The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1894-03-16
pUN,s TRApE REvIEw.

Evidences of Present Improvements Null
tiDiy But without Much Confidence i'm
the Future-Greater Activity Noted
Among the Producing Industries to Re-
PlenIsh Reduced Stocks-The Weeks
Failures of Small Moment.
New YORK, March 1O.-R. G. DUN &
Co. s weekly review of trade, issued to-
day, says:
Evidences OF present improvement in bush
ness multiply, but confidence in future i'm
proyement does not seem to increase. Thero
is more business and a larger production by
industries, for the season has arrived when
greater activity is necessary III dealers stocks
are TO be replenished, and those who can
not make calculations beyond few months
are the more anxious to crowd as much
trade as they safely can into these months. In
some branches OF distribution. however there
are indications Of diminishing demand for
goods. and the evident preference to medium
and low-priced articles, with the known re-
duction in wages and family expenditures,
lead many TO feel somewhat less confident that
business will soon recover its former volume.
The undertakings beyond a short time are not
made with great freedom. and in spite of
larger demand the prices Of manufactured
goods tend downward.
The most distinct gain ia I'm iron and steel.
The output Of pig iron March was 30, l6e
tons, having increased 10 per cent. during the
month, although il Is still 37s per cent. less
than year ago. II is also stated that some
other furnaces have gone into blast since
March 1, and that unsold stocks have made
practically no increase in February, so that
the actual consumption in all branches of manu-
featuring is at least 10 per cent greater than
in November, December or January. Yet
prices are lower steel billets S15.25 at Pitts
burgh, and plates s1l5 at Philadelphia is the
lowest ever known. Rates in bar iron are fiat,
and with larger production Of coke, con-
tracts are made at as low prices as ever. Tin
is lower with a fall at London. being quoted
here at 1875 cents, and copper does not i'm
prove, though lead is slightly higher.
Shipments of boots and shoes from the east
are l4.s per cent. smaller than year ago, the
same week, and purchases are still mainly OF
medium or lOw-priced goods.
In textile manufactures and dry goods there
are increased activity and replenishment Of
stocks, as is natural at this season. But the
demand thus far falls much short OF expecta-
tions, and it's character indicates great econ
omy in consumption. A reduction In VAN
sutta sheetings and in Carriers fancy prints to
"A cents indicates the Judgment of the
leading concerns that the markets re-
Quire more stimulation than usual In
WOolens, also. manufacturers are increasing
production, mainly in a tentative way, or
on orders which are little more than suf-
hcient to test the market. But the sales of
wool at the three chief markets for the week
have been only IL per cent. less than for the
provement in part due to the fact that the
mills having any orders are buying at once
what wool they expect to need for months to
come.
Speculation has been much more active, II
not more healthy. The sudden fall in sugar
certificates has not tended to impart conf
dence to the stock market. and while the aver
age Of railroad stocks is 90 cents a share
higher, and OF trusts 81 per share higher for
the week, all movements have been based
mainly on reports about legislation which
varied from hour to hour.
Railroad earnings in the fourth week OF
February were IA per cent. less than last year,
against 1875 for the third week and 1872 for the
month thus far, the decrease on trunk and
eastern lines being nearly 10 per cent on
southern. 1884,; southwestern, 1874: grangers,
e.S; other western, Ell, and Pacific roads. 244
per cent. It is encouraging that net earnings
in January were better than for some months,
but east-bound shipments from Chicago for
three weeks are stin 1874 per cent less than
last year.
Breadstuffs and oils have been stronger, pro-
visions weaker and cotton hesitates.
The volume Of domestic trade show nby clear
fngs decreases for the week only ia per cent.
outside New York, and $40 per cent. here, COM
pared with last year. In foreign trade changes
are also for the better, exports having been
large, and for four weeks IA per cent. larger
than last year, while the decrease in imports
for February was 81 per cent. Thus, customs
revenue does not improve and for the week
has been 81 per cent.less than last year, the de-
crease in internal revenue being IS per cent.
Money is weak, with further decrease in the
demand for commercial loans.
Failures are growing less important and
somewhat fewer also. For the week ending
March 10 the liabilities thus far reported were
only g, go, S32. and for four weeks of February
s14 SS6 091, OF which &C. 732. 6l5 were OF manufac.
lures and a., 697. 1877 OF trading concerns
The failures during the past week num-
bered, in the United States 24s, against 1893
last year; and in Canada 50, against 80 last year.
Scarcely a single one is OF importance. and it
is gratifying that the consequences OF the
great reverse last year have been SC far over.
come.