People's Pilot, Volume 3, Number 32, Rensselaer, Jasper County, 26 January 1894 — TRADE STILL IMPROVES. [ARTICLE]

TRADE STILL IMPROVES.

Betterment Noted In Most Lines—Fewer Failures Ileported. New York, Jan. 21.—R. G. Dun A Co. ’s Weekly Review of Trade says: “The event of the week is the offer of 550.090,000 United States 6 per cent ten-year bonds. The gold not represented by certificates has fallen below 170,000,000, tho revenue continues to fall behind that of last year about $5,000,000 a month, and action In congress on various financial measures Is liable at any time to excite doubts whether gold payments can be maintained. Hence replenishment of tho gold reserve was necessary to a restoration of confidence and a revival of business. “While industrial improvement continues, the gain is slow, and increase in the purchasing power of the people by enlargement of the force at work is in a measure through reduction in wages paid. During the last week dispatches have told of reductions averaging 13 per cent. In fifteen Iron and steel works and averaging 1554 per cent in eleven textile works, five employing thousands of hands each having reduced wages 20 per cent Meanwhile twenty-five textile and eleven iron and steel concerns resumed wholly or in part against seventeen textile and four iron concerns stopping or reducing force. The volume of business done has increased in leading branches, but not largely; clearings fall below those of last year for the same week 22.(5 per cent, and uncertainty regarding the future as yet prevents tho ventures essential to prosperous activity. ‘Textile works resuming are mostly carpet and knit goods concerns, with some worsted works. Sales of wool for tho week have been 3,189,500 pounds, against 6,082,300 last year, and the proportion since January 1 has been about the same. Though more mills are at work and there is more speculative buying, prices uevertbcless decline. “Again, there is reported more busines in iron and steel products, but at lower prices. Speculative markets have been weaker, though wheat is 54 higher, with Increasing stocks and sma 1 exports, and corn is 54 higher. Colton has fallen, as receipts continue much larger than a year ago and tho demand for consumption Is narrow. Lard and coffee are lower, but oil was advanced a cent, with large trading. “Gain in relail distribution of products is still small. Imports at New York show for January thus far a decrease of more than super cent., while in exports hence a gain of 82,3W,000, or nearly 20 per cent, appears. There is no thought of a movement of. gold, as London sends stocks hither to settle for products. The excess of exports over imports in December was 543,090,00<), but the exchanges seemed to foreshadow gold exports. “Failures for the week have been 407 in the United States,, against 270 last year, and 48 in Canada, against 42 last year.”