The Providence news. (Providence [R.I.]) 1891-1906, 1896-12-26
A BAD ENDING
For Month That Promised
Better Results.
Dun'S Review Shows Holiday
Trade Was Only Fair.
Shoe Factories in the City Of Lynn
Close as Was Expected.

New York, Dec. 26-R. G. Dun & Co..
In their weekly review Of trade, 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 disasters.
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 hands
or reduction Of wages IN the shoe man
ufacture. The holiday trade has been
fair, but generally in articles OF medium
grade.
The fall in steel biliets from over 500
TO about SIG at Pittsburg. and In steel
rails from S2S net for mills to $25. less
brokers' commissions, produces so great
a change I'm other prices and conditions
of business that the meeting held here
this week. for the purpose OF revivng
pools and fixing prices. influenced opera
tions throughout the country. But no
agreement was reached. and meanwhile
contracts have been made covering the
wants Of most producers for three
months. and some for the whole of the
contracts have been made at SIS at Pitts
burg and s17 90 at the east.
The closing OF shops and discharge Of
hands In the shoe business. especially
ct Lynn, has been plainly foreshadowed
by the weekly report. showing for some
time scarcely any new orders received.
Jobbers claim that they cannot get the
advanced prices demanded. manufac-
al i'm shoes
with present prices of lelather and wages
for labor unless they receive even more
than the advanced asked. and the work
ingmen quite generally claim that this
Is only a pretext 10 secure reduction OF
wages. Leather does not yield much.
though one or two minor grades are a
little lower. Hides are stronger at Chi
cego, and tanners are confident that
prices of leather will be held. In the cot
ten manufacture there is further decline
I'm some staple goods. and takings by
northern spinners are disappointingly
light. Print cloths accumulate and do
not advance. Raw cotton comes forward
Just as IL did In other years when official
and other stories Of injury ended In
greater crops Sales OF wool are re-
stricted by the general conviction that
prices asked by interior holders cannot
be realized and there Is considerable
disposition to unload speculative pur-
chases at scabOard markets. Most
manufacturers have more wool than
they have orders, and others meet as yet
no satisfactory demand for goods. Sales
of wool were only 1853, 900 pounds at the
three chief markets. against 5,s24,3vl
for the same week Last year.
Wheat has grown little stronger, In
spite of the disturbance of the Chicago
market. Exports have been l,47l,44s
bushels, -four included, for five days,
ard $780,. .5e7 for four weeks. agains:
S,527, ,e5e for the same weeks last year,
while from Pacific ports the increase has
| been large. Western receipts are still
small. amounting TO S.455.631 bushels In
| three weeks of the north, against a.
| s44,s59 last year. The volume Of busi-
ness, all branches considered. is moi
! large.
Failures for the week have been 297 In
| the United States, against 322 last year
| and "a f. Canada, against 20 last year.