The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1894-01-20
THE TIDE is RISING.
But the Revival Of Business Is Yet
a Slow Process.
MERCANTILE AGENCIES APPROVE
THE BOND ISSUE.

Exceptions to the Upward Movement Noted
at Eastern Manufacturing Centers-
Travellers in Dixie Expect SUMMER
South soon-Boston Reports Increased
Sales in Several Lines-Bank Clearings
Third Smaller Than Year Ago.
| New York, January 9.-Bradstreets
VIII say tomorrow: Special telegrams
from many of the more important cities
based on interviews in leading lines of
trade, make it plain that the improve
ment reported a week ago and then
characterized as turn in the tide, has
been retained and added to, but excep-
tlons are noted at some of the larger
| eastern manufacturing centres. Pitts
burg is more hopeful. While the re-
tailers have increased purchases, there
is little gain in iron and Steel Philadel-
pahia emphasizes further concessions in
prices for wool. There are contradictory
reports as to manufactured products and
attention is directed to the taking of
iron and steel contracts by competing
western concerns at 'ruinous prices,
although it is admitted that trade in
| drugs, paints and glass is much i'm
proved. Manufacturers of cheap iewelry.
novelties and cardboard at Providence
report increasing orders. Jobbers in
shoes at Baltimore say that trade is fair
ly satisfactory. Travellers from that
section say that the condition of busi-
ness throughout the South is such that
a there St in, eLo
time. General business continues slow
IN portions of South Carolina and ia
affected by cyclones. In Georgia it is
improved, while in North Carolina the
spring demand has not fully started.
Boston reports increased sales in several
lines, due to buyers who had held off so
long chat they were obliged to replenish
their stocks. There are slight increases
In the eastern shoe trade and the exports
of leather are fair. Common goods have
letter tone and prints and wash fabrics
are IN fair sale, as are shirtings, which
are reduced to 3-4 cents A better
feeling at Buffalo is based merely on tine
approach to better trade althD ugh orders
for dry goods and groceries are more
liberal. Receipts of cotton have continued
sufficiently free to render it improbable
that the lowest crop estimates will prove
correct and prices have weakened accord
ingly. General trade at Charleston is
expected to become more active as soon
as planters and merchants have perfected
arrangements for the new year. Not
wlthstanding that cotton is lower, gem
eral trade at Savannah is more active.
Al Augusta several lines report
an advance over last week.
druggists being behind orders
| and dealers in groceries and dry goods
much encouraged. Spring trade at At
lanta opens with some activity, and the
manufacturing output has increased.
Chattanooga jobbers say that collections
are improved and hardware is more
active. Trade conditions at Cincinnati
are improved with manufacturers and
Jobbers in merchandise. There are gains
in iron and other manufacturing lines at
Detroitsand a Chicago sales of dry goods,
clothing and shoes have increased.
Travellers are receiving fair volumes of
orders for spring goods. A better feeling
is reported at Louisville and at st. Louis
the demand for groceries, dry goods,
shoes and hats has increased, as have or
ders for finished irou and steel, the latter
being equal to those in any preceding
January. Spring trade has opened fairly
well at Kansas City, though smaller in
volume than year ago. AT Minneapolis,
while industrial lines show no improve
ment, the betterment in jobbing circles
is emphasized and commercial travellers
have been sent out by iobbing houses.
At almost all the larger distribution
ular, showing relatively the greatest i'm
provement in the southern, central,
western and northwestern portions of the
country.
The total volumes of bank clearings
this week are 1924, 000, 1000, 36 per cent
smaller than the third week in January,
1893
Unexpectedly free receipts of wheat
In the United States and an unusally
heavy increase in Australia surprised the
trade with larger gain of available
stocks than was anticipated. Prices here
reacted. Exports of wheat from the
United States and Canada, both coasts,
-four included, amount to 8,382, 900
bushels this week, about tenth smaller
than in the week year ago."
R.G. Dun & Co.'S weekly review of
trade Will say: 1.-The event of the week
is the offer of $50. 600, 600 United States
5 per cent ten year bonds. The decision
of the Secretary gives much satisfaction
to all who care for a sound currency be-
cause the necessities of the treasury were
dangerously strengthening those who are
urging the issue of $50, 600, 600 more of sill
yer certificates against the silver seignior-
age. Action in Congress on the various
financia! measures is liable at any time
to excite doubts whether gold payments
can be maintained. hence the replenish-
ment of the gold reserve is necessary to
the restoration of confidence and revival
of business. The immediate effects are
not great, though London, after selling
American securities largely for several
days bought to some extent. If sub
scriptions for the loan should be free and
large, it is hoped Improvement in trade
and industry may be hastened.n
Four hundred and four failures in
business are reported this week against
$50 for the same week year ago.