The Providence news. (Providence [R.I.]) 1891-1906, 1896-02-08
NOW FORA BOOM
Confidence In Uncle Sans Finances
Will Stimulate Trade.
UNLOCKING OF MILLIONS IN GOLD
Bound to Result IN a Revolution
In Business.

New YORK, Feb. s.-R. G.. Dun g. Co.'S
weekly review of trade says: The won.
derful success of the popular loan alters
the face of events. January operations
become. ancient history, as the nation
mounts above all doubts and fears to u
solid certainty that the people can and
will uphold their government. With
e56s, O00, 900 bid by 1900 banks or persons,
the tremendous strength Of the national
credit Is demonstrated AS 1t hos not been
before for many years.
The influence of this event upon all
manufacturing and all trade cannot he
lightly estimated. 1t notifies foreign nj,
tions that the United States has power
as we'll as purposes. 1t unlocks millions
of gold which have been gathered In prep.
a~ration, brings directly several millions OF
gold from Europe, and stimulates the
anxiety Of foreign investors To obtain
American securities. With such a revolu-
ton in business suddenly effected, the
customary records Of the past week and
month are of less value thar usual.
But there nave been signs OF improve.
ment in the iron manufacture, although
the average of prices is nearly / per cent
lower this week, for\ orders have been
booked for nearly 800, 900 tons rails this
year, against total deliveries in 1895 OF
1000 600 tons, and orders for wire nails are
stimulated by IA decision to advance the
price again March /.
Speculation has raised copper to 1917
cents, with sales Of 5000, 900 pounds, and
tin Co 1917 cents, md lead to 3.10 cents,
with large exports of Mexican.
Bootsand Shoe Production Curtailed.
The boot and shoe manufacture does
not gain as yet, jobbers still waiting, and
retail distribution having been unusually
retarded, SO that the production is only
about two-thirds of the usual quantity.
Leather is about / per cent lower for the
week, and sales of 100000 sides hemlock
soles have been effected, mainly below
quotations.
Sales of wool have been 1864, 200 pounds,
against 5,la5, $50 last year, and $3.50, 7l5 in
1893, and with reported reduction I'm clay
wors.eds and mixtures. The orders for
other wooden goods are still unusually de-
layed.
The cotton mills continue generally
active, though talk Of decreasing produc-
ton still continues; print cloths do not
rise above 2A cents and some goods tend
lower.
Speculation In wheat has again lifted
have
been 2,sO0.9 07 bushels for the week, against
1881 bushels last year, n for the year
thus far 1867 ,695 bushels, against 6 o39,-
933 last year. Atlantic exports have been
increasing, though not in the same pro.
portion. amounting for the week, nour in
cluded, to 1855 $50 bushels, against l.45S,-
255 last year. Tn speculative market has
been largely Influenced by rumcrs of in
jury TO the coming crop and by foreign
adviccs, and prices advanced 81 cents for
cash and 29s cents for May.
Corn has been comparatively steady.
Cotton is practically unchanged, re-
ccipts continuing TO accord with a yield OF
about 1000 900 bales for 1895.
Failures for the week have been 3e3 in
the United States, against 2Sl last year,
and 63 in Canada, against 5S last year.