Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1893-11-11
THE TIDE HAS TURNED.
The Election Followed by an In
crease In Business.
SUDDEN BOOM IN IRON INDUSTRIES.

Dun's Review Announces That the Return
of Business Prosperity Is Now Well Un-
der way-The Dry Goods Market Feels
tho Change, and Mil Towns win Rejoice.
NEW YORK, Nov 1.-THE weekly re-
view of trade issued today by r. G.. Dun
x Co. announces the return of business
prosperity as follows: The turn of the tide
has come Since the elections there has
been a distinct improvement in business
and particularly in manufacturing. There
Is some increase in actual transactions and
much more in the tone of business. Men
of all parties feel that there is ground for
greater confidence, the silver question be
ing put definitely out Of the way and the
chance Of disturbing action in other re
spects being lessened, while the right of
the people to rule their rulers has been
yindicated.
While it is yet too early to look for great
changes, there is already distinct inn
provement in the demand for mmufac-
tured products since the action on the sill
yer bill, some increase in the output of pig
iron and in sales of wool, in the building
trades in several cities, and the failures for
the week latest reported show lower liza
bilities.
In brief, the recovery which began when
the silver repeal bill passed continues with
increased strength
The speculative markets have not chang
| ed, though the improvement in the stock
markets which was expected from the sill
yer bill comes slowly. The average Of
prices though slightly lower than week
ago is no longer depressed by heavy rraliz-
lug Of home and foreign holders
Iron Market Is Active.
The sudden fall in the price Of steel rails,
which has been maintained at $50 for
long time. but Is now S22 at the mills, has
brought the quick enlargement Of demand
which might have been anticipated, and In
turn the demand for ore, coke and pig iron
/ improves. There Is also a better demand
for some manufactured products at the
west, though no improvement as yet APP
pears in prices, and with few large con
tracts taken at the east prices are never
theless at the lowest point.
The first week of November has passed,
and thousands of business men breathe
more freely because the apprehended fail
ures in dry goods have been much less nu-
merous and less important than was feared.
No doubt it is true that many concerns
have been carried over by extension, but
even a moderate revival OF trade will en-
able most of them 70 weather the storm.
A gradual improvement is seen in the mar
ket for cotton goods, with slightly better
prices in print cloths and some other grades.
The sales of wool for the week have been
1854 200 pounds at the three principal mar
kets, against S,2l5,00O last year. While the
production Of mems woolens from June
TO Nov ] was only TO- 49, ZIG yards, against
l7oSb.0l9 for the same period last year,
there h good reason to expect larger de-
mand hereafter. Thus orders for spring
woolens have clearly increased, and with
mills which have some orders booked al
ready but not enough, the change is al
ready important.
The volume Of domestic trade though
smaller than a year ago shows considera-
bly, less decrease than appeared in Septem-
Der or October the exchanges at clearing
houses outside New York being only ia
per cent smaller than FOR the corresponding
week last year. Railroad earnings also eX-
hibit some relative improvement, as the
decrease for the latest week reported Is only
"a per cent. although analysis of the re-
turns shows that the decrease In freight
movement separately considered was de-
cidedly larger Money is abundant and
cheap, for although the commercial de.
mand has quite perceptibly expanded the
supply accumulated at the chief financial
centers is extraordinarily large.
Exports Increasing.
The arrival of S7jO, goo gold from Europe
gives evidence that the past selling OF
stocks on foreign account, though it was
large for some months, has not Of late been
large enough 10 overcome the merchandise
balance, which is rapidly increasing with
a full movement of exports for the past
week and month and with heavy decreas,
I'm imports of merchandise, especially il
dry goods
Much more confidence is felt in the fu
ture of monetary affairs since the repeal o
the silver bill, and IL is the common esti
mate that the result Of the elections vii
tend TO prevent further action in the direc
tion Of silver coinage or paper initiation.
The failures for the past week have beer
36l in the United States, against 2l0 for The
same week last year, and in Canada 81
against 26 last year. There were four fail
ures with liabilities between 100000 ant
100000 each, and 62 with liabilities be
tween 5000 and $4,000 each. The liabili
ties of failures for last week reported show
a very encouraging decrease. amounting L
only s., 467 900, against Si,4l3,000 for tn
I preceding week, and it is noticed that whil
the number Of failures does not materially
decline as yet, there are fewer of impor
lance.