Evening journal., 1895-02-16
GOLD TIDE TURNED.
Increased Confidence Result, In Che Bust
ness World.

Increased Confidence Results In Che nusi-
ness World.
NEW York. Feb l6-R. O. Dun &
Co s weekly reviow Of trajo says today
Another week export OF gold and with
driwals from The treasury have been nj
must entirely stopped by ihe contract FOR
pu ohases of gold ON Ness g. Belmont
and Morgan. Though its do'ails ONLY ho
came public Thursday and wero quite
sharply criticised by many, The inct should
not bo forgotten that tho rate OF exchange
was in fact controlled gold WAS actually
started hitherwaid from Europe, and there
was entirely arrested at lcast thus far
the outward movement which had seemed
within iS hours Of emptying the treasury
Close criticism Of things done IN suoh %
stress comes later to the moment husi-
ness only waits TO know whether sales OF
American securities ard Withdrawals OF
gold from the treasury have been lasting
ly stopped by the remarkable increase Of
confidence
The transactions with foreign bankers
could not put into tho treasury a 'nreor
revenue, which is still falling behind ex-
pondituros, for February thus far Si058,
SOP. While tho imports Of merchhndis. at
Now York for two weeks have been 80 per
cent larger in volume than last year, they
are much behind those of two years ago,
and the customs revenue averages 30 per
cont less. The revlving confidence has
not only prevented Withdrawals Of gold by
Americans I'm the main, but sales of Amer
lean securities by foreigners have beon
nearly ii not quite balanced by purchases
The two obstacles which block the path
| just now arc exceeding cheapne8s OF
farm products and restricted operations In
the industries. There has boon no gain
in prices OF farm products on the whole.
Corn is nominally half cent higher but
with an insignificant movement, while
wheat also. with movement hardly half
of last years Is q quarter of cent lower
/ for tho week. Cotton. with continuing
largo receipts. remains unchanged. Few
words tell tho story. The corn crop is un-
l deniably short. though probably q much
larror supply than official reports Indicate
| Wheat and cotton supplies are SO FAR bo
l yond the worlds demands that extreme
low prices are natural, and any spocula
tion for advance is greatly handicapped
Restricted purchases by tho west ant
south naturally result
| Perhaps this influence is felt as muc,
| in the boot and shoe industry as in any
other. for while only a part, though 9
| large part, of the various qualities hai
heon advanced in price, the distinct cur
| tailmont Of orders in others Is especially
| observed.
Eetwccn this shrinkage and that which
results from refusal of iobners to pay AL
vancol prices for other goods quite mum
Der of factories have boon closed, and 9th
ers are running part time, comparativei.
few having orders for thoir full forces.
| Continued dullnoss is reported in cot
tons and reduction OF prices by tn
| Amoskeag mills causes some hesitation
In the main tho works are well employ
ed. but with extremely scanty profits an
considerable doubt whether o market Wi
bo found for accommodating stocks Of som
goods Trado in woolons is by no mean
satisfactory though fairly large in vo
ume IN medium and low grades but pric,
have been generally reduced. and comy'
tition with cheap foreign goods is fe
somewhat moro.