The Portland daily press., 1894-01-13
THE TIDE TURNS.
Bradstreets Reports the Beginning of an
Increase in Business.

New York, January 12.-Bradstreet's
tomorrow will say: Special kilograms
from leading trade centres bring evil
dence that the tide has turned. 1t ap-
pears beyond question that movement
in the direction of expansion of the vol
ume Of business has begun. Bradstreet's
points as evidence of that fact to the in
crease of "a per cent in the production
of pig iron within three months, to the
excess of deposits over payments at
some of the largest savings banks in the
United States, and to the assumptions of
work at industrial establishments in all
directions, even though with lower wages
and on shorter time, as contrasted with
the epidemic of shut downs prevalent
month and more ago. The volume of
business in iron and steel at Pittsburg,
within the week was larger than in any
week in December The general feeling
there is that the improvement will be
more pronounced soon. Liberal exports
of leather from Boston during the past
few months have relieved the market
there and steadied prices. Increased
movement of farm stock at Atlanta and
heavier demand there for farm ma
reported. The cotton trade is also i'm
proving. At Louisville there is more in
quiry for whiskey and tobacco, the crop
of the latter being short, and the price
advancing. There are signs of activity
in dry goods and other jobbing lines at
Minneapolis. At ST. Paul jobbers of
shoes report marked gains. At San
Francisco there is improvement in gen.
eral business. At Kansas City, jobbers
report that spring trade is opening up
well. with more active demand for dry
goods and groceries. At Chicago the
sales of shoes, clothing and dry goods
have increased. At ST. Louis, the best
trade is among the jobbers of shoes and
hardware, unfavorable weather having
checked sales of clothing and rubber
goods. AT Boston, general trade remains
quiet. In Rhode Island some of the
wooden manufacturing mills which re-
opened have shut down again. While
wool prices have shaded one cent on some
grades, this week manufacturers bought
more freely in some instances. Eastern
jobbers OF dry goods report fair move
ment of sateens, and prints and ging-
hams open two cents lower than a year
ago. Wooden goods remain very quiet.
Complaint is made by Philadelphia iron
manufacturers that they cannot compete
with mills further west
An analysis of the official reports OF
forgein trade for eleven months in 1858,
shows a net decrease of fraction less
than eight per cent, compared with 1892,
smaller reduction than indicated as to
domestic trade by the decrease in bank
clearings the last year. The heavier de-
creases in value of importations are those
on coffee, raw silk, hides, wool and
woolens, and Jewelry, and in values of
domestic exports are on wheat, cotton,
corn, cattle and meats.
Bank clearings this week jump above
the billion dollar mark, for the third
time since early during the late panic,
the total being $1,000, 600, 900 or 26 per
cent less than the like week last year.
Reports of ninety-seven railroads show
loss of 1874 per cent in gross earnings
for Decem Der last compared with Deem
Der, 1882. For the calendar year just
ended, ninety-three roads report 1926, S34, :
600 of gross earnings, decrease of two
per cent from 1858, although the mileage
Increased three per cent last year. Elk
ports of wheat, -four being regarded as
wheat, from all ports aggregate 2,409. 600
bushels this week against 3,3oS, 900
bushels for the week year ago Busi-
ness failures this week number 4e4 COM
pared with 301 a year ago.