Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1894-12-08
GUMS COMMERCIAL REVIEW

n. rorniete success OF the Government
Rond sale IIAs bnt Little Enect on dust
Dex.-The Purchasing Power OF the 'oeh-
try On the Whole Not Increased Hnd '"e
Prtce Of Farm Products Ne Better-A
Further Fall in stocks
NEW YORK. Dec. r. Il. Dun ~
CO.. weekly review Of trade issued 0
day says;
The complete success Of the govern.
ment loan and the replenishment OF
the gold reserve have not pereeptloly
affected business nor prevented an a
vance of foreign exchange near TO the
exporting point. A. January interest
has o O 10 be met, and the operations
OF the syndicate are thought likely TO
prevent much selling Of bonds to for
eigners, some exports OF gold are not
improbable.
Meanwhile domestic trade and in
dustry have not been much influenced
by the heavy defalcation in 4 bank
and minor disorders in two others n
by the failure of the Erie railway to
NEE, interest on It's bonds. The clos
inp of q rehneries will diminish
.he industrial force more than 1t Is IN
| creased by the resumption Of the Beth
| lehem steel works and a few other
concerns. The controlling fact Is that,
although in two instances wages have
been increased, the earnings OF
the working force and lis pnr-
chasing power are not, on the whole
charging II present, and prices OF the
chief farm products DO not improve,
Wheat is II cents higher than a week
ago. and western receipts still exceed
last years, amounting since July 10
| tO3. 500. 900 bushels, against 100, soe,p50
last year, while exports from all ports
have been about 100000 bushels
smaller. Corn has advanced a trae-
ton, receipts being larger than a year
ago. and on the whole the outcome for
farmers has not so improved as 10
promise larger buying By the west and
south.
The stock market disappoints those
who reckoned on improvement after
the sale of bonds. The average for
railroad stocks has declined 81 cents
Der share. and for trust stocks Sl.93 per
share, in part because the Shoe and
Leather robbery and other bank irreg-
ularities caused some unreasoning in
f~uences. but more because the earn
ings continue uninspiring. Those re-
ported for November thus far are IL
per cent. less than last year, and lo5
per cent. less than in ls92.
The tumble in sugar stock may be
aimed at congressional action, but the
enormous importatiOns last summer,
in anticipation Of duties, have not
been sustained BY the expected con-
sumption. The curtailment OF coal
production also lessons working force
or hours and many of the -four mills at
the west have stopped on account Of
the condition Of the market.
The great industries fairly maintain
the production previously reported, but
cannot be expected to increase at thi'
season. A few more iron works have
gone into operation, and the demand i
reported larger, but there is distinc'
weakness in prices, especially at Pitts
burgh, and Bessemer iron, billets, nail
and some structural forms arc quoted
lower. The rail combination ha
agreed to a reduction of s? per ton 70
the next year. Coke contracts are be
ing made for the first quarter Of ls9
at current rates.
The shoe industry continues to d
remarkably well for the season, ant
the prospect for the spring business il
fairly good, although trouble abou
prices occasions some friction.
In textile manufactures there j
more strength in print cloths, bu
other cottons are somewhat i~rregula
and weaker. The wooden manufac
ture still receives some orders for win
ter goods, but the demand for sprin,
is much retarded by unavoidable della
in filling orders.
Money commands better rates sine
the sale of bonds, but there is ~scarcel
any improvement in commercial or il
dustrial demands, and the flow Of cul
rency hitherward is as large as it ha
been at any time since September
Importers make moderate demand,
and the call from merchants is onl
for immediate needs. November pay
ments through clearinghouse are bu
SO per cent. larger than last year an
23.9 per cent. less than in 1892. Urea.
ury receipts are small, customs 20 pc
cent. and internal revenu nearly 4
per cent. less than last year, and tn
deficit for the month appears to /
about $4,000, 900.
: The liabilities in failures for tn
third week in November were s., 1883
931, against 50. 49, $40 for the sam
week last year. The decrease was a
in manufacturing, of which the lii
bilities were 1913, 326, against 81, $500
last year, while in trading concern
the liabilities were 81, 395, $40. again.
81, 3sl,G49 last year. For three weel
of November the liabilities have bee
$685. 29, against Sl7,937, 145 last yea
The failures this week have been q
in the United States, against 271 la
year, and &c in Canada, against IS la
year.
: To Recount the Kansas City Returns.