The herald., 1895-07-20
THE RETURN OF PROSPERITY

OuT morning COnteH nOTaTv, tuo LINES,
has just made the discovery that "a more
cheerful tone permeates most of our eastern
exchanges, which come to us with the
prophecy of better times for the whole
country, ana the hoepful assurance OF
general revival of bushes S." Several
weeks ago The Herald called attention TO
the revival of business throughout the
east. and such an admission on the part
of the Times is better to have come even
at this late day than not at all.
The revival of business has gradually
spread from one branch of trade to an
other until now all the wheels of COM
merce are revolving fairly smoothly and
swiftly. That the wounds of the panic of
'93 have been healed and the country is
now in a healthful and prosperous con-
dition is clearly proved by careful scru-
tiny of Dun's Review for the week end
ing July 18th. In reporting the con-
dition of business in the iron and steel
trades Dun's Review says:
The capacity of furnaces in blast July
1st was Ill, 1914 tons weekly against 157, 2N
on the 1st of June, an increase of IS. $40
tons. This marked advance brings the
output up quite near to that of May, 1893,
which was 1S1, 551 weekly. In addition
there has been great decrease in unsold
stocks, which have been reduced 104, 750
tons to 543. 3S2 tons July 1st. but this
statement does not include the stock held
by the large steel companies, which
have been buying heavily to supply
future wants. Prices are still advancing.
and the demands for structural iron -
surpass expectations. Influenced by the
recent advance. builders and traders are
anxious to get in their contracts. Ore
and coke are also firm and advances are
expected.
In the following report OF the boot and
shoe trade it should be borne in mind
that the shoe trade goes by seasons, and
this is now the close of what is known
as the fall trade" and this accounts for
the discharge of cutters reported.
Taken as whole the report shows
that the eastern shoe manufacturers are
closing prosperous season:
Shipments from Boston for the week.
according to the Shoe and Leather Re-
porter, have been $3.50 cases, against
6.. O69 last year. The movement continues
larger than in any previous year, for two
weeks amounting to 191, 120 cases, against
167, 326 in 1892. New orders have mater
tally decreased. SO that some manufac-
turers have been uscharging cutters.
While a great many can operate until
September on orders received, others are
near the end.
The following report of the wool trade
only bears out the condition OF affairs as
outlined in this column yesterday. Space
will not permit of giving the report in
full, but the following extract will show
that the Wilson bill has not quite killed
the wool trade:
Once more the sales far exceed the ac-
tual consumption of mills, amounting for
the week to -, IA, 600. against 6,6G5, 100
for the same week in 1899. In two weeks
past the sales have been 16 SS5, l09
pounds domestic and 9,615, 005 foreign,
against 6.665, 100 domestic and 1921, 450
foreign IN the same weeks of 1899. Ohio
Xxx is quoted at IS to 10 cents, and Ohio
delane at 20 cents, with fine unwashed
at II to 13 cents. Dealings in territory
wool have been much larger. but at New
York the supply # domestic is made
quate, and most of the business has been
in the finer foreign wools.
Of the dry goods trade one may learn
what the conditions are in that industry
from the statement in Dun's Review
that "The II. B. Clahin Co.'s statement
for the first six months of the year shows |
net profits of $25i, 697, or nearly $12, 900 !
more than for the corresponding period |,
last year"
The delay on the part of the Times in
failing to notice such little thing as !
the return of prosperity is due to one of |
two reasons, viz. either an unwilling |
ness TO admit it, or that the stad editor |
had to take time to figure oft a reason for !
it that would fit his political faith.
Evidently it was the latter, fo1 he says:
"The Republican victories that have been
assured in recent elections show that |
the tide of political sentiment is turning |
in the right direction" 1t must have |
taken weeks of quiet seclusion to have |
evolved such Il conclusion, and it will take |
more weeks of hard thinking to prove |
that such is the case.
1t will be noticed that the most marked
increase OF business has been in the |
trades in which the reductions in tariff |
under the Wilson bill was a marked de-
parture from the operations of the Nc
Kinley bill. Just how the Republican
victories spoken of by the editor of the |
Times has had the effect of stimulating |
trade under the Wilson bill we will have |
to ask the clever editorial writer on the
Times to explain.