Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1889-01-07
REVIEWED BY Dun 4 CO
49,
The Unreasonable Weather a Retard.
/
ing Influence in Business.

The Unreasonable Weather a Retard.
ing Influence in Business.
TRADE GENERALLY OUTFIT.
Collections siAv-Prices still Tend Down.
~ward--Iron Market weak-Ths Num-
Der of Failures. for the Past Week
the Largest Ever Recorded.
NEW YORK, Jan. 5.--R. G. Dun &
Zoos weekly review Of trade viii say:
The new year opens with no import
ant change in business prospects. A
hopeful feeling everywhere prevails, and
at the same time the nature and extent OF
retarding influences are more clearly rec
ognized. Prominent among these are
the unreasonable weather which pre-,
products; the disposition of farmers to
hold back products, speculative reports
having created a hope of much higher
prices, and the widespread disturbance
of trade by railroad wars and dis.
examinations. The unusually open win
tiers, too. makes it difficult to get products
to market, and is especially disturbing
to the great lumber trade of the north
west. Railroad agreements do not step
| the determinations of which merchants
in most of the western towns are COM
planning, while the hopes of stockhold-
ers Were chilled by news of cutting in
western passenger rates within one day
after the new compact took effect. In
spite of these influences reports of the
condition of business are generally favor
able.
The growth Of manufacturing at many
western points is a notable feature, and
especially in the gas regions and at
points in northern Illinois and Iowa.
Merchants generally reckon up a large
increase in AMOUNT of business last
year, though toward the close the move
ment was disparagingly slow. The tar
diness of collections, due III different sec
tions to short or late crops, to mild
weather, or to retarded distribution of
marketing, is also a matter of general
complaint.
AT many cities the record of building
shows a surprising increase, especially
at the west, and in Philadelphia the
buildings erected We're 1000 more than
in 1887.
The present state OF trade is generally
quiet, ven more than is usual for the
season, but the money markets, though
usually we'll supplied, have a better de
mand at Philadelphia, Cleveland, De-
troit, Milwaukee, Omaha and Sioux
City. The volume of currency, prac-
tically unchanged during December, is
now 81, 406, 000, 600, only 81, 800. 900 be-
low the largest ever recorded, that of
November last. a year ago it was ST.
1884 ,000, 900; in July, 1887, only 81, $780,
000,N00, and in July, 1886, only 81 $780,
000, 900. During the last week the treas
ury has taken in half a million more
than it has paid out, and the Bank of
England statement leads to the belief
that money may be drawn from
this side.
The merchandise exports for the past
month from New York have4exeeeaea
those of the previous year 1.6 per cent,
against IN increase of SO per cent. in
imports. which would indicate an excess
of SEC, 000, 600 IN exports over imports
for the month,
The course of the stock market thus
far has disappointed those who looked
for: a rapid advance; prices average 80
cents per share lower than a week ago,
and reports of rate cutting have a bad
influence. There was serious fear of ex
tensive strikes on western roads, but the
latest dispatches indicate that all diff.
culties have been adjusted.
Speculative markets have not beer
active, excepting for LAID, which has de.
clined over &c. g;
Coffee is &c higher, with sales Of
26S, 600 bags.
Cotton is steady. with sales of 868, o0t
| bales.
Wheat is unchanged, with sales o.
90, DOC, 900 bushels for the week.
Corn is &c lower and oats nearly X
higher.
Crude oil is nearly 1c lower, and re-
fined zoe per 100 gallons lower.
The general tendency of prices is still
downward, and the average LIZ per cent
lower than Dec. /, and 8 per cent. lowe
than at the Beginning of last year. A
the highest point last year prices aver
aged less than ! per cent. above the
opening; at the lowest point, June 30
they We're II per cent. below the presen
level.
The enormous output of iron still
weakens the market, and while the pro
duction last year is believed to be g.,
970, 900 gross tons, the deliveries of steeI
rails were probably 900, 900 tons less thar
in 1887, and about LOO, DOC tons les.
than the capacity of the mills.
The annual statement of failures
showing that 10,879 firms or q. triht
more than one in 100 went into bank
ruptcy in 1888, is, on the whole. es
pecially encouraging, because the aver
age of liabilities was only 81, 595, fol
the year and S10,73S for the last quarter
This indicates that a remarkably large
proportion of the failures reported wa.
of concerns doing a small business. Or
the other hand, the number for the las
| quarter was about the largest on record
and there are other indications that the
existing state of things operates power
fully to crowd out the smaller anC
that throughout the western and south
western states, Texas excluded, the fail
ures were both more numerous and
larger in aggregate of liabilities than in
the year preceding, while in the eastern
middle and Pacific states an important
decrease in the amount of liabilities APP
pears, and also in Texas. Business fail
ures during the last seven days number
for the United States 1853, Canada %
total 3S7; as against 300 last week. anG
279 for the corresponding week of las,
year. Failures are usually numerou.
at this season of the year, for a variety
of reasons, but 1877 in one week is prob
ably Lhe highest number v e recorded
in this country in that period of time.
@ A Bad Fire.
CAILENTA, Jan. 6.--The town o
Cochin, on the Malaber coast, has beer
almost wholly destroyed by fire. Onl,
one h,,iIdin0-ap niI facfory-yvo ca vad