Omaha daily bee., 1889-01-13
THE CONDITION OF TRADE.
Financial Conditions Are About the
Same as Last Week.
GENERAL BUSINESS is QUIET.
But the outlook rs ENcCllcnt and job.
bcrs Are Lacking For ward TO
n Very Prosperous
Year.
GENERAL BUSINESS is QUIET,


The financial situation is virtually un.
changed and the market may be characterized
as snug. There is an active demand for all
loanable funds and bankers are happy In
their ability TO meet all Legitimate wants.
il is believed the market here will continue
close for some time to come. though an easier
feeling is peTccptible at the cast. Exchange
is steady at Sl.OO per thousand premium.
GcheITIi uiato is luiot. The bulk OF the
shipments are made on mail orders, as sales.
men have not got fairly TO work on the road.
The outlook is excellent and jobbcrs are
looking forward TO a very prosperous year.
Prices have not changed materially, cx.
ccpt in groceries. Corn and tomatoes,
IN canned goods, are in heavy supply
and low in price, and arc said to be a good
purchase at ruling quotations. The dry
goods market is quiet and depressed on nc
count OF the mild weather prevailing.
Wooden dress goods, blankets aud ilanuels
are in poor demand, and unless colder
weather sets in, no Improvement in the stu
alton need be looked for. Hardware is fairly
active for the ~scason-more so than in other
lines, though there is "A good call for lumber.
and the market for building material gener.
ally is better than usual Mt this season of the
year. Heavy SHOWS have fallen in Michigan
and Wisconsin, insuring a large output of
lumber for the season of 1889. The flour and
feed market is dull and lower, and despite
the efforts Of millers to steady prices, further
decline is anticipated.
Last year more than 24O,0 O0 firms previ-
ously reported by Dun's mercantile agency
ceased to exist, agaidst 1869 that failed,
ana while the greater part of these changes
meant congratulations or new partnerships,
there was unquestlonably u great number
who withdrew on account of total or partial
loss of capital. For every firm that fails
several retire from Business with losses of
the whole or part of their capital. In lS10.S2,
years of general prosperity, the proportion OF
failures was much smaller than last year,
ranging from l in l05 to | in lbs each year.
at has been said. Says the New York Com.
merclal Bulletin, that the tendency OF cX-
listing conditions is to concentrate trade and
manufacture i'll the hands of a few with
large capital and especial facilities, and To
crowd out the smaller and weaker concerns.
If that be true the facts show that there
must be in operation other counterbalanctng
forces which tend to draw INTO trade an IN
crcasing proportion of the population, SO
that but for the frequency of disasters the
number OF traders would grow out of all
proportion, for the number in business in.
creases almost every year more rapidly than
the population"
Four hundred million pounds sterling is
the amount of capital invested in ioint-stooK
enterprises as registered in London during
1SSS. This is more than double the amount
for 1857.
Bullion in the Bank of England increased
So, 522O, go during the past week. The pro
portion of reserve to liability is $3.50 per
cent, against $3.50 for one year ago.
Thousands of foreclosures have followed
the dry spell, from which the Kansas corn
country has suffered, and companies have
been organized to take over the forcclosed
property and hold it till better times.
During the year recently closed twenty
two railway companies, with 3,2iO miles of
lines and nearly SlS7 900, 600 of securities,
nave become iusolvent and passed from the
control of their owners into that of the
courts.
The Cincinnati Price Current estimates
the packing of hogs in the west for the week
at 295, $50 hogs, against 330, 0JO for the cor
responding week in 1888. The decrease is
now 100000 hogs for the season. The esti-
mates for the balance of the season indicate
that the final returns on March ] will show
q reduction IN number of 600, 900 hogs.
Farmers have had very good weather for
feeding live stock and this has had a ten
dency to curtail receipts at the principal
slaughtering %ccntcrs. 1t is anticipated that
the supply OF both cattle and hogs will be
larger during the balance of the winter and
the quality will no doubt be excellent.
The idea of forming u trust among the salt
producers of this country is being pushed
with considerable energy by interested par
ties both upon this side and England. The
scheme is being brought to the attention of
New York manufacturers and also those of
Michigan and Canada.
Tea is firm for the better grades on ac-
count of the short crop and the increased
consumption in t~ea.drinking continues. The
consumption of tea in Great Britain is said to
nave increased over 100000 pounds during
1857.
Coffee is in good supply and the only
scarcity is in the mild kinds. Rio IS active
and st, ady, the American visible supply
amounting to Az, 900 bags, against 372, 800
bags n year ago.
The available supply of wheat on January
z in the United States and Canada, east of
the Rocky mountains, and including -four
and wheat on passage for the United King
dom and continent, is nearly 81, 900, 600 bush
els.
1t is expected that towards the end of Jan.
uary the demand for foreign wheat in France
will be largely increasing, owing to a falling
off in the offers of home grown.