Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1888-02-22
FINANCIAL AND COMMERCIAL.

A combination between the nail manufact-
urers of New England. New York, New Jer-
sey Eastern Pennsylvania, Maryland and
Virginia for the purpose of securing reduced
production has been effected. In this terri
tory there are twenty-five nall manufacturers.
employing about one thousand, nine hundred
machines. At private meeting held in New
York on the 18th the agreement to cut down
production 40 per cent. was signed by thirteen
of the manufacturers. and it was understood
that the remaining twelve would concur
Each concern will pay into the pool about So
900, which is to be fortified should the contract
be violated.
The Boston Commercial Bulletin furnishes the
following information In conn etion with this
movement
Prices have been slightly advanced. The
trade has been suffering from over production
for some years, and many of the concerns
have lost money. The production last year
only 1859 592 kegs against 3, 1881 In 1885,
but the stock on hand January l, 1888, was
33s l65 kegs against 304, 493 on January l. 1851
The prices. which ruled at $3.50 per keg for ten
penny on January l, 1883, and s.. so on January
S9 are 20 nSw 0f by r ana Tse members Of
the pool expect the western manufacturers to
follow their example"
The business failures occurring throughout
the country during the last seven days, as re-
ported to r. G. Dun Co., the Mercantile
Agency, by telegraph. number for the United
States 236, and for Canada 81, total of 273. as
compared with total of $50 last week and z79
the week previous to the last. The figures for
the corresponding week last year were 26I
failures, made up of 23l in the United States
and SO in Canada. The failures in Canada still
seem to be unusually numerous.
The Interstate Commerce Commission rem
dered decision last week, which places
branch roads. hauling products, such as coal,
which enter into the commerce of the country
because of their transportation by leading
lines, under the regulations that apply to the
latter. The management of branch lines can
not dis criminate as to the local traffic, the
road being essentially part of the instrument
talities conducting interstate commerce.
Last weeks Bradstreers reports that the
quantity of wheat on passage for Europe, Feb
uary 15 1888, was IL 776, 00O bushels, comprising
Ii, 456 900 bushels to the United Kingdom, and
100000 to the continent of Europe. The
quantity on passage enc year ago was 22,728.-
600 bushels, comprising II 5s4 10 the United
Kingdom; s. l44, 600 to the continent, being de-
crease this year, as compared with the last, OF
9, 952, 900 bushels less to the United Kingdom,
and 1924, 900 bushels to the continent, but 3D.
COO more than week ago.
The decrease Of wheat, and flour. estimated
SIS wheat, received at eight Atlantic ports for
80 weeks ended 18th February, 1883, as COM
pared with the same time and date in 1887, was
TO- lO0,7l2 bushels, and the decrease in exports
was 4,U27, 2OS bushels for the same time as COM
pared with 1887.
The visible supply Of grain, reported at the
New York Produce Exchange on the 18th inst.
was wheat S9.5s4,700 bushels; corn, 1854 500
bushels; oats. 1855. 6O2 bushels; rye, 367,0l6
bushels.
The decrease in wheat from the report of the
week previous, was 722,9OS bushels; corn. A.
6s4 bushels. Rye increased 27 1856 bushels.