The Portland daily press., 1894-02-10
THE COUNTRY,s BUSINESS.
Developments Encouraging and Other
wise in the Past Week.

February Trade Opens Poorly, the weather
Is Bad Down South and Railroad
Earnings Are Not Up to the Mark
but Bank CIearings indicate Better
Times Coming
New York, February 9.-R,G. Dunn g.
Co.'s weekly review Of trade says; The
failures for The week were 3o5 in the
United States against 232 last year. Out
of 2,1oS commercial failures reported in
January, against 400 in the same month
last year, liabilities were reported for
2,026 amounting to S39, s43, OPS, of which
ST., $50, us were of manufacturing and
II, 234, 5S7 of trading concerns.
Bradstreet's review of trade tomorrow
will say: Unfavorable features in
general merchandise lines are conspicu-
Gus in the reaction in the raw wool
market, following the squirt giving sales
of that staple, particularly at Boston, in
the preceding two weeks, when the
quantity sold exceeded seven million
pounds. The appearance of unreasonable
weather in the South and West, reports
from Baltimore that general trade for
February opens Disappointment, and the
fact that the gross earnings of ia rail-
road companies aggregate 1888, 961, 600 for
January, decrease OF IL per cent from
January year ago., may be regarded as
unfavorable, but it should be recalled
that the moderate Improvement in trade.
beginning. last month has not had an
opportunity to show itself lin increased
railway earnings. The plainly favorable
feature of January railway earnings in
the reports from southern roads, which
are noticeably less unfavorable than in
the preceding month. Forty odd re-
sumptionS of Important industrial eStab-
lishments are reported this week con-
trasted with announcements of the shut
ting down of only six similar concerns.
The easier wool market, while empha-
sized by a weaker market in London,
may be contrasted with a fair jobbing
movement in general dry goods amongst
the leading houses of eastern centres,
which report the volume of trade for
January fair. notwithstanding sales in
small lots. There was favorable sur
prise in the results of the public sale of
home and foreign silks in New York,
the prices paid, instead of re-
sulting in loss, as pre-
dicted, furnishing fair margin of
profit and pointing to the willingness of
UcdlcfS 10 rtpleHlSu bHelf SbOCkS III dtt-
vance of immediate demands. There is
gain also in the movement of mems
wear woolens from eastern centres, and
an increased demand for steel billets at
Pittsburg and Chicago. The demand for
rods, wire and nails has increased and
some mills have refused orders at cur
rent prices. Sales of southern pig iron
have increased at the West. Improve
ment is noted in some general merchan-
disc lines at Boston, but others lack life.
Credits are being extended moderately.
"The exports of wheat from both coasts,
-four included, amount too. $50, 90 bushels,
a moderate gain over last week, but
much smaller total than a year ago,
when the aggregate was 3, 931 ZOO bushels.
During the first five weeks of the
calendar year 1898, the totals of the
stocks of available wheat here and in
Canada east of the Rockies, increased,
net, about ], ZOO, 900 bushels. This year
there has been a net decrease of more
than 600,0 bushels. s$$
been sent West, and it's use is noticeable
at Omaha and Duluth. Bank clearings
are SSSS, 900, 600 as reported from seventy
four cities throughout.the' country, an
increase of Is per cent over the preceding
week and decrease as compared with
the like week last year of So per cent.
This indicates a distinct improvement
when contrasted with the comparisons
of preceding weeks totals with those in
the corresponding weeks last year. The
exports of domestic merchandise and
products in the calendar year 1898, fell
away "A per cent in value from 1892,
and imports, free and dutiable, decreased
6. 5 per cent in 1898 from 1892.