The evening bulletin., 1894-12-22
THE HOLIDAY TRADE
1t Has Been Rather Poor at
Most Places.
THREE REASONS ARE FURNISHED

Mild Weather Is One of Them, but the
Large Exports OF Gold and the Uncer.
tainty About Financial Legislation Are
pany's Weekly Review.
New YORK, Dec. 22.-R. G. Dun 5
weekly review of trade says: But for
the large exports of gold and uncertain.
ty about the financial legislation, the
indications would be more encouraging.
Some increase is seen in orders given TO
manufacturing works, though until the
year ends the force actually at work
naturally dlminishes. The holiday
trade has been rather poor at most
points, owing to mild weather.
There is distinctly more confidence
shown about the future demand for
industrial products, though prices are
not better. Domestic exports increase
little, though exportable staples are
not better in price In November the
excess of merchandise exports over i'm
ports was $27 ,573, SOL, besides 81, 93l ,03l
| silver; and December returns indicate
as large an excess. For this very
reason the exports of s., ,332, OIL in gold
since last Friday, and the Withdrawals
OF about three times as much gold from
the treasury are the more noticed.
Money continues to accumulate here.
and there is no enlargement in the le.
gitimate demand for commercial loans,
though some offerings of paper, appar-
emily to prepare for yearly settlements,
have excited remark.
Prices of agricultural products do not
improve. Wheat is unchanged for the
week, although western receipts have
fallen to 2,3O4, 925 bushels against 2.
594, $40 for the same week last year, and
it does not count for much that the At
lantic exports were 936, ,645 against 744,-
547 last yer. The visible supply still
grows and is now SS,l73000 bushels.
Corn fell cents for the week, though
western receipts were only l,522, ,63G
bushels against 3,5S2, ,204 last year, ana
Atlantic exports more than third
smaller. Government estimates do not
seem to affect actual transactions.
Cotton has declined sixteenth to
500, and receipts from plantations con-
tinued larger for December tran in
1891, when the crop was over 5000, go
bales. The theory chat producers will
not make the current prices does not
yet ut the facts.
Larger orders for manufactured prod
ucts have appeared, and yet, except in
boots and shoes, the general tendency
of prices is downward.
Steel billets sell at $15 at Pittsburg
and Bessemer pig at -. at Valley
Mills, and in other prouucts the tone is
os the whole weaker, except that stl'uc-
tural beams hold the recent small adj
vance. Yet quite large transactions are
reported i'll pig iron and billets and i'm.
proved demand for barred nails, while
nothing is doing i'll rails and business
in sheets and plates is light COmpe-
tition between the works, which is not
enough to keep them employed, pushes
prices in many lines below the ordinary
cost of production.
Copper is strengthened by customers
demand, ana the output in November,
1854 tons domestic and 6,96+ foreign,
was the smallest trade since February.
Lead has sold largely at 3. l cents, and
tin has been depressed half cent by
speculation. In shoes manufacturers
are obtaining a good many orders ut
z l2 at cents advance over last years
prices, where still large differences in
cost OF material are claimed, but many
jobbers hold off, as want OF entire
agreement among producers raised
doubt whether the advance will be
maintained.
The failures for the past week have
been $40 in the United States against
344 last year, and SO in Canada against
81 last year.