The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-05-01
TRADE FAST FALLING OFF
LESS FAVORABLE CONDITIONS IN
IRON, STEEL AND COTTON.


New York. May I.-Bradstreet's says:
Most conspicuous features Of trade are
less satisfactory. including moderate re-
action in prices OF supplies. "A falling OF
la the volume OF transactions In various
lines. continued slow collections and less
favorable conditions in the iron. steel,
cotton and some other Industries.
There is less demand for staple vari.
cites of iron and steel. makers reporting
trouble in securing specifications for con-
tracts on hand. Southern pig iron has
secured lower rail rates to points west OF
Pittsburg and Buffalo. The outlook IL
FOR the shutting down of some furnaces
In the Pittsburg district. Sales OF wool
have declined sharply. but receipts of
foreign have brought up the weeks
movement To fair total. Nearly years
supply has been imported during the
first four months OF this year. The move
ment Of cotton goods is slow. and prices
are low. buyers purchasing in large lots
only where inducements are offered.
Woolen manufacturers are fairly well
supplied with orders and are inclined
to ask an advance on new business. The
three months restriction of output In
cotton goods has ended, and mills will
now run on full time.
General conditions in the Mississippi
valley have improved. except at the
South. where high waters are likely to
threaten for two or three weeks.
The prices movement furnishes little
{ basis for special encouragement. the only
advances on generally recognized con-
ditions being those for pork and cotton
Higher prices for woolens Is an effort to
antagonize the tariff. There is less To add
with respect to advances FOR coffee. pork
and resin. The reaction In wheat OF
nearly cents bushel Is due 10 the out.
look for an early termination OF the wal
In Europe. This carried down corn and
cats with II. Lard Is also lower, as Is
petroleum. Practically unchanged prices
are noted for print cloths. sugar, flour.
coal and lumber.
Bank clearings OF SS55, ,000, 900 this week
constitute a smaller total. a falling OF
of per cent, compared with last week.
There Ia a moderate increase In the
commercial death rate. there being 244
business failures throughout the United
States this week. compared with 216 last
week. 254 in the week one year ago, 206
two years ago, 179 three years ago, and
as contrasted with 24S In the last week
OF April. 1893.
The New York stock market Is cxces-
sively dull. and subject at the close OF the
week to bear raids, due to the exporta
tion of some $7.00000O in gold during the
week Agreements of bankers to avoid
shipment of specie. save at extreme ex
change rates. have proved unavailing
The change in the eastern situation
rallied European markets. but has
brought in no buying Of Americans .rom
that quarter. Under offers OF bills
against exports, foreign exchange has
weakened the rate for demand, sterling
being 4.S7is.
Reports of wheat (four included as
wheaD from both coasts OF the United
States amount to only 1,15s,SS6 bushels
this week. against 1,65i,O0 bushels last
week, 1,260,000 bushels in the week
year ago. 2,555, 900 bushels two years ago.
2,773,000 bushels three years ago. and as
compared with 2,776,000 bushels In the
like week in 1898. The current weeks
exports OF wheat (fiour includedD are
the smallest since the second week In
May 1891. Exports OF Indian corn have
also fallen off this week, amounting to
1861, 1865 bushels. against 4, ,169 900 bushels
last week, 2,1i2, 900 bushels in the week
year ago, 1.016,000 bushels two years ago,
$50. 900 bushels three years ago. and as
compared with 100000 bushels in the
like week OF 1892.
There is no particular Improvement in
trade at Montreal, notr,,tnstanilug the
promulgat..cc.. c- the new tariff. Csna-
dian manufacturers OF cigars. woolens.
barb wire and wire rails are reported
dissatisfied with new rates OF duty.