The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1894-05-19
FINANCE and TRADE.
The Effect Of Legislative Inaotion
Oh the Industries.
GREAT RBOUPBRATIvB POWERS.

Notwithstanding the Influences Which
in Amy Other Land Would Cause Dire
Disaster the General soundness Of the
Commercial world Is Evidenced.
NEW YORK, May 19.-R. G. Dun & Co.'s
weekly review OF trade says; The obsta-
eles 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 mum
Der of works resuming operation, and the
general soundness of trade notwithstand-
ing influences which in any other land
would produce dire disaster.
Wheat has sold at 81 cents for May, and
57T cents for July, though western re-
ceipts have been only l,215, ,54S bushels for
the week, against 2,3l3, ,046 last year. Ex-
ports were but 79l, ,727, against 1000, 164
bushels last year, and the fact that gold
goes instead of wheat at 81 cents or cot
ton at 719 cents has more weight 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
Il - AT
81 997, ,59S, of which 81 400 982 were OF
trading and 1892, ,6O6 of manufacturing
concerns. The failures this week have
been 22O in the United States, against PAT
last year, and "A in Canada, against 140
last year.
Bradstreet's financial review says: In
vestment and speculation are still at
tended by uncertainty and hesitation.
| The market Is consequently very restricted
and displays no little irregularity In its
movements. The past week, however,
| has developed increased activity and in
| terest in the railroad share list, although
this consisted almost entirely Of renewed
| and to a certain extent successful profess
sional assaults upon values. The weak
element Ia the IN arket continues to be the
securities Of the bankrupt companies, and
the shares which are liable to assessment.
In view of the heavy contributions,
which It seems necessary to require in
many instances, there has been considers
BILE liquidation Of this class of holdings
The declines thus produced seem to be in
dependent Of the pressure which bear ope-
rators have exercised on some of the Gran
ger stocks. In the later instance the move
ment 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 "a high
charges rs 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,
iobbers in staple goods have not found a
corresponding increase in demand. Con-
tinued uncertainty regarding tariff legis-
lstion restricts trading in futures in all
staple lines This is largely responsible
for the reduction In the volume of bank
olsArings.