The Portland daily press., 1894-03-31
FRosTs KILLING TRADE.
Their Effects Felt in the West-The Fail
ures of the Quarter.

New York, March 0.-Bradstreet's to-
morrow will say: The features of the
business week include evidences of in
creasing volume of trade at eastern cities
but which are offset by checks to the
movement of staple merchandise at other
centr es. owing to the storms and cold
weather, and by damage to crops, caused
by the unusually low temperature in the
West, Northwest and South. While
eastern manufacturers of woolens are
buying raw material only as orders are
received, dress goods manufacturers are
fairly active. The more important dis
tributors of staples at eastern cities have
practically agreed that little Will De &C
complished until the tariff question is
settled. as the prevalent uncertainty
causes retail dealers to continue to buy
in small quantities only to replace the
stocks consumed.
All western cities note the unfayorable
influence of the recent cold weather.
There is a smaller volume of trade in
most lines at Chicago, the exception be-
ing among dealers in pig iron, where the
demand exceeds the expectations. A
similar report is made by st. Louis deas-
ers in crude iron and by jobbers in dry
goods, millinery, hats, hardware and
shoes. Kansas City fruit and produce
men are said to be discouraged at the re-
ports of killing frosts. At Omaha, bust
ness is less active than week ago, and
buyers in many instances are disposed to
make larger purchases. At Milwaukee,
ST. Paul, Minneapolis and Duluth, the
feature in trade circles has been the
temporary check to business due to un-
seasonable, cold weather. Portland, Or
egon, reports business improving very
slowly. At San Francisco the move
ment of staples is sluggish. Wheat
there is less active for export, the feature
being the speculative deal in the May
option. Low prices for oranges and few
Ell tourists this season are said to have
had an unfavorable effect on general
trade at Jacksonville.
The industrial situation is MINI
proved. More operatives are employed
at leading centres East and South. The
strikes OF silk workers at Paterson and
New York continue and nine other
strikes are reported with four important
manufacturing establishments on re-
duced wages and two others shut down,
against which are announcements that
wages have been advanced in three con-
Germs and work resumed by SO others.
The general tendency of prices is mp
ward. and quotations for wheat corn and
oats, have all advanced, largely on ac-
count of the presumed damage by frost.
Exports of wheat, both coasts of the
United States and Canada, flour inelud-
ed, aggregate 100000 bushels this
week, against 2,343, 900 last week, and
2, S75, 900 for the week year ago.
Bank clearings this week, one day.
short, aggregate SAL, 100000 at cities
throughout the United States, II per
per cent less than the week before and
80 per cent less than the corresponding
week last year.
There were 8, 800 actual failures in the
United States, Gailures from which the
creditors suffered financially reported
to Bradstreet's for the first quarter of the
current year, 900 more than the quarter
last year, an increase of 30 per cent. The
liabilities amount to 49,0S5, 900, an in
crease of 26 per cent. The assets
amount to 500, 749,770, against
500, 100, IA. The failures in New
York and Pennsylvania account
for a third of the totalincrease this year
over last, and for two-thirds of the in
crease in liabilities. The failures were
about IS per cent more numerous than
the average from 1889 to 1892, and 81
fewer than the first quarter in 1885. The
failures in New England during the first
quarter of 1894 numbered 678, with liza
bilities of 81, 113,S0S and assets of ~, 931,-
233, againt 4a3 failures with liabilities of
81, SSS, 1866, and assets Of So, 223, sos in the
first quarter of 1898.