The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1894-07-07
FINANCE AND TRADE.
Disastrous Effect of the Strike on
Business Interests.
IN PRICE OF CEREALS.

ADVANCE IN PRICE OF CEREALS.
wheat, with Inc, ased Crop Prospects, IL
the Only Exception in the General Ad-
vnnoe-Nsw York City Threatened with
Famine.
NEW YORK, July 7.-Bradstreets weekly
review of trade says Aside from the in
tervention Of a holiday there is sharp
restriction of general trade and industrial
production, due to railway troubles west
of the Alleghenies and north Of the Ohio
river, which extend west and southwest
to the Pacific coast, and make their influ-
ence felt in all other directions. The com
bined railroad strike and boycott has had
a steadily increasing damaging influence
upon the general industrial situation.
Calculations as to the number of men out
are necessarily not complete, but there is
little doubt that the total number idle as
a result Of this railway tie mp far exceeds
the outcome Of any previous labor trouble
in this country.
All cereals except wheat have shown a
decided advance in prices. Pork and lard
are up sharply, as are fruits, vegetables,
meats and other perishable produce. Pig
iron west is commanding twenty-five cents
more per ton, and cattle, hogs and sheep
are noticeably higher, even at far western
markets, where receipts are restricted.
The foregoing features are most conspic-
uous at Chicago and San Francisco, but
are having a very unfavorable effect at
Minneapolis, st. Paul, Milwaukee, Omaha
Kansas City, st. Louis and Cleveland
General trade at New Orleans, Mobile,
Savannah, Nashville and Memphis has
been unfavorably affected by the railway
tie up.
Favorable crop reports from Texas stim-
ulRtes merchants to expect good fall
trade. At the larger eastern centers there
is no material gain in the situation be
yond a speculative squirt in wool, which
increased the volume of sales of
the same at Boston to total four
times as large as that reported in the
week year ago. Six New England cities
shipped lO5, 900 cases of shoes last week,
against l01, 600 in the week a year ago.
One of the largest cotton manufacturing
corporations in Rhode Island has closed
down for a week, and other cotton mills
continue to pile up stocks.
The United States and Canada carried
over on July fully 73,50O,OOO bushels Of
wheat against 75, 500 coo bushels one year
ago and one-half to one-third as large
quantities visible in preceding years The
total here, in Canada and ahoat for
Europe July / was 146, ,519, 900 bushels
compared with 1872, ,3OS, 600 bushels one
year ago. With Australian stocks in
cluded, the worlds available wheat supply
July was 154, ,3l9, 600 bushels against 157,
20S,0 900 bushels one year ago, when the to
tai was the largest on record for a like
date.
Business failures show a further de
crease within a week, the total being 1874
against 1S9 last week, 319 in the cor
responding week year ago, and 1852 in
the week two years ago There were 3S
! failures reported from the Canadian Do
minion this week; last week the total was
| 2S; against 26 for the same week last year
r. G, Dun & Co. s review of trade says
The interruption of business by the rail
road strikes has been such that the usua
| signs, whether bright or gloomy, have
| little value. The senate has passed tn,
tariff bill, but in such a shape that no on,
ventures to risk much on its final passage
without further alteration.
| Speculation in products has turned
largely upon temporary uncertainties, bu
| meat products have been higher, with I
1 bhrea Je neu famine mere, ana Jne pfODa
bility that large quantities will be spoiled
at Chicago, while improved crop product
have depressed wheat
The iron industry had not yet recovered
| from the coal miners strike when it wa
seriously interrupted by the blockade o
railroads at the west. An obvious effec
will be restriction of repairs and ca
building and of track laying. A large
duction in the demand for iron is the nat
ural consequences of the disturbances at
fecting the railway earnings.
Textile manufactures do not show i'm
provement, two important cotton m II
manufacturing colored goods hav.ul
stopped indefinitely, while the unsol,
stock of print cloths at Fall River au'
Providence has reached 1.064, 900 pieces
and a downward revision in prices o
bleached sheetings is expected.