The enterprise. [volume] (Wellington, Ohio) 188?-1899, 1893-08-09
CONDITION OF BUSINESS.

n. q. Dun q Co.'s Reviey of Trade Re-
ports More Healthy Tone, Inspired py
the Heavy Imports OF Gold-Monetary
Troubles Now Expected to Abate.
New YORK, Aug. 5.--R. G. Dun q
Co. IS review of trade says; Demoraliz-
alton in speculative markets has been
followed by more healthy tone and
heavy imports of gold inspire hope that
the monetary troubles may abate' Inc
week has been one OF surprises.
Enormous liquidation in wheat brought
the lowest prices ever known, on Tues
day. The crash Of the pork ring took
forty.five cents from the nominal price
of that product in an hour and caused
several failures for millions export.
Extraordinary depression in stocks and
a slaughter which included some OF the
best were quickly followed by bear
panic and sensational advices Mean
while in money markets there has come
a singular sense OF relief, notwith-
standing actual increase in present en-
barrassments almost amounting TO
paralysis Of exchange between the
chief commercial cities and Of many in
dustrial works, because Of the demand
of 2 per cent. for currency fails TO
secure what is needed for payment OF
wages.
Hopes are fixed on the ships bringing
over sl1, ZOO, 900 gold across the sea and
on the extra session Of congress which
will begin on Monday. Several 9f the
largest and boldest operators at Chica-
go have been crushed under pork bar
rels, but the instant increase Of foreign
purchases convinces the market that
the disaster has brought certain
measure Of relief.
The monetary stringency which at
last crushed speculations in wheat and
hog products, has been caused in part
by their prevention Of exports and
their absorption Of enormous capital In
carrying unprecedented stocks of pro-
duction which, II sold in time TO for
oign consumers would have brought
gold enough to avert much evil. Wheat
has recovered about four cents and
pork $500 or more at Chicago, and or
ders for exports have caused sudden
advance in ocean freights.
Closing OF shops and works for lack
OF orders is the overshadowing fact.
Yet many stoppages are only for q few
weeks, unless circumstances should
lead managers to extend them, and it
is believed that the consuming demand
has not been reduced in proportion to
the present decrease of production, so
that better orders may presently ena-
BILE many works TO resume. Sales Of
wool are not third Of last years, and
since the new clip the decrease has
been 44,794, 524 pounds or about 40 per
cent. Most of the large carpet mills
have closed, large share OF works pro-
ducing mems woolens and many Of
those producing dress goods, Aannels
and knit goods. Prices are weak and
yet so low that much decline seems un-
likely.
Gold imports may help to revive the
credits upon which great share Of
business depends. The volume Of do
mestic trade, indicated by railway
earnings, Is but per cent. smaller than
last year, and clearings at the chief cit
les show decrease Of Is per cent out
side of New York. While the failures
of the week number 4S6 against 100 last
year, great proportion Of them are at
the west, and IL is cheering TO note that
comparatively few Of Importance occur
except in connection with speculative
operations.
Failures during the week number 43o
in the United States, against 100 last
year, and thirty-four in Canada against
twenty-four last year. There were
three failures Of million or more; two
at Chicago, due to the break in the
pork market, and one in New York
City.