The times. [volume] (Richmond, Va.) 1890-1903, 1893-10-07
WEEKLY TRADE REVIEW
BRADsfREET's 4ND DUs's REPORTS
OyTHE SITUATION.
Dificult to Detect Any signs of Improve
ment-Attributed TO Uncertainty ne
garding the Action Of the Senate.

NEW YORK. oct. 6.--R. G.. Dun & Com
panys weekly review Of trade tomorrow
will say:
It is difficult to detect any signs OF I'M
proyement. While there has been some
addition to the number Of manufacturing
establishments and the number Of hands
at work during the past week, 1t is be-
coming painfully clear that the orders
obtained do not suffice to keep employed
at full time even the limited force at
present engaged. The business transacted
is still far below that Of last year In
volume, in railroad earnings the decrease
being 1876 per cent. IN spite Of large
Worlds Fair business, and I'm payments
through the principal clearing houses out
side New York the decrease is % per
cent.
Reports from other cities disclose a dis
iinct check in business. There is on the
whole less activity and less confidence fe-
gardns the future than there was week
ago, and this is in many cases attributed
10 the uncertainty regarding the none
tary future which delay in the Senate
causes. While the volume of all kinds Of
money in circulation has increased SA,SH-
247 during the month Of September, and
Is now greater by almost Sl06,W0,VO than
ii was this time last year, the embarrdss-
ment IS now, as II has been all the time,
due to a lack Of confidence rather than to
a lack of currency.
The stock OF money in New York banks
has increased rapidly, and the retirement
of clearing house certificates here and at
other cities show a great Improvement IN
the monetary situation, and yet there is
ts,N fFFaA n IL
dence upon which commercial or indus
trial loans mainly depend.
There is not such encouragement as
might be desired In the industrial reports
for the week In almost every department
| orders are found too small to keep the
restricted working force fully employed.
| Many concerns are working short time,
| while the general reduction In wages also
| affects the purchasing power Of the mil1
| lions who still have work. An increased
number Of establishments Is reported IN
| operation, but the sagging Of prices in
/ print cloths and some other cotton goods,
and in the most important products OF
iron and steel, discloses greatly retarded
| business.
1t is possible that the surplus currency
| in circulation has it's natural effect m
| stimulating speculative activity. Hap
! PLY the changes thus FAR have not dimln-
/ ished the exports Of products, which con-
| tinue fairly large. Failures continue 20
decrease in numbers and importance
though not as much as has been hoped
The number reported In the United States
| during the past week has been 800 against
1si for the same time last year, and IN
Canada 45 against SO last year.
Bradstreets Report.
Bradstreet's report will say:
Slightly more cheerful reports from
leading Southern trade centres, largely
due TO freer movement Of cotton anC
the advance IN price Of that staple coupl
ed with more numerous adyices OF i'm
proved trade distribution at Westeri
and Northwestern centres constitute tn
principal points Of interest in telegrami
to Bradstreet's this week. Trade was in
terrupted at New Orleans and Mobile 10y
the disastrous Gulf storm early i'm th'
week, but late advices are TO the effec
that staple crops have not been material
ly damaged There is a very general re
port Of slightly improved collections from
the South, coupled with the statemen
that October 1st settlements have beer
fairly well met. Naval stores hay'
strengthened both IN demand and price
Texas trade reports are more favorable
except that at Galveston conservatism
ia granting credits has restricted ditri
button. A good supply Of funds for NOV
ing the cotton crop is generally reported
From the East, reports are less favorabl
except from Baltimore, where Increases
sales are reported. The dry goods deman
is below the average at Boston and Phha
dephia The demand for iron and stee
is still limited by immediate wants. Price
tend lower, and cash purchasers max
their own terms. Reports as TO collections
class them generally as only fair. Ind
cations OF Improvement In this directio
come chiefly from the South. The finan
cial situation at New York is affected b
the delay and uncertainty as to the Sen
e | ates action the further increase In th
: supply Of loanable funds being attende
by conservatism In putting them out
) Foreign exchange weakened on freer OF
ferings OF bills against cotton. The Ne'
York stock market Is waiting for IN
outcome on repeal, speculation being a
a standstill though prices are steadie
by the absence Of liquidating pressure
and the ease Of the call loan market.
Damage by the great gulf storm ap
pears to have been largely confined 10 IN
region south OF New Orleans Trad
there has been interrupted, but crop
have not been materially damaged. Cot
ton and rice sell freely. The first new
the interruption Of business has beei
less than expected. Trade IS picking up
| At Galveston trade is restricted by tn
| caution Of jobbers and wholesale house
in selecting customers and granting cred
its Cotton moves freely at improve
prices At Savannah naval stores ar
very firm and tend upward Cotton move
freely at higher prices. Country collec
tions are improving. There is bette
tone at Charleston. Orders are sma
but numerous, and collections are bette
October paper has been fairly we'll me
Trade is improving at Dallas, and at othe
polnts in Texas. Some cotton is .bein
held for higher prices. The wheat acre
age is being increased. Banks are hand
| ling all cotton offered. A cheerful Zee
ing prevails at Memphis and moderat
increase in business is reported. Aetua
| needc- govern the demand az NashFli'
! | Hardware and groceries are more acuF'
AS whole business for the summer an
| fan will be below the normal Coilee
lions show scarcity Of ready money In th
country. Trade is not improved az bh
mingham. and collections are unsatisia'
! ! ,orv Collections are good at Atlants
A few country customers nave oeeh vi
Z abia m nav. Manufacturers apd retailer
renort no material improvement Dr
, | goods and hardware are in better deinah
az chattanooga Heavy HqGidatlons Q
Octoher fst. have resulted SATISFACTORY
|, - Augusta trade. Collections there al
: ,mnrovtng. Provisions are In strong d'
mand. Dry goods and shoes also sho'
' ,n,,rovement. Cotton receipts are ahea
2 Stas, year. Factors and buyers e,