The Providence news. (Providence [R.I.]) 1891-1906, 1895-05-18
BUSINESS.
Money in Abundance Await
ing Demands.
Frost Busbear Observation-Disclosures
lures Giving Evidence Of Prosperity.

NEW YORK, May 1s.-R. g. Dus & Co.,
In their weekly review Of trade, say:
The severe cold snap-with extensive
frosts and In some states snow-has for
tunately done little damage to the great
crops, though much tn fruit, but has con
siderably retarded retail trade.
The best news Of the week Is the advance
Of 10 per cent in wages by the Carnegie
works, followed by the Jones Laughlin
establishment, and evidently implying
similar advance by many other concerns.
The Illinois Steel company Is starting Its
furnaces without granting the demands OF
employees
No advance has been found practicable
In the wooden mills, where conditions rs
TO prices and foreign competition are very
different and about 10000 workers are
still idle at Olneyvillc, X. l., where tho
works should consu ne 100000 pounds a
week In other departments OF labor,
troubles are not serious, and the demand
for manufactured products increases.
With material and steady enlargement
In domestic trade, there is still great want
OF employment In the interior for money
which comes hither, So, 800, 900 during the
past week, and with the millions distrib
uted by the syndica on bond account,
stimulates speculation.
Failures during the past week have been
Sl1, against 2l9 last year.
Wheat and Corn Advancing.
Accordingly, wheat has risen D cents,
although the reports OF injury 10y frost do
not appear, upon sitting, TO concern any
considerable proportion OF the growing
grain. Western receipts for two weeks Of
MAY have been 2,9l7 800 bushels, against
3,059, ,4si bushels, against 4,555, l0l last
year.
Corn has advanced u cent, though ap
parently injured more than wheat, but
the acreage gives promise of yield OF
1000, 900 900 bushels.
Cotton and Wool Markets.
Cotton is 1E cent stronger, In spite Of the
fact that 9,46l, ,0s1 bales had come into
sight Friday week, which is over 10000
bales more than the largest crop ever re-
corded. Northern spinners have taken q
little less than three years ago 20 date,
when the crop was over o, 900 900 bales, but
at least 900, 600 more than they have con
sumed as yet, and foreign spinners hold
nearly 800, 900 bales more than they have
consumed, while commercial stock here
and abroad are $4,000 bales more than
three years ago. Tho manufacture Is
prospering, though no one can suppose It's
consumption is quite at the maximum
and for the year it certainly has not been
Goods are In fair demand for the season,
and recent advances in price are fully
maintained.
Sales of wool continue remarkably
heavy; for the past week at the three chiel
markets 5,596,75 pounds, and for two
weeks of May l1,059, 750 pounds, against
1l,767, ,750 I'm the same week of 1892, tho
last year Of full demand. In that year thu
sales Of domestic were 5,e62, 900, and thii
year 5,6sl, ,750 pounds. The markets ar
quiet, almost unprecedented apathy pre-
vailing, because stocks of foreign wool
held here are remarkably large and are Of
fered at prices relatively lower than thos'
demanded by western growers.
Boots and Shoes.
The shoe manufacture Is doing remark
ably we'll, as usual, though operations fol
the future are materially retarded by th'
advances in leather and in hides, which
many begin TO think have gone somewhat
too far. Within the past two weeks th'
demand for shoes has somewhat dimin
ished.
Trade Improvement In Canada.
Bradstreet's says: Advices from the
province OF Ontario report some improve
ment, based on higher prices for staples
At Montreal, as at Toronto the business
outlook is favorable. In New Brunswic
collections are far from satisfactory.
Crop prospects in Nova Scotia are alsC
favorable.
There were % failures In business re
ported In Canada last week. Bank clear
Ings at Winnipeg. Hamilton, Toronto
IT. NO "A asfn n. Cas
this week, against Sal, 600 last week
$40, 732, 900 in the week year ago, hk
sum two years ago, and sis,806,0o0 in tn
third week OF April 1892