The times. [volume] (Richmond, Va.) 1890-1903, 1893-12-16
TRADE STILL WAITING.
ryr TOLUME or BUSINESS. now
EYER, COMPAHATfrELY LARGE
pboneh on = More Hand To Hand Basis.
Numerous Failures Condition OF
Trade in the south.

NEw YORK. Dec. i5.-R. G. Dun &
RS weekly review OF trade tomorrow
wi aay'
r is proof OF The enormous vitality OF
,r. country that while mills are stop
,..,e in every direction. and the army Of
...,mploycd is larger than it has been
<,r many years. other mills arc constant
81, starting zap TO answer tho demand
,.si.h "a single year OF unprecedented dis
..,-r has only diminished. Industry is
sJnr nothing ON speculation. but The
..,ls which the wonderful growth and
-.., prosperity on tho whole have created
= depressing effect upon supplies exhaust
81 bv months ~ reduced production.
~--4fo SIN waits as much as 80 can, ana
,e the volume Of business on a more
isnd-to-mouth basis is such AS would
.ayo been called large a few years ago
Measured 10y clearing house exchange, IL
q. Ia pcr cont Jess than a year ago, the
5.rcaso being greater a. the West ana
S,.th and less at tho East. Measured by
-.-oad earnings. IL Is 1926 per cent. less
Gan a year ago, the largest decrease OF
..e week since September. partly be-
use passenger increase no longer masks
4--|sht dccrcas and partly because OF
Mobilization in trunk line freights:
IN While the decrease on those lines is
81 s per cent. 80 IS 20 on western wheat
0lrylng roads, and 261 on Pacific roads
reporting
Iron workers have accepted lower wages
g, the Pittsburg region. and numerous
vor.s have resumed. Thus the output
n zig iron suddenly increased from So.
on tons weekly November LIST, 10 93.3l9
December 1st. but II Is only "a per cent.
OF tho whole output, 1851 tons. last
Nay. The fierce struggle OF the Pittsburg
-uou Tor business drives prices to the
lowest point ever known, Sii for Bees
seuer iron and 500 for steel billets and
takes away nearly all new working East
erd West. where depression Increases
Yff. some additional furnaces went into
hast last week. In cotton manufacture
there is much hesitation. and process Of
leading blcached goods has been reduced,
reeIung in larger sales. willie other
Ines are an moderate demand. The
money market has been scarcely at all
affected by the export Of $4,000 gold
to Germany on gold bills. and Il is natural
that uc bankers are willing i'm present
coalitions % aid the Treasury by supply
iug as much as $4,000 900 gold for export
Ell a larger movement must appear be
fn,e very long. unless trade conditions
change. In exports or merchandise for
fhe month Of December, the decrease was
s fnH0. or ~ per cent. while the de
crease in imports was 81. 10000, or per
cent? Tie week has brought fewer sales
g. stocks by foreign holders than usual.
and some buying. Commercial paper, II
bought az AN, goes az lower rates, but
! ere VS. much which the banks. even
3 oil. a.
1lo banks have also aided the Treasury
b. keeping back due bills for mutllated
notes deposited. a. virtual loan. which
amounts 60 5000 900 a month. But Treas
rT receipts do not improve. and the
banks here have somewhat generally ad-
scd the administration to provide with
IIt delay against future contingencies by
come form OF short-time loans.
Failures are numerous and large 500
10 Che United States for the week,
against 20 last year. and 40 In Canada,
.gainst p last year. being recorded.
Trade Dull In the south. |
NEW YORK. Dec. 1J.-Bradstreets to-
morrow viii say.
Aside from moderate Improvement in |
uand, On one or two lines at Milwau- |
d" 81. Louis. and Louisville, and at |
savannah, Chattanooga. and Houston, /
Ie OF which have special significance. |
uo.al trade remains at duh. i'm many /
stances, as before Interval for stock /
lknc and preparing for next years |
'Ide is only i'm small part responsible. |
neral trade is OF q filling i'm. or re-
.der variety. but smaller I'm volume than
tomary al this time. Even the holiday /
,ale has fallen FAR below expectations
ID 40 directions. At many points the
u.y commercial activity observable IS at
..H a.. H...Na. Hsf a. I
auds among agriculturists and wage
ancrs. in some portions OF the South, is
hreking trade. In Industrial lines at
iliug eastern centres distress among
Ile operatives h more conspicuous. and |
mauds FOR contributions in aid OF the
fcriug unemployed are a feature of
Ie holiday season at many cities and
IHus.
Work Is said to have been resumed in
hole or I'm part at twenty-eight estab-
hments. this week. but twelve are re-
arted shutting down; seventeen have
It wages from six 10 twenty per cent.
11 six have reduced working time. or
mber of employees. Prices of cereals,
1rk and beef products. iron, and steel.
nI sugar are lower on freer receipts.
resent or prospective. and indisposi-
900 OF purchasers to anticipate wants.
Further cuts in iron and steel fail |
l stimulate consumers. and continued
foundations of bank funds at larger
tiles point 90 the extreme shrinkage i'm
le volume Of trade and the prospects OF
iil greater stagnation during the open
g weeks Of the new year. Increased
rcngth I'm cotton IS based on buyers
sCrediting large crop guesses. Conces-
ons on wool prices would not induce
.anufacturers 90 buy for future. wants.
view of the unsettled position OF the
riff trade Eastern wool as well as
ltton mills expect i'm some Instances to
lut down as soon as orders on hand |
re executed. Mercantile concerns West
nd East ar somewhat improved.
Holiday specialties mOnopolize what |
cuvity there Is in trade lines at Rich
lond, which with sales Of gro
cries. is true at Nashville. Memphis.
"a Charleston. At Savannah there
an active demand for cotton
ld naval stores are firmly held. |
rade prospects for the now wear
Atlanta are believed 10 be encourae-
g but at present funds are scarce |
hlch. with competition between bank
pt stock. tends 10 minimize profits.
Mobile the volume OF trade has fallen
r. as a. Birmingham and New Orleans
some sections OF Louisiana cotton and |
.c regions. the outlook lis not promis-
g. At Little Rock and Galveston
ivity appears confined TO holiday
ecialtlcs.