Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1894-03-26

Sells Below Sixty Cents at New York-No
Demand for Grain Abroad-The Record
of Failures.
NEW YORK, March 26.-R. G. Dun &
Co 5 Weekly Review of Trade SAYS: 1t is
perplexing to he obliged TO report that
business grows larger in volume and at
the same time not more profitable. Tn
certainty does not diminish. but has
rather increased, in the judgment of many
commercial bodies which have urged the
president to veto the seigniorage bill.
Prices of commodities do not rise. but are.
on the whole. though, about Is per cent.
lower than last week, though then the
lowest ever known in this country, and
are 1919 per cent. lower than year ago.
More mills are at work, though the pro-
portion Of productive force unemployed is
still from "A fifth 10 third in different
branches Of industry. and many mills are
stopping because their orders have run
out. even while a larger number are start
ing with orders enough for a time.
Iron Output Increased.
The starting of four furnaces by the Il
linois Steel company and one other at
Pittsburg increases the output OF iron.
and some large sales have been made at
the lowest price yet reported, with indica-
tons of continued demand for structural
work, especially at the west. On the other
hand, the demand for wire in various
forms, which led the way to Improvement,
seems to slacken, and nails are said to
be selling lower than ever, below cent.
a reduction of 90 cents i'll freights from
Pittsburg TO tide water only adds to
-
ness. In minor metals this is little
larger, but at the expense of further
decline to 95 cents for lake copper. while
tin Is steady, and lead a shade higher.
Cotton Goods Fairly Active.
The demand for cotton goods is fairly
large, but with "A reduction in prices of
some grades, and the accumulation of
print cloths continues. \ large auction
sale of silks brought fairly satisfactory
prices. Sales of wool for three weeks
have exceeded last wears 239 per cent.
| though transactions this month last year
were about 30 per cent. below the average
There Is more demand for such wool as is
| needed III manufacture of underwear
dress goods and worsted suitincs but fine
heeces are almost unsuitable, Ohio double
extra being quoted at - cents. and carpet
| manufacturers buy sparingly. though
about half their machinery is active.
whea; Makes Another Record.
' Wheat. cotton and pork have declined a
I little, wheat making another record, a
| shade below 60 cents, at New York. West
| ern receipts are / ,5gS, $40 bushels against
| 2,5i5, 100 bushels last year, and exports
| only l,0l3, 2O9 bushels, against ! .215 81;
| bushels last year, showing that even at
current prices the grain is not largely
| wanted abroad. Corn was ! cent strong
er, with western receipts 2,S,4,69s bushels,
against 1853, 322 bushels last year. Cot
ton receipts from plantations are again
larger than last year to the disgust OF
prophets who have foretold a "perpendic-
| ular drop" ever since Jan. /. With the
| termination of the rebellion in Brazil
opens a new crop of coffee, which is re.
| ported large, but prices are as yet steady
| Cattle are low abroad. The exports are
| retarded.
Increase in Eastbound Tonnage.
| There is encouraging increase, the first
| in many months, in eastbound tonnage
| from Chicago, and at indianapolis the
| movement Is almost as large rs last year
while westbouud tonnage of high elias.
merchant Use is also large. Failures FOL
| the week ending March - involved liabili
ties OF only - ,55s SIS, and for two weeks Of
March only -, So, 10, of which 3, 33D y,
| We're of manufacturing. and 2,+I5, O69 OF
| trading concerns. Some deferred reports
| will further swell the aggregate, but al
San Francisco the assumptions reported
now exceed the failures. A number OF
railroad receiverships are noticed, though
none are of Importance. The failures fol