Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1893-11-11
FINANCE AND TRADE.

AhV OutlOuk InTOUkHDut tHcfl
Country as Seen Through X. q. Dun Il
Cos. Weekly Review-Good Effects of
silver-Purchase Repeal Already Becom-
Ing Manifest in Legitimate business, |
But Speculation Not Much Affected |
The Weekly Failures, Ect.
New YORK, Nov. Ar. G. Dun h
Co.'S weekly review of trade, issued to.
day, says:
The repeal Of the silver purchase act does
good already. The business world in every
part OF the country reckons 1t helpful and the
tone is more confident. 1t is hardly time as
yet for the effects to be felt to any great ex-
tent in manufactures, but bankers are more
liberal in accommodations, and merchants
more hopeful In purchases. 1t Is well to re-
member that the act will do less good than II
1t had been passed early in the spring, or the
day after congress assembled 1t cannot now
prevent several thousand failures which have
already occurred, nor relieve creditors from
resulting embarrassments. 1t cannot now
save from loss a multitude OF
manufacturing establishments which have
closed because the future remained un-
certain. 1t will go far to restore business con-
fdence, which was much needed; but many
may expect from the measure larger results
| than can at this late day be realized. Thus, In
| the stock market during the past week, al
though the action OF congress and the presl'
| dent was correctly anticipated the average
| of prices declined 81 per share for railway
| stocks and Sl75 for industries, though the tone
| is fairly confident. The dilflculty is that
| large proportion Of the buyers during the past
month, have been calculating to realize with
| profit on the passage Of the bill and those VINO
realized first did best.
| The action OF congress had less visible In
fuence upon speculative markets for products
| In part because foreign markets obstinately
| refused to accept the higher valuations Whlch
| spectators here tried to establish. Ihough
| people across the water award unstlnteu
praises to those who secured the passage OF
the repeal bill there is not much disposition 10
| pay higher prices on that account Tor whcat OF
corn. In view Of the great abundan ce OF money
at speculative centers the weakness OF mar
kets is more significant. Wheat was cents
lower. receipts being 66i47 bushels for the
week, against i0l ,ii3 for the same week las
wear: while exports we're only sci, ,Si5 bushels
against 247l ,750 last year. II foreign countries
are on the verge OF famine their traders do no.
seem to have discovered the fact Corn re
ceipts were larger than last year and prices de
cinol a fraction Oats advanced HUE
though the receipts continue large
Industries could not be expected to make an
material gain as yet In consequence OF he'
financial conditions; but the demand for textll
products has TO some extent improved. care
fnlly scrutinized the increase of orders aI
pears to be almost wholly due to the graduf
exhaustion OF stocks In the hands of dealers
wholesale and retail, and not yet TO any appr'
ciable increase in sales to consumers. In
most astonishing shrinkage ever known !
purchases by consumers has been at the bo
, tom Of the prostration Of trade and manula
lures. and as vet there is scarcely any sign
Improvement in that respect But as reta
stocks run short, and in turn wholesale stocl
| are depleted tho mills feel an increasing q
mand, mostly IN the form OF numerous sma
orders for immediate delivery. This kind
demand has kept many mills running durlf
l the past week, though the lack OF orders nj
: closed more textile mills than have resume
y The sales of wool have been materially
creased by purchases for some large worsl
and dress goods works. presumably pecau
l they have orders for continued operator
c even though it may be for short time on
n md the sales at the three chief markets VIC
445s 500 pounds, against 7058,"53 last ye'
making for four weeks 13 685, ,6oa pounds, again
l. 20 O31 Q53 for the same weeks last year
d The metal al-working industries manifest It'll
q gain as yet The miner metals are weaker
the whole, though speculation lifted lead
trihe to 35c but large sales afterwards
Cured at 34c. Tin was depressed at 2ui
e conner was sold at o 75c for lake. As yet, II
Is and steel manufacture shows scarcely
20 signs of recovery. There has been some
- crease, it is judged from printed reports,
IL the number OF furnaces in blast,
n the output still appears to largely exceed
copsumption and there is more pressure
Il sell pig iron than to buy. The orders for
- ished products are still small, and do not
\ near TO be increasing and while at Ffttsbu
e. some orders have been secured from the
by exceptionally low bids, at the joliet wo
,f the prices quoted are on the whole lower u
last week There is not much doing In 81
~ rails. although sales are reported at WI
JS ton, a decline OF s7, and bar and structural
are also lower.
"a In boots and shoes o somewhat better
:. mand appears, and yet not enough to keep
~ works fully occupied. The shipments fr
10 the east for the past week were ,s67 ca
ngainst 35s 6?S last year
RI, The volume of domestic trade gains
"a little exchanges outside New York being
per cent. lower than last year for the w
The exports of products for the past me
n have been about 81, 900, 600 larger than last
in while imports have been about Sl4U
smaller, which indicates an excess OF exp
of s3o 600 900 for the month The railroads
nc been doing little better, but returns do
come up to those of last year The treas
at has been gaining in reserve most OF tho W
,r. Failures for the week number 1858 in
=, United States, against 2S last year, ana
~ Canada, against 81 last year