Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1894-01-13
WEEKLY REVIEW

VI the CONDITION OF commercial ana fu'
dustriaI Interests Throughout the Coun.
try AS COliated from the Reports Re-
ceived by n. q. Dun g. Co.-Conditions
Practically Unaltered from Last Report
--isusiness Failures for the Week. Etc.
New YORK, Jan. 6.-R. G.. Dun g.
Co.'S weekly review Of trade, issued to-
day says:
The closeness OF business does not lift As
yet. Confidence - expressed that trade must
improve with the new year, but it is too early
as yet to predict important changes. In the
main the conditions continue unaltered. but
the proposal Of an income tax 10 not calculated
to inspire confidence, nor does IL encourage
hope that uncertainty about revenue laws will
be speedily terminated.
The condition OF the treasury excftes less
interest, with the gold reserve lower than ever
and the entire available reserve reduced to
about 800 000, 900, than smaller losses caused
when the free gold exceeded Sl00090.000 Yet
the deficit of 81 66l 800 in the first half Of the
current ils al year. the decrease OF f307t4,9iS
In customs receipts for six months 9nd si0854,-
l9l In the internal revenue, point 10 large de.
felt for the year. and q greater reduction Of
treasury balances than can be safely per-
mitted. AS the point OF danger Is the large
volume Of paper circulation, with narrow
| gold reserve, the proposal TO issue $4,000 O00
more paper by means OF coming silver bullion
held Is not reassurng and the chamber OF
commerce has earnestly urged an issue OF
short-time bonds, as recommended by the sec.
retary Of the treasury.
Money from the interior still floods this mar
ket Commercial inactivity still causes the
amount of idle funds TO swell beyond all prece-
| dent, and rates arc so low that speculation
might be dangerously stimulated II feeling oi
hopefulness prevailed Thus 1t may be fortun
ate that diminished earnings suppress ardor
in stock speculation, and heavy supplies in
| sight deter speculation in products. The dis
bursement OF sQ5, co., 900 here and s77,0OOOOO In
Boston and Pittsburgh for January interest
and dividends, has produced nothing like the
usual demand for securities, though after sew.
eral days of excessive selling the stock mar
ket rose an average OF a dollar a share. Gu,
rates increase railway tonnage without yield
| ing better terms In money and the dividends
| paid reflect past rather than present condi
tions.
| The wheat market Is threefourths OF q cent
| higher, because Of diminished western re
cepts, and corn is unchanged Western sales
Of wheat for the week have been l,954,5ij
| bushels. against 4,6s6 40 last year. The re
ccpts OF corn are extraordinary-4.0 .065, Oh
| bushels for the week, against 3,aT,l1S las
| year. Cotton receipts have lessened little
and the price has suddenly advanced a quar-
ter, with movement probably on a par with
others which have made this season a trying
| one to traders,
1t Is questionable whether the working force
In the great industries has increased as yet
though about the first Of the year considerable
| increase is expected. The number OF mills
starting and stopping work is about the same
| Sales OF wool for the week amount to 2. .494 so
pounds, against 4, 453 200 for the corresponding
| week last year, and since May the decrease
has been 49.6 per cent. Prices are somewha
weaker. and few works report satisfactor,
orders. Prices Of cotton goods are further re
duced to encourage purchases. Most Of thu
shoe shops are moderately employed, and tn
decrease in the shipments for the week is l
per cent. against 20 per cent for the last seven
months of 1893 Stll lower prices are re
corded in iron and steel both at Philadelphi;
and Pittsburgh, without increase in the volume
OF business. 1t is believed that the output o
| pig though % per cent. less than year age
exceeds the consumption
In textile manufactures the decrease Is 4
per cent, over 81 in wools, 43 per cent in silks
and 31 per cent. In cotton manufactures 20.
per cent in hosiery, and $50 in mixed textiles
| In dry goods the sales decreased only l92 pc
cent, stocks previously held having been muc
| reduced, and the reported decrease In sales O
clothing is only ia per cent, In hardware onl
1875 per cent, Iu boot and shoe manufacture
the decrease is 1874 perucent.. but in the retail
trade only ll.6 per cent. The decrease in fur
niture is 272 Ger cent, in iewclry 24s per cent
and in sales Of seal hats only 1876 per cent.
II is an interesting and encouraging fact tina
sales Of groceries are slightly larger than las
year, though little less at the east and ives,
but greater at the south. The fact that i
most branches the decrease appears smalle
at the west than at the cast, and smaller at tn
south than at the west is one OF the curiou
results OF this novel investigation.
The final classified returns of failures 10
1893 are not yet complete, but the reports re
ceived for the latter part OF December hav
swelled the aggregate Of commercial iabili
ties to 1898, 4aSi6l of which si61 5i5. .9s5 are
manufacturing failures. al"3, ZIG. 900 of tradin
failures, and si;,.3)5l6 Of other concerns
Complete returns will be given, it Is hoped
next week.
For the past week the failures reported hav
been 5ll in the United States, against 23i las
year. and Al in Canada. against IL last year.