The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1893-09-09

More WorlSB Have Resumed During the
Past Week Than Have stopped Opera
tion-The Premium on Currency Has
Almost vanished-Businoss Failures.
New YORK, Sept. Or. G. Dun & 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
the 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 en- barrassments 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 thdt respect also.
II was time for some Improvement Sept.
the output Of iron furnaces in blast was
only $3.50 tons weekly, against 107 042
Aug and l,55l May 1, so that much
less than half the producing force was en-
gagged, and yet the manufacture was so
stagnant that unsold stocks Of pig iron in
creased %, 600 tons a week in August 1t
is stated that furtherreductions 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. $40
at Pittsburg, and substantially all rail
mills in the country are idle, but there Is
somewhat better demand for hardware,
wire rods, barbed wire, and contracts for
architectural work and agricultural inn
plements supplies are reported at Chicago
While money markets have greatly i'm
proved, they are yet TAR from the normal
condition, and the crops are IN doubt The
prospects for corn have not improved, and
the injury done by drought seems to in
sure much smaller yield than was ex-
pected The price during the week has
advanced fully l11c. Western receipts Of
wheat have also been only 1878, ,557 bush
els for the week, against 1870 O54 bushels
last year, and as accounts of short crops
abroad grow more definite the price here
has strengthened fully lc. Exports for
the week have been only O. 16O, RS bushels,
against 2, ,473, 1888 for the same wee k last
year
Cotton has advanced TO cents, with as
surance thet n new treasury arrangement
will facilitate the supplies Of money for
moving the crop. After touching cents
the price has fallen a sixteenth, and crop
reports are still favorable on the whole in
spite 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
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
it is lacking.
The stock market has been somewhat
weaker during the latter part of the week,
with considerable realization Of profits,
and more attention is paid to railway earn
ings, which thus far show a decrease Of
/ 1913 per cent. for August. The average
price of active stocks, rising So per share on
Tuesday, has gradually declined,
Failures for the week have been only 828
in number against 3S5 last week and 49O
for the week preceding, and 25 in Canada
against 33 for the same week last year.