The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1893-09-09
FINANCE And TRADE.
Condition of Great Industries Has
Distinctly Mended.
THE PRODUCING FORCES INCREASE

More Works Have Resumed During the
Past Week Than Have stopped Opera
tion-The Premium on Currency Has
Almost Observation-Disclosures Failures.
NEW YORK, Sept 9.-R. @. Dun g. Co.'S
weekly review of trade says: Improve
ment has extended from the banks to the
\ mills. The condition of great industries
has distinctly mended, though still seri-
ously depressed. More important by far
than any rise in stocks is the fact that
more works have resumed during the past
week than have stopped operation, so that
tho producing force of the country, after
months of constant decline, has begun to
Increase. 1t is expected that most Of the
Fall River mills will start soon, the hands
asserting to reduced wages.
The money markets are more healthy,
the premium on currency has almost van
ished, the embarrassments In domestic ex-
changes have well nigh disappeared. and
/ while very little money is yet available
for commercial or industrial loans. there
Is some relief in that respect also.
IL was time for some improvement. Sept.
the output of iron furnaces in blast was
only s5,5lO tons weekly, against 107, ,043
Aug. and 1881 May /, so that much
gagged, and yet the manufacture was so
stagnant that unsold stocks of pig iron in
creased % 900 tons a week In August. 1t
Is stated that further reductions In the out
put have been made since September be-
gan.
The Thomas Iron company has reduced
Its price for pig iron fifty cents, but some
other concerns are selling standard No.
much lower-at Sl4 per ton. Soft steel
has reached the lowest point on record, SEQ
at Pttsburg, and substantially all rail
mills in the country are idle. but there Ia
somewhat better demand for hardware,
wire rods, barbed wire, and contracts for
architectural work and agricultural i'm
plements supplies are reported at Chicago.
While money markets have greatly i'm
proved, they are yet lar from the normal
condition, and the crops are in doubt The
prospects for corn have not improved, aud
the injury done by drought seems to in
sure much smaller yield than was ex-
pected. The price During the week has
advanced fully l16c. Western receipts Of
wheat have also been only 8,375,557 bush
els for the week, against 7,82a.054 bushels
last year. and as accounts of short crops
abroad grow more definite the price here
has strengthened fully 1c, Exports for
the week have been only Q, 100, ,725 bushels,
against 2,4Ts, 1853 for the same week last
year.
Cotton has advanced to cents with as
surance thet new treasury arrangement
will facilitate the supplies Of money for
moving the CROP. After touching s cents
the price has fallen q sixteenth, and crop
reports are still favorable on the whole In
spltc Of the damage by the storm in South
Carolina.
That the volume of trade has been small
of late is not surprising. Exchanges
through the the principal clearing houses,
outside New York, continue to show a
large decrease in comparison with last
year. The monetary situation has changed
but little, for there has been abundance Of
money. and only confidence in employing
u is lacking
The stock market has been somewhat
wenker during the latter part of the week,
with considerable realization of profits,
and more attention Is paid TO railway earn
lngs. which thus far show q decrease Of
1913 per cent. for August. The average
price Of active stocks, rising % per share on
Tuesday, has gradually declined.
Failures for the week have been only B23
In number, against 9S5 last week and 4s0
for the week preceding, and 25 in Canada
against SO for the same week last year.