The herald., 1897-03-14
Show Some Healthy Signs OF
Improvement
THE FAIRLY STEADY PRICES
Give Promise Of an Increasd Volume o.
Business
Number Of Men Have Been
Set to Work
1s.ooIated Press Special wire

-~>--~~-
general review of trade tomorrow will
sty: Continued activity in various in
dustrial lines, based on an expanding
consumption demand, fairly steady
prices for staples. further improvement
ir railway earnings and widespread con-
fidence that the volume of business will
expand materially in the near future
constitute the trade features of the
week. Spring demand has begun to show
itself with retailers. There Is better
inquiry for shoes hats and clothing and
for light hardware and agricultural Inn
elements west and southwest. Indus
trial revival has been offset in instances
by the closing of factories and mills and
in others by continued operation de-
pendent upon paying reduced wages. Of
ferings of cotton goods have been In
excess of demand. Notwithstanding tho
curtailment of output. Wool continued
active and firm in price, but manufac-
turers are buying sparingly. The CEN
tral west and northwest report that
the distribution of general merchan-
disc was interrupted by flood and wash
outs. Prices have been fairly steady,
noteworthy decreases being those for
tea, sugar, coffee, lard and wheat. The
drop In price Of wheat In the face of the
governments remarkably bullish re-
port of stock of wheat in farmers hands
indicates continued lack of faith in ag-
ricultural department outgivings as to
the size of crops and stock of the same.
Exports of wheat from both coasts Of
the United States this week (iour in
xI.x I.l xxffa n mn n n I =
4S2 bushels, against 2,075,000 last week.
2,047, 900 in the week year ago; 2,191,-
900 in the week two years ago; 3,25S. 600
bushels three years ago, and as COM
pared with 2,SS6,000 in the like period of
1893, and forms the smallest weeks to-
tai since the last week of April, 1896.
Business failures continue to decrease,
the total for the week being 227, against
262 last week
Bradstreets financial review will say
tomorrow: At the beginning of the
week that just ended speculative feel
ing here was influenced to considerable
extent by the nervous feeling of the Eu-
ropean market regarding the outcome
of the demands made on Greece by the
powers. The news was reflected by
bearish selling pressure and the tempor-
ary withdrawal of support, the market
being particularly unsteady on last Sat
urday. A somewhat better feeling as
serted itself, however, as soon as 1t was
known the reply of Greece to the powers
would be conciliatory, and the fact that
the London markets showed renewed
firmness. together. with the increasing
probability that there would be a long
delay and an ultimate compromise, had
It's effect. Shorts were accordingly COW
cred in~-various directions though dult
and professional exhibited a strong
tone. The speculation througeut was,
IL must be admitted, of an exceedingly
uninteresting character. In fact, COM
paratively little impression was made
by events that under ordinary circum-
stances and ordinary market exposes
even a moderate outside interest would
have resulted In more or less moment.
The announcement that a financial
house, already largely interested in the
anthracite properties, had arranged the
floating debt Of the Lehigh Valley and
corporation, cause an advance in its
stock on the part Of the exchange. but
Il had little influence on the other coal
roads. New Jersey Central, in fact,
was q heavy feature of the market.
Manhattan was depressed in anticipa-
tion of the reduction of the dividend for
the quarter from ~ to 1 per cent, but
rallied on short covering and on the gen.
eral opinion that this course was pru-
dent and ultimately beneficial in its
bearings. Some attention was paid TO
the probability of action on the tariff
at the approaching extra session of con-
gress, although no particular move
ment in prices was attributed to this
cause, and sugar stock was firm in the
face Of advices from Washington that
the draft Of the new tariff embodies
sugar schedule which is not acceptable
to the refining interests.
DUN g. CO.'S REVIEW.
Dun & Co.'s weekly review of trade
will say tomorrow: It is a curious IL
lustration Of human nature, this con-
tinued encouragement, even while the
increase Of productive Industries and OF
legitimate business steadily grows. No
genuine or lasting improvement could
come otherwise than slowly and step by
step, after such depression as the past
four years have witnessed, and the
most hopeful sign Of the situation is that
the gain Is so nearly devoid of elements
which involve unsoundness and prob
able reaction. The first step toward
prosperity Is to get the wheels started
and the hands employed, and the num-
ber Of works which have resumed with
increased forces during the past week
seems greater than in any other week
been in many cases by contract at ex-
tremely low prices, involving reduc-
tion Of wages, the hands are earning
more, even so, and aid more the general
recovery than II not working at all, and
thus far important strikes have been
avoided In many cases, though some are
ntflI threatened. The money markets
continued especially favorable to in
dustrial recovery. and there is no such
srseculative epidemtcs as to lock up an
EXCESSIVE share of available capital
The annual statement of wheat in
farmers hands since March 1st has net
In the least stimulated speculation.
ThQae commonly worthy OF attention
indicate that farmers and commercial
euhplies together aggregate 1886. 900. 900 to
1oq,0O0, 900 bushels, exceed the output and
outimate OF the home demand 10000, 900
bushtls to July let. by much more than
the quantity likely to be wanted for ex..
port, in view Of the continued outgo Of
corn, amounting for the past two weeks
to 6.884,988 bushels. against 1851 ,475 last
year. Wheet exports from Atlantic sea-
ports in two weeks have been 2,lS1,747
bushels. against 2.921, ,2s7 last year. and
although western receipts are but $751;
36o Rughels fer the two weeks against
l,6e7, ,3e2 vast year. they are still 70 large
for the season az to discredit alarms
about speedy exhaustion OF the supply.
The price has declined 3h cents for the
week ana corn 10 also q fraction lower.
The speculation IN wool continues and
sales for the two weeks have been IT.
~ 800 pouqdg Of which o.211, 100 were
d6Ineetic, whereas the largest previous
sa!es for ~ seme period were 12:ol7. .e7e