Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-11-09
FINANCE AND TRADE.


rho General Outlook rhroaxhout the
Country rs Seen Through r. q. Dun =
Cos. Weekly Reviow-GoOd Effects OF
Silver-Purchase Repeal Already Becom-
ing Manifest In Legitimate Buslnesas
HUT Speculation Not Much Affected
The Weekly Failures, Ect.
New York, Nov. 4.-R. G. DUN &
Co. IS weekly review of trade, issued to-
day, says:
The repeal of the silver purchase act does
good already. The business world in every
part OF the country reckons 1t helpful and the
tone is more confident. It is hardly time as
yet for the effects to be felt to any great ex-
tent in manufactures, but bankers are more
liberal in accommodations, and merchants
more hopeful in purchases It is well TO re.
member that the act will do less good than II
it had been passed early In the spring, or the
day after congress assembled. It cannot now
prevent several thousand failures which have
already occurred nor relieve creditors from
resulting embarrassments It cannot now
save from loss multitude OF
manufacturing establishments which have
closed because the future remained un-
certain It will go far to restore business con-
fidence, which was much needed; but many
may expect from the measure larger results
than can at this late day be realized. Thus. In
the stock market during the past week, al
though the action of congress and the presi'
dent was correctly anticipated. the average
OF prices declined 81 per share for railway
stocks and SITS for industries though the tone
is fairly confident. The diniculty is that
large proportion Of the buyers during the past
month, have been calculating to realize with
profit on the passage of the bill and those who
realized first did best
Th,e action OF congress had less visible In
fluence upon speculative markets for products,
in part because foreign markets obsttnateiy
refused to accept the higher valuations which
tried THOUGH
people across the water award unstfnted
praises to those who secured the passage OF
the repeal bill, there is not much disposition to
pay higher prices on that account for wheat or
corn. In view OF the great abundan ce of money
at speculative centers, the weakness OF mar
kets is more significant. Wheat was cents
lower, receipts being 6,6i4,74 bushels for the
week, against 1Ol, 443 for the same week last
year; while exports were only 567, 645 bushels.
against 2 Al $50 last year. II foreign countries
are on the verge of famine their traders do not
seem to have discovered the fact Corn re.
ceipts were larger than last year and prices de-
clined q fraction. Oats advanced little,
though the receipts continue large.
Industries could not be expected to make any
material gain as yet In consequence OF neW
financial conditions: but the demand for textile
products has to some extent improved. Care
fully scrutinized, the increase OF orders ap
pears to be almost wholly due to the gradual
exhaustion of stocks in the hands of dealers
wholesale and retail, and not yet to any appre-
ciable increase in sales TO consumers. The
most astonishing shrinkage ever known In
purchases by consumers has been at the bot
tom of the prostration OF trade and manufacf
lures. and as yet there IS scarcely any sign OF
improvement in that respect. But as retail
stocks run short and in turn wholesale stoc Ks
are depleted, the mills feel an increasing de.
mand, mostly IN the form of numerous small
orders for immediate delivery This kind OF
demand has kept many mills running during
fha 1nc1yo Of hQe
closed more textile mills than have resumed
The sales of wool have been materially in.
creased by purchases for some large worsted
and dress goods works. presumably because
they have orders for continued operations,
even though it may be for q short time only,
and the sales at the three chief markets were
4,45s5O0 pounds, against 7.O56953 last year.
making for four weeks Is, 665 $50 pounds, against
% 031 1853 for the same weeks last year.
The metal working industries manifest little
gain as yet. The miner metals are weaker on
the whole, though speculation lifted lead
trif1e to 3.5c. but large sales afterwards &C.
CURED at SAC. Tin was depressed at o0.45c,
copper was sold at 975c for lake. AS yet, iron
and steel manufacture shows scarcely any
signs OF recovery. There has been some in
crease. it is judged from printed reports in
the number of furnaces In blast, but
the output still appears to largely exceed the
consumption, and there is more pressure to
sell pig iron than to buy. The orders for I'm.
ished products are still small. and do not ap.
pear to he increasing, and while at Pittsburgh
some orders have been secured from the east
by exceptionally low BIDS at the Joliet works
the prices quoted are on the whole lower than
last week. There is not much doing In steel
rails. although sales arr reported at ST. per
ton, a decline OF 81, and bar and structural iron
are also lower.
In boots and shoes a somewhat better de-
mand appears. and yet not enough to keep the
works fully occupied. The shipments from
the east for the past week were 28s.867 cases,
against $50, 62S last year.
The volume of domestic trade gains but
little. exchanges outside New York being 22e
per cent. lower than last year for the week.
The exports OF products for the past month
have been about 81. GOO 600 larger than last year
while imports have been about 81 $4,000
smaller. which indicates an excess Of exports
OF $50 Goa. 600 for the month. The railroads have
been doing o little better. but returns do NOT
come up to those of last year. The treasury
has been gaining in reserve most of the week.
Failures for the week number 35s in the
United States against 23S last year, and q IL
Canada against 81 last wear.