The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-11
THE TURNED TIDE.
Prosperity Assured by Sew
eral Factors.
Activity In Food Products-Hiqher
Prices for Metals and Leather.


In their weekly review of trade, say:
The event of the week is the demoraliza
ton Of foreign exchange, caused by enor
nous sales of bonds.
Besidesa sale Of 10000, 600 Manhattan
and other railroad bonds through the syn.
dicate, large purchases ON foreign account
have been recorded for some weeks, SO
that the aggregate probably exceeds $50.
0oooOo since the, sale OF governments.
Safety for the summer means much for all
business, and the syndicate deems IL so
fully assured that il distributed 40 per
cent OF the money advanced by the associ.
ates, which relieves O large amount 10
stimulate operations in securities and
products.
Crop prospects also have greatly inn
proved, and this is of still higher import
ance, as IL Will do much to determine the
character and volume OF all business after
summer uncertainties are over In addi.
tion, business Is rcviving, though the gain
In great industries Is retarded by many
strikes
Wheat and Pork Products.
Sales of wheat for the week have been
S4,OOO,OV0 bushels. Thursday brought new
activity. Wheat had fallen 2@ cents, but
rose 2 cents that day Western receipts
Were l,s67, l60 bushels, against 1881, ,76g
last year, and Atlantic exports, -four In.
cluded, 1,6l5,05l bushels, against 2,2l4,o4I
Inst year. In three weeks since the rise In
wheat these exports have been 5,I6O,l2l
bushels, against 7,s49,97l last year.
Fork has fallen 25 cents barrel, lard &c
and hogs 30 cents per 100 pounds
Cotton is lower, and receipts, in spite OF
familiar predictions of great decline,
still exceed those Of 1902.
Labor Troubles.
! The Industries were distinctly rainina
when strikes began, which have spread
quite widely. Garment workers In several
cities and Pocahontas coke workers are
still OUT with several thousand wooden
workers near Providence. Other wooden
mills, and the furnaces in the Shenandoah
and Mahoning valleys, which were makina
Is 900 tons week, have stopped, and the
Illinois steel works, the largest western
concern, so that works are directly affected |
which produced % per cent of the entire |
output April 1. The Amalgamated asso |
citation also proposes a struggle over the |
new wage scale.
The Metal Markets.
The output OF iron still exceeds the con.
sumption, but has fallen 1878 tons weekly
In April to 156,554 May l. Bessemer pia
mas been raised to u 80 at PittsburQ. and |
the general demand for finished products
does not equal the recent output. but
Is distinctly inoscasipg bars and sheets
selling more largely, though structural
are disappointingly slow.
lin has been raised to l44 cents and
copper to 10h by increasing demand.
Advance In Leather.
Hides are in demand at SA cents for
western bun, and consequently leather
VIII advances-oil and plow grain k cent
ma hemlock sole l cent. In CONSEQUENCE. |
many makers Of shoes are refusing to take
'rders, being unable to get the prices
which will cover past advances and Others
liable TO come. But shipments from Bos.
on continue larger than In any previous
ear.
Sales of wool for the week are less than
n 1872, but larger than in the past two
ears, though prices do not rise.
woolens and Cottons.
Rather more demand appears for mems
Voolens, but cancellations are also more
umerous, aud imports OF wooden goods
nth Withdrawals from warehouses, were
eout SlS S,OOOU0 in the first quarter OF the {
EAR, against about o. 0O0,OOO last year. ,
Cotton goods continue strong, mills be ,
~ well employed, and they hold heavie, ,
ocks than ever of raw cotton bought at !
w prices.
Business Failures. :
The failures this week have been 2p7 In
e United States against 2O6 last year.
Canado~ Good Showing.
Bradstreet says: General trade reports
nm the Canadian Dominion are excep.
,nally favorable. Toronto reports that
: auccs In cotton, sugar, leather and
heat have increased demand, helped col.
'tious and created n buoyant feeling.
The opening Of navigation at Montreal
d advances in sugar and whisky, due Ia i
rih changes, are additional factors L
lcbec city -hoc manufacturers are doing
good business. Nova Scotia and New
report % fair volume Of trade
Il Newfoundland a successful seal fish.
:. Bank clcarings at Winnipeg. Hnmil.
!, Toronto, Montreal aud Halifax equal
], ,li2, 900 this week, a gain of about 10
cent over last week.
The total of 21 business failures IN Can.
! this week l. contrasted with 30 last
FIX.
II