The star. (Reynoldsville, Pa.) 1892-1946, 1893-08-23
A RIFT IN THE CLOUDS.
Signs That the Recuperative Powers Of
Business Have Begun to Assert
Thpmseives


Themselves.
II. e. Dun & Co.'S Weekly Review Of
Trade says.
yet definite signs Of improvement are all
the better because they come, not from
possibly dclusive hopes or from momentary
foreign aid, but from the good sense and
won, erful recuperative power Of the people
themselves. Business is trying to go ah cad
without waiting for Washington. Imports
Of gold Of $1,000 900 or more during the
week do not so to the right SPOT, but the
people are creating home made currency
for themselves by using certified checks In
payn hands, selling local accounts and
pur hasing grain snd cotton.
Many concerns are failing or closing. but
assumptions are now becoming somewhat
frequent aud in the very shrnkage OF pro.
ductiOn men see evidence that denan must
soon oyerta esupply. No sucn shrinkage
resulted at any time in five weary years
after the panic Of 1873 as has already APPEAR.
ed in great industries. Pig iron does not
ially, but sells at eli here and sl3 at Pitts
burg for No. |, though the weekly output
has been reduced i6 per cent, since May I,
but few large iron and steel works are be.
have failed and "a stopped during the week,
~ have Resumed. Only third of the Con.
neilsville coke ovens are at work. but coke
at 81. % giver II better chance to iron manu-
facture. With such shrinkage ms has occur.
red IN the great industries IL IL only sur
prsing that railroad earnings do not dec inc
more, the decrease on roads reporting in
August thus far being IL per cent The de.
crease OF 20 per cent. III clearing outside
New iort last week and 80 per cent, this
week is only natural.
little more money is now found for
commercial loans, aud failures OF banks
have become both less important and less
frequent. though the greatest eau ton is
shown in accommodations. Speculative
markets have generally declined Il traction
IN lite OF crop reports which are not solid
enough 10 outweigh gr, NJ stocks IN sight
cotton ieli quarter OF a cent, with some
what better reports OF probable yield.
Wheat drags near the lowest figures even
known in spite Of the decrease in the visible
supply, for though Western ieccipts are not
large stock on hand is far beyond the power
OF REGULATORS to carry with money markets
III their present condition. The movement
OF corn Is decidedly large, with crop pros
poets improving.
The New York Gearing House has now
issued sT, $50, 00O certificates aud the Boston
Clearing House sll 2OO,OOJ, but more inn
portant relief comes from the abatement of
the uthln upon savings banks ana of the de-
n and upon other banks for currency TO be
used in paying hands in this and adjacent
states. But this decreased demand is of
itself evidence that the industries and trade
are greatly embarrasse !, many works hav-
ing stopped and many hands receiving no
wages The more hopeiu! signs which
appear should be interpreted with full
understanding that n genuine revival of
business cannot begin until larger demand
for goods. and better conditions Otherwise
enable grea er proportion of the shops and
mills to employ and remunerate labor as
usual. AS yet the works closing exceed in
number those resumirg
Business failures this week numbered 4Jt
in the United States. against 1872 the same
week last year, aud ~ In Canada against 2s
last year. OiUnited States failures l5i were
IN ne eastern states, y in Southern and 2l7
In Western States andsrerritories.
THE BUSINESS BAROMETER.
Bank clearings totals for the week ending
Aug, IL, as telegraphed to Brddstrecs, are