Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-09-09
TRADE ON THE MEND
Textile. Metal and Iron Industries
to Stan Up
DUN 4 cos WEEKLY Rsyifw


NEw fonk. Sept ar Q. Dun 4
Cas- weekly review q usae ss1 saf.
improvemeni hes exiended from ilse
banks % the miliS The condiiion -
great Industries has distinctly snan1ei
though slill seriously drIssr~ed Nous
Important ~ far than ars rie Ia sioclf
- the fact that more sFoFks have 70
Eamed during the past week han have
stopped operation - thHl fbr tfo0Ocin9
force a the countr,. after saouths a
constant decline. has bs'gun % incressa.
Dispatches mention tuenty eight textile
and thirty metal xorka which have re-
snmed. some only with part tors. while
twenty hte fekfile and nine lron works
hare stopped IL is cxpsctod thai n.asf
81 the fan River mile uiil start eaon.
the hands assenisng 20 reduced Naaos
The money market h more healthy. the
premium on currency has almost fan-
isbed. the embarrassmenis la domestic
exchanges have vel nigh disappaArs.i.
and while very little money Il ~ avail.
able for commercial and int.ustfiul lnsns.
there a sonae reiicf IN that rosFsct also.
cosassioa Of Iroa Trade.
September the output q iron fur.
naces in blast Was Only s5.5l0 fnns
weekly against lns.oEl August ] and
Isl 1ol May I. 80 that much lees than
hall the producing forces wns engaged.
and yet the manufacture was staenanf
that unsold stocks q PIC iron increased
22,po0 tons a week n August IL -
stated that further rednctions Ia the
output have been made since Sepieul,or
began. The Thomas Iron company has
reduced it, price for pig iron 90 cents.
but some otbcr conccrns are selling
standard No. a. los ~ fl4 Der fot.
Soft steel has reached the lowest point
on record, f20 at Plttsburg, and cub.
stanfislly all rail mills In tho county are
idle. but there IL soncehat better de
mand for hardware. wire rode, barl.sl
wire. and contracts Tor structural work
and agricultural implement supplies are
reported az Chicago. Sales ~ uooi
have been the lowest on record Cor
years. l.21-A0 pounds af the principal
markets for the last week against 1,6l6.-
500 FOR the same week lasi year. ths
average 81 l0i grades being IL cents.
the lowest for many years aud in sh-
manufacture IL can hardly BE- said thai
recovery appears
tott1H nttt- ~t4ti u
In cotton mills resumption q work IL
quite general. The paper business IL
doing better. But shipments ~ loots
and shoes from Boston were again g
per cent smaller for the week than last
I year. and Ia three months they have
been about 10000 Cases against ! 100.
900 last year. Chicago recoipis ~ cattle
in August were 3v,12i bead. against
3ls,50l last year. decrrase 4 ever -
per cent These evidences e the esfent
of the depression are needed now he
cause they show why the sudden reeos-
cry which some look Tor is not possible.
IL must take time 20 revive euriaoss
after such q shock as Il has sustained
and there Il no occasion ia diaheart.
meDt IL recovery IL slow. Wh.ie Qonoy
markets have greatly improved. they are
! yet Tar from the normal condition and
the crops are In doubt The prospects
for corn have not improved and the Ia
jury done by drought seems % insure =
much smaller yield than was expected.
The price during the week has advanced
fully IL cents Western receipts ~
wheat have also been only 31.3357
bushels for the past week against : -.
O5s bushels last year. and a. accounts -
short crops abroad grow more definite
the price here has strengthened faiis l
cent Exports for the week have hecn
only 2.f6o.72a bushels against 2s73.7s1
| for the same week last year. Cotton has
advanced % ) cents with assurance thai
a new treasury arrangement VII faciil.
tate the supplies ~ money Tor moving
t1e crop. After touching : cents the
prlce has fallen a sixteenth and crop 70.
ports are tiili favorable on the ehals 10
spite II damage by the storm IN south
Carolina.
Many Ranks iesnma
That the volume Of trade has ben
small 81 late h. hot Surprising Ex
changes through the priiicifai clearing
houses. optside - New hofk. coDfinue
90 show a large decr.afe ia comparisnn
with lakt scsr. for 81 iasf week ~ 2f.3
per cent although several hanks which
were forced O. stop in July and August
have resumed this week. the numerous
| failures of two naonfhs have thrown into
confusion the calculation q merchants
and compelled them 80 c1rtail ofnra.
tlona fncompiefs returns ~ asariE and
liabilities fof The month II Aurosf nflou
that the Liabilities is ahosf GA fsA.
uree amounted 90 So 1tt1Un. and fite
returns for the remaining failures - tbs
month will probably raise the amount
above eso0pf0o The sesets reported
uere s6s .s1s 10. add While 20 - tie
failures xith - 7s10 90 liabilities we're
At the west. there we're sfs with f1i.-
effU7 liabilities ia eastern sfEffe and
40 with tssC1 .o1s lisbiiifies IN rsuthefn
stsfes This hody 81 defsulfed liaiSih.
tee for the single month ~ August sr-
ceels the eRgregsfe Tor any entire
quarter exceps i've during the Iass sif
teen gsars
Monetary sif.sfisn
The mon-tsrs siiusfien hss uksneed