The Olneyville tribune. (Providence, R.I.) 1893-189?, 1894-05-05
CONDITION OF TRADE
No Improvement During
the Present Week.

Present Depression-Tendcn OF
Prices still Downward-Contrs ST.
ing Situations in Different Lines.
NEW YORK, May 5.-The movement of
general merchandise throughout the coun-
try i smaller in volume. Spring trade is
finished. and orders for fall delivery are,
with few exceptions not meeting cXpecta-
tions. Jobbers in leading lines at almost
all large cities report sales almost without
exception as of a hand-to mouth descrip-
ton. The eNtention OF the coal and coke
strike, accompanied by riots at Cleveland
and at Mesaba, has emphasized the depres-
sion. The industrial situation, therefore,
has not improved, according TO Bradstreet.
Bad Eject of the Strikes.
Strikes of ore miners among building
trades, with an extension of the coal
miners strike, and the almost total cessa-
tion of operations in the coke regions, have
swelled the total number of idle industrial
workers 10 fully 2l6,O00 Shutdowns of in
dustrial concerns dependent on coke or
soft coal for fuel are increasing notwith-
standing an attempt OF coal operatives and
operators to get together to arrange basis
of settlement.
April bank clearings (S3, ,697, ,S45 42S) show
a smaller decrease compared with last
year, only p per cent, than for some
months This is due 10 the reduced value
of trade and clearings totals in April,
1898.
Prices Still Downward.
The prices movement tips the scales,
with Indian corn, oats, cotton, coffee and
refined sugar all lower, and wool and some
varieties of woolens and cotton goods
heavy, with marked tendency of quota
tions 90 weaken. Wheat scored its fifth or
sixth lowest price on record during the crop
year, 60 IA C. at New York. Ofsetting
the foregoing are unchanged prices for pork
and lard, a fiImer but unchanged price for
rice, raw sugar 1-3 C. higher anthracite
coal irmer, bituminous coal higher and
scarcer bar and manufactured iron firmer,
and steel billets and Bessemer pig iron 81
higher.
Contrasting Situations.
A relatively favorable report comes from
Detroit, where there are fewer unemployed.
Another contrast is seen in New England
shoe factories running on short time, while
in St. Louis four months shipments are in
excess of last year. Transaction in wool
have slackened, and prices of some grades
are weaker Cotton goods stocks are ac-
cumulatng with manufacturers and prices
are weaker, but a favorable report is re-
ceived from the Providence worsted indus
tries, where demand is improved and,
whether due TO special causes or exception
ally low stocks, has resulted in renewal of
confidence among manufacturers There
is more animation in demand for lumber
and leather at Philadelphia, but increased
prices for Bessemer pig iron and steel bill
lets at Pittsburg and other points, due in
part TO scarcity of fuel, have not resulted
in more orders.
Fewer Business Failures
There were 179 business failures in the
United States during the week against POI
last week, 24S in the like week year ago,
when the financial disturbance was begin
ming to be keenly felt, as compared with
166 in the opening week of May, 1892 and
166 in 1891. The falling off in failures is
chiefly in the northwest and New England
The New York stock market is sensitive
and irregular The alleged prospect of
a compromise tariff passing the senate and
alleged concessions TO sugar and other in
dustrial interests have been giving consid-
cradle strength 10 industrial stocks The
abandonment of the Reading reorganiza-
plan and fears of foreclosure and heavy as
sessments on stocks of bankrupt properties
caused liquidation in such properties.