The news & observer., 1896-12-25
BRAOyTnEET BHDDUf
Business More Unsatisfactory
Than for Many Years.
REVIVAL DISAPPOINTING
In Cotton Manufacture Taklngs
Disappointingly Light.
MONTH CLOSES uNFAvoRABLY
General Discharge of Hands or Re
duction of Wages i'm Shoe Manu-
facture--Failures of Banks
= Unsettles Confidence.

facture--Failures of Banks
Unsettles Confidence.
New York, Dec pr. G. Dun and
Company's weekly review of trade to-
morrow will say:
The failure of two important banks,
the second in size of business at Chicago
and the Oldest at St Paul, with some
others dependent on them, closes not
favorably month which promised to
end with only moderate commercial dis
asters. Other important events Of the
week are the failure OF the Billet and
Rail pools to find basis for agreement
and the somewhat general discharge OF
handssor reduction of wages in the shoe
manufacture. The holiday trade has
been fair, but generally in articles of
medium grade.
In the cotton manufacture there is
further decline in some staple goods and
takings by northern spinners are disap-
pointingly light. Print cloths accumu-
late and do not advance. Raw cotton
comes forward just as it did in other
injury ended in great crops. Sales of
wool are restricted by the general convic-
ton that prices asked by interior hold
ers cannot be realized and there is con-
siderable disposition to unload specu-
latiye purchases at Seaboard markets.
Most manufacturers have more wool than
they have orders and others meet as
yet no satisfactory demand for goods.
CoIa - ,Js.
at the three chief markets, against 81
800 for the same week last year.
Failures for the week have been 297 in
the United States, against 322 last year
and Al in Canada against 40 last year.
The aggregate of gross earnings of all
railroads in the United States represent
ing for the first half of December or
part thereof, is $12,017,126, decrease
of 4.5 per cent, compared with last year
and Of 11.4 per cent, compared with the
corresponding time of 1892, the latest
period Of ordinary business prosperity
with which comparisons can now be
made. or sections of the country in
which representative roads have report
ed, western roads, including the gran
gers, make the most favorable showing.
Southern and southwestern roads report
a small loss. In the other groups reports
are as yet incomplete. All classes OF
roads report a decrease compared with
both years with which comparison is
made. Traffic on all roads has been
far from satisfactory for several months
and as yet there is little indication Of
Improvement, but the heavy losses I'M
gross earnings reported by many roads is
not entirely due to loss Of traffic The
falling off in traffic has been greatest in
the high class freights and the loss ia
gross earnings is consequently relatively
larger than the loss in traffic.
BRADSTREETS REVIEW.
New York, Dec 24.-Bradstreets to-
morrow win say:
The arrival of the holidays, the close
Of the year and the period of annual
stock taking have further checked the
volume of wholesale business Only fill
ing-in orders are being received and
trade is slow. Retail demand for holiday
goods has been active, but it is for cheap
er grades than in previous years. In
other lines the distribution of merchan-
die has been smaller at a number Of
distributing centres. Failures Of impor-
tant banking institutions at northwest
ern cities tend to unsettle confidence in
commercial and banking circles. Very
fey statesmen remain ON the road, but
most OF them are preparing to go out
within fortnight.
The moderate trade revival which fol-
lowed the last presidential election has
been disappointing, in that aside from
the Christmas demand business has been
more unsatisfactory for month past
than at corresponding period in many
years.
Freer receipts of cotton tend to en-
courage high crop views and account for
the reaction in price. Lard and petro-
lem are also lower.
Exports of wheat, flour included as
wheaD from both coasts of the United
States this week, amount to 2,111.702
bushels against 3,524 900 last week, g.
457 900 bushels in the week year ago;
1914, 900 bushels in the week two years
ago, 100000 bushels three years ago
and as compared with 2,917, 900 bushels.
IN the corresponding period of 1892 Ex-
ports Of Indian corn this week hold up
Well, the total amounting to 3,179,0O0
bushels as compared with 2,S14,O00 bush
els last week, $4,000 bushels in the
week one year ago and with very much
smaller totals in like weeks in three pre-
ceding years.