Waterbury evening Democrat. [volume] (Waterbury, Conn.) 1887-1895, 1895-02-16
GOLD TIDE TURNED.
Increased Confidence Results In thc Bust
ness World.

New YoRK, Feb l6-R q. Dun X
Co s weekly review of trade says today;
Another week export of gold and with
irawals from the treasury have been al
most entirely stopped 10y the contract for
puG chAses of gold fIom MessTs. Belmont
and Morgan. Though its de:ails only be-
came public Thursday and were quite
sharply criticised by many, the fact should
not be forgotten that the rate o. exchange
was in fact controlled, gold was actually
Started hitherward from Europe. and there
was entirely arrested, at least thus far,
the outward movement which had seemed
within IS hours of emptying the treasury.
Close criticism of things done in such a
stress comes later FOt the moment bust
ness only waits TO know whether sales of
American securities and Withdrawals of
gold from the treasury have been lasting
" stopped by the remarkable increase of
confidence.
The transactions with foreign bankers
could not put into the treasury a larger
revenue, which is still falling lehind ex.
penditures, TO- February thus far 81, 953.
592 While the imports Of merchandise at
New York for two weeks have been 80 per
cent larger in volume than lest year, they
are much behind those Of two years age,
and the customs revenue aVerag,S 30 per
cent less The revlving confidence has
not only prevented Withdrawals of gold by
Americans in the main. but sa' es OF Amer
lean securities by foreigners have been
nearly if not quite balanced by purchases,
The two obstacles which block the path
just now are exceeding chCapness of
farm products and Iestric: ed operations in
the industries. There has been no gain
in prices of farm products ON the whole.
Corn Is nominally half n cent higher. but
tel act Nvhi
wheat also with mN ement hardly half
of last years is quarter of a cent lower
for the week. Cotton, with continuing
large receipts, remains unchanged. Few
words tell the story. The corn crop is un-
deniably short though probably II much
larger supply than official reports indicate
Wheat and cotton supplies are so far be
yond the worlds demands that extreme
low PRICES are natural. and any spccula-
ton for adv Vance is greatly handicapped
Restricted purchases hy the west and
south naturally esult.
Perhaps this influence is felt as much
in the boot and shoe industry as in any
other. for while only part, though a
large part, of the various qualities has
been advanced in price. the distinct cur
tailment Of orders in Others Is especially
| observed.
Eetween this shrinkaGo and that which
results from refusal of iobEers to pay ad-
! vancei prices for other goods quito n num-
| Der OF factories haJ G been closed, and 9th
ers are running part time, comparatively
few having orders for theiRSull forces.
Continued dullness is reported in cot
! tons, f<d- n reduction OF prices by the
! AmoskcGg mills cau,Cs some hesitation.
| In the main. the works are we'll employ
ed, bu; with extremely scanty profits and
considera) le doubt whether a market will
be found for accommodating stocks of some
I goods Trade in wOolens is by no mean,
satisfactory. though fairly large in vol
ume III medium and low grades but prices
have boon generally reduced, and come
tition with cheap foreign goods is fell
! somewhat more.