Evening journal., 1894-01-27

Many Manufactures Have Resumed work,
While Few Have stoppsd-The working
Forces In the Mills Have Been Increased.
No Large Failures Reported.
NEW YORK, Jan. 25-Dun's Weekly Re
view OF Trade, published today. says;
Secretary Carlislc's decision TO issue
bonds aud the carly reports Of large bids
for them helped to accelerate recovery of
industries aud trade, as was hoped last
week. The sale Of the amount offered will
check anxiety about the maintenance of
note redemption, remove the only pretext
for further issues of paper and thus give
a solid basis for greater confidence regard
ing the financial future. The revenue is
still small-from customs in January thus
far, $40 ,jOl, against Sl09S5, ,0s5 last
year, and from internal taxes. S9.4S7.a10,
against Sli, ,O6S, ,49S-and the volume of do
nestle trade Is still small The increase in
the number OF hands employed adds TO the
purchasing power Of the people, and deal
eIs stocks are so reduced that any sign of
larger consumption quickly gives mills
more orders. In short, the conditions are
such that II not Interrupted by adverse
forces they would naturally bring a steady
revival Of business.
Definite Industrial Gain.
Industrial gain Is more definite than a
week ago. Few establishments have stop
ped work. while many have resumed or in
creased production, and though these are
not works employing thousands each the
| aggregate increase Is considerable. Reduc-
| tions in wages continue and about quar-
ter OF them are Of 20 per cent, the rest rang
ing from to II per cent. In no direction
are quotations of manufactured products
higher, but while some have actually de-
clined the general tone is somewhat strong
er. Thus distinct improvement is seen
in the demand for iron products at Phila-
delphia, though for some, which il was
Thought could not 20 lower, quotations
have been reduced. Tho increase in de-
mand for iron products is mainly in struc-
tural forms, cast pipe, wire rods, barbed
wire and wire nails while in rails aud 9TH
er railway iron business IL is remarkably
small. For the fourth quarter OF 1898 the
| reported cost Of new buildings in New York
and Brooklyn was S5,22l, no against Sl3,-
| fO6,2ll in same quarter Of 1892
Textile industries have increased work
ing forces mainlyin knit goods, underwear
! aad carpets, though several wooden mills
have started, and others are reported about
TO start. Sales of wool are larger, amount.
ing at the chief markets to 4, ,033, 200 pounds,
against 1901 $50 for the same week last
year, but prices at Philadelphia are to !
cent lower while at New York there is
more inquiry from carpet and other mills
Trading was checked by disappointment
regarding the date at which the changes OF
duty are to take effect, and there is little
desire TO place or accept orders until the
future is more clear
The Textile industries.
In overcoatings no samples of some prom.
inent makers are yet shown nor prices
named, and the kerseys opened are from
% to 35 cents below last years price. Worst
eds appear to have stronger position
and better business in dress goods is gen
orally reported for the week. Cottons an,
not stimulated, rs was hoped By the re
ductions announced, and the effect hal
been to make buyers Of other goods hol,
OF, 50 that the market is weaker.
Carpet manufacturers report improve
ment, especially in lower grades, and or
( ders to replenish stocks after months Of in
activity are nearly as large as a year ago
The shoe and leather trades appear to gair
a little though shipments from Boston fol
J the week are again "A per cent smaller thar
/ lastyear
New York banks again added to theil
enormous stock Of money, and offers arr
made for full year at per cent, the low
est rate on record for that period, while fol
4 short loans l per cent rules. Demoraliza
tion ia silver was caused by the abandon
4 ment of the proposed import duty by tn
= government of India and also of the hxe'
, price for council bills at London, but for
I eign exchange is not seriously altered.
, Failures in the United States were az
! this week, against 225 last year, and 55 il
E Canada, against 40 last year. None is O
great magnitude. The liabilities of firm
[ failing thus far reported this year amour
, to si3,66s 800, of which S6.O12, So were @
r manufacturing and S6,S0O,3j3 Of tradin
L | concerns