The Providence news. (Providence [R.I.]) 1891-1906, 1893-09-30
Has Had Much to Do With RetaId-
Ing Business
FIHABCIERS ARE VERY UNEASY,
Exsrcisine Greater Caution I'm Making
Loans Largest Liabilities Ever
Known I'm the Failures of n Quarter
Hope Deferred Explains AfairA

NEW YORK. Sept so.-R G. Dun g. Co.'S
Weekly Review OF Trade says:
A complete statement of failures for the
qu.rter which closed last night is not pos
sible, hut the number thus far reported Is
about 4coo and the aggregate Of liabilities
about $3.50, 900. 900. greatly surpa ssing the
record Of an previous quarter.
For the past week the failures have been
go in the United States against III last
year, and in Canada "a against 81 last
year.
Hope deferred" explains the past week
IN part, and II Is doubtless true that many
indulged unreasonable hopes, but bust
ness has not entirely answered expecta-
tions. A feeling of disappointment is
commonly ascribed to delay Of action on
the silver bill In the senate. 1t is also
true that many works which have re-
sumed operations do not find orders as
large or the demand from consumers AZ
vigorous as they anticipated, and with
some IL is a question whether they will
not close again. While money on call has
been abundant and cheap, and about
a, ,000, 900 clearing house certificates have
been received, there is perceptible greater
caution In making commercial lonns here
and some western points.
Wheat receipts decrease again and fall
far behind last years. but stocks in sight
are too heavy, and the price for December
fell nearly cent. Corn continues TO come
forward freely. and crop reports are not
more unfavorable, but the price fell 3-S
cents. Cotton declined about 3-l6,
with no great change in the movement or
In Drop prospects. and with increasing
work by the mills in this country. When
stocks are unusually large their very
weight at times overbalances all other
considerations
Cotton Sales Are Larger.
The cotton manufacture il gaining
more than any other, and there is a
stronger market for print cloths and
prints, while some reduction has helped
60 stimulate trade in other goods. The
enormous decrease In production for the
past two months begins to be felt and
oales are larger, though much below the
usual quantity.
Trade In wooden dress goods 10 better.
and there 10 little more demand for mems
woolens, though not enough to keep en-
ployed the increased number of mills now
running. Clothiers are cutting up more
goods. it ID said, but the change is not
greater than preparations Of samples for
another season might cause, and there are
noticed attempts to clear of old stocks
y by opening retail stores and selling at man.
ufacturcrs' prices.
While 75 manufacturing concerns are
reported a. starting wholly. or In part,
against 20 closing or reducing force, moro
than third Of the Increase has been in
cotton mills and another third In machine
ohops, nail mills, manufactures Of stoves
and hardware. tools and cars. while in the
Iron manufacture proper ouly seven con-
corns have started against 80 that have
stopped. and the outlook does not seem
brighter.
Chicago IL adding to her marvellous
buildings, and in structural and some
other forms the demand at that point is
clearly increased. But the closing Of the
largest iron mine In the country, the
Eorrie, indicates the limited character of
the business.
The return Of money from the interior
continues large, and plainly reflects less
activity than usual a. this season In do
nestic trade aud industry.