Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1894-01-08
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NEW YORK, January 6.-Business gener-
ally during the past week can best be de-
scrioed as fair, with money abundant at
low rates, aud Frightening tendency APP
parent. Ia manufacturing lines, however,
the outlook remains very much the same,
nor Is ii probable that any great change
Will take place until the adjustment OF the
tariff revision. The present state OF affairs
in this direction naturally causes a feeling
OF unceri ainty as 20 the evestual outcome,
and while manufacturers are anxious to r.
ce.ve and I'll all the orders possible, still
they are not inclined TO make up any sur
plus stock until the impending rcvisous
have become settled in one way or another,
and thus made actual facts. At the moment
there is, As II were, no well defined basis
upon which they can work.
ire talk OF a per5oual income tax OF
per cent on incomes OF over 900 has nat
urally been unfavorably received by the
business men At this center. There is much
IA Tx against IL, aud IL has added 10 the a.
ready numerous and depressing factors ~
present impending. Outside OF the above
features, however, the general tone OF AZ.
lars AZ tbs city continues TO improve and
10 gain strength. Money is iu abundant
supply, and can DO had la all quantities Ut
! per ccut. On call, per cent. for time
money for ninety DAYS, ~ per cent. for
s!A months, aud per cent for nine months
on good collateral. In the commercial
paper market business Is duh. with prime
endorsed bills receivable quoted NJ % IA
per cent. choice sing lo-named paper at "a
90 per cent, and paper Classed as good AT
a. per cent.
oN TIRE STOCK ENCuANGE,
trading is, nt best, only fair. The market
is largely at the mercy of professional
operators, who, in the majority OF cases,
couhue their mauOeuVrcs TO "a few special
issues leaving the remainder OF the list 10
iluctuate In sympathy with the changes
brought about in the values oi the more
heavily dealt in stocks. Tho general pub
.ic nave taken but small interest in the
trading during the week, and even those
mat did speculate, did 90 very lightly
There was some purchasing of the more
favorable railroad securities, for
investment purposes, brought ABOUT
uy the low prices for
which these can be bought out even this
buyin, was on "A small scale Government
bonds continue firm a. unchanged quota
tons. while railway bonds are becoming
stronger in tone and higher IN price. Many
oi Tie rumOrs which affected and depressed
speculation during the week, have now
been disposed OF; chief among these being
that the Holland Trust Company has vr-
tualiy decided Ia liquidatc. aud that tho
southern National Bank proposes TO in.
crease its surplus by reducing its capita.
one-haii. Also the rumors which were
spread regarding the embarrassment OF
some private banking houses had very lit
tie foundation, aud wcro for the most part
very misleading.
1t is generally considered here that the
private banking houses Of this City, are
ia pretty good condition.
IS THE NATIONAL. HANKtNGi1
money has continued to accumulate at this
centre. until the surplus reserve OF tho
banks now amounts to SOSl5 $50 which
makes the actual cash on hand S2O7, 424 600,
and this enormous amount, the banks are
unable 10 put into actual employment.
w hat . 90 with this money, is tho prob
lem that is to-day confronting tho leading
bankers OF this centre, and without "A
solution. Loans are increasing at the ratio
Of Sl,5CO,0OO, a week, but AZ this small
rate is not increasing the situation 10 any
perceptable extent. As u is.
the banks are making no money
aud can find no outlet for their funds, al
though they are vanly Offering them at
extremely low rates. When once the man
u4acturug Interests Of the country get into
active operation again, however, IL is likely
that much OF these vast idle funds can find
ready takers, as IL liz probable that the de-
mand for money will then become brisk
In the commercial world, many lines,
particularly those OF small wares and cheap
goods, are experiencing better business,
and the outlook is one Of expansion
Merchants generally report collections
as better, and are not now suffering so
many bad debts Buyers who are usually
GOOD pay arc making settlements promptly,
put those who arc invariably slow, are
worse than ever, and delaying payments
as long as possible.
Business houses generally are more con
seTvatIvc in the opening OF new accounts,
and are exhibiting caution ia the soliciting
Of new business.
When taken altogether the situation is
one steady Improvement, and a feeling Of
hopefulness is almost universally pre-
dominant