The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-26
ABOUT BUSINESS
Impediments Tend to Make
Outlook Gloomy.
Summary Of The IndustriaIs Cereals
and Cotton Touching Bottom.

weekly review of trade has this to say
the business outlook:
Events have not helped business this
week. Industries have not yet found sufii-
Client demand for their products TO pre-
vent further decline in prices, and this
week the average for all commodities has
again touched the lowest point ever
known.
The number of hands employed does not
Increase, and a strike has cut off for more
than week about half the business of
Brooklyn.
Congress has done nothing to replenish
tho treasury. and variety OF financial
doctors, each Offering his remedy, does not
promise health for the patient. Another
offer Of bonds, under the old law and ex-
isting circumstances might result unsat-
1sfactorily
At bottom, business hcsitatcs because
the future Is clouded, and the consuming
demand has not increased in January, MS
was expected. In the belief that IL would,
industries had enlarged production, and,
until 1t does, the excess OF the producing
oopacity constantly tends to depress prices
The Metal Markets.
In iron and steel, weakness is seen at
quoted at sll So and plates at si.30, and at
pittsburg gray forge is quoted at 90. .i5 and
wire rails at IS cents. A better demand
appears for bars at Plttsburg. but at Chr
cago they are unexpectedly dull. No trans
actions In rails are reported, and in gen.
eral the demand for finished products Is
considered disappointing. The anthracite
coal trnfiic is again much disorganized.
The minor metals are shade stronger,
but tinplates arc n fraction lower with
considerable business.
Boot and Shoe Trade Dull.
In boots and shoes the narrowDess OF
the consuming demand is felt in quail
titles for which prices have not been ad-
vanced, and jobbers generally refrain
from orders, at the prices asked, on
the ground that consumption is below
expectations, and would materially sink
AZ they would ask more. Some fac
tories have already stopped, others
are running part time, with orders
nearly finished, and comparatively few
have orders for month longer. Leather
Il very firm, though not active.
Brighter Outlook For wooIens.
Honvy safes OF wool, 65J7,1o pounds.
against o. 661. 800 two years ago. are in part
the result OF growing confidence among
manufacturers that they will be able to
meet foreign competition. and In part be.
cause prices are not thought likely to
go lower, SO that some have purchased be-
yond thcir orders for goods. The market
is broader, about half the sales being OF
territory wool for mixture with Aus
tralian. Carpet mills are conservative,
some having sustained losses last year.
Receipts Of foreign wool arc large and
holders are pushing to sell Openings OF
additional l4Hes OF mems woolens indicate
general reduction of 4 TO 10 per cent in
price from last year, but quotations are
unstable, further changes being looked
for both In domestic aud foreign goods.
Duplicate orders for light weights are not
equal to expectations, though for many
works they come too late and are refused.
Low Prices For Cottons.
Tho demand for cotton goods has been
staggered by successive reductions in
various lines, ginghams having been es-
pccially depressed, but the demand is still
very narrow. Print cloths sold moderately
At AZ cents, the lowest quotation on
record, but have been lifted shade by
speculation. Even with cotton at almost
tho lowest point. sales to spinncrs are re-
Gtricted-
Cotton barely escapes the lowest point
on record. with receipts from plantations
nearly $4,000 bales larger than at the
salne date last year, when the crop was
over 9, ZOO o0o bales and stocks of American
here and abroad 800, 600 bales.
Decline In Food Products-
Wheat has sold at the lowest point ever
known for the May option, and spot has
declined cents for the week, liquidation
OF the immense holdings OK the Fair es.
tate being rumorcd. For most people the
great visible supply and the pressure OF
quantities carried for speculation In elc-
vators Justify extreme low prices, as there
is nothing as yet to indicate material de-
crease In tho next crop.
Corn hns declined 2H cents, though re-
ceipis arc shrinking.
Liquidation III pork has brought a sharp
decline.
Business Failures.
Failures this week have been 363 in the
United States, against 43O last year, and
20 In C-.nada, against So last year.