The herald., 1894-05-26
STAGNANT STATE OF BUSINESS.
The Du lest Season Known in
Twenty Years.
No Signs of Improvement in Sight
at Present.
Pessimistic Views of the Situation by
Bradstreets and X. G. Dun &
Co.-ContInusd DuIlpess
and Depression.

By the Associated Press.
New YORK, May %. Bradstreets
trade review tomorrow will say:
The unfsvorsble conditions prevailing
in commercial and industrial circles
throughout the country, together with
the prospect for no material improve.
ment during the summer, marks the
present season as probably the dullest
relatively for 20 years. At no time since
the panic and business depression man.
ifested themselves last year have reports
as to the volume of GALES of merchan-
the indisposition Of merchants generally
to buy, except for immediate wants, been
80 PRONOUNCED and so general through
out the country as during the past week.
Superficial examinations OF bust.
ness conditions leading to unwar-
ranted optimistic conclusions as TO the
nearby future of trade have not been
wanting. AS matter of fact, based on
a comprehensive and careful examine
ton, the next few months will prove
continuance, if not an intensifying, of
the existing conditions of extreme dull
ness and depression.
Quite unfavorable sdvices come from
Pittsburg, where there are numerous
shut downs. involving large numbers Of
men. The total number of industrial
employees idle az result of the coal
strike is about $4,000 and the total
number idle on account OF strikes, as
now appears likely, is 100000.
In other industrial lines $4,000 men
are reported idle as result OF strikes,
making the total number idle 225, 900.
An encouraging industrial feature is the
probable settlement OF next seasons
iron and steel wage scale without
strike.
Exports of wheat -four, including both
coasts of the United States and Canada,
this week equal 2,315, 900 bushels against
2,429 600 bushels last n eak, and 3, l06,-
900 bushels year ago.
The price movement as to staples con-
tinues to see-saw, cotton, wheat, corn
and oats reacting slightly from former
depressions, while wool, sugar, lard and
live stock all show declines The stress
OF the financial panic and trade convul-
sions in the latter portion OF 1898 pushed
many OF the weaker concerns to the wall,
so that February 1st last the average
number of failures weekly in the
United States had got down to normal
proportions. The total is 237, against
1877 last week, as compared with 247 in
the week year ago, when the total be-
gan to expand under special conditions,
and as compared with III in the week
in 1892.
R. q. Dun & Co.'s weekly review will
say:
Storms and floods. prolonged strikes
and large exports of gold have done their
utmost this week to give business va
cation. But the wants unsatisfed dur
ing the past year, belated and much
lessened and yet greater than those of
any nation, have caused volume of
trade quite large for the season.
Prices of products still tend downward
without much speculation. 1t Is sur
prising farmers do not retain wheat at
present prices when they can. Corn
has been stronger. Notwithstanding the
larger receipts and insignificant exports.
Cotton has recovered shade to TIC,
though receipts for the week were nearly
as large as last year and exports much
smaller. Pork products all declined,
with heavy receipts. The astonishing
cheapness OF wheat and cotton will
affect the rspidity of movement in the
fall and also will directly lessen the
amount of money required in moving
the crops.
While the iron industry, especially,
and many others, to some extent, have
been restricted by scarcity of coal and
coke, the number of works resuming has
been greater than the number stopped
from other causes. But it is a fact not
to be overlooked that the demand for
manufactured products, instead of in
oressing, appears for the most part
rather smaller than before, and the in
difference OF buyers is shown in the can
collation. of orders hitherto given. 1t is
a waiting season, but the disposition to
wait is thus far much intensified.
Failures diminish in Importance, the
amount of liabilities for the third week
in May being only $2,204, 1879, and for
the three weeks, $7,836,97 of which
so, 642, S67 was of manufacturing and
So .025, 007 of trading concerns.