The Providence news. (Providence [R.I.]) 1891-1906, 1893-08-26
POSTSCRIPT.
$50 O'clock.
For Late Evenmg News See
Second Page
MORE CHEERFUL.
Business Is Frightening Up
Very Rapidly.
fAlLURES DECREASlNG.
Scarcity Of Money Still Remains
Unexplained
CASH COYLY REMAINS HIDDEN,
Scarcity Of Money Still Remains
Unexplained.
CASH COYLY REMAINS HIDDEN,
But Mills are Starting Up Orders are
Being Placed, and Conservative Men
Relieve That the Turn Has Come and
the Upward Movement Will Continue.
Good Outlook for tho Future Is the
Encouraging Word Now Travelling
Along the Line.

NEW 4 DIRK, Aug. 2O.-lne improve.
ment observed last week has become much
more distinct and general. While actual
transactions have increased but little the
change in public feeling is noteworthy.
There are fewer failures. either of banks
or of important commercial or manufac-
turing concerns. than for some weeks past
Many disasters have been avoided by a
more general pooling Of resources, and a
greater spirit Of mutual helpfulness Cld
forbearance than were seen some weeks
ego.
The market for securities has been ex-
tremely dull without material decline.
Money on call Is more abundant and
lower. The difficulty Of collections and
ehe interruption of exchanges are nearly
rs serious as ever.
Work For the Unemployed.
The number Of industrial establishments
resuming bsgins TO compare favorably
with the number stopping work. 1t can
not yet be said that the army of the unem-
ployed has begun to decrease, but the ad
ditions to it are much smaller than in
previous weeks.
The shipment of boots and shoes from
Boston show decrease. compared with
last year, of 36 per cent for the week, and
FL per cent since June and counter
maDds still offset lew orders at the east,
though somewhat more activity Is reported
here and at Philadelphia on account If
southern buying. The textile manufac-
lures show no Improvement, and dis
patches mention "a mills as having closed
indefinitely, and seven others temper
arily, one for the first time in 80 years,
and it is also stated that % of the largest
In Maine have determined TO close next
week
On the other hand, IL mills, which have
temporarily closed, have resum ed. OF
machinery reported TO The Textile World
In answer TO inquiries, "a per cent in cot
ton and 43 per cent in woolen mills were
idle Aug 10. The demand for goods is
very narrow, and uncertainty about col
lections and supplies Of currency for hands
turn the scale in many cases. Sales of
wool are about the smallest ever known
at this season, amounting last week at the
three chief markets TO 1,633,9l2 pounds,
against Z, ,164,G02 ponnds for the same!week
last year.
The Financial Werld.
The markets during the past week have
not been active In stocks the average of
pflCcS Ciitubcu very itttic anu sh-tS ioi tht
entire week have been less than have
sometimes been recorded in a single active
day. Though currency is at a premium of
to per cent, the demand is less than
week ago. Some banks have opened spe-
cial accounts for customers making cur
rency deposits, while these and many
others request ordinary checks to be
stamped for payment through clearing
house only.
Receipts of gold from Europe during
the past week have been 50, 70o, 900, but
the Bank OF England has raised it's rate TO
B per cent, which In expected to stop
further shipments OF gold 10 this country,
and the Bank Of France has lost during
the past week about 81 ,GO0,000
whero Is All the Money?
Men ask in vain what has become of the
money. Although So, 900, 900 in gold has
been received in August the New York
banks held 50, 100000 less specie, SO. 400, 900
less legal tenders than at the end OF July,
and the treasury also holds about 81, 900, 900
less gold and 81, 900 900 less legal tenders,
and has outstanding 81, 600, 900 more treas
ury notes. The absorption of money, L. is
evident, has not yet ceased, and credit
substitutes In use are as yet poorly
supplying its place.
The failures for tho past week number
40 in the United States and 20 in Canada.
OF the commercial failures in the United
States l49 were in eastern states, 65 in
southern ana 1S0 In western.