The Providence news. (Providence [R.I.]) 1891-1906, 1896-11-07
Confidence Of Business
World Restored.
There Has Been Great En-
cOuragement Abroad.
A Remarkable Stimulation of Trade
In Every Quarter.

New York. Nov. 7-R. @. Dun e. Co.
In their weekly review OF trade. say: A
great revolution has been effected this
week In the conditions which control busi-
ness. IL cannot be in any fair degree
renected as yet In transactions or In rec
ords. out there Is ample evidence already
that crushing weight has been lifted
and rolled away, and the business worI1
mas begun to adjust itself to a state OF
freedom and security which II has not
known Tor years Records OF the past
week could not be expected to show i'm
provements in the volume of business
90 crossed was the country with a
poitsal contest that Saturday was al
most holiday at many oities, as well as
Iuesday, and clearings showed a de-
erease Oh lob per cent. compared with
last year ana 1879 per cent compared with
1892. IL was only Strictly logical that
wheat advanced cents. reaching s.
cents for November and IS for Decem-
ber. and heavy realizing of praits showed
perception OF the fact A ,towing dis
position aprears among farmers TO hold
wheat for better prices than are now real :
lied. although at present any advance
checks buyisg for export Speculation
that mills would not start up. as many
have done, ard wouN meet large de-
mand for goods But the advance was
met by realizing sales and a slight re-
action. II will be all the better for bust
ness II bright hopes DO not hoist prices
too fast
The evil effects OF a speculative rise In
materials are already seen In restricted
purchases OF boots and shoes, resulting
from the small advance in prices, which
mas made no progress the past . eek, but
was caused by rise of IA per cent in
leather. Behind that is the speculative
rise or over ~ per cent In hides since the
nrst week In September, for which no
valid excuse appears. The rise this week
at Chicago extended TO nearly all grales
or packer and country hides. The cleo
ton stirened prices Of pig iron, which
reached sl2 at Pittsburg for Bessemer,
and the certainty that many large or
ders for buildings and bridges and other
finished forms would now become opera
tive, Justifies some advance.
The billet pool. which is still openly
Incersold at Pittsburg. and has caused
no end of disturbance in business, by
favoring one class of producers to the
cetriment OF another, has been in ses-
sion here, and is said TO have changed it's
oasis of allotment. so as TO secure fairer
results The nail combination is now
threatened with a hostile league Of job
bers and producers. and is openly un-
Gersold
"A slight advance In shetings and print
cloths Is the only change which yet ap-
pears in the market for cotton goods,
and practically no change has vet an
peared In woolens. but the reported pur-
chases OF wool, including one OF II, ,000.-
600 pounds of tarritory, said to have been
made by a syndicate. amounted to 1S.-
$4,000 pounds. against 5.62l ,350 last year,
and s,2l5.000 In 1892. The average OF
prices rose about a cent in October, and
since Sept l, l0i quotations, by Coates
Bros, have risen from 12.l6 to 1922
cents, or 6S per cent
Failures for the week have been $50
In the United States. against ESQ last
year and 81 in Canada. against 40 last
year.