Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-12-21
THE STATE OF TRADE.

/
1t is Not sach, According to r. Gs.Dun
Co.'S Weekly Review, as to Cause ANY
Great Amount OF JubilatiOn-Thougn
| Supplies of Manufactured Goods arc
| Running Low, Trade Still Waits, as Far
as Possible, to See What May Turn Up
business Failures, Etc.
New YORK, Dec. 16.---R. G. Dun a.
| Co. s weekly review of trade, issued to-
day, says:
1t is proof OF the enormous vitality OF tho
| country that while mills are stopping In every
direction, and the army Of unemployed 10
larger than it has been for many years. other
mills are constantly starting up to answer the
| demand which a single year of unprecedented
| disaster has only diminished. Industry Is DO
ing nothing on speculation, but the needs
which the wonderful growth and past pros
perity of the people have created are pressing
upon supplies exhausted by months OF re-
duced production. Trade still waits as
much as 1t can, and yet the
volume OF business q mere hand-to-mouth
basis is such would have been called large n
few years ago. Measured by clearing house
exchange. it is 10 per cent. less than year ago.
the decrease being greater at the west and
south and less at the east. Measured by rail-
road earnings, it is 1876 per cent. less than q.
year ago, the largest decrease OF any week
since September. partly because passenger in
crease no longer makes up for freight decrease,
and partly because OF decentralization in trunk
line freights; but while the decrease on those
lines is 116 per cent. it is 239 on western
wheat-carrying roads and 26i on Pacific roads.
reporting
Iron workers have accepted lower wages in
the Pittsburgh region, and numerous works
have resumed. Thus the output Of pig iron
suddenly increased from SO,070 tons weekly.
November l, to 90. 3l9 December 1; but 1t Is yet
only 81 per cent OF the whole output. 1sl 35l
tons. last May. The fierce struggle of the Pitts
burgh region for business drives prices to the
lowest point ever known-sll for Bessemer
iron and Sl675 for steel billets-and takes
away nearly all new work from the east and
west. where depression increases Yet some
additional furnaces went into blast last week.
In shoe manufacture new business Is narrow
and few factories work full time, shipments
from the east for half OF December being 70
per cent. less than last year.
In cotton manufacture there Is much hesita--
ton and prices of leading bleached goods have
been reduced. resulting in larger sales, while
other lines are in moderate demand.
The wooden manufacturers three weeks ago
were buying 100000 pounds in three chief
markets, but this weeks report is only $685.
ZOO against $40 500 last year, and several mills
have stopped production, less than half the
machinery being at work. Some linen. silk,
glove. hat and other concerns have also closed
Speculative markets have not been buoyant,
nor much depressed. Railroad stocks are. q
shade lower, which is not strange in view OF
the decrease in earnings already noticed, and
the fact that east bound tonnage Is ~ per cent.
less than year ago; and yet the Pennsylvania
orders 1900 tons of rails and considerable
orders for cars at Chicago are mentioned.
Poor earnings are reported on st. Paul and
the Western Union, and the exports OF gold
have depressed prices. but the payment of
dividends by the Atchison. and the order OF
the Trunk Line association to restore rates
January l. give some encouragement.
Wheat receipts at the west have been 3,291,-
S72 bushels. against SIS. 913 the same week last
year. and Atlantic exports were only 596704.
against 1879,37s last year. and stocks In sight
increased rapidly, but prices declined with
sales Of only 4, 500 bushels here
Corn receipts were very large 3,463 800 BUSH
els, against 2,43l 800 last year, and exports
were fully maintained che price yielding half q
cent
Pork packing at the west exceeds last years
and prices drop in spite of the fact that hogs
are proving of poor quality
The sugar crop OF Cuba Is estimated at
100000 tons. but prices Us yet are fairly
steady. Cotton receipts have been very heavy,
n 900 bales larger than for the same week last
year. with exports only 1900 larger. TakingS
Of northern spinners decrease, but prices ad-
vanced three sixteenths
The money markets have been scarcely at
all affected by the export OF $i,700.0Oo
gold to Germany on gold bills, and it is natural
that bankers are willing in present conditions.
to aid the treasury by supplying as much as
$50 OO0, 600 gold for export. But larger move
ment must appear before very long. unless
trade conditions change. OF exports OF mer-
chandise for the half of December the de-
crease was 100000 or IL per cent. while the
decrease in imports was 81 10000 or per
cent.
The week has brought fewer sales of stocks
by forely. holders tha1<snS. md some buy.
ing. CommerclzfP paper II bous
lower rates. but there is much whichSne BANK
even though ciogged with money do not want.
The banks have also aided the treasury by keep
ing back due bills for mutiiated notes
deposited a virtual loan. which amounts
to about s5,O0J.0oo month. But treasury
receipts do not improve and the banks here
have somewhat generally advised the adminis-
tration to provide without delay against fu-
ture contingencies by same form of short-time-
loans.
Failures are numerous and large being 389 in
the United States for the week against 270
last year; and 10 in Canada. against Is last
year.