The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1894-05-19
FINANCE AND TRADE.
The Effect of Legislative Q Inaotion
on the Industries.
GREAT REoUPERATIVE POWERS.

Notwithstanding the Influences which
in Amy Other Land Would Cause Dire
Disaster the General Boundness of tho
Comme rciaI World Is Evidenced.
NEW YORK. May 10.-R. G. Dun & Co. g
weekly review of trade says The obsta-
cles to improvement do not lessen. The
strikes of coal miners and coke workers
have not ceased, but have caused the stop
page of numerous works this week, and
embarrassment to some railroads The
conference at Cleveland exhibited much
angry feeling and wider differences than
had been expected, and seems to render
agreement more distant. Proceedings in
the senate do not indicate that the latest
form OF tariff revision has made speedy
final action more probable. Yet the recu-
perative force of the country is so great
that observers are constantly amazed at
the volume of business being transacted,
the tonnage being transported, the num-
Der of works resuming operation, and the
general soundness of trade, ndtwithstand-
ing influences which in any other land
would produce dire disaster.
Wheat has sold at 81 cents for May, and
5I11 cents for July, though western re-
ccipts have been only 1,2l5,54 bushels for
the week, against 1913, 046 last year. Fx-
ports were but I9l ,721, against 5000, 16i
bushels last year, and the fact that gold
goes instead of wheat at 81 cents or cot
ton at I.l9 cents has more weigh than the
rapidly Frightening prospects of the yield
next fall.
The soundness of the commercial world
is shown in the diminishing importance
of failures, the liabilities reported for the
second week of May amount Ing to only
81, 937 ,53s of which 81 s1490,9$2 were Of
trading and si32, ,G06 of manufacturing
concerns. The failures this week have
been 220 in the United States, against 247
last year. and "a in Canada, against 40
last year.
Brndstreet's financial review says: IN
vestme and speculation are still ct.
tended by uncertainty and hesitation.
The market is consequently very restricted
aud displays no little irregularity in its
movements. The past week, however,
has developed increased activity and in
terest in the railroad share lint, although
this consisted almost entirelyof renewed
aud to certain extent successful profess
sional assaults upon values. The weak
element in the m arket continues to be the
securities of the bankrupt companies, and
the shares which are liable to assessment.
In view of the heavy contributions,
winch 1t seems necessary to require in
many instances, there has been considera-
BILE liquidation of this class df holdings.
The declines thus produced seem to be in
dependent of the pressure which bear ope-
rhCors nave exercised on some pf the Gran
ger stocks. In the later instance the move
mcnt was instituted in view OF the severe
cutting of rates throughout the west, and
has been continued in the face of a settle
ment of the trouble on the theory that the
decline of wheat makes it impossible for
the roads to levy in the future as high
charges as in the past.
This week is the third in succession in
which there has been no material gain in
the volume of business and practically no
improvement in prospects for trade in the
near future. Although pleasant weather
has favored retail lines in many directions,
jobbers in staple goods have rot found a
corresponding increase in demand Com
tinued uncertainty regarding tariff legis-
lntion restricts trading in futures in all
staple lines. This is largely responsible
for the reduction in the volume Of bank
cleariugs.