Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1894-01-27
BOND ISSUE FRUITFUL.
1t Already Gives Confidence In
the Financial Future.
DEFINITE INDUSTRIAL GAINS.
Many Manufactures Have Resumed Work,
While Few Have stopped-The Working
Forces In the Mills Have Been Increased.
No Large Failures Reported.


No Large Failures Reported.
NEW YORK, Jan. 27.-Dun's Weekly Re
view of Trade, published today. says:
Secretary Carlisle's decision to issue
bonds and the early reports of large bids
for them helped to accelerate recovery of
industries and trade, was hoped last
week. The sale of the amount offered will
check anxiety about the maintenance OF
note redemption, remove the only preteXt
for further issues of paper and thus give
a solid basis for greater confidence regard
ing the financial future. The revenue is
still small-from customs in January thus
far, $40, sos, sol, against $40, 9S5, $50 last
year, and from internal taxes, 50, 4S7, 979,
against S1l ,06S, 49S-and the volume of do
nestle trade is still small. The increase in
the number of hands employed adds to the
purchasing power of the people, and deal
ers' stocks are so reduced that any sign of
larger consumption quickly gives mills
more orders. In short, the conditions are
such that if not interrupted by adverse
forces they would naturally bring steady
revival of business.
Definite Industrial Gain. .
Industrial gain is more definite than a
week ago. Few establishments have stop
ped work, while many have resumed or in
creased production, and though these are
not works employing thousands each the
aggregate increase is considerable. Reduc
tions i'll wages continue, and about n quar-
ter of them are of 20 per cent, the rest rang
ing from to II per cent. Iu no direction
are quotations of manufactured products
higher, but while some have actually de-
clined the general toneis somewhat strong
err. Thus distinct improvement is seen
N "a demand nrn6nntS q a
delphia, though for some, which it was
thought could not go lower, quotations
have been reduced. The increase in de-
mand for iron products is mainly in struc-
tural forms, cast pipe, wire rods, barbed
wire and wire nails, while in rails and 9th
er railway iron business it is remarkably
small. For the fourth quarter of 1898 the
reported cost of new buildings in New Y ork
and Brooklyn was 81, 221 no, against S13,-
1862 in same quarter of 1892.
Textile industries have increased work
ing forces mainly in knit goods, underwear
and carpets, though several wooden mills
have started, and others are reported about
to start Sales of wool are larger, amount
ing at the chief markets to 4, 033, 200 pounds,
against 5,661 $50 for the same week last
year, but prices at Philadelphia are "a to l
cent lower, while at New York there is
more inquiry from carpet and other mills.
Trading was checked by disappointment
regarding the date at which the changes of
duty are to take effect, and there is little
desire to place or accept orders until the
future is more clear.
The Textile Industries.
In overcoatings no samples of some prom
inent makers are yet shown nor prices
named, and the kerseys opened are from
25 to 35 cents below last years price. Worst
eds appear to have a stronger position,
and better business in dress goods is gen.
orally reported for the week. Cottons are
not stimulated, as was hoped by the re-
auctions announced, and the effect has
been to make buyers of other goods hold
off, SO that the markets. weaker.
Carpet manufacturers report improve
ment, especially in lower grades, and or
ders to replenish stocks after months of in
The shoe and leather trades appear to gain
n little, though shipments from Boston for
the week are again "a per cent smaller than
last year.
New York banks again added to their
enormous stock of money, and offers are
made for full year at per cent, the low
est rate on record for that period, while for
short loans l per cent rules. DemoraliZa-
ton in silver was caused by the abandon.
ment of the proposed import duty by the
government of India and also of the fixed
price for council bills at London, but for
eign exchange is not seriously altered.
Failures in the United States were 430
this week, against 225 last year, and 55 in
Canada, against 40 last year. None is of
great magnitude. The liabilities of firms
falling thus far reported this year amount
to S13,66S, 800, of which S6,072, S37 were of
manufacturing and $6,SO0,353 of trading
CnDcprDS