The times. [volume] (Richmond, Va.) 1890-1903, 1894-03-24
UNCERTAINTY IN TRADE.
THE vOLUME REPORTED LAE"HH
BUT NOT MORE PROFITABLE.
Very Little Encouragement In the Presen'
Outlook, but Better Times are Com
ing-As Dun sees 1t.

NEW YORK. March 23.-R. G. Dun q
Co. Weekly Review Of Trade to-mof-
row will say:
II Is perplexing TO be obliged 10 re-
! port that business grows larger IN VOL
AZ the same time not more proh'ap
Uncertainty does not diminish, Dut mas
rather Increased, In the judgment OF many
commercial bodies which have ursed .I ,'
President 70 veto the seigniOrage Din
Prices or commodities do not rise, pul
are on the whole about is per cent. lower
than last week. though then the lowest
ever known In this country. and are -
per cent lower than a year ago. 10
more gold has gone abroad. and stocks
average only three cents per 800 higher
for railroads than last week, and exactly
the same for trust stocks. but some Tor
eign purchases and the intervention OF
a holiday explain the steadiness. More
mills are at work. though the proportion
Of productive force unemployed is stu
from a fifth 10 a third in different branch
es Of industry, and many mills are stop
ping because their orders have run out,
even while a larger number are starting
with orders enough for a time. The
prospect Of getting constant or remunera-
tive employment for works and hands
does not change. The fact that orders
keep only part Of the force at work
ward, though spring is near at hand, rem
ders present business less profitable and
the future less promising. The starting
Of four furnaces by the Illinois Steel
Company, and one other at Pittsburg in
creases the output Of iron. and some large
sales have been made AT the lowest prices
yet reported. with indications Of con-
tinued demand for structural work, and
especially at the West on the other
4f4la I.N
the way to improvement. seems 10 slacken
and nails are said 10 be selling lower
than ever below one cent. A reduction
Of sixty per cent. in freight, from Pitts
burg TO Tidewater, only adds 20 western,
while IL takes from eastern business.
in shoes some concerns which have
been running on large orders, for cheap
goods, find their order exhausted, but
for other medium and lOw-priced goods
the demand is improving and shipments
from Boston for the month thus iar have
been 1871 per cent. less than last year
Textile industries are answering the
growing demand for rcplenishment Of
stocks with hand-tO-mOuth production.
Mills getting orders enough TO start
and others which have filled orders IN
sight stop without trusting TO future
trade. The demand for cotton goods Is
fairly large. but with reduction IN prices
OF some grades, and the accumulation
OF print cloths continues A large auction
sale Of silks brought fairly satisfactory
prices Sales Of wool for three weeks
have exceeded last years 255 per cent,
though transactions this month or last
year were about 30 per cent. below the
average.
The volume Of domestic trade measured
NV clearines for the week has been
POI Der cent. smaller than last year
and outside of New York lI9 per cent.
smaller. the decrease there being less
but at New York greater than for the
previous week. There Is an encouraging
Increase. the first for many months, In
east-bound tonnage from Chicago, and at
indianapolis the movement IS almost as
large as last year, while West-bound
tonnage of hgh-class merchandise Is also
large. But the accumulation Of idle
money continues as it could not il bust
ness were materially enlargng, and the
demand for commercial loans Is no bet
ter than It was March lst. While inte-
rior rates Of exchange harden, the banks
here are again discussing the need of
reducing interest paid on deposits.
The Treasury has been losing a little
Of its balances lately customs receipts
for the month so far being only $9.6S6,
259 against $l5.Gi5,Gs last year while in
ternal revenue IS also shade smaller.
With long delay in fixing the basis OF
taxation Treasury embarrassments in
crease, and since the Bland bill passed
the Government bonds recently purchased
are quoted at prices below the cost. with
interest.
The failures for the week ending March
18th involved liabilities Of only S2.55SS1S.
and for two weeks Of March, only 81
S3,llO Of which $2,3s0,257 were of manu-
featuring. and S2.l46.O69 Of trading con-
Germs. Some deferred reports will further
swell the aggregate. but at San Fran
cisco the assumptions reported now ex-
coed the failures. A number Of railroad
receiverships are noticed. though none
of Importance. The failures this week
number pa in the United States. against
2l7 last year, and fifty in Canada. against
twenty-siX last year. 1t is noteworthy
that Canadian failures are considerably
increasing