The comet. (Johnson City, Tenn.) 1884-1916, 1894-05-10
Dun's Review for theWeek.

NEW YORK, May Sit is now, as it |
has been for nearly year, the amaze
ment of intelligent observers that the
United States suffers so little from re-
verses which other lands share, but
which fall more heavily here than
anywhere else. The past week has
seen events which would suffice to
cause or to explain much disaster
strikes OF nearly all bituminous coal
miners and coke workers, with nu-
merous riots, strikes of many thou.
sand men in other employments,
stoppage of many manufacturing
works in consequence, arrest OF traffic
on several great railroads by lawless
proceedings, and the tramping Of dis
contented men. in all numbering sew
eral thousand, toward the national
capital in the hope of controlling les-
islation. The lowest price ever known
for wheat, and almost the lowest prices
ever known for commodities as O
whole, exports Of $5,400,000 gold in
stead OF abnormally cheapened prod
ucts, and the fall of the Treasury gold
reserve below the $100,000,000 limit,
are significant OF widespread difficulty.
Yet the volume OF business is but 81 8
per cent. less than year ago, in some
directions signs of improvement APP
pear even now, and the sublime faith
OF the people in their future is shown
in the general belief that strikes end
disorders will quickly disappear.
Favoring weather has brought q
distinct change in reports as to condi-
ton OF winter wheat, and as to acreage
in corn and cotton. 1t is also impor-
tant that prices Of iron and steel prod
ucts promptly advance, in answer to
the stoppage of some works through
strikes, since it indicates that the re-
cent improvement in the apparent de-
mand was OF substantial character.
At Pittsburg and Chicago, Philadel-
phia and New York, prices have gen
orally advanced, though irregularly,
and in bar iron quotations appear a
shade weaker. Bessemer pig has ad.
yanced rs cts. to 81, steel billets 81 to
$3.50, and plates and structural iron
and steel wire rods are stronger
Many reason that the advance may
be maintained, at least for time, be-
cause cost will rise il strikes succeed,
and If they fail, because Of the demon
strated existence OF demand subltan-
TALLY equal to the full product of
works thus far started.
The shoe industry which has fallen
behind the shipments OF last year only
10 per cent. in April, is somewhat less
active than of late, but a fair business
is reported in heavy shoes, and some
improvement in the demand for WON
ems wear. Another point of encour-
agement is the heavy buying Of wool,
amounting to G, 400, 600 lbs. for week at
three chief markets, against 1861 900
last year, and in April sales were q,
1873, 958 lbs. against 16, 99S $50 last year.
As these sales have for years been in
steady relation to the entire consump-
ton OF wool, it is fair to infer that, in
spite OF the stoppage OF some import
ant works, and it spite OF uncertainties
as to labor and as to legislation, con-
sumption will continue large for some
weeks at least. Wool averages for 104
grades only 1853 cts, and figures given
elsewhere indicate that more than
100, 900, 900 lbs. old wool still remains
in the country, manly in the hands
Of farmers. Producers OF cotton goods
also find weak markets. but nearly all
continue in operation.
The enormous unsold stock OF wheat,
which he's made lower average Of
prices in February, March and April
than was ever known In any previous
month, has depressed May wheat TO
the lowest point on record, although
Western receipts were only, 1850, T36
bushels against 2,4sS,050 last year,