The evening tribune. (Pawtucket, R.I.) 189?-190?, 1896-12-26
REVIEW Of BUSINESS.
Northwestern Bank Failures Unsettle
Confidence In Commercial Circles.
Alter Election Trade Revival
Was Disappointing.
massachusetts, Mills Have Booked Fair
Spring Orders.

New York. Dec. 26.-Bradstreet's says
The arrival of the holidays, the close OF
the year and the period OF annual stock
taking have further checked the voi-
ume of Wholesale business. Only filling
In orders are being received. and trade
IL slow. Retail demand for holiday
goods has been active, but 1t Is for
cheaper grades than In previous years.
In other lines the distribution OF mer-
chandise has been smaller at number
OF distributing centers. Failures OF inn
portant banking institutions at north
western cilies tend TO unsettle confidence
In commercial and banking circles.
Very few statesmen remain on the
road, but most Of them are preparing
to go out within a fortnight.
The moderate trade which followed the
last presidential election has been dis
appointing, in that aside fromthe Christ
mas demand. business has been more
unsatisfactory for a month than in
corresponding period in many years.
The confidence with which merchants
and manufacturers have been looking
forward to the arrival of delayed trade
revival early in February next is less
pronounced than II was, while the pros
pect for legislation next spring and sum-
mer looking to tariff revision and con-
gressional Anxiety TO take charge of
affairs abroad is more than likely TO
put off a permanent revival in business
here until next fall.
The shake up in the iron and steel
prices Is nearly complete. and quotations
for bessemer pig iron and for steel billets
II ..f 4l....k
for other staples. The break last week
precipitated speculation in bessemer
pig iron and billets and large purchases
for an advance and for consumption
have been made-more than 100000 tons
OF billets-some Of ii as low as SIS, a
drop of S. a ton. The billet pool has been
patched up nominally. Bessemer pig.
which went off to $f0.50 on the break
and on the prospect of a readjustment
OF costs, is firmer, and has sold at $l1.
Anxiety is felt in the iron and steel
trade as to the uncertainty Of the price
of lake ore under the new combination
to control that staple. A Pittsburg
concern is shipping 2o00 tons Of sheet
bars to the United Kingdom, and south
ern pig iron furnaces report further
sales in England. Sheet and tin plate
bars have sold down TO $16.50l Rails
are firm at $25, but that does not show
the shrinkage suffered by billets. Freer
receipts of cotton tend to encourage high
crop views and account for the reaction
I'm price. Lard and petroleum are also
lower. Unchanged quotations are re-
ported for wheat. -four. sugar, pork and
coffee, as well as for print cloths, al
though heavy stocks OF the latter ara
having a depressing effect on the mar
ket, and are likely 10 cause a restriction
of output in the near future Prices
for hides are higher as are those for
wheat, corn and oats. On the Pacific
coast the principal activity in COM
mercial lines appears to be in exports
of wheat and -four together with general
merchandise to Japan and Central
America.
Manufacturers OF wool have not opened
heavy weight samples yet and are not
inclined to buy raw materials except to
fill orders in hand. Some Massachu-
setts mills have booked fair spring or
ders, but the industry in Rhode Island
does not appear to be,so well situated,
and two large mills expect to shut down
soon. There are 327 business failures re-
ported throughout the United States
during this week, 80 less than last week,
week year ago
Exports Of wheat ffiour included as
wheat) from both coasts Of the United
States this week amount to 2,111, ,702
bushels, against 3,524,0O0 bushels last
week, 3,437, 900 bushels In the week
yea- ago, 1,S140O0 bushels in the week
two years ago. 2.036. 900 bushels three
years ago. and as compared with 2,917,
OUO bushels in the corresponding period
OF 1892. Exports of Indian corn this
week hold up well, the total amounting
to 3157, 900 bushels. as compared with
2s1f0O0 bushels last week, 1888, 900
bushels in the week one year ago, and
very much smaller totals in the same
weeks in three preceding years.
Veterans Spar.
Philadelphia, Dec. 26.--The two veter-
ans of the pugilistic world. Billy Mo
Lean OF this city and Jem Mace. the re-
tired champion Of the world, met In four
friendly rounds last night at the Art
Athletic club before a good-sized audi
ence Each on his entrance into the
ring was given rousing reception. and
despite Mace's 6S years and Mol ans
63, put up a pretty fight. Each round
lasted about two minutes. During the
bout Mace exhibited soms Of S.ie rapid
left hand hitting that distinguished him
in other days. Mclean startei some
fast fighting in the last round, and
both men were warming up in great
shape when time was called. .and,Heferes
Ryan announced draw.