The Providence news. (Providence [R.I.]) 1891-1906, 1894-01-06
The Business World Waiting for Ac.
tion on the Tariff.
A HEAVY DECREASE IN TRADE
but Little Change I'm the Industrial
Situation-The Proposed Income Tax
Does Not Inspire Confidence I'm the
Business World.

Weekly Review of Trade says today:
The cloud of uncertainty does not lift
as yet Strong confidence Is expressed in
nearly all markets that trade must i'm
prove with the new year, but IL Is yet too
early to expect important change, IL 1t Is
really on the way. The proposal OF an
income tax Is not calculated to inspire
confidence, nor does it encourage hope
that uncertainty about revenue laws will
be speedily terminated.
The whole market Is "a of cent higher
because Of diminished western receipts,
and corn In unchanged. Western receipts
of wheat for the week have been 1854, 545
bushels, against 1850 ,450 last year. The
receipts of corn are extraordinary, 4,065,-
97s bushels for the week, against :, 3,277, ,17S
last year. Cotton receipts have lessened
a little, and the price has suddenly ad-
vanced IA, a movement probably on
par with others which have made this
season trying one to traders.
It il questionable whether the working
force in the great industries has increased
as yet, though about the first of the
year considerable increase Is expected.
The number of mills starting and stop
ping work is about the same.
Wool, Cotton, Shoes and Metals.
Sales of wool for the week amount to
only 2, ,494, 800 pounds, against 4, Ass, 200 for
the corresponding week last year, and
since May l the decrease has been 49.6
per cent. Prices are somewhat weaker,
and few works report satisfactory orders.
Prices of cotton goods are further re-
duced to encourage purchases. Most of
the shoeshops are moderately employed,
and the decrease In shipments for the
week,i~ 1. per cent against 20 per cent for
the last seven months of 1893. Still lower
prices are recorded in iron and steel,
both at Pittsburg and Philadelphia,
without increase in volume OF business.
1t is believed that the output of pig,
though 40 per cent less than a year ago,
exceeds the present consumption.
The volume of business represented by
exchanges outside New York is 1879 per
cent less than for the same week last
year.
In various branches of business during
the last half of 1893 actual sales have been
reported by 11l7 houses or companies ag
gregating S213 409, ,626 this year, against
&304, ,460, 103 in the same month last year,
decrease of 1917 per cent.
what Percentages Show.
In textile manufactures the decrease Is
81 per cent, over a per cent in all woolens,
g per cent in silk and 371 per cent in cot
ton manufactures, 29.2 per cent in hosiery
and 25.6 in mixed textiles. In dry goods
The sales decreased only 1872 per cent, stocks
previously held having been much re-
duced, and the reported decrease in sales
of clothing is only 1873 per cent. In iron
and steel manufactures the decrease is
S0.s per cent, but in hardware only 1875
per cent. In boot and shoe manufacture
the decrease is only 1915 per cent, but in
retail trade only ft8 per cent. The de-
crease in furniture is 81 per cent in jew
elry A.s per cent and in sales of hats only
1876 per cent.
1t is an interesting and encouraging
fact that sales of groceries are slightly
larger than last year, though little less
at the east and west, but greater at the
south
The final classified returns of failures
for 1898 are not yet complete, but the re-
ports received for the latter part of De-
cember have swelled the aggregate OF
commercial liabilities to 1885, ,493, ,461, of
which $167, ,545, 1855 are of manufacturing
failures, $123, ,716,96o of trading failures
and S7 2o0, 516 of other concerns.
For the past week the failures reported
have been 5ll in the United States, against
823 last year, and Al in Canada, against IL
last year.