The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1893-02-16
TRADE: MARKS.
Weekly Review Of the Markets
and General Business.
TWO IMPORTANT EVENTS
That Cause Business Mon to Regard the
Future with Some Misgivings

Tho Reduction of Treasury Reserves
Causes Ncrvousness--The Present Con-
dition of Trade Throughout the Coun.
try Appears Excellent, Although Bad
| Weather Continues in the West.
New YORK, Feb. 1t.-R. c. ~ Dun
Co.'S Weekly Review Of Trade says
Two important events. the defeat OF
anti.silver legislation in the senate and
house and the concerted deposit Of gold
by New York banks in the treasury in
exchange for legal tenders, have directly
opposing but powerful influence upon
the markets and it is yet too early tc
determine what the net result may be
The confidence manifested by the bank:
strengthened markets on Thursday, but
the decisive defeat of silver legislation
in the house caused renewed discour.
agement and apprehension 1t is not
by all realized that the gold reserve of
800, 900, not to be used except foi
protection of note circulation, was ex.
pressly intended TO be used for that pur.
pose, and as far as it is so used the
notes go into the treasury in place of
the gold taken out. The banks, by
placing the gold they do not need in the
treasury instead of notes to the extent
of $500, 900 this week, reasonably hope
that their confidence may lessen the
disposition to withdraw gold. In other
respects the state of trade is satisfac
tory, except that severe storms and cold
have much interfered with trade, col
lections and transportation during thes
week, especially at the west. Business
at Boston is especially active in dry.
goods, with jobbing trade ahead of pre-.
vious years. Shoeshops are well EN-.
ployed and sole leather is higher. Large
deliveries occur Of rubber goods.
Wheat Shade Higher.
Wheat has risen II cents with small
transactions, western receipts being re.
tarded by storms, but there is nothing
to indicate that the unsold surplus at
the end of the year will be small.
Cotton declined three-siXteenths on sales
Of 100000 bales, for, while no i'm.
portant change appears in receipts Or in
exports, the continued pressure OF
enormous unsold stocks here and abroad
is felt.
There never has been a more phe,
nomenally satisfactory season for textile
manufactures or drygoods. Cottons
are higher, especially prints, though a
cut is seen in ginghams, but most mills
are sold for months ahead. Sales of
wool at the three chief eastern markets
have been 37,200,OO0 pounds, against
30, 700, 600 to date last year, an increase
of 81 per cent, and the season for mems
wear has been extraordinary in low and
medium goods. Higher sole leather has
stimulated demand for boots and shoes,
The output of pig iron Feb. was H..
451 tons, against 173, 06S last month,
and unsold stocks are reduced 6,7S1 tons.
Sales of 10000 tons of rails are noted,
with one large order for Cuba, but plate
and bar iron are weak. Consumption
OF copper is increasing and tin is steady.
No Cause for Alarm.
Exports are improving little, but the
outgo Of $4,000,0O0 in gold expected this
week is not due to trade balances. If
the tentative action Of strong banks
does not check the movement further
measures by the clearing house are con.
templated for prevention Of disturbance.
The treasury has not been losing gold,
and the soundest men feel that the
treasury and the banks operating in
harmony should be abundantly able tc
meet difficulties until the new admin
istration makes known its policy.
The business failures during the past
seven days number, for the United
States, 222; Canada, "A, a total of 26G as
compared with 301 last week and 29G
the week previous to the last. For the
corresponding week Of last year the
figures were 276.