The morning news., 1892-03-26
DUN'S REVIEW OF TRADE.
THE BUSINESS INDICATIONS NOT
QUITE SO CLEAR.

silver Legislation and the Boring Sea
Controversy Show Thsir Enects.
Trade Also Retarded By Unfavorable
Weather-The Money Markets Album
dantIy supphed-Ths Weeks Fall
ures.
NEW YORK, March 25.-R. G. Dun G Co. 3
weekly review Of trade says: "The business
failures occurring throug lout the country
during last week number for the United
States 200 and for Canada 81, a total Of 2Sl.
against 240 last week.
The business indications are not quite so
clear Perhaps it Is partly because un-
favorable weather temporarily retards trade
at maav points and perhaps because
the uncertainties regarding the results
Of the silver agitation and the Bering sea
controversy somewhat affect financial and
commercial calculations, but there is on the
whole less evidence Of improvement in the
distribution. and vet the prospect in the
great industries sesms brighter The move
ment of grain and cotton falls of, and a
sharp decline in prices is felt In many quar-
ters, but the tone in iron, wooden aud shoe
manufactures is rather improved.
MONEY EASY.
The money markets are abundautly SUD-
piled, though foreign sales of stock again
cause rise IN sterling exchange, so that
while stocks are lower, railroad earnings
are decidedly favorable. With the un-
usually conflicting signs the confidence
which prevails in business circles is still un-
abated.
"Wheat has dropped TO e51S cents, a de-
cline OF nearly 3 cents for the week. Corn
is nearly l cent stronger. Oats are quar-
ter lower. Pork and lard are shade 10 wer.
Oil has declined 2A cents and coffee an
eighth.
Cotton is down to 6sl cents for middlug
spiand. although the receipts this week
have been much less and the exports greater
than a year ago. Stocks at the ports have
diminished, but are still 444 600 bales
greater than at the same date last year.
"Silver has fallen to 40 a. pence per ounce,
the lowest ever quoted, and st New York
only SSl4 is paid for bullion, though no one
has supposed that the silver bill could pass
over the veto.
PRICES VERY LOW.
"rhe prices OF commodities as a whole
have declined % to l per cent during the
week and are now Is per cent. lower than a
year ago at this time.
THE iron trade shows tone in spite Of
very low prices. Larger sales OF pig are
reported since the recent decline and there
is less pressure to sell, Besssmer iron being
steady at $l4 so at Pittsburg. Structural
iron is fairly active, with better prospects.
Bar iron is more active.
There is an improved demand for
fabrics. The wooden business is doing uu-
usually well for the season, though very
low prices and sharp foreign competition in
some branches are seriously felt. The
cheapLess of cotton helps the manufacture
and more demand fairly snstaius the prices
Of goods.
EXPORTS GREATER THAN IMPORTS.
"The merchandise exported exceeded the
imports In February by S21 $50, ,l24, and
yet the net exports of gold were S., $50, ,342.
AS the excess of the exports over the i'm
ports of merchandise and specie In the
seven months ending with February was
S92.O74, ,667, it is evident that the sales Of
American stocks by foreign holders must
have been remarkably large. This move
ment seemed to have been arrested until
the later disagreement in the Bering sea
matter caused much selling and lower
prices for American securities at London,
and some bankers now expect a renewal of
gold exports. The exports of domestic
products have fallen off, and for the three
weeks of March are but $656, 900 larger at
New York than year ago, while the i'm
ports have been "a 500 900 larger, indicat-
Ing for the month a considerable excess of
imports. But for the uncertainty as to how
FAR foreign relations will affect money and
business here, the general confidence 10 the
future of trade would seem to- he justified" :"