The Providence news. (Providence [R.I.]) 1891-1906, 1893-04-08
THE WEEKS BUSINESS.
The Feature Is the Reaction In Prices
Of Some Staples.
A GOOD DEAL OF BULL TALK,
no stringency I'm the Money Market, Al
though Rates are High Enough -
The Railroad Situation Has Consid-
cradle Effect.

xyEw YORK, April s.-The business fea.
lures of the week are the reaction In
D ric es of print cloths. prints, ginghams,
cotton, rice. coffee. whiskey, tobacco. cat
tie, hogs and oats. and higher prices for
hides, silks and lumber, sugar, corn and
wheat: somewhat smaller aggregate
deman at Eastern cities for spring sta
ples owing to lateness OF season, an inn
proved demand but no better coll ections
at the majority Of Southern cities; quiet
almost 10 dullpess despite favorable
weathe 7, in Central Western sta es, with
a marked increase in demand and remit
tances furt her west aud in the north west
March bank clearings aggregated 50,
BIZ, ,000. 900. or 2.3 per cent more than III
1892, following decrease of IS per cent.
in February clearings this year from
last Three months clearings aggregate
sic. 305 000, ,000 or l.3 per cent. more than
in 1892. Notwithstanding decrease Tor
the quarter at New York, Philadelphia
and Baltimore.
Wheat Stocks
Wheat stocks, United States and Can
da. added to totals held in Europe and
float for Europe indicate the aggregate
20 have been practically stationary from
feb. TO April 1, the variation ranging
rom 17S, 060, 900 to 10000, 600 bushels
Exports of wheat and -four from the
United States, both coasts, this week
equal 3, ,635, 900 bushels. against 2,o75,OO0
bushels last week and 2,959,0 900 in the
week q year ago.
There were reported 1856 business fai l.
ures in the United States this week,
against 40 last week, 165 in the first
week of April, 1892, aud LIS in the week
of the year before.
Speculative interests in the stock mar
ket show increasing confidence in the ef-
xf< ha lie fair ha
and general business, prices having i'm
proved under the lead of the Vanderbilt
and granger stocks. Tbe>market is, how
ever, narrow, and exhibits little i'm
provement in outside participation, great
dullness characterizing the situation at
10 high but dull, with limited inquiry.
A shipment of 81. 100000 gold was made
to Europe on Tuesday, and a further
large outflow was expected for today,
the amount. however, dwindiing down
to 100000.
It is Tar from beinga
Strong or satisfactory
condition. There is great deal OF bull
talk heard. and possibly the railroad
situation may warrant it, but extraneous
Influences stand In the way OF any per-
manent upward movement. Probably
the most potent adverse factor is the un.
certainty regarding silver. The resump-
tion Of gold shipments this week has had
a depressing effect upon the market, aud
caused investors to halt for time.
The general list is about as high as the
many aud varied disturbing elements
permit of. The railroads of the country
are in the process of liquidation, and be-
fore the process is completed, large
amount OF capital must be wiped out,
and the average investor Is uncertain
just wh ere the dissipating and vanishing
process will touch. There have been q
great many turnovers In the railroad
world the past few years, aud there Is
reeson for believing that some roads
which are regarded as sound may be
forced to 20 through refining process.
The Money Market.
Boston. April 8-The first of April
was passed in the money market without
any stringency. Rates were firm, but
money was q bundant enough for all pur
poses. Rates are still at high figures
but it Is safe to predict that lower quota.
tions will be made before long. The
spring demand for funds usually makes
itself felt principally in March. aud this
year there was no exception to the rule
Money was excessively hrm during tht
carly part OF last month. and the business
community was very free borrowers. Tn,
firmness Of rates, and the uncertainty
att ending the financial outlook in thii
country, probably led to a much freei
Offering OF business paper than would
otherwise have been the case Conse-
quently the demand for money for some
time to come Is likely to be light, and rs
money returns from the West, and n.
letteEs of credit make in favor of thu.
country on account of the Worlds fair,
rates will undoubtedly be comparatively
easy.
At Southern cities trade is Irregular
an IMPROVEMENTS previous advices
were almost uniform as TO dullness
PittsburR and Baltimore alone, among
larger Eastern and Middle state cities,
report specially improving trade condl-
tions. Special kilograms from tho Cana
dian dominion indicate that the return
OF wintry weather has affected trade.