The Providence news. (Providence [R.I.]) 1891-1906, 1895-02-16
TRADE REVIEW.
Cheapness Of Food Products
and Industrial Restraint.
CurtaiIment Of Metal Output Bright
Anticipations for Spring Trade.

NEN lOhh, ICO lO-hs VI. -Sun q
Co.'S weekly review of trade says: Ex-
pcrts OF gold and Withdrawals from the
treasury have been almost entirely
stopped by the contract for purchases of
gold from Messrs Belmont and Morgan.
For the moment business only waits 20
know whether sales of American securi-
ties and Withdrawals of gold from the
treasury have been lastingly stopped by
the remarkable increase of confidence.
The two obstacles which block the path
Just now arc exceeding chespness of farm
products uni restricted operations in in
dustries There has been no gain in prices
of farm products on the whole.
Corn is nominally a cent higher, but
with au insignificant movement while
wheat is = cent lower for the week.
Cotton remains unchanged.
Few words tell the whole story: Tho
corn crop is undeniably short, though
probably much larger supply than Off
cial reports indicate; wheat and cotton
supplies are so fnr beyond the worlds de-
mands that extreme low prices are nat
ural, and any speculation for advance Is
greatly handicapped. Restricted pur
chases by the west and south naturally re-
suit.
Boots, shoes ana Leathers
Perhaps this influence is felt as much in
the boot and shoe industry as in any other,
for while only part, though large part,
!, of the various qualities has been advanced
I'm price, the distinct curtailment of orders
in others is especially obvious. Leather
continues strong in all grades and receipts
arc on the whole closely taken.
The Metal Markets.
The output OF pig iron Feb. ! was 167, ,20l
tons, against 165, Ala weekly Jan. /, but
the stocks remaining unsold are 7l8,073
tons, against 645, 45S Jan. ], and indicates a
decrease OF 16, 637 tons in actual consump-
tion weekly during the month of January.
Severe storms in February have further
curtailed production.
Sales of steel rails were only $50. 600 tons
in January, but there appears better in
qulry for some finished products, especi-
ally in wire, wire rods, nails and barbed
wire.
Pig iron Is unchanged in price here and
at the west, though northern sales are
pressed, and the demand for bar iron Is
about the same.
Lake copper Is quoted at O. 75 cents.
Cottons and wooIens Dali.
Continued dullness Is reported In cot
tons, and n reduction Of prices by tho
Amoskeag mills causes some hesitation
In the main the works are we'll employed,
but with extremely scanty profits and con-
siderable doubt whether market will bo
found for accommodating stock of some
goods.
Trade In woolens Is by no means salts.
factory. though fairly large in volume In
mediums nnd low grades, but prices have
been generally reduced, and competition
with cheap foreign goods Is felt somewhat
more. Sales Of wool continue within
about sixth of q weeks normal supply
for eastern mills, amounting to 506S, 400
pounds, of which 1896, 600 were domestic
Fine fleece is not stronger and sales of
Ohio Xxx are quoted at 1917 cents.
Decrease In Failures.
Failures for tho week were 270 in the
United States against 823 last year.
Canadian Merchants Hopeful.
Bradstreet's review says: More moder.
ate weather In the province of Ontario has
stimulated better feeling among mer-
chants there, and antlcipations are bright
as to the outlook for spring trade The
like Is true nc Montreal, with the excep-
tion that less stress is placed on the proba-
bility AS TO the future of business
In Nova Scotia general trade has been
unsettled by the character of the weather.
Bank clearances at Winnipeg, Hamil-
ton, Montreal and Halifax aggregate
sI5.563 900 this week, compared with Sl9,-
$50, 900 a week ago. and with Sl5, l67, 600 q
year ago.
The total number of business failures
reported from the Dominion in the past
week Is 80, compared with 5l last week, AZ
In the week year ago, and A two years
ago