The record-union., 1895-10-12
REVIEW OF TRADE.
UNCERTAINTY ABOUT THE NEAR
FUTURE OF INDUSTRIES.
The Price Barometer Gives Indica-
tions That Are Not Entirely
Favorable.

NEW YORK, Oct. 1.-R, q. Dun d Co.,
in their weekly review of trade to-mor-
row, will say: The price barometer gives
indications that are not entirely favora-
ole. Cotton goods go up with increas
ing evidence that the crop of cotton is
short. Prices of other manufactured
products of wool, hides and leather all
show some decline, a general abatement
in new orders being the principal cause.
With an immense volume of business,
not much exceeded in the largest month
of the exceptional year 1892, and with
evidence that in several important
branches the volume has exceeded that of
any previous year, there Is a growing
uncertainty about the near future of in
dustries. The money markets are neither
strained nor threatening; foreign ex-
change no longer raises apprehension,
and all fear about the Great Northern
crops are past. There have been few ad-
vances in wages OF labor within the past
month and only few works have been
closed by strikes for an advance.
The main cause of the decreased orders
has been repeatedly pointed out by this
journal during the past half-year. When
business began TO revive million traders
were in haste to order not only the goods
each expected to sell within given time,
but enough to replenish stocks which had
been cut down almost to bare shelves by
two years OF prOstratIon. Thus. the buy
ing was much in excess OF real consump-
ton within the given time. Also, as the
prices rose, many fastened to buy in ad-
vance of visible needs, hoping that every
purchase would mean gain, while multi
tudes hurried TO get in their orders before
competitors could buy as cheaply. Under
such conditions. buying continued for six
months aud still continues in cotton
goods, which have risen less than mate
rial. But in most manufactured products,
buying, for the same reason, can no
longer be expected, and the steady and
regular consumption Is not yet known.
In woolen manufactures a demand for
dress goods and some specialtles keeps
many fully employed, but most of the
works making mems woolens, for which
orders are scanty, find not enough to
keep them running. To pile goods up IN
ad vance wholly in the dark as to- future
foreign competition involves such risk
that some concerns may close for a time.
1t is too early for cotton movements TO
cast much light on the probable yield.
Port receipts thus far, Z3 per cent. smaller
than last year, do not indicate small a
crop as many fear in view OF the known
lateness of picking. Widely circulated
adyiceS TO hold back cotton have some
influence also. AT present prices average
SIC in Southern markets, against 5fc a
year ago. Seven million bales would
bring Sl3, 100000 more than 8, 100000 bales
brought last year. Some months ago
Dtt1e'S ReUielO predicted that 1900, 900
bales of American cotton would be car
ried over, and was much criticised by
some. Mr.. Ellison, the financial Euro
pean authority, shows that 2.977. 900 bales
were held September lst in ports and at
mills here and abroad.
Wheat receipts have been 1851 ,474
bushels, against 1850, Isl last year. and
Atlantic exports only l.707,629 bushels
(hour included). against l,99S, ,7S6 last
wear. The movement at Duluth Is SO
heavy as to absorb vessels and almost ar
rest ore shipments.
Failures Tor the week have included
two banks and several concerns OF some
size, and have been 26S in the United
States, against 23l last year, and 80 in
Canada. against 43 last year.
BUSINESS MODERATELY GOOD ON THIS
COAST.
New YORK, Oct. u.--BrddStreefs to-
morrow will say: Cool weather has
stimulated q seasonable demand for
stable dry goods, millinery and clothing,
and iobbers in these lines in all parts of
the country feel the Improvement. Rela-
lively more gain has been made at the
South, WDero an III pIOFOiu6uL Is reported
in almost all lines.
Exports of wheat flour included as
wheat) from both coasts of the United
States this week amount to 2,244, 900
bushels. compared with 2,6l3, 600 bushels
last week, 3,3l7, ,009 bushels in the week
year ago, =, S62, 900 bushels two years ago,
and with 3,625,000 bushels three years
ago.
Throughout the West cooler weather
has caused general improvement among
lobbers in staples, which is most con-
spicuous at Chicago, st. Louis and Kan
sas City.
Iowa farmers are not shipping products
freely, which tends to check business
somewhat at distributing points in that
State. The business done by st. Paul,
Minneapolis and Duluth jobbers is not
likely TO be rivaled until the country
ranks are broken.
ON the Pacific Coast general business is
moderately favorable, with Improvement
particularly specified at Seattle. Cargoes
OF tea and silk from Uongkong and
Yokohama, aggregating l00. 900 tons, have
arrived at Tacoma. California reports the
vintage there the best for many years. At
Portland general trade is fair, with the
demand for dry goods and furniture most
active.