The herald., 1894-04-23
THE WEEK IN BUSINESS CIRCLES
Dun's Review of the Situation
Commercially.
Though Progress Is Obstructed Ii
Has Not Been Arrested.
Iron Output shows Gais-Ncw wool
Coming Forward - a Dull
Market In Stocks Ho-
ported.

Dun AsoFto" iu ltS summary up to
April 14th says:
Business improvement meots many
obstacles, aud Is Hcarcely as Distinct ns
Ii has been In recent weeka. Strikes
have checked tho improvement In build
ing aud some other tradse, and scare
ity OF coke has caused closing of soma
iron works, while strike OF all nitu.ntn.
ous iron workers 10 ordered and NAV
prove serious. More favorable crop rc.
ports than were expected, which iustiIv
larger hope for next fall, have errested
the upward tendency In prioes Of
products. The renewal OF gold exports
occasions aome diequIetude. But tho
gradual exhaustion OF goods in tho
hands OF dealers makes the consum ption
OF the people more distinctly felt and
apparently larger, and this demand in
creaaes with the gain in number OF
hands ut work. 1T cannot be said that
uncertainty as to the future has mRteri.
ally diminished, bnt there 10 an evil
IDENTIFY growing impression that thsre
will be no important legislat' IN on the
currency or the tsriif, This i'm precision.
whether erroneous or not, influences
the action OF many. The proposal 10
remove the tax on Issues of state banks
Is not by many thought likely to prevail.
On the whole. though progress 10 still OBJ
strucsed ty uncertainties, it has not
been arrested.
Tho output of pig iron April lst was
l26,732 tons weekly. against ITO, 1855
March 1st, a gain which is tho more en-
couraging because unsold stocks de-
creaoed lo,SG5 toms The actual con-
sumption thus indicated, about 120, 400
tons, is only third smaller than year
ago. but some furnaces and works have
been stopped since April lat on account
OF the strike of Oonnsllsville coke work.
era, which again bears fruit in blood
shed and destruction OF property. Sew.
eraI large sales OF Bassemer iron are 70.
ported at $l0.35 at Pittsburg, and con-
siderable sales OF No foundry at Sill
thsre. while much Improvement is seen
in the business at the east. At Chicago
the trade has fallen off on account OF
the strike in building trades. Tin has
been active In speculation without much
change. and copper remaine in email
demand for consumption. but the de-
struction OF works said to produce 600
tons Of load weekly has raised the price
to 3.5 cents.
New wool has begun to come forward,
and ss the yield is expected to be
greatly reduced, prices are slightly
flrmer, with large purchases for specula-
tion. At three chief markets snles were
4.65S 800 lbs. against $3.50. $50 the same
week lgst year, and stocks available are
comparatively scanty, but quotations
nre no higher. A striking increase Ia
noted in the demand for fall dress goods,
but in mems woolens there is no inn
provement of demand for heavy weights.
and orders for spring goods have been
rodn nif
The tone OF the dry goods market on the
whole is less assuring, buyers are few.
and mail ordera are falling off, and there
is shade Of weakness in some cottons,
with lesa SUCCESS ia stimulating truir by
low prices. The boot and shoe trade
continues TO improve, larger proper.
tion OF the factories having orders for
some time to come, though producers
OF ths better grades of goods ind com
parntively little to do. Shipments from
Boston, according to tho Sooe and
Leather Reporter. were ga, 459 cases for
the week against II, 700 last year, de-
crease OF 10.1 per cent.
The government report for April Let
indicated much less damage to wheat
than speculators had expected, go that
prices declined rapidly, for the week l1a
cents. 1t is officially suggested that the
yet known, but Atlantic exporte have
been only $50, TAO bushels against !, 1885,
6S1 for the week last year, while west
ern receipts have been 2.02S, ,757 bushels
against 1856, AIS last year. Corn has
declined half o cent, western receipts
being still far in excess of last years.
Pork and lard are still u shade higher,
and oil has been hoieted by manipula-
ton. Cotton has declined again to
Z 81 cents, European spinner5 having
grown tired of the usual stories about
exhaustion OF supplies and reduction OF
acreage. Receipts from plantations are
about az large as last year for the week.
and 100000 bales larger for the year,
while exports for the week have been
very small.
Intonse dullness ia the stock market
disgusta brokers, though individual
stocks have been marked up easily 30
cents per share. Railway stocks aver
age 18 cents lower, and railroad earn
ings do not yet reflect the heavy gain in
tonnage, falling behind laat years about
as much es in March. Neither do clear
ing house payments indicate much bot
terment, but for the second week of
April are 25 8 per cent smaller than last
year, against 1876 per cent the fist
week, The fact that prices still average
liza psr cent lower than q year ago,
while explaining part of the decrease
in the volume of business, also suggests
the narrowness OF ita profits.
The money market has changed very
little, but 1000, 900 gold goes to Paris
today to purchase Spanish coin to be
paid for Cuban sugar. end exports OF
merchandise have fallen below last
year'a. Treasury receipts for customs
in April are 43 per cent less than isss
year, with internal receipta somewhat
smaller. The treasury deficit hos been
80, ,000, 900 for the month thus far, be-
aides interest paymente, indicating
deficit OF slO,000,000 for the month.
Bankers deny reports that further bond
ipsues are under discussion, but gold
exports with deficient receipts may
quickly change the situation. No i'm
provement 10 ecen in commercial loans,
and the large increase reported by
blnks is mainly due to aiock transac-
tiona. The most cheering sign is the
decrease in Importance OF commercial
failures, for though one mortgage loan
concern has failed with liabilities OF
s5 800 900, the liabilities in all CONNER
cial failures for the irst week of April
wore only 50. 100. 806. OF which $500 567
were Of manufacturing and 81 .228. 240 of
trading concerns. The failures this
week have been 2lS In the United States
against 1877 last year, and "a in Canada
.-.;m.k laaf waaW