The Providence news. (Providence [R.I.]) 1891-1906, 1894-01-27
Textile Industries Resuming
Temporarily on Orders.
A SLIGHT DECLINE IN STOCKS.
Clearings Are Much smaller Than "a
Year Ago-The Sales of Wool Are
Larger and There is an Increased
Demand for Iron.

New YORK, Jan 27.-R. G.. Dun & Co. =
Weekly Review of Trade says; Secretary
Carlisle's decision TO issue bonds, and the
early reports of large bids for them, help
to accelerate the recovery Of industries
and trade, as was hoped last week. The
sale of the amount offered will check anx-
iety about maintenance Of note redemp-
tion, remove the only preteXt for further
issues of paper, and thus give solid basis
for greater confidence regarding the finan-
cial future.
The industrial gain is more definite
than a week ago. Few establishments
have stopped work, while many have re-
sumed or increased their production, and
the aggregate increase is considerable.
Reductions in wages continue, and about
a quarter of them are 20 per cent, the rest
ranging from to IL per cent.
KIn no direction are quotations of manu-
factured products higher, but the general
tone is somewhat stronger. Thus distinct
improvement is noticed for iron products
at Philadelphia though for some quota
tious have been reduced. The Tennessee
Coal and Iron company has made con
tracts for ore, which reduced the COS of
its iron % l-2 cents ton.
ducts is mainly in structural forms, cast
pipe, wire rods. barbed wire and wire
nails. while in rails and other railroad
iron business is remarkably small. For
the fourth quarter of 1898 the reported
cost of new buildings in New York and
Brooklyn was S6,22l,170, against Sl3, iO6,-
2l5 in the same quarter of 1892.
More Mills to Start.
Textile industries have increased their
working force, mainly in knit goods,
underwear and carpets, though several
wooden mills have started and others are
reported about to start.
Sales of wool are larger. amounting at
the chief markets to 4,0s3, 200 pounds,
against 5,66l $50 for the same week la 4
year; but prices at Philadelphia are l-2
cent to cent lower, while at New York
there is more inquiry from carpet and
other mills
In overcoatings no samples of promi-
nent makes are yet shown nor prices
named, and the kerseys opened are from
~ to IS cents below last years prices.
Worsteds appear to have a stronger posi-
ton, and better business i'm dress goods
is generally reported for the week.
Cottons are not stimulated. as was
hoped by the reductions announced, and
the effect has been TO make buyers of
other goods hold off, so that the market
is weaker.
Carpets report improvement, especially
in lower grades. and orders to replenish
stocks are nearly as large as a year ago,
The shoe and leather trades appear to
gain little, though shipments from Bos-
ton for the week are again "A per cent
smaller than last year.
Produce markets have been decidedly
dull, though wheat for May fell at one
time TO the lowest point on record.
Coffee and petroleum are a shade lower.
Cotton has advanced n shade, although
receipts continue heavy.
Big Break In Sugar.
The stock market has but slightly de
clined, though trusts were affected by n
break of 81 share in sugar.
Domestic trade is the key of the situa-
ton, and clearngs outside New York are
"a. | per cent smaller than a year ago
This is partly because the average price of
commodities is 1873 per cent lower than
year ago, having fallen 4.3 per cent since
Oct. l. while British prices, according to
the London Economist, fell 25 per cent
Oct. to Jan. L.
Failures in the United States were 430
this week, against 255 last year, anu So in
Canada, against 40 last year. All small.
The liabilities of firms failing thus far re-
ported this year, amount 10 sl3, COS, 900 of
which s6,072, ,s91 were of manufacturing
and 81, 500, 353 of trading concernA