The Portland daily press., 1894-12-22


Trade is Dull With the Exception oi
Holiday Goods-Bank Clearings Show 6
Heavy Increase Over Last Week-Ths
Value of Our Foreign Trade Has In
creased.
New York, December 2l.-Bradstreets to
morrow will say: The volume of genera
trade continues small; as expected from the
evidences of shrinkage within the month
The usually mild, unreasonable weather
continues to check the distribution of coal
heavy clothing. shoes and rubber goods II
the northwest, south and throughout the
central west and eastern states. Although
at the larger cities there are favorable re-
ports as to holiday goods and specialtles al
retail, they are for the greater part the out
come of the bright, mild weather. The yeal
1894 naturally brings low quotations fol
staples, and securities as characteristic OF
years following those marked by pan1cs,
The lowest prices on record are OF recently
have been made forsiron. steel, wheat, Indian
corn, cotton and wool. An improvement In
prices is recorded in only few leading
lines, as wheat, copper. and the lower
grades of shoes, which long sold at de-
pressed figures. Nine important staples
with prices steady OF firm, ,are leather. hides,
lumber. lard, live hogs, coffee. naval stores,
cotton and pie iron. At Chicago. when one
considers the list of staples for which the
weeks quotations are lower. and it 1s.found
nearly equal to those in which advances and
steadiness il. price is given. Cotton goods
are weaker, and the sales of moment are
made only at concessions. The auction sale
of cotton goods at New York resulted favor
ably indicating that trade will stock up at
a price. Business in woolens is at stand
still, and will remain so until after January,
when the new tariff on provisions will 60
into.effect. The prices at which woolen
mills are willing to take orders discount
any prospective change in the tariff. and IL
is declared that American mills will hold a
share of the trade. The sales of WOOL are
lower. Bessemer pig iron breaks.all records
by dropping to $3.50 ton. $40 having pre-
viously been the lowest. Steel billets are
also off. striking SIS fat. loss of about
fifteen cents. Experts and others regarding
the steel rail market are at sea whether 1t
will decline further. Petroleum certificates
reacted somewhat after the recent nominal
advance, and Indian corn and oats are off
fractionally on increasing stocks. Pork ls
a shade lower, and refined sugar is likewise.
Heavy receipts of cattle and sheep at west
ern markets tend to depress prices. Jobbers
and other wholesalers as a rule. report COM
merciaI travellers off the road. and little
doing except to take account of stock. The
outlook for trade after the holidays is fair.
Larger Chicago dealers report stocks on
hand as larger than expected, except among
jewelers., who have undoubtedly enjoyed a
he aVy trade.
THROUGHOUT NEW ENGLAND
and the Middle States. ge neral trade is of
moderate proportions at most cities, being
seasonably dull. and in marked contrast to
the activity prevailing among the dealers in
holiday goods. There has been no improve
ment in mercantile collections except. In a
few lines at Philadelphia, although the
comparative promptness with which ac-
counts are being paid to Baltimore jobbers
is worthy of notice. Aside from the i'm
proyement in demand for funds at Buffalo.
none of the larger easter centres report in
creased tirmness in the money market.
Providence textile manufacturers LOOK for
an improvement after the new year, as do
the jobbers at New York, Boston, Pittsburg
and. Philadelphia. From a dozen of the
more important western and northwestern
trade centres, a distribution of staples is re-
ported as quiet or moderate in volume, ex-
cent from Cincinnati, where there is a
slight gain.
Collections are only fair at Detroit,
Omaha, Kansas City. and at Chicago and
St. Louis they are more prompt. The de-
mand for funds at Chicago, as at Buffalo.
Al bat firm, M hAinp
eIatively the best borrowers.
Dealers in furs and jobbeIs In most
STAPLES at Detroit. Minneapolis, st. Paul
and Milwaukee report this the mild est De-
cernber for many years, and has greatly In
te rferred with trade.
Five grain vessels cleared from Portland,
Oregon, within the week. and at San Fran
cisco prospect of very heavy wheat crop
southern cities general trade remains quiet
and unchanged or of moderate volume.
BANK CLEARINGs.
The bank clearings of six business official
totals from seventy-five cities for the week,
amount to 81, ,0lS. 1928 900. as compared with
S94I, ,7I2, 600 in the week year ago. an in
crease of S.2 per cent. In the corresponding
week two years ago,the aggregate was ST.
5ll, ,O0O, ,0OO on of the largest totals on record.
The total for the third week in December,
1891, was 81. .238, ,u0C, 900. The total number of
failures in the United States this week we're
500, as compared with 353 the week year
ago. The exports of wheat flour included
as wheat) for both coasts of the United
States within the week, amount to 3.554.-
600 bushels. The total in the third week of
December, 1898, was 2.6O5, 900 bushels.
OUR FOREIGN TRADE.
The value of our for eign trade in October
was nearly three per cent more this year
than last. owing to largely Increased impor-
tations. 15s per cent of the exports having
fallen off 4.S per cent. October imports of
ch emicals, coffee. rubber, iron, steel, raw
silk and wool have increased. while those of
sugar have declined heavily. The, exports
of bread stuffs, provisions, oils has de-
oraa sod xuhila thnsa of COTTON. tobacco.