The herald., 1897-04-03

riages, furniture, iron, steel, glass ana
shipbuildIng. Depression stiil EXISTS
among some branches OF the wooieh
goods industry, In coal mining and cot
ton goods manufactures.
Bank clearings for March at eighty
two cities throughout the United states
show an increase of 1.8 per cent, COM
pared with March one year ago, the
first monthly increase over corres-
ponding total one year ago since April
!. 1886 The March gain over FEBRUARY
this year Is IA per cent, but the decrease
In the January total is 63 per cent Com
pared with March, 1895, March this year
shows gain OF more than per cent
and with March. 1894. 1t is nearly IL per
cent, but compared with March clearlnss
OF 1893, two months prior to the out-
break Of the panic. last months total
shows a failing off Of 22 per cent.
Bradstreets review of the stock mar
kat VIII say: After some further demoral-
ization in the early party OF the week.
due to exaggerated fears or rate cut
ting, as consequence of the transmits
souri, decision, stock values have on the
whole tended to recover. This was the
result of the fact that the railroad man
ayers, as q class, are behaving with great
conservat tism and refraining from cut
ting tariffs or any action that will dis
turb the situation. The decision OF the
western managers to retain their con-
tract agreement, not as a traffic asso-
citation, but as bureau of information
and of the trunk lines to continue their
joint traffic association, pending the re-
suit of the case involving its Legality,
both had very good effect. The prompt
Of a pooling bill In the SEN
ate also tended to restore confidence,
though the later reports makes 1t very
doubtful If action can be secured on
such a measure at this session of con-
gress. On the other hand the market
has had some unfavorable factors to con-
tend with. The European political sit
,uation has been very strained ana the
London market nervous and inclined to
do nothing while reports that war was
on the point of breaking out between
Greece and Turkey. though not verlned'
found temporary belief, with disturb
ing effect on prices.
The fact that the tariff bill, after be-
ing rapidly passed in the house, has
gone to the senate. where 1t will doubt
less meet with both delay ana
considerable change, also has a ten
dency to introduce the element of un-
certainty into business. which the stock
market cannot but regard. ABOVE III,
the extreme weakness of the coal stocks,
notably Delaware Il Hudson and New
heavy liquidation on the latter. have
been unfayorable to all bull speculation.
and have kept up the bearish inclina-
tions of the room traders. The latter
In fact seem to have control of the
market The recent break eliminated
public interest to large extent, and
the general conditions are not favorable
for large operators to take the initia-
tive on the bull side. London has con-
fined itself to covering shorts put out on
the Trausmissouri decision, and to that
extent has been a help to prices, but
though the general feeling is less ap-
prehensive, the general market seems
likely to remain In an inactive and un-
decided condition.
The weeks clearings, amounting to
$500, ,000, 900. are 2.3 larger than the total
last week, per cent smaller than the
same week Of a year ago, 10 per cent less
than the like period of 1895, 4 per cent
less than in 1894. and 13 per cent less than
in the last week of March, 1S93
Exports of wheat, flour included as
wheat, from both coasts of the United
States and from St. John, N. B., this
week amount to 2,496,64 bushels, COM
pared with 1,749.000 last week. 1888. 900
in the week year ago; 2.853,000 in the
week two years ago; 2.778. 900 In the like
period of 1894, and as compared with
$500, 900 in the corresponding week of
1898, the largest weeks total exports of
wheat and -four since the first week of
February last
4.970,000 bushels this week. compared
with 5.S62. 900 last week; 2.1ss. 900 in the
week a year ago; 7S1, 900 two years ago;
1,274. 900 three years ago. and as compared
with $4,000 bushels In the like week of
1S93