tariff question. SeverI
works have stopped production during tn
week and others are running only to NIL o
ders which will soon be exhausted NO quote
BILE change il noted in prices, but the sales
wool for the week have been only 3,H1,5
pounds against $4,000 for the correspondent
week last year, The demand for speculatiy
purposes continues and a considerable propo
tion Of the sales are OF that character,
In the iron and steel manufacture there a
symptoms of Improvement. The eastern ma
kets are waiting, and while one company hd
gone in the market as speculative Duye
taking about 1900 tons, it is said, and the
nave been large purchases OF pipe iron ais
the general tone OF the market is not II
proved There is feeling that the new stet
rail ombination will result in decided
crease in the demand for rails and also
pig IRON and at Philadelphia and Pittsburi
no improvement in prices is seen.
Copper Is somewhat stronger. with l0ii bl
, and the evidence of q combination OF pr
ducers accumulate. Lead has remained II
changed in price, and in tin prices have bee
almost stationary.
, The prospect OF a renewal of gold expor
| causes no great excitement in the street, as t
banks now hold so large stock OF gold
hand that really heavy loss would not eau
: them any embarrassment. Yet it is felt tn
Z any outgoo of gold at this time would be eviden
. that Europe has been selling large amount
securities IN this market, and there Is u fee
' ing that such sales may easily be pushed 4
> enough to cause serious disaster, The Dal
b. reserves. amounting to 9s,O)O,OO0, are u
+ largest ever known and there is feeling tn
;, the accumulation OF idle money here Is som
J, | what dangerous to legitimate trade, but as
u there appears no indication OF speculative {
t citemer, in products or IN stocks.
q The increase in circulation during
=, month q November was about x,0OO'OU
though there was no demand for addition
u currency in any OF the interior markets, u
9 the evidence is clear that the supply OF CT
reucy is far In excess of the needs OF buslne'
The failures for the week number 3Sb
the United States. against I'll Tor the cor
Il spending week last year, and ~ In cana
/, | agaipst N last year.