Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1889-01-12
Facts About Trade.
Comment on the Proposed As
ISOLATION OF Railways.
POOR SHOWING FOR STOCKHOLDERS.

Over Half the Stock 10000 Miles of
Railway Paid No Dividends Last Year
and go Per Cent. of the Bonds No Inter-
est-Judge Barrett's Decision on Trusts
Points from the Interstate Commerce
Representatives,.
NEW York, Jan. l2-R. G. Dun & Co. 5
weekly review of trade saws: Events of un-
usual Importance during the past week have
helped the Improvement of business. The
agreement of railroad presidents, if signed
by the companiesat the west which thus far
hold off, will give substantial reason to hope
Tor better era in railway management.
Not the least important feature of the ar
rangement is that bankers of large influence
commit themselves, in case the compact is
signed, to refuss their countenance or aid to
the negotiation Of securities for new COM
petlng lines or extensions, where either of
the railroads agreeing to the compact OBJ
Jects. The report of the Interstate commits
sion shows that on l2), 900 miles of road, for
the Year ending June 30, 1883, the stock and
bonds were of equal par value, but on 52IS
per cent. OF the stock no dividend was paid,
and on 20 per cent. of the bonds no interest,
while the proportion paying less than per
cent. was 63 per cent of the stock and u per
cent. of the bonds
The decision of Judge Barrett, holding that
the sugar trust is illegal and void, and in eff
feet dissolution of the companies taking
part therein, Is OF large Importance in many
branches of business The principles of the
decision would apply to very many of the
combinations for the purpose of controlling
production and prices, 10y which legitimate
trade has Of late been so much disordered. No
change occurs as yet in prices of sugars and
1t may be premature to suppose that other
forms OF agreement. escaping the legal OBJ
jections found in this case, may not continue
TO control markets. There are signs in
Europe that the copper trust is trying to cast
upon the public part of its accommodating
load, through the organization of a copper
bank. The combination in coffee has not
prevented decline of quarter in price,
and speculation in hogs and lard has tended
toward lower figures
Another fall in wheat has occurred, the
price closing ~ cents lower for the week.
exports being still arrested Corn fell TX
cents. and oats advanced nearly cent.
The monthly statement of iron furnaces
IN blast indicates a production much thu
largest ever known; the weekly OUTPUT OF
anthracite and coke iron Jan / was I42, 452
tons. against 1876 G27 month ago, and I2I. =
SO7 year ago. Fer the past year the pro.
duction is estimated at $500. 0OO gross tons.
The enormous supply makes the market
duller than usual for the season, as few are
disposed to purchase beyond immediate
needs, and stocks at some furnaces are &c
cumulating.
Reports from interior towns this week are
fewer than usual, and indicate less active
state of business The failures continue
numerous end the complaints of tardy COL
lectious rather frequent, and on the whole
the settlements attending the beginning of
new year seem to have been somewhat less
satisfactory than usual. Bot there is hardly
any complaint of monetary scarcity; in all
quarters the money markets appear to b..
fairly supplied for all legitimate business.
and the rates of interest on strictly good
paper not higher than usual The treasury
holds about s., l00O 900 less cash
than 1t did week ago, and
at present apprehension of gold
exports are lesseued BY heavy exports of
merchandise, but the imports are also IN
usually large. The money market here is
easier and rates lower than a weak ago, and
the feeling of confidence in the financial and
commercial future is still mistaken.
The business failures throughout the cour,-
try during the last seven days as reported to
r. G. Dun & Co, Friday, number for the
United States 49,, for Canada 81. or a total
of 3Sl, as against total of 3s7 last week
and - the week previous to the last For
the corresponding week of last year the fig
ures we're 80 made up of 256 in the United
States and % in the Dominion OF Canada