Southwest-sentinel. [volume] (Silver City, N.M.) 1883-189?, 1894-02-13


has continued to present indica-
tions of steady though gradual inn
provemeht. The distribution of
manufactured goods has been lar
ger; and the assumptions of work
in mills and factories, in response
to improved demand, have greatly
overbalanced the stoppages which
have been occasionally reported in
various industries. The process
of recuperation has been slow,
however, and reviving business
has not yet been accompanied by
recovery in prices. In many
lines of trade competition has
continued to depress values,
so that enlargement of sales or the
unemployment of productive ca
pacity has resulted in no corre-
spending increase in profits or bus
mess investments. Merchandise
stocks in many departments are at
the point of exhaustion; but the
capacity to supply the replenish-
ing demand at short tfotice is so
large that prices have not improv-
ed. Many manufacturers COM
plain that new business is unprof-
table; yet economies of various
sorts and lower prices for raw ma
terials and labor would seem, IN
most cases, to have fully Offset the
reductions in the market prices of
their products. There has been
no increase in speculative activity,
although the enormous accumula-
ton Of idle capital, now by far the
largest on record, is an invitation
to this kind of business expansion,
which is not likely to be much
longer ignored. Merchandise ex-
ports continue large, and for Jan
uary thus far the value of such
shipments from New York alone
has been $2,949,635 larger than
that of the corresponding period
last year. The shrinkage in i'm
ports, however, has continued
heavy and SO far during this month
has amounted to $12,656, ,116,
There have been no very import
ant business failures during the
last week, although the aggregate
number in the United States and
Canada has been about 4S5, as
against 295 during the correspond.
ing period last year.
After further decline Of three
sixteenths of a cent per pound il
cotton prices, spectators founc
sufficient encouragement in tile
reports from the south to put the
market up again to about where i
stood a week ago. 1t seems clear
however, that a more importan
reduction in the crop movement
will be necessary to give stability
and force to the speculation fol
higher prices, for the receipts ar,
still running largely ahead of las
seasons record; and if they shal
not fall much below the leve
hereafter the recent minimum
crop estimates will be exceeded by
FIVE or six hundred thousand bales
Domestic spinners have continued
to buy sparingly, and the seasons
takings by northern mills have
already fallen 10000 bales beloy
the total for the correspondin.
period in 1923. Exports. how
ever, have kept up well, and sine,
Sept. 1 the shipments have beef
about 100000 bales larger thar
they were in the corresponding
period of the previous crop year
But values of cotton are II cent
lower than a year ago, and tn
large outgo counts for proportion
ally less in the money value Of Tia
country's exports.
Demand for wool has not ex
,, ceeded the moderate requirement
! Of the mills, except when seller
have been willing to shade price
to l cent per pound; and th
desire to close out stocks and real
} ize on advances TO growers has in
duced the acceptance of some OF
fers on the lower basis in all th
, eastern markets. There has beel
a moderate increase in the demani
for spring wollens and for dres
, goods; but buyers have been re
, luctant to place orders for fal
, weights, in view Of ihe continue,
uncertainty about the date on th
enforcement Of the woelen good
, schedule of the proposed tarii
law All accounts agree tba
there has been ain improvement ii