Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-02-13
WEEKLY TRADE BULLETIN
R. G DUN & CO.'S REVIEW OF TRADE
AND INDUSTRY.

A Vast Amount of Capital Locked Up
and a Vast Body of Indebtedness
Created, Consequently There Is Hesita.
tion In Trade.
NEW YORK, Feb. 11.-R. G. Dun &
Co.'S weekly review of trade will say: In
the general course of business there has
been no preceptible. change. The volume
of payments, including paper maturing
February ], wes over - per cent. larger
than last year, outside of New York.
Evidently transactions are much smaller.
Railroad tonnage is affected by rate wars,
and h ratio of expenses to earnings
grows less satisfactory. At nearly all
interior points reporting, trade is dull
and inactive though preceptible improve
ment within the past ten days is
noted at st. Paul and Omaha, but col
iectiens are slow at st. Paul, Milwaukee,
Detroit and Cleveland, and the number
of failures in the northwest. beyond the
Mississippi, seems larger thar usual. The
cold weather evidently has a retarding
influence in many quarters. The failure
OF a bank at Cincinnati, and The failure
Va oShotOy Lloo'5 at SutCdRO, jill 0NQ
grain house with large credit, call at
tention to the chief cause of hesitation
in business. A vast amount OF capital
has been locked up, and a vast body Of
indebtedness created in connection with
the real estate, grain and other specula-
lions of the past year. Indebtedness
based on fictitious valuations of property
accommodates In not a few cases will have
to be liquidated at a loss. On the chance
OF war in Europe, wheat suddenly adj
vanced so far that peace prospects in
volve disaster to many. The capacity of
iron furnaces in blast February /, was
Id. Aus tons, weekly, less than on Janu-
airy !, and, contrary to expectations,
much more than half the decrease was in
other thar anthracite furnaces. The Ell
fects of the strike in the coal regions in
crease from day to day, but are not as
great as the depression due to the shrink
age in demands. Of the latter, part is
attributable to tariff uncertainties, and
part to the excess of railroad building
in the west, and the consequent
wars of rates. Including so, 600 tons de-
ferred from last year, cont act for steel
rails SO far reach about 500, 600, without
any lifting of the price, $31. so at mill.
Pig iron is weaker at Pittsburg, but stiff
at the east for the better grades, on ac-
count of scarcity. In manufactured iron,
slackened demands still cause weakness.
The effects of the coal strike, which does
not seem to approach an end, are felt In
slow collections, and several failures at
philadelphia. The rate wars between
western roads have gone so far that the
rates charged are said to be not more
than half those charged before the
trouble began, but no sign of settle
ment is seen in any quarter. Those
who have put money into many new
lines where they were not needed,
have nc reason to expect returns until
the business of the country has largely
increased. Meanwhile the interstate
law makes any settlement moro diAictalt.
and places United States roads at a dis
advantage in competition with Canada.
Through rates for exports have been cut,
also. The efforts of trunk line managers
to settle difficulties have not yet sue
ceeded. Nearly all the markets are
lower-stocks about Soc a share, wheat
about lie a bushel, corn 3-4c, oats lie,
coffee 1-4c per pound, sugar 1-sc, hogs
loc per 100 pounds, and tin 1-4c per
pound. Cotton has been steadied by the
report of large consumption abroad. The
dry goods trade continues good for cot
tons, which are steady in price, and
slightly improved for woolens. Wooden
manufacturers meet Tuesdag to consider
question OF credits and undervGluations,
and to perfect organization. In groceries
there has been some improvement in
tone. The tea trade shows more activity
and hopefulness, but the demand for but
ter and cheese is hardly satisfactory, and
meats are very dull and weak. The
treasury has added half a million to de-
posits during the week, but otherwise
but slightly diminished circulation.
Business failures during the past seven
days number for the United States 2S7,
Canada 81, total $50, as compared with
287 for the same week last year.