Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1894-01-20
ouN,s WEEKLY REVIEW.


Noticeable Since tho Opening Of the New
Year-Exhausted Stocks Being Repien-
ished by tho Resumption Of Producing
Industries Speculative Markets lrregu-
lar and Railroad Stocks Still Deciining-
The Condition Of the National Treasury
-Business Failures Etc.
New YORK, Jan. 13.-R. G. Dun q
Co. Is weekly review Of trade, issued to-
day says:
Business has distinctly improved since tho
new year came. and the gain Is no longer visi'
BILE only In speculative markets 1t ~ the only
kind Of improvement that has In II possipih-
ties OF lasting. because 1t is based upon IN &C.
tual increase in the production OF industries
As all rejoice to see it, there is perhaps little
disposition to reckon the gain greater than "
is as yet, but several large establishments
have started part force hoping to increase,
and more smaller works have started than
have stopped. Orders from dealers whose
stocks approach exhaustion form prominens
cause; another Is the widely prevalent impress
sion that action at Washington Will be more
satisfactory than many have expected, ana
belief that In any case the situation Will not %
changed until goods now in the works can be
marketed has weight In some trades. Whs's
ever the causes, even moderate gain Is most
| cheering.
The output OF pig iron January is reckoned
| by the Iron Age at 9a07 tons weekly, which Is
slightly less than December l. though the Pitts
burgh authority makes it little larger In
either case It is from Al to 43 per cent. less
| than year ago, and stocks Of unsold pig In
| creased 10, l57 tons in December, though they
decreased US much in November. Several
more furnaces begin production this month,
| and prices show no recovery. Indeed, the
| LOwmoor works OF Virginia have reduced the
| price OF No. 1 foundry TO sI3 per ton, and fin
| ished products are weaker, steel billets and
bars again making the lowest price on record
though the tone is more hopeful both here and
at the West. with little more business. Cop
per, tin and lead are weak.
Sales of wool for the week are 27s8, ZOO
pounds at the three chief markets, against
s. f85, 500 last year, but there Is more inquiry
from worsted and carpet Manufacturers some
having started machinery.
Overcoatings are 10 to Is per cent lower thar
; year ago, but the deliveries OF dress goods
are larger than OF late, and the demand 1:
more urgent In cotton goods there is nc
definite change.
Shipments OF boots and shoes for the weel,
were nearly a quarter smaller than yeal
ago, but there is growing confidence that the
business must soon increase
Speculative markets are irregular, railroad
stocks having declined every day little
though but 70 cents per share In oil, the chic
cause being reduced earnings, the passing
the Louisville & Nashville dividend and fol
eign selling of that and the granger stocks
Trust stocks averaged higher every day unit
Wednesday,, and are still so cents higher 70
the week. Earnings reported for Januar
thus far show q decline Of al.i per cent, and Q
, the last week OF December i5,5 per cent, ives
ern lines averaging more and southern less d.
crease The heaviest tonnage ever rccorde
I from Chicago is at rates which result In no II
: | crease in earnings
The Reading statement, showing large los
in speculation, the moyem ent OF bondholdeI
=, | in Atchison and the strife over New Englan
AFFECT some home as we'll as some foreign holt
c ers. An analysis Of railroad earnings last yes
shows that OF oil classes Of all.roads the COZ
n roads only lost in the first half Of the yea
:. while this was the only class which gained
" the second half
Wheat is a shade weaker though western r
s ceipts. are i.75000) bushels for the weel
against $685. .OoJ a year ago. Atlantic export
are only s7O,O0) against 1,4ss,00o last yea
=, Stocks in sight decrease but little, and COVER
II ment estimates get little attention.
s. Corn is naturally weaker at very large r
ceipts, though exports are 50 per cent. larg
a than year ago.
Cotton has been lifted by speculation hire
u sixteenths, though the decrease In receipts
n no larger, and stocks In sight here and abro'
Y are big enough to meet nearly hall yeaI
70 consumption.
:; Bank clearings also indicate that no lar
gain has occurred as yet in the volume OF bu
ness, being 81 per cent smaller than year %
D, Money continues to pour into this city. as
ID would not II trade approached normal activi'
"a, and the demand Is so narrow that loans n
:! SiOOOOO,OOO below deposits. Foreign exchan
~ has risen cents In fortnight and some 10
for gold exports again. Sales of stocks tu
is the balance, though spreign houses are onerl
w loans here on long time.
!. The condition of the treasury causes mu
Ill remark, as the cash reserve is lower than ev
and New York banks have agreed to defer
ir definitely demanding from the treasury abe
n. 5000 900 due on mutilated currency. Thou
- the secretary earnestly urges provision for
~ future, congress has not yet touched the 81
ject, and with the great stock OF gold here,
ed situation is less serious than it would be oth'
ne wise.
Returns published last week attract great
=, terest, as more definite measure OF the cor
= t0n OF various branches OF business than
cz been obtained through other sources. Ad
"a tional returns, thirteen in number in nanuf
II. turing, twelve in cotton, three in wo0len q
&c four large grocery concerns which show an
~ crease, while other branches show decrea
90 make the aggregate OF sales by Las conce
IN folp, $50 $50 In the last half OF 1893 agai
,ir 1915 100 34o in the last half Of 1892: decrea
S0.3 per cent.