Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-07-26
DUN's COMMERCIAL REVIEW.

The Customary Tests Less Instructive
Than Usual, Owing to Congressional In-
action and the Lingering Effects OF the
Two Great Strikes-Heavy Decrease In
Railroad Earnings-A Further Falling ON
In Failures, ETC., Etc.
NEW YORK. July 21.-R. G. Dun &
Co.'S weekly review of trade, issued to-
day. says:
The effects of the two great strikes
have not yet entirely worn off, and
meanwhile the disagreement between
the two houses of congress has made
tariff uncertainties more distinct and
impressive. It follows that the custom
airy tests of the condition of business
are less instructive than usual. The
financial situation is somewhat less IA
vorab BILE, because the exports OF gold
have been resumed, amounting TO
So, 800, 900 for the week, but treasury
receipts have been S2,O46, 391 for Gus
toms. against Sa.051, 574 last year. and
S7,474,553 internal revenue, against
S2,979, SIS last year. The extraordinary
payments to anticipate the increase OF
taxation on whisky are rapidly locking
up a large amount of capital, and
taking from the government part OF
the expected increase of revenue,
while the current loss in customs re-
ceipts is largely due to the postpone
ment of imports in expectation OF
lower duties hereafter. Thus the
treasury has been gaining in balance,
although at the expense of some loss
in revenue hereafter.
Wheat, during the past days has
been skating on very thin ice, with
chance of breaking through, and MAX
has declined three cents for the
week. With railroads generally
blocked in the wheat-growing districts
it is a satisfactory indication that the
western receipts are about two-thirds
of last years., 271, 514 bushels, against
3,O2S,379 year ago-while the exports
from Atlantic ports are insignificant,
only 672, 4O2 bushels, against 2.S6S,67
last year. The enormous visible sup
plies have less actual weight in the
market than the prevalent conviction
that government estimates of yield are
widely erroneous.
Corn has advanced a shade, with no
satisfactory reason, for the prospect is
excellent for large yield. great
speculation in oats has begun to liqui-
date, with the customary losses to the
wise men who knew all about it. Cot
ton has declined fraction.
Although there was an increase dur
ing the month of June Of nearly
third in the weekly production of pig
iron, and the consumption in the manu-
facture was nearly 10000 tons per week
greater than the output of furnaces. it
is questionable whether any further
improvement has yet occurred in July.
Many of the western establishments
were stopped, because the blockade of
railroads cut Off their supplies of fuel,
and have not yet ventured to resume.
Others west of Pittsburgh have been
inactive, because the coal strike con-
tinues, and the limited production
scarcely suf1ices for the needs of works
near at hand. Behind all other en-
barrassments there is remarkable
narrowness of demand for finished pro-
duction. In all quarters there is much
disappointment because, after the
stoppage of works for months, there
appears scarcely demand enough to
keep supplied the establishments row
in operation.
It is not surprising that the textile
manufactures are retarded by uncer-
tainties about the tariff, and this week
that the difficulty has been felt in
spite of considerable increase in
orders for goods, which has materially
diminished the number of concerns
stopping work. Yet the number clos
ing is quite large, and the reduction in
output of cotton goods has
been considerable, while prices
of bleached goods have been re-
dues to the lowest ever known,
and print cloths have been selling
quite largely at 30 cents. The situa-
ton in wooden goods is mainly due to
the anxiety of clothiers-who have de-
ferred their orders too long-to get the
goods which their trade now impera-
lively demands. Prices do not alter,
nor is there visible any less caution re-
garding transactions reaching beyond
the fall season.
In boots and shoss the shipments
from the east are about as large as q
year ago, with small but numerous or
ders for low-priced goods, in which the
demand seems distinctly increasing.
line volume OF GOmeStlc CTstuc re-
hected by exchanges at the clearing
house is 1872 per cent. smaller than a,
year ago, when the panic and the scare
ity of money caused what was then
considered a paralysis. In comparison
with 1892, the exchanges decrease 22.7
per cent. Much of this decrease, how
ever, is due to the general decline in
prices, which has been over 10 per cent.
for the two years, and s.3 per cent
since year ago.
Foreign trade shows no important
change. the desired expansion of ex-
ports being still deferred, while i'm
ports have been little larger of late,
as the customs receipts indicate.
The most hopeful sign noted this
week is that failures continue compare
lively few and not very important.
The aggregate. OF liabilities for the
twelve days en6aing July 1s was
s., $50, BOG, of which S1.O09,s21 was OF
manufacturing and LAS, 2OA of trading
concerns. which is decidedly below the
average for the past half year:
The failures this week have been e3G
in the United States, against 465 last
year, and forty~four in Canada, against
thirty-five last year.