Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-10-28
PORT is IN SIGHT
Business Stimulated Oses Pros
pect Of SiIser Repeal
DUN & co.'s WEEKLY REVIEW
stocks AdsAsced. hank Restraints
RelAxesi and Leans Freeiy sosghI
Customs iieceipss lncrs@scd.

10 ec&At fctt~N ~ tf44s tOl4oIfos
vii say: Port i in sight after Ioag
and stormy voyage aud the prospect Of
aspscdy end o. the struggle over repeal
has brought bright hopes 10 business.
Stocks climbed rapidly for three days.
banks relaxed restraints. commercial
loans are more freely sought and made
and reports frcm al quarters show the
presalence Of more hopeful feeling. This
itself tends 20 produce some revival Of
consumption and Of industry which
nevertheless has made but moderate
progress as yet 1t h still TOO soon 10
expect much effort ia trade and manu-
facture, and though obstacles are 30 q
large extent removed. there still remains
legislative questions which create IN
certainty. Opinion also differs az 20 the
extent Of improvement now 10 be ex
pected after 20 small a gain Wheat
rose ? cents. although Atlantic exports
fell 10 l.l00O00 bushels for the week
against 100000 bushels last year. ia
part because western receipts were but
5.Sb3.000 bushels against 100000 last
year. But corn declined an eighth with
better reports Of yield Coffee declined
SIG. pork products made only slight
gains and cotton fell quarter, receipts
being 60.ooo bales greater than last year
Heavy sale or stocks
The anticipation OF repeal and the
union OF Vanderbilt. Jersey Ccntral and
Lackawanna interest gave the stock
market three happy days Ia which
stocks rose an average OF s250 per share
and trust stocks s3d0 per share. and the
sales for the week have been 100000
shares. but on Thursday there came q
pause. Traders were taking profits OF
course. but more important fact was
that London emptied about s3.50O,000
worth Of stocks on the market rapidly.
This indicated less confidence on that
side than had been anticipated in the
recuperative virtue Of assured legisla-
ton. and coming 30 soon after the Van
derbilt purchase. suggested whether its
effects upon trunk line and coal-carry-
ing roads. though obviously encour-
aging. had been in all respects appre-
hended. This selling raised the rate OF
exchange IN the face Of the announce
ment that s5l0o00gold had been shipped
hither the same day from London. A
fact OF real encouragement 10 that rail
way earnings for the third week Of DC
tober show increase OF per cent over
last year. the first increase for long
time. Notwithstanding the large sales.
the market continued usually strong. In
other speculative markets, in spite Of
monetary comfort and bright prospects,
the gains realized were hardly more than
enough to prepare samples. The total
sale Of wool at the chief markets. in
Guiding several million pounds. believed
10 be for speculation. have been go. l52
pounds in three weeks, against II $4,000
last year.
Rail Mills Have Resumed.
Two additional iron furnaces have
gone into trust and the present output
may be little larger than at the begin
ming OF the month. Some rail mills
have resumed manufacture, apparently
10 provide for future rather than present
wants of their customers. and there is
some addition 10 the number Of nail and
and wire works and machine shops EN-.
ployed. But the demand for most pro-
ducts is small; steel billets are called
irmer at $50; ship plates are delivered
at Philadelphia yards at sl-55 aud bar
sells with decreasing demand for Sl3
at Chicago. III is hoped that monetary
ease may encourage railroad extensions
and more architectural work. but the
shrinkage in demand 10 not wholly due
TO the state OF the money markets. Lake
copper is sold at 91e; tin is a shade
lower, lead is quoted at Csc In spite OF
800 tons and spelter is firm only I've
cause OF large purchases for export
Customs Receipts Increased
The New York banks still accumulate
money. and commercial loans are more
largely asked and obtained. This
enables merchants TO take goods out OF
bond and may increase customs receipts.
which have amounted in twenty. i've
days 81 Octobe- 10 sl0.02s.09l. against
Sl6.3G6, $50 for the full month last year.
Apparently the months decrease viii be
about - per cent Internal revenue
has been better maintained. in the same
time ll.05252s against sl4, i52. sol for
the full month last year. The treasury
gold fell 10 nearly ssl. 10000. but has
since risen more than q million; pen
sion payments have been decreasing.
The number aud magnitude 81 failures
decreased les than had been expected.
tho liabilities in the three weeks Of DC
toher amounting TO el5.072.92D against
about 100000 Tor the same week last
year. This week there has been 81
failures IN the United States against Isl
last year and "A in Canada against %