The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-05-19

Serious Enects of the Coal Miners Strike
| 70 the Closing Down OF Industrial
/ Works-Foreisn Shipments Of Gold and
| the Depletion of the Treasury Rtserve
the Most Disquieting Signs of the
Times.
NEW York, May I2.-R. G. Dun &
Co.'S weekly review of trade, issued to-
day, says:
The strikes begin TO have n serious. though
| II Is assumed. only temporary effect The
/ rirnbcr of works depending upon supplies OF
biIuninous coal or coke for fuei IS latge. and
| quite considerable proportion OF them have
\ already been compelled to stop operations.
| No doubt the proportion is larger in iron
and steel manufacture than any other bust
| uess, but nearly a third In capacity OF the iron
| furnaces at work month ago appear to have
| closed. Some railroads at the ives: are en-
| barrassed and textile works OF some import
ance must close soon unless the strike ceases.
The movement OF sOcalle1 armies OF the un-
employed on Washington has caused little ex-
citcment, and is less important or significant
than the outward movement OF specie, which
shows shrinking foreign demand fer products
and further withdrawal of foreign capital
But neither strikes nor foreign .distrust long
retard the progress OF this country.
The capacity Of iron furnaces in blast May
was li0, 30 tons. a decrease of i6.5ia tons dur
April: but the Iron Age has telesraphic re-
ports OF stOppage by other furnaces having a
capacity Of - U9a tons. including some ex-
pected to stop this week which would mean n
decrease Of about third in product since
April I. The fact that prices Of same grades OF
pig iron, especially OF foundry. show weak
ness. notwithstanding there has been no in
Crease in stocks unsold. seem to indicate that
about As large n proportion of the works using
pig iron material has also been compelled
10 stop. and il is stated that in tue Pittsburgh
region many are close TO the end OF their sup
plies Of fuel
Prices of finished products are fully main
tanned and many kinds have advanced 4 little.
but 1t is noticed that the demand Is not as
large as was expected. and while an early ter
minaiiOn OF the strikes Is hopcl for. the ap-
pointment OF committees to negotiate regard
ing wages for the coming year brings attcn-
tiOn TO the fact that existing conditions do not
favor any advance in prices. or in cost Of pro-
duciion. In minor metals no industrial change
OF importance appears.
The textile manufactures are not improving
in position or prospects. for while orders DO
not increase uncertainties in regard to labor
grow more serious. The working force shows
much unwillinGness to accept for another sea
son the wages which were temporarily adopted
IN order TO have works reOpened after last
summer suspension. The apathy Of buyers
in cotton Is reflected in further decline OF
print cloths. although some qualities OF goods
have advanced slightly.
Sales OF wool again drop considerably below
those Of the same week last year. Though or
ders for woolcns are far below the probable re-
quircments for the next season. few manufac-
turcrS are bold enough TO make up goods in ad-
vance of the demand. while clothiers are very
cautious. The dress goods department has
much the hest Of the business. though its pro-
iuctiOn is considerably smaller than usual
The speculation in grain has a"ain broken
records with the lowest price ever made for
wheat. although western receipts are i little
smaller than year ago. while exports are also
smaller by more than quarter. The prevail
Ing belief is that the yield will. As in other
years. far exceed government Indications.
which are again pointing to 4 short crop.
Corn has changed in price but little and pork
products have been fairly steady. with oil and
coffee unchanged. but cotton is weaker in tone.
although receipts from plantations are a little
smaller than year ago 1t is a striking evil
dence OF the general want Of confidence that
there is 50 little speculation while money is
abundant almost beyond precedent
Nothing has occurred TO strengthen railroad
stocks. for tn" earnings of railroads continue
about as much behind last years as they were
In April or March. Rates cut in n most
destructive fashion. in spite OF all the talk
about irOuclad agreements. and the prospect
OF foreclosure Tor some great railroads. IN ne
fault tends 10 diShcart"n holders. The aver
age price of sixty active, railroad stocks is,
nevertheless only - cents lower for the week.
while the audacity Of spectators in sugar has
so far diminished that the trust stocks aver
age l3 cents lower.
Large exports Of gold. which are so far eN-
pccted to reach ssOD.0l0 this week. have
rhecked hopcfulncss in the stock market and
the decline Of the treasury gold reserve below
t9i ,0olG01 suggests the possibility that cOntin-
ued exports OF the precious metal may cause
not = little trouble before the season is over.
But at present the hanks are only Eratiiicd. az
the accumulation of money from the interior
has not ceased, while the demand for CONNER
cial loans does not yet enlarge.
One large failure about dOIbled the a-Src-
gate of liabilities for firms failing in the week
ending May ,. which would otherwise have
been quite small. but were 3 s9.919I The
number and tn" general average of liabilities
are still encouraginEly shrinking. For four
weeks of April the liabilities reported were
g. Sa6 sis of which s3.6S9.:s!O were Of manufac-
turing and a. 615 .6l9 OF trading concerns.
The failures this week have been s06 in the
United States against :57 last year. and i3
in Canada against q last year. with none OF
especial importance. although four bank fail
urPS are included