The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1894-01-18
THE NEW YEARS BUSINESS.
DUN's AGENCY ANNOUNCES A DISTINCT
IMPROVEMENT.
There Is an Actual Increase in Production
by Industries, More Embellishments
Have Started Than Have Stopped.
Congress Must Act.

NEW YORK, Jan. 12.-R. G. Dun &
Co s Weekly Review of Trade says:
Business has distinctly improved
since the new year came, and the gain
is no longer visible one in the specu-
lative markets 1t is the Only kind Of
Improvement that has in it possiDili-
ties of lasting, because it is based upon
actual increase in production by indus
tries. As all rejoice to see it, there is
perhaps little disposition to reckon on
a gain greater than it is as yet, but
several large establishments have
stated with part force, hoping to in
crease, and more smaller works have
started than have stopped.
Orders from dealers whose stocks APP
proach exhaustion from a prominent
cause, another is the widely prevailing
impression that action at Washington
will be more satisfactory than many
have expected, and the belief that in
any case the situation will not oe
changed until goods now in the works
can be marketed has weight in some
| uIducSs w uduONeI Cd'lsGS 0NGA LllOutT.
ate gain is most cheering.
reckoned by The Iron Age at 99,0S7
Dec. l, though Pittsburg authority
make it little larger. In either case it
is from Al to 43 per cent less than last
year.
Several more furnaces will begin pro-
Ht1atinr fhic month on6 nrinne
no recovery. Indeed the Cow Moor
works of Virginia have reduced their
price of No. | foundry to $l3 per ton
and finished products are weaker.
Steel billetts and bars are again MAX
il G the lowest price on record, though
the tone is more hopeful both here and
at the West, with little more business,
Copper, tin and lead are weaker.
Sales of wool for the week are
2, 766, 900 pounds at the three chief
markets, as against 5,0S5, 500 last year,
but there is more inquiry from worsted
and carpet manufacturers, some hav-
ing started machinery. Overcoatings
are 10 to 10 per cent lower than year
ago but deliveries of dress goods are
larger than of late and the demand is
more urgent. In cotton goods there is
no definite change. Shipments OF
boots and shoes for the week were
nearly quarter smaller than a year
ago, but there is a growing confidence
that business must soon increase.
Wheat is shade weaker though
Western receipts are 1,750,0O0 bushels
for the week, against 3,938,00 a year
ago. Atlantic exports are only &c.
600 against !, 4S8,000 last year; stocks
in sight decreased but little
and government crop estimates
get little attention. Corn
is naturally weaker with very
large receipts, though exports are 60
per cent larger than a year ago. Cot
ton has lifted by speculation 3 1-6c,
though decrease in receipts is not
large and stocks in sight here and
abroad are big enough to meet nearly
half the years consumption. Bank
clearings also indicate that no large
gaines have occurred as yet In the vol
ume of business, being 81 per cent
smaller than year ago.
Failures for the week have been 474
in the United States, against 1876 last
year, and 81 in Canada against 20 last
year. Liabilities for all firms failing
for the week ending Jan. a. were So
| OI1,O IOUhl bdleb UclhN 1883
than transactions of single hour
on an ordinary active market.
The tone of speculation was, however
much heavier than on Yesterday, and
traders who sold Tor decliue then were
today anxious to cover. Perhaps the
most potential influence in the change
of a speculative mind was more favor
able prospect of the passage OF the
bill providing for coming OF seignor-
age now in the treasury, which traders
accepted as likely to increase the
volume of speculative investment.
Another factor in improved
conditions was the announce
ment in the Washington
reports that the secretary of the trea'--
ury had determined upon the issue OF
bonds under existing laws calling for
high rate of interest If congress did not
enact new law giving power to issue
low interest bonds.
Discussion of the gold export ques-
ton and reported understanding ar
rived at by banks not to furnish specie
for shipment abroad, thus compelling
drain on treasury reserve in case golc
is wanted for export to Europe, did not
seem to have any effect on todays
market, as it is not believed that gold
will be withdrawn for immediate ship
ments. London houses were without
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