Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1894-03-22
TENDING DOWNWARD.

The Partial Resumption of Manusactur-
ing Industries Marks An Era of CoIr-
moner Wares Adapted to tho Consum-
ing Public-The business Outlook. as
Depleted by Dun q Co.'S Weekly Re-
view.
NEW YORK, March 17.-R. G. Dun &
Co.'S weekly review of trade, issued to-
day, says:
Week by week 1t is found possible by an In.
creaslng number OF concerns to revive produc-
tion with general range of prices the lowest
ever known. AS old stocks give out orders for
repienlshment are first for cheaper goods than
nave before been chosen, traders therein rep.
resentlng consumers who are compelled or de-
sire to live more cheaply. Then the quanti
Ties ordered are much smaller than the indus
tries have been accustomed to supply and so
far below the capacity of the works that
the competition drives prices in each
grade down to or below actual cost,
squeezing out profits and forcing down
wages Yet the profiss and the wages are the
fund from which future purchases for con-
sumption must be made. 1t is under such con-
dltlons that more works gong INTO opera
tlon, many with q doubt how long they will be
able to operate. Thus the measure Of resump-
ton by works or hands or hours of labor is
not measure of the revival in business,
either as to quantity or value of goods dis
tributed. and prices of commodities are this
week on the whole the lowest of which there
Is any record, having declined 1.2 in Feb
ruary and averaging 1l.3 per cent. lower than
year ago, so that more than third OF the de-
crease in volume OF all payments is due to de-
cline in prices of things consumed.
Six more iron furnaces have gone into blast
this month, in part because prices of finished
products are shade lower, and further con-
tracts have thus been secured. Pittsburgh
gets the lions share and has most of its works
in operation, cheaper freights having helped
this work. with lower wages and coke. and
contracts for Mesaba ore at S2.25 The Illinois
steel works are about to resume in part, hav-
ing secured orders for rails but at the east
rails are inactive. and deliveries everywhere
are the lowest for many years Cheap
ness of material and labor stimulates
the erection of many buildings, both
east and west. Pig iron does not
change in price, but sales are somewhat
more easy. More purchasing of copper for
consumption is noticed; lead is shade strong
er, and so Is tin, because of speculation In
London. The boot and shoe industry falls 1915
per cert behind the record for the same week
last year, but owing to the almost unanimous
preference for goods OF cheaper qualities, the
decrease in value Of shipments is greater.
There is some improvement in orders, and it
Is worth noticing that in this department OF
business and in dry goods there is more nearly
the usual demand for womens than for mems
goods In women's dress goods, it is judged
from sales of wool, the business is about
three-Quarters of the usual magnl-
tuuC, ScTScS DcluS III DelCeT OeUQduu
But in mems goods not more than a quarter OF
the usual orders for fall trade have yet been
received. Purchases are mainly of all-wool
suitings from s7l2 cents to 81 in price. unfin-
ished worsteds and cassimeres net about ST.
and fancy cheviots from S7le cents to S1.12A.
The demand is so large that sales of wool again
exceed last years, and for the monthSthus
far has been about 100000 pounds though in
February the decrease was 21.3 per cent
Cottons are generally steady, though good re-
caster ginghams. and further concessions in
brown goods are refused. But stocks OF print
cloths are the largest in March since 1885.
The volume of business represented by all
cIearings this week is 81 g per cent. less than
year ago, and at all cities outside New York
2l4 per cent. less against 2G4 per cent last
week.
Railroad earning make better comparison,
falling but 1876 per cent below last years for
the first week of March. against 1877 per cent.
in February. but the gain is in part because
trunk lines have cut rates and secured, for the
first week in a long time a larger east-bound
movement than was recorded year ago. The
west-oound movement Is also larger in dry
goods and groceries.
Railway stocks have been remarkably steady
and have slightly advanced the past week
Speculation continues rampant in trust stocks
affected by legislation. and the average has adj
vanced for the week nearly 80 cents per share.
Speculation in products is somewhat tame.
though pork and lard have declined sharply.
while corn is held steadily, with receipts 10
per cent. larger than year ago. Wheat has
been depressed by the department report that
114,O00.C0) bushels remained in farmers hands
March l, indicating very great errors in esti-
mates of yield, or else heavy decrease in con-
sumption.
Cotton has declined shade. and estimates
of the crop are about 750O. 900 bales in place Of
6,6000O0 solemnly reported not long ago.
Monetary conditions have been growing
more favorable. though it is impossible to say
how far they may be changed by the passage
of the seigniorage bill on Thursday Some
nervousness in the market is seen already, and
at least s1,25O00O in gold will be exported to-
day.
The treasury has been improving its condi-
ton, for while customs revenue this month
have been As per cent less than last year,
there is some recent increase in internal rev.
enue through removal of spirits from bond to
avoid q higher tax With none OF the outgo
from city banks that is usual at this season.
there is almost unprecedented want of demand
for commercial loans. and for the best paper
per cent. is quoted. Exports OF products are
40 per cent. above. and imports 50 below last
years for the month thus far
Failures for the first week of March were
few, with liabilities thus far reported of only
81 O25 3:5S of which Ssi62Si were of manufac-
turing and 1851 go of trading concerns. Ow-
ing to large deferred statements. received too
late for use last week, the aggregate Of liabilf-
ties for February has been raised to 7S95. 670.
The number of failures reported this week is
26i in the United States. against 100 last year;
and 55 in Canada. against 80 last year. The
absence of important embarraSSmentS is still
most encouraging.