The evening tribune. (Pawtucket, R.I.) 189?-190?, 1897-03-27
PRICES TEND DOWNWARD.
THE CONDITION Of BUSINESS AS
REPORTED BY BRADSTREETS.
UnfavOrable Influences More Marked During
the Week-The Antitrust Decision.
-BraGstreets

| nave been more numerous. Leading
| money markets show no Improvement
Mercantile coiiectiCns continue slow, a.
heretofore. and the volume OF fund,
offered is in excess of demands for dis
counts. The tendency of investments
to improve has temporarily disappeared
under the influence OF the suprem.
court "anti-trust decision" which ap.
pa entity threatens arrangements for the
maintenance of railway rates, as well
as railway trades union activity, so far
as II may erect interstate commerce.
The tendency Of prices is downward
quotations being lower for wheat, In
dian corn. oats, coffee. cotton and for
pig iron and steel billets. on the outlook
for lower priced ore. Open sales OF
copper at recent privately cut quota
tions are due to disappointment i'm the
demand. Stormy weather. high water
and floods in the Ohio. Mississippi and
Missouri valleys and in the country
drained by tributary streams, have in
terfered with interior trade, and, In ad =
dition to loss of life. have damaged
country roads, houses. farms, bridges,
telegraph lines and railway tracks.
The gradual Increase in the number of
Industrial strikes is the outcome of a
movement to secure higher wages, and
In instances moderate advances have
been obtained. Staples for which prices
are higher include wool. raw sugar
wheat -four, petroleum, linseed oil and
turpentine. Prices are unchanged for
print cloths, refined sugar, lard and
pork. Recent activity in raw wool con
t,nues, and the prospect for an increased
tariff on imported woolens causes mer-
chants to purchase American goods
more freely. The movement Of cottons
Is not up to expectations. and in some
lines is disappointing. The most notice
able Improvement in trade is confined to
dry goods, hardware, leather, agricul-
tural implements and shoes.
Bank cleaiings at II cities through
out the United States are disappoint-
ing, the total being only 1888 .000. 900 for
the week, 6.6 per cent less than last
week. and IL per cent less than in the
like week one year ago. There is prac-
tically no change compared with the
last week In March, 1885, but as con-
trasted with the corresponding week
in 1894, when the volume of business
was at low ebb, this weeks total shows,
an increase OF 20 per cent, but as COM
Pared with like portions of 1893 and
1892. the decreases are q per cent and
e per cent respectively. Bear selling
and liquidation Of railroad securities
on large scale, with irregular breaks
In prices, followed the decision of the
supreme court in the trans Missouri
Traffice association case. Railroad au-
thorities interpret the decision as a
condemnation of all agree
ments to maintain transportation rates
Hopes are expressed that the decision
may be modified when the governments
appeal in the suit involving the Joint
Traffic associations legality comes be-
'ore the supreme court. and 1t is argued
that the possible general demoraliza-
ton of rates Will force congress to adopt
legislation authorizing pooling. The
trunk lines are continuing their organ
ization, but many Western roads have
withdrawn from the Western Traffic
and virtually suspended its
Liquidation in the stock
market now seems exhausted, and the
New York stock market is very irreg-
ular and sensitive under successive
bear selling and covering movements.
The Industrial stocks are relatively
reports of a new opposition refinery.
Coal stocks have been heavy, and Jer-
sey Central especially weak at first. fol-
lowed by covering of shorts and a re-
covery on reports that the dividend
will be maintained. or only slightly
reduced. Foreign exchange is higher
at 4.S7A and 4.S7is for demand sterling.
Exports of wheat (lour included as
wheaD from both coasts OF the United
States, and from st. John. n. b., this
week. amount to 1.T49.4I bushels. com
pared with l,62900o bushels last week,
l.744.000 bushels in the week year ago.
2,5G2. 900 bushels i'm the week two years
ago. 2,966,000 bushels three years ago.
and as Contrasted with 2,S75, 900
bushels in the like week OF
1893. Exports of Indian corn con-
tinue heavy, amounting To 5.S62. .6S1
bushels this week. against 5.939. 900 bush
els last week. 1.727 900 bushels I'm the
week year ago. 612, 600 bushels i'm the
week two years ago, l,66I 900 bushels
three years ago. and as compared with
Ga. 900 bushels i'm the same week of 1892.
The rate OF commercial mortality con
tinucs the decline shown in recent weeks.
the total number OF business failures
throughout the United States being 22l
this week. compared with 2Si last week.
30 in the Ike week In 1896. 232 In the
last week of March. 1895. 80 I'm the cor
responding portion of 1891. and as con
,rasteu' with 10 in the corresponding
pariod of 1895