Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1889-01-28
TRADE FOR THE WEEK.
The Condition of the eountry's Com
merce Unusually Perplexing.
COMPLAINT OF DIZZINESS,
While the Volume of Transactions Is
L%arge-stin, There Is General Conf
d~ence-Prices Yet Lower-Foreign
Traae-Ihc Weeks Failures.

New YORK, Jan. 26.-R. G.. Dun &
Co. s weekly review of trade will say:
The state OF trade is unusually per-
picking, for with general complaint of
dizziness there are evidences that the vol
ume Of transactions is large. The pay
ments through banks last week were 25
per cent. larger than for the correspond
ing week last year at New York, and 16
per cent. larger in all other cities. and
while speculation iii stocks and prod
ucts accounts for much of this increase,
II another part is but a reflection of
the heavy business done last fall, the
gains appeared at so many cities, and
are SO large that the new transactions
of the week can hardly have been below
last years mark. Railroad earnings
also show that traffic is large, though
apparently but little in excess of last
years. The demand for money is suf-
ficiently active at nearly all interior
points, moreover, to indicate that a
large business is in progress. Yet it is
undeniable that the prevailing temper
is n of disappointment at the result of
business since the new year began, and
this is not wholly explained by the
steadily declining prices of products.
The reports from commercial centers
are far from gloomy. AT southern
points, after some depression, trade APP
pears to be improving, and it is hoped
that the liquidation is about over. In the
northwest trade is fully equal to that of
last year, and at some points is clearly
larger, and even where complaints of
present inactivity are heard there is
much confidence that business will be
good when the effects of unreasonable
weather have passed.
The supply of money seems to be
everywhere ample for legitimate de-
mands, and while collections are rather
dull, or but fairly satisfactory at many
points, the complaints are, on the whole,
rather fewer than usual. The open win
ter has prevented such sales as were ex-
pected by many small dealers, and so
deferred settlements, but there are no
indic:t:eaaaof general unsoundness, or
overstraining of commercial credits.
Much of the existing disappointment is
due to the arrest of railroad building
and stoppage of wheat exports, which
are traceable to speculative influences.
In the great iron industries consump-
ton for all other than railroad purposes
appears to be larger than ever, but there
is serious disturbance because fully a
third of the enormous demand for rails
has ceased. In consequence The Iron Age
reports a general weakening which
there is no use in blinking at, and holds
thai furnace IS which cannot face with
out serious loss a decline of fully 81 from
present prices, may wisely suspend pro-
duction. AT western points, southern
iron is offered at prices equivalent to S12
at Birmingham, which is considered
equal to SIT for Pennsylvania iron, and
large sales are reported ut n.iees below
published quotations. Last year deliv-
cries of rails were 1000, 900 tons, about
60 per cent. of the capacity of the works.
Bar iron is weak, hut the report that the
steel beam combination has broken is
~eontradicted.
A decline in the prlce of coke is con-
sidered probable, and the anthracite
coal market continues weak. The large
production last year, 1t appears from of
fetal statistics, raised the UNI
sold stocks to 652, 1875 tons,
an increase Of 521 900 for
| the year, so that actual Consumption
was but /, 900, 600 tons or 8 per cent,
| greater than 1887.
Thedecline in wheat continues, the
price having fallen 2sc for the week.
The record of S1.20 for wheat Oct. s
looks rather absurd in the light of sub
sequent events, but at the prices reached
this week 93ac# to $500, there has been
some buying for export, though not as
| yet for Great Britain.
Corn has fallen lie in spite of large ex-
port demand, and oats were a shade
lower.
Pork products have also declined
mess about soc per barrel, lard zoe and
hogs 10c per 100 pounds.
Cotton is a shade lower, with sales of
421, 900 bales, and coffee &c higher, with
sales of 233 900 bags.
In oil the market vas dull, and COM
paratively unchanged until Friday,
when a Sudden squirt lifted the price BIC
| in an hour.
The market for copper has been dull,
and tin is lower at 2 to 2ac. Lead is
also weak at $3.50, but spelter is quoted
at &c.
There is little activity in groceries,
but the sugar market favors holders,
though the estimates make the worlds
production D 100000 tons, against 1896
600 tons last year.
The general average of prices has
fallen S-I0c for the week, and more than
2 per cent. since Jan. /, with little pros
pect of an upward movement at present.
In the financial world there has been
no disturbance, though a small ship
ment of gold to Europe and a large de-
falcation by,a financial agent of a lead
ing insurance company, have occurred.
The supply of money here increases,
both by remittance from the interior
and by excess of treasury disbursements
over receipts. which reached 81, roo, 900
| for the week.
The foreign trade at this port contin-
ues to improve and while imports thus
far this year exceed last years by 4 per
cent the exports of merchandise from
New York show a gain of II per cent.
for three weeks. Lower foreign ex-
change would naturally result, but for
the weakness in stool and the sales of
securities on foreign discount, but with
many depressing events and reports, the
stock market is nevertheless SO firmly
sustained that the average decline in
prices has been only 80c per 500 for the
week, and the later tone has been more
hopeful.
The business failures occurring
throughout the country during the last
seven days, as reported to. r. G. Dun &
Co. by telegraph. number: For the
United States $40, for Canada as, or a
total of i3f2, as against a total of 1881 last
| week. and 38l the week previous to last.
For the corresponding week of last year
the failures were 900 for the United
States end AZ for Canada.
Inspector General Jones Dead.
FORTRESS MONROE Va. Jan. 26.-In-
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